Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available to each Holder of Certificates, the Master Servicer, the Certificate Insurer, the Credit Risk Manager and the Depositor a statement setting forth for the Certificates: (i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any); (ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Swap Administration Agreement; (iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (v) for each Loan Group, the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date; (vi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap; (viii) the amount of Advances included in the distribution on such Distribution Date; (ix) the cumulative amount of Applied Realized Loss Amounts to date; (x) the number and aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date; (xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date; (xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; (xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xv) whether a Trigger Event exists; (xvi) whether a Group II Sequential Trigger Event exists; (xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider; (xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and (xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties. (b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency. (c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect. (d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters: (i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption; (ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption; (iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above; (iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same; (v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans; (vi) The amount and timing of any non-interest expenses of a REMIC; and (vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Ar1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Rm2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.ctslink.com to each Holder of Certificatesa Class of Certificates of the Trust ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies rating the Certificates and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(viv) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(viv) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(viivi) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viiivii) the amount of Advances included in the distribution on such Distribution Date;
(ixviii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such -89- Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and (3) Adjustable Rate with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, in each such Loan Group;
(xiv) whether a Stepdown Trigger Event or a Class A-1 Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the amount and purpose of any withdrawal from the distribution made on such Distribution Date Collection Account pursuant to the Holders of the Class P Certificates allocable to Prepayment Charges; andSection 3.08(a)(ix);
(xix) the amount withdrawn from the Pre-Funding Account of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the Interest Coverage Account pursuant amount of any payments to Section 4.07 and Section 4.08, respectively, on each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A, Class M, Class B and Class C Certificates described in Section 4.04(k) hereof; and
(xxi) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Offered Certificates and in the Interest Coverage Account, following Class B-4 Certificates on such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. .
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”www.ctslink.com". Assistance in using the website can be obtained by calling the Trustee’s c▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇tee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇ 6600. Parties that are unable to use the above distribution options website are entitled to have a paper entitle▇ ▇▇ ▇▇▇▇ ▇ ▇▇per copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility Trustee shall also be entitled to rely on but shall not be responsible for making the above information available to the Certificateholders is limited to the availability, timeliness and content or accuracy of any information provided by third parties for purposes of preparing the information derived from monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Master Servicerpart of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) The Servicer shall deliver to the NIMs Insurer a copy of any report delivered by the Servicer to the Trustee.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A)-(D) thereof and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect -91- to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ff6)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holders of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Ahl1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Mln1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the - 119 - website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holder of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm3), Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-Rm3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager and the Depositor a Ser▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇ statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account and Supplemental Interest Reserve Fund, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupbeing reduced to zero);
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxxi) the amount of any Net Swap Payment payable payments made by the Cap Counterparty to the Swap Administrator, any Net Swap Payment payable to Trust Fund under the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCorridor Contract;
(xviiixxxii) the amount Stated Principal Balance of any Mortgage Loan that has been repurchased by the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesServicer in accordance with Section 2.02, 2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 2.03.By each Determination Date the Servicer shall provide to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “t▇▇▇.▇ ▇▇▇▇▇▇▇▇.▇▇▇”. Assistance tee in using electronic form the website can information needed to determine the distributions to be obtained by calling made pursuant to Section 4.02 and any other information on which the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use Servicer and the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partiesmutually agree.
(b) The Trustee’s responsibility for making On or before the above information available fifth Business Day following the end of each Prepayment Period (but in no event later than the third Business Day prior to the Certificateholders is limited related Distribution Date), the Servicer shall deliver to the availability, timeliness and accuracy of Trustee (which delivery may be by electronic data transmission) a report in substantially the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A9cb)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.ctslink.com to each Holder of Certificatesa Class of Certificates of the Trus▇ ▇▇▇▇, ▇▇▇ ▇▇▇vicer, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans, (2) second lien Group Two Mortgage Loans and Group Three Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(2xiii) second lien the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and (3) Adjustable Rate Group Three Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans, Group Two Mortgage Loans and Group Three Mortgage Loans;
(xv) whether a Trigger Event existshas occurred;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of the PMI Insurer's Fee paid to the PMI Insurer;
(xxi) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxii) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Certificate Account pursuant to Section 4.07 3.08(a)(v);
(xxiii) the number and Section 4.08aggregate Stated Principal Balance of Mortgage Loans covered by the PMI Policy as of the end of the related Due Period;
(xxiv) the amount of any claims paid by the PMI Insurer pursuant to the PMI Policy with respect to principal, respectivelythe amount of any claims paid by the PMI Insurer pursuant to the PMI Policy with respect to interest, on the amount of any claims made under the PMI Policy and the amount of any claims rejected under the PMI Policy, each as of such Distribution Date;
(xxv) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
(xxvi) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Certificate Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(k) and the amount withdrawn from thereof to be paid to the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution DateOffered Certificates (other than the Class S Certificates) as described in Section 4.04(k) hereof. The Trustee may will make the foregoing Monthly Statement monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, and other parties to the Certificate Insurer this Agreement via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”"www.ctslink.com". Assistance in using the website can be obtained by calling the Trustee’s ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇stee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇ 6600. Parties that are unable to use the above distribution options website are entitled to have a paper entitl▇▇ ▇▇ ▇▇▇▇ ▇ ▇aper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. 121-
(a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at www.etrustee.net to each Holder of Certificatesa Class of Certificates of the Issu▇▇▇ ▇▇▇▇▇▇, the Master ▇▇▇ Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”"www.etrustee.net". Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ ▇▇▇ ▇▇▇▇tee at (312) 992-1102. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ff1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to date[reserved];
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period and the general source of funds for such reimbursements;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) all Late Payment Fees assessable and not waived pursuant to Section 3.21(a);
(xxix) all Prepayment Charges collected and amounts payable by the Servicer for the waiver of such amounts;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) [reserved];
(xxxii) [reserved];
(xxxiii) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxiv) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree. On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.
the Trustee (cwhich delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V. Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(vii) and (a)(iia)(viii) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2007-Ar17)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 2.03. By each Determination Date the Servicer shall provide to the Trustee in electronic form the information needed to determine the distributions to be made pursuant to Section 4.07 4.02 and Section 4.08, respectively, any other information on that Distribution Date, which the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, Servicer and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet websitemutually agree. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy .
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A12)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available to on its website at htt▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ ▇▇ each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of the related distribution to Holders of each Class allocable to principalapplicable Record Dates, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein Interest Accrual Periods and (C) the Extra Principal Determination Dates for calculating distributions for such Distribution Amount (if any)Date;
(ii) the amount of funds received from the Servicer for such distribution to Holders Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Trustee Fee for such Distribution Date;
(iv) the aggregate amount of expenses paid from amounts on deposit in (x) the Certificate Account and (y) the Distribution Account;
(v) for each Loan Groupthe amount of the distribution allocable to principal, separately identifying the aggregate amount of the Stated any Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, Prepayments and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateLiquidation Proceeds included therein;
(vi) the related amount of the Servicing Fees paid distribution allocable to or retained by interest, any Class Unpaid Interest Amounts included in the Master Servicer for distribution and any remaining Class Unpaid Interest Amounts after giving effect to the related Due Perioddistribution;
(vii) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(viii) the aggregate amount of Realized Losses and in the aggregate incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through such Distribution Date;
(ix) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(x) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxi) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxii) as of the last day of the related Due Period:
(A) the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xiii) the number and aggregate Stated Principal Balance outstanding balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquentdays, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiv) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date in such month and (B) delinquent sixty (60) days or more (determined in the same manner as for determining Scheduled Payment delinquencies that result in a Mortgage Loan being a 60+ Day Delinquent Loan) on the Due Date in such month;
(xv) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixvi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixvii) the three month rolling average aggregate amount of Principal Prepayments received during the percent equivalent related Prepayment Period and the number of a fractionMortgage Loans subject to such Principal Prepayments;
(xviii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate Stated Principal Balance amount of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case Advances outstanding as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDetermination Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the aggregate amount withdrawn from of Servicing Advances reimbursed during the Pre-Funding Account related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xx) the aggregate number and outstanding principal balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxi) Deferred Interest, Net Deferred Interest Coverage Account pursuant and Net Rate Carryover for each Class of Certificates;
(xxii) Amounts due and received under the Swap Contract and the Corridor Contract for the Distribution Date;
(xxiii) with respect to Section 4.07 and Section 4.08, respectively, on that the second Distribution Date, the amount remaining on deposit number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the Pre-Funding Account definition of Delayed Delivery Mortgage Loans; and
(xxiv) Prepayment Charges and in the Interest Coverage AccountLate Payment Fees collected, following such Distribution Datewaived, and paid by the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution DateServicer. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant By the Reporting Date the Servicer shall provide to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause in electronic form the information needed to determine the distributions to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.124.02 and any other information on which the Servicer and the Trustee mutually agree.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2007-Flx5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of Certificates▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇, the Master Servicer, the Certificate Insurer, the Credit Risk Manager ▇▇▇ ▇▇▇vicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of the related distribution to Holders of each Class allocable to principalapplicable Record Dates, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein Interest Accrual Periods and (C) the Extra Principal Determination Dates for calculating distributions for such Distribution Amount (if any)Date;
(ii) the amount of funds received from the Servicer for such distribution to Holders Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Trustee Fee for such Distribution Date;
(iv) the aggregate amount of expenses paid from amounts on deposit in (x) the Certificate Account and (y) the Distribution Account;
(v) for each Loan Groupthe amount of the distribution allocable to principal, separately identifying the aggregate amount of the Stated any Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, Prepayments and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateLiquidation Proceeds included therein;
(vi) the related amount of the Servicing Fees paid distribution allocable to or retained by interest, any Class Unpaid Interest Amounts included in the Master Servicer for distribution and any remaining Class Unpaid Interest Amounts after giving effect to the related Due Perioddistribution;
(vii) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(viii) the aggregate amount of Realized Losses and in the aggregate incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through such Distribution Date;
(ix) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(x) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxi) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxii) as of the last day of the related Due Period:
(A) the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xiii) the number and aggregate Stated Principal Balance outstanding balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquentdays, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiv) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date in such month and (B) delinquent sixty (60) days or more (determined in the same manner as for determining Scheduled Payment delinquencies that result in a Mortgage Loan being a 60+ Day Delinquent Loan) on the Due Date in such month;
(xv) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixvi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixvii) the three month rolling average aggregate amount of Principal Prepayments received during the percent equivalent related Prepayment Period and the number of a fractionMortgage Loans subject to such Principal Prepayments;
(xviii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate Stated Principal Balance amount of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case Advances outstanding as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDetermination Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the aggregate amount withdrawn from of Servicing Advances reimbursed during the Pre-Funding Account related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xx) the aggregate number and outstanding principal balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxi) Deferred Interest, Net Deferred Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Net Rate Carryover for each Class of Certificates;
(xxii) Amounts due and received under the Swap Contract and the Corridor Contract for the Distribution Date; and
(xxiii) Prepayment Charges and Late Payment Fees collected, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Datewaived, and paid by the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet websiteServicer. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agencythe Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule IV.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2007-Flx6)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance (including Component Balances) or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss Amounts to date;
(xxiii) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xiv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxvii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxxi) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The On or prior to each Determination Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMSC Mortgage Loan Trust 2007-F1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager and the Depositor Servicer ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account and Supplemental Interest Reserve Fund, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupbeing reduced to zero);
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxxi) the amount of any Net Swap Payment payable payments made by the Cap Counterparty to the Swap Administrator, any Net Swap Payment payable to Trust Fund under the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCorridor Contract;
(xviiixxxii) the amount Stated Principal Balance of any Mortgage Loan that has been repurchased by the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesServicer in accordance with Section 2.02, 2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website2.03. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By each Determination Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A10)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each class of the Class of A, Class R, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the number and aggregate Stated Principal Balance amount of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure Realized Losses and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) Applied Realized Loss Amounts with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Sd1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each class of the Class of A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee (Attention: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, who may be reached directly at (▇▇▇) ▇▇▇-▇▇▇▇ ▇). Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-He3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount of Servicing Advances made or reimbursed during the period;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Special Servicer (as applicable), the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness the Trustee shall be entitled to rely conclusively on the accuracy and accuracy completeness of the information derived from or data provided to the Master Trustee by the Servicer, the Special Servicer (as applicable), the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Ff1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding month;
Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans; (xv) whether a Stepdown Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator has occurred and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2006-Ff18)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor and the Depositor Class A Certificate Insurer a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent, (2) 31 to 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactionsdays,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date, ;
(xxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected or waived by the Servicer;
(xxx) Late Payment Fees collected or waived by the Servicer;
(xxxi) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxii) [reserved];
(xxxiii) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxiv) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A7)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(viv) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(viv) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(viivi) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viiivii) the amount of Advances included in the distribution on such Distribution Date;
(ixviii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(x) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One and Group Two Mortgage Loans;
(xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and (3) Adjustable Rate with respect to the Group One and Group Two Mortgage Loans, in each such Loan Group;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the amount and purpose of any withdrawal from the distribution made on such Distribution Date Certificate Account pursuant to the Holders of the Class P Certificates allocable to Prepayment Charges; andSection 3.08(a)(v);
(xix) the amount withdrawn from the Pre-Funding Account of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that or REMIC "residual interest"; and
(xx) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Certificate Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(k) and the amount withdrawn from thereof to be paid to the Pre-Funding Account Class A, Class M and used to buy Subsequent Mortgage Loans prior to such Distribution DateClass B Certificates described in Section 4.04(k) hereof. The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses clause (a)(i) of this Section 4.05 (without regard to subclauses (A) through (D) thereof) and clause (a)(ii) of this Section 5.06 4.05 aggregated for such calendar -88- year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2004-Wmc5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.jpmorgan.com/absmbs to each Holder of Certificatesa Class of Certificates of t▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Carryforward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date;
(xv) whether a Stepup Trigger Event existsor a Stepdown Trigger Event has occurred;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
(xxiii) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(k) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Offered Certificates as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(k) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make cause to be made available to each Holder of CertificatesCertificateholder, the Master each Servicer, the Certificate InsurerDepositor, the Credit Risk Manager and the Depositor each Rating Agency, a statement setting forth for with respect to the Certificatesrelated distribution:
(i) the amount of the related distribution to Holders of each Class thereof allocable to principal, separately identifying (A) indicating the aggregate amount of any portion thereof attributable to Scheduled Payments and Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Prepayments;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates thereof allocable to interest and interest, indicating the portion thereof, if any, provided by the Swap Administration Agreementthereof attributable to any Carryforward Interest included in such distribution;
(iii) if the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each distribution to the Holders of such Class of CertificatesCertificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall and the allocation thereof as between principal and interest;
(iv) the Certificate Class Principal Balance or Certificate Notional Amount, as applicable, of each Class of Certificates after giving effect (i) to all distributions allocable to the distribution of principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each the Aggregate Loan Group, the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees paid and the Trustee Fees with respect to or retained by the Master Servicer for the related Due Periodsuch Distribution Date;
(vii) the Pass-Through Rate for each such Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date and the aggregate amount of Advances outstanding as of the close of business on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss Amounts to date;
(x) the number and aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive principal amounts of Mortgage Loans in foreclosure and bankruptcyor delinquent (with a notation indicating which Mortgage Loans, if any, are in foreclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (34) 90 days 91 or more Delinquentdays, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying Date;
(x) the Rolling Three Month Delinquency Rate for such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan total number and Stated Principal Balance ofprincipal balance of any REO Properties (and market value, and Realized Loss on, such Mortgage Loan if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number aggregate amount of Realized Losses incurred during the preceding calendar month and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding aggregate Realized Losses through such Distribution Date;; and
(xiii) the three month rolling weighted average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance term to maturity of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicereach Servicer which shall be provided as required in Section 4.05. The Trustee will make available a copy of On each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar yearDistribution Date, the Trustee shall cause provide Bloomberg Financial Markets, L.P. ("Bloomberg") cusip level factors for each Class of Offered Certificates as of such Distribution Date, using a format and media mutually acceptable to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing Trustee and Bloomberg. In connection with providing the information set forth specified in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year 4.04 to Bloomberg, the Trustee and any director, officer, employee or applicable portion thereof during which such Person was a Certificateholder. Such obligation agent of the Trustee shall be deemed to have been satisfied indemnified and held harmless by DLJMC, to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (orextent, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder manner and subject to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be limitations provided by the Depositor pursuant to Section 9.12.in
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan Loans that was liquidated become REO Properties during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the such Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for Distribution Date, in the (1) first lien aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holders of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer (which information is not required to include any prediction of future performance as to which such report relates), the Trustee shall prepare and make available on its website located at "▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇" to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerSwap Provider, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the date of such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the applicable Record Date and Accrual Period;
(iii) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(iiiv) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iiiv) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(vvi) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vivii) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer, the amount of the Trustee Fee paid to or retained by the Trustee and any amounts constituting reimbursement or indemnification of the Servicer for the related Due Periodor Trustee;
(viiviii) the amount of the Trustee Fee retained by the Trustee with respect to such Distribution Date;
(ix) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viiix) the amount of Advances included in the distribution on such Distribution Date, the aggregate amount of Advances outstanding as of the close of business on such Distribution Date and the amount of Advances reimbursed since the previous Distribution Date;
(ixxi) the cumulative amount of Applied Realized Loss Amounts to dateServicing Advances made since the previous Distribution Date and the aggregate amount of Servicing Advances outstanding as of the close of business on such Distribution Date;
(xxii) the number and aggregate Stated Principal Balance of the Mortgage Loans, the Net Rate, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in each Loan Group the aggregate;
(xiv) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xv) the number and aggregate principal amounts of Mortgage Loans (A) Delinquent (exclusive of Mortgage Loans in foreclosure) in 30-day increments until foreclosure or other disposition and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquentforeclosure, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1(D) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentthat are REO Properties, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate;
(xixvi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xivxvii) the Realized Losses total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, in the aggregate;
(xviii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate;
(xix) whether a Stepdown Trigger Event has occurred and is in effect;
(xx) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xxi) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the applicable Cut-off Date;
(xxii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthapplicable Cut-off Date;
(xvxxiii) whether a Trigger Event existsthe amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(viii);
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxiv) the amount of any Net Swap Payment payable payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxv) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Administrator, any Net Swap Payment payable Agreement as described in Section 4.04(k) and the amount thereof to be paid to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderOffered Certificates as described in Section 4.04(k) hereof;
(xviiixxvi) any expenses or indemnification amounts paid by the amount Trust, the specific purpose of each payment and the distribution made on parties to whom such payments were made;
(xxvii) any material modifications, extensions or waivers as to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the applicable Cut-off Date;
(xxviii) unless such information is set forth in the Form 10-D relating to such Distribution Date or an appropriate Form 8-K, and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Holders Mortgage Loans and any material breach of the Class P Certificates allocable to Prepayment Chargescovenants hereunder; and
(xixxxix) the amount withdrawn number and aggregate principal balance of any Mortgage Loans repurchased by the Depositor from the Pre-Funding Account and Trust since the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that previous Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. .
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”/▇▇▇". Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇1-▇▇▇▇ 800-934-6802. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) , and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility Trustee shall also be entitled to rely on but shall not be responsible for making the above information available to the Certificateholders is limited to the availability, timeliness and content or accuracy of any information provided by third parties for purposes of preparing the information derived from monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Master Servicerpart of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within [Reserved].
(d) If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A)-(D) thereof and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(de) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders Holder of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q 1066Q, upon written request, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust Series 2006-Amn1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to date[reserved];
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Dates;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) [reserved];
(xxxii) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMJA Mortgage Loan Trust 2007-A3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class immediately prior to and after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group and in the aggregate included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group and in the aggregate to date;
(xxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group and in the aggregate with respect to such Distribution Date;
(xii) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupdate of acquisition thereof;
(xiv) the Realized Losses total number and principal balance of any REO Properties in each Loan Group and in the aggregate as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) the aggregate Stated Principal Balance of all Liquidated Loans in each Loan Group and in the aggregate as of the preceding Distribution Date;
(xvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group and in the aggregate which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a) and (b) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxiv) the amount and purpose of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(vii);
(xxv) the number and Section 4.08, respectively, on that Distribution Date, aggregate Stated Principal Balance of all Subsequent Mortgage Loans purchased during the preceding Due Period;
(xxvi) the amount remaining on deposit in the Pre-Funding Account and the Capitalized Interest Account (in the Interest Coverage Accountaggregate and with respect to each Loan Group and with respect to Group IIA and Group IIB);
(xxvii) for the Distribution Date in the month immediately following the end of the Funding Period, following such Distribution Date, and the amount withdrawn from current balance on deposit in the Pre-Funding Account and Account, if any, that has not been used to buy purchase Subsequent Mortgage Loans prior and that is being distributed to Certificateholders as a mandatory prepayment of principal on such Distribution Date. The Trustee may make ;
(xxviii) the foregoing Monthly Statement number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to each Loan Group;
(xxix) the number and the principal balance of Mortgage Loans with respect to any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure;
(xxx) the aggregate amount of all Advances recovered during the related Due Period;
(xxxi) the allocation to each Class of Certificate of any Realized Losses during the related Due Period;
(xxxii) with respect to each Class of Certificates, the amount of any Prepayment Interest Shortfalls on such Distribution Date;
(xxxiii) Number and amount of pool assets at the beginning and ending of each period, and updated pool composition information, such as weighted average coupon, weighted average life, weighted average remaining term, pool factors and prepayment amounts;
(xxxiv) In addition, describe any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxxv) Information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxxvi) Any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxvii) Material breaches of pool asset representations or warranties or transaction covenants;
(xxxviii) Information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and, at its option
(xxxix) Information regarding any new issuance of asset-backed securities backed by the same asset pool, any additional files containing pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the same information balances of any prefunding or revolving accounts, if applicable. Disclose any material changes in an alternative format) available each month the solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures, as applicable, used to Certificateholders and to originate, acquire or select the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partiesnew pool assets.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee Servicer will make available send a copy of each statement provided pursuant to this Section 5.06 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of the Stated Principal Balance of expenses paid from amounts on deposit in (A) all of the Mortgage Loans in such Loan Group, (Bx) the first lien Mortgage Loans in such Loan Group, Certificate Account and (Cy) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses in each Loan Group and in the aggregate incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss Amounts to date;
(xxiii) the number of Mortgage Loans in each Loan Group and in the aggregate and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xiv) as of the last day of the related Due Period:
(A) the weighted average Mortgage Rate of the Mortgage Loans in each Loan Group and in the aggregate, and
(B) the weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and in the aggregate;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group and in the aggregate as of the end of the preceding calendar month:
(A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days,
(B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent days and
(C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentthat were the subject of a Loan Modification during the preceding 12-month period, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each Mortgage Loan that has been the subject of a Loan Modification since the Closing Date,
(A) the modified Mortgage Rate and the Mortgage Rate as in effect at the Cut-off Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) Delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and in the aggregate (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Determination Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans in each Loan Group and in the aggregate repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) [reserved];
(xxviii) Amounts due and received under the Swap Contract for the Distribution Date;
(xxix) Hard Prepayment Charges, Soft Prepayment Charges and Late Payment Fees collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxxi) the Stated Principal Balance of all any Mortgage Loan that has been repurchased by the Servicer in accordance with Section 2.02, 2.03 or 3.12; and
(xxxii) the Stated Principal Balance of any Substitute Mortgage Loan provided by the Seller and the Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 2.03.
(xxxiii) the percentage (by Stated Principal Balance) and number of Mortgage Loans (in each Loan Group and in the aggregate) subject to a Loan Modification during the prior month, both in the aggregate and by modification type (interest-rate, conversion from an adjustable rate to a fixed rate, balloon extension or balloon reset modifications);
(xxxiv) the percentage (by Stated Principal Balance) and number of Mortgage Loans (in each Loan Group and in the aggregate) subject to a Loan Modification (x) since the Closing Date and (y) during the preceding 12-month period, in each case in both the aggregate and by modification type (interest-rate, conversion from an adjustable rate to a fixed rate, balloon extension or balloon reset modifications);
(xxxv) the percentage (by Stated Principal Balance) of Mortgage Loans (in each Loan Group and in the aggregate) subject to a Loan Modification for which the Mortgagor has made its cumulative Scheduled Payments for the 12-month period immediately following the date of the modification;
(xxxvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans subject to a Loan Modification since the Closing Date in such each Loan Group and in each case the aggregate as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding calendar month;
(xvA) whether a Trigger Event exists;Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days,
(xviB) whether a Group II Sequential Trigger Event exists;in foreclosure and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, and
(xviiC) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargescurrent; and
(xixxxxvii) the aggregate amount withdrawn from of Capitalized Advances reimbursed to the Pre-Funding Account Servicer (x) since the Closing Date and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit (y) in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partiesmonth.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) By the Reporting Date, the Servicer shall provide to the Trustee in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree. The Servicer shall make available to the Rating Agencies on its website at http:///b▇▇▇▇▇.▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇/▇▇▇▇▇▇▇▇/▇▇▇▇▇ monthly loan level information. Such data at a minimum shall contain the fields referenced in Schedule V.
(d) On or before the fifth Business Day following the end of each Prepayment Period (but in no event later than the third Business Day prior to the related Distribution Date), the Servicer shall deliver to the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(e) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(vii) and (a)(iia)(viii) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDA Mortgage Loan Trust 2007-Ar9)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at www.etrustee.net to each Holder of Certificatesa Class of Certificates of the Iss▇▇▇▇ ▇▇▇▇▇▇, the Master ▇▇▇ Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor and the Depositor Class A Certificate Insurer a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans, (2) second lien Mortgage Loans, Loans and (3) Adjustable Rate Group Two Mortgage Loans, in each such Loan Groupaccordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or similar state laws, respectively, on that Distribution Dateas amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxii) with respect to each Class of Certificates, the amount remaining of any Non-Supported Interest Shortfalls on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date;
(xxiii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxiv) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxv) information on the amount withdrawn from of Servicing Advances made or reimbursed during the Pre-Funding Account period;
(xxvi) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxvii) material breaches of pool asset representations or warranties or transaction covenants;
(xxviii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and used to buy Subsequent Mortgage Loans prior to whether the trigger was met; and
(xxix) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such Distribution Date. as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”"www.etrustee.net". Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ ▇▇▇ ▇▇▇stee at (312) 992-4855. Parties that are unable to use the above distribution options website are entitled to have a paper entitl▇▇ ▇▇ ▇▇▇▇ ▇ ▇aper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master ServicerTrustee by the Servicer or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, the NIMs Insurer (upon request) and the Class A Certificate Insurer, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-FFC)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDistribution, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on 112 Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, information set forth in items (xxiv) through (xxxi) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(viv) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(viv) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(viivi) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viiivii) the amount of Advances included in the distribution on such Distribution Date;
(ixviii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and (3) Adjustable Rate with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, in each such Loan Group;
(xiv) whether a Stepdown Trigger Event has occurred and is in effect;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the amount and purpose of any withdrawal from the distribution made on such Distribution Date Collection Account pursuant to the Holders of the Class P Certificates allocable to Prepayment Charges; andSection 3.08(a)(viii);
(xix) the amount withdrawn from the Pre-Funding Account of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and the Interest Coverage Account pursuant amount of any payments to Section 4.07 and Section 4.08, respectively, on each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xx) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Offered Certificates described in Section 4.04(k) hereof;
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Offered Certificates (other than holders of the Class A-2B, Class A-2C, Class A-2D and in the Interest Coverage Account, following Fixed Rate Subordinate Certificates) on such Distribution Date;
(xxiii) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans.;
(xxiv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxv) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvi) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxvii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxviii) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxix) material breaches of pool asset representations or warranties or transaction covenants;
(xxx) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxi) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement, and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. ." Assistance in using the website can be obtained by calling the Trustee’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above information available Trustee based on Mortgage Loan data provided to the Certificateholders is limited Trustee by the Servicer and information received by the Trustee from any other third party, including the Swap Counterparty. In preparing or furnishing the foregoing information, the Trustee shall be entitled to rely conclusively on the availability, timeliness and accuracy of the information derived from or data that has been provided to the Master Trustee by the Servicer, the Swap Counterparty and any other party hereunder, and the Trustee shall have no liability for any errors in such information or data. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based solely on information provided by the Servicer, the Trustee shall prepare and make available on its website located at https://www.tss.db.com/invr to each Holder of Certificatesa Class of Certificates ▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer, and any amounts constituting reimbursement or indemnification of the Servicer for the related Due Periodor Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for Date;
(xiii) the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupaggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) with respect to each Class of Certificates, any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xvii) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xvxix) whether a Trigger Event existsReserved;
(xvixx) whether a Group II Sequential Trigger Event exists;the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v); and
(xviixxi) the amount of any Net Swap Payment payable payments to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date any payments to the Holders each Class of the Class P Certificates allocable to Prepayment Charges; andthat are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest".
(xixb) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”https://www.tss.db.com/invr. Assistance in using the website can be obtained by calling the Trustee’s ob▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ee's customer service desk at (▇▇▇800) ▇▇▇735-▇▇▇▇ 7777. Parties that are unable to use the above distribution options website are entitled to have a paper entitle▇ ▇▇ ▇▇▇▇ ▇ ▇▇per copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility Trustee shall also be entitled to rely on but shall not be responsible for making the above information available to the Certificateholders is limited to the availability, timeliness and content or accuracy of any information provided by third parties for purposes of preparing the information derived from monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the Master Servicerpart of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly and, if necessary, with the cooperation of the Servicer, to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) : The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(iii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iiiii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iviii) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(viv) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(viv) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(viivi) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-Nca)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii); -122-
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date, ;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount of Servicing Advances made or reimbursed during the period;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available to each Holder of Certificates, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Swap Provider and the Depositor a statement setting forth for the Certificates:
(i) the amount of such distribution to Holders of each Class allocable to interest;
(ii) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(iiiii) the amount of such distribution to Holders of each Class of Class A Certificates and Class M Certificates allocable to interest and the portion thereof, if any, provided by the Swap Derivative Administration Agreement;
(iiiiv) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(ivv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(vvi) for each Loan Group, the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vivii) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period;
(viiviii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viiiix) the amount of Advances included in the distribution on such Distribution Date;
(ixx) the cumulative amount of Applied Realized Loss Amounts to date;
(xxi) the number and aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent(1delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xiixiii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiiixiv) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xivxv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Derivative Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Derivative Administrator and any Swap Termination Payment payable to the Swap Provider;; and
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He12)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date;
(xxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupdate of acquisition thereof;
(xiv) the Realized Losses total number and principal balance of any REO Properties in each Loan Group as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) the aggregate Stated Principal Balance of all Liquidated Loans in each Loan Group as of the preceding Distribution Date;
(xvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxiv) the amount and purpose of any Net Swap Payment payable withdrawal from the Collection Account pursuant to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesSection 3.08(a)(vii); and
(xixxxv) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that as of each Distribution Date, the amount remaining on deposit interest rate cap agreement payments that have accrued in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, favor of or been paid to each class of Certificates for federal income tax purposes under Section 2.07 hereof and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in interest rate cap agreement payments that each class of Certificates has accrued an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order obligation to make such distributions more convenient or more accessible to the above partieshas made for federal income tax purposes.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee Servicer will make available send a copy of each statement provided pursuant to this Section 5.06 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form Forms 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate NIM Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Class A, Class R, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in each the aggregate;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event existsor a Class A Trigger Event has occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Floating Rate Certificate Carryover with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Floating Rate Certificate Carryover paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Floating Rate Certificate Carryover for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxi) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest";
(xxii) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account pursuant to the Cap Contract as described in Section 4.04(j) and the amount thereof to be paid to the Class A, Class R, Class M and Class B Certificates as described in Section 4.04(j) hereof;
(xxiii) the Interest Coverage Accountamount of the MI Insurer Fee paid to the MI Insurer;
(xxiv) the number and aggregate Stated Principal Balance of Mortgage Loans covered by the MI Policy as of the end of the related Due Period; and
(A) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to principal, following (B) the amount of any claims paid by the MI Insurer pursuant to the MI Policy with respect to interest, and (C) solely to the extent provided by the Servicer, the amount of any claims made under the MI Policy and the amount of any claims rejected under the MI Policy, each as of such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency[RESERVED].
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.ctslink.com to each Holder of Certificatesa Class of Certificates of the Tr▇▇▇ ▇▇▇▇, ▇▇▇ ▇ervicer, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(viv) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(viv) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(viivi) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viiivii) the amount of Advances included in the distribution on such Distribution Date;
(ixviii) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Mortgage Loans;
(ix) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans;
(x) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Mortgage Loans;
(xii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Mortgage Loans;
(xiii) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date, in the aggregate and (3) Adjustable Rate with respect to the Mortgage Loans, in each such Loan Group;
(xiv) whether a Trigger Event has occurred;
(xv) with respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvi) the Realized Losses number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xvii) the number of Mortgage Loans for which Prepayment Penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Penalties received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the amount and purpose of any withdrawal from the distribution made on such Distribution Date Certificate Account pursuant to the Holders of the Class P Certificates allocable to Prepayment Charges; andSection 3.08(a)(v);
(xix) the amount withdrawn from the Pre-Funding Account of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and the Interest Coverage Account pursuant amount of any payments to Section 4.07 and Section 4.08, respectively, on each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
(xx) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Certificate Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(k) and the amount withdrawn from thereof to be paid to the Pre-Funding Account Class A, Class M and used to buy Subsequent Mortgage Loans prior to such Distribution DateClass B Certificates described in Section 4.04(k) hereof. The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”"www.ctslink.com". Assistance in using the website can be obtained by calling the Trustee’s b▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇rustee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇ 6600. Parties that are unable to use the above distribution options website are entitled to have a enti▇▇▇▇ ▇▇ ▇▇▇▇ ▇ paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above partiesparties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) without regard to subclauses (A) - (D) thereof and (a)(ii) of this Section 5.06 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance (including Component Balances) or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxiv) as of the last day of the related Due Period:
(A) the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxvii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxx) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxi) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website2.03. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By each Determination Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of Certificatesea▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇, the Master Servicer, the Certificate Insurer, the Credit Risk Manager ▇▇▇ Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance (including Component Balances) or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxiv) as of the last day of the related Due Period:
(A) the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxvii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxx) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxi) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website2.03. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By each Determination Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate NIM Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
(xxiii) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(j) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Offered Certificates as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(j) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIM Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIM Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIM Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available the Trustee shall cause to be forwarded by mail to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate InsurerDepositor, and, as long as the Credit Risk Manager Class AR5 Certificates are outstanding, to the Rating Agencies and the Depositor Bloomberg, a statement setting forth for the Certificatesfollowing information as to each Class of Certificates to the extent applicable:
(i) the amount of the related such distribution to Holders of each Class allocable to representing principal, separately identifying (A1) the aggregate amount of any Principal Prepayments included therein, (B2) the portion of such distribution, if any, representing a Monthly Advance of principal, and (3) the aggregate Certificate Principal Balance of all scheduled payments each Class Certificates, after giving effect to such distributions, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal included therein and (C) the Extra Principal Distribution Amount (if any)principal;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to representing interest and the portion thereofof such distribution, if any, provided by the Swap Administration Agreementrepresenting a Monthly Advance of interest;
(iii) the Interest Carry Forward Amount aggregate Principal Balances of the Mortgage Loans as of the close of business on such Distribution Date and any Basis Risk Shortfall Carry Forward Amount for each Class the amount of CertificatesPrincipal Prepayments and the aggregate Principal Balances of the Mortgage Loans repurchased by the Seller during the immediately preceding Prepayment Periods;
(iv) the Certificate Principal Balance or Certificate Notional Amount, Servicing Fees and Additional Servicing Fees (as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) retained by the allocation of any Applied Realized Loss Amounts for such Distribution DateServicer;
(v) for each the amount of Monthly Advances paid by the Servicer, segregating such Monthly Advances relating to Loan GroupGroup 5, Loan Group 6, Loan Group 7, Loan Group 8, Loan Group 9 and the aggregate of the Stated Principal Balance of (A) all of the Class Y Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan GroupLoans, and (D) the Adjustable Rate Monthly Advances relating to the Class AR5 Mortgage Loans in such Loan Group, for the following Distribution DateLoans;
(vi) the related amount number and aggregate principal amounts of the Servicing Fees paid to Mortgage Loans (A) delinquent (1) one month, (2) two months, (3) three months or retained by the Master Servicer for the related Due Periodmore and (B) in foreclosure and (C) in bankruptcy;
(vii) the Pass-Through Rate for each Class book value (within the meaning of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap12 C.F.R.ss.571.13 or comparable provision) of any REO Property;
(viii) the amount respective amounts, if any, of Advances included in Realized Losses allocated to the distribution on respective Classes of Certificates with respect to such Distribution Date;
(ix) all Monthly Advances recovered during the cumulative amount related Due Period and the extent of Applied Realized Loss Amounts to dateMonthly Advances remaining unreimbursed;
(x) the number and aggregate Stated Principal Balance amount of any tax imposed on a "prohibited transaction" of the Mortgage Loans Trust Fund as defined in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as Section 860F of the close of business on Code during the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Grouprelated Due Period;
(xi) with respect to the amount of any Mortgage Loan that was liquidated during the preceding calendar monthreduction in Certificate Principal Balance, the loan number and Stated Principal Balance of, and Class A Cumulative Interest Shortfall Amount or Class A or Class R Interest Distribution Amount for any Class attributable to the application of Realized Loss on, such Mortgage Loan as of the close of business Losses thereto on the Determination Date preceding such Distribution Date;
(xii) the total number Certificate Rate applicable for such Distribution Date and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding Class AR5 Pass-Through Rate applicable for such Distribution Date;
(xiii) the three month rolling average aggregate principal balance of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the all Mortgage Loans in each Loan Group that which are 60 days the subject of substitution or more delinquent purchase by the Seller pursuant to Section 2.01. 2.02. 2.03, 2.04 or are in bankruptcy or foreclosure or are REO Properties3.12, during the month of such Distribution Date, together with the number of such Mortgage Loans removed and the denominator amount of which is any resulting shortage deposited into the aggregate Stated Principal Balance of all of Custodial Account by the Mortgage Loans Seller or Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthClass AR5 Distribution Amount;
(xv) whether a Trigger Event existsthe Class Y Distribution Amount, separating out such amount allocable to principal and such amount allocable to interest;
(xvi) whether a Group II Sequential Trigger Event exists;the Cumulative Interest Shortfall Amount for each Class, as applicable; and
(xvii) cumulative Realized Losses since the amount of any Net Swap Payment payable to Delivery Date and for the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable three year period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows commencing on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12Delivery Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of the related distribution to Holders of each Class allocable to principalapplicable Record Dates, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein Interest Accrual Periods and (C) the Extra Principal Determination Dates for calculating distributions for such Distribution Amount (if any)Date;
(ii) the amount of funds received from the Servicer for such distribution to Holders Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts Trustee Fee for such Distribution Date;
(iv) the aggregate amount of expenses paid from amounts on deposit in (x) the Certificate Account and (y) the Distribution Account;
(v) for each Loan Groupthe amount of the distribution allocable to principal, separately identifying the aggregate amount of the Stated any Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, Prepayments and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateLiquidation Proceeds included therein;
(vi) the related amount of the Servicing Fees paid distribution allocable to or retained by interest, any Class Unpaid Interest Amounts included in the Master Servicer for distribution and any remaining Class Unpaid Interest Amounts after giving effect to the related Due Perioddistribution;
(vii) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(viii) the aggregate amount of Realized Losses and in the aggregate incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through such Distribution Date;
(ix) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(x) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxi) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxii) as of the last day of the related Due Period:
(A) the weighted average mortgage rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xiii) the number and aggregate Stated Principal Balance outstanding balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquentdays, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiv) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date in such month and (B) delinquent sixty (60) days or more (determined in the same manner as for determining Scheduled Payment delinquencies that result in a Mortgage Loan being a 60+ Day Delinquent Loan) on the Due Date in such month;
(xv) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixvi) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixvii) the three month rolling average aggregate amount of Principal Prepayments received during the percent equivalent related Prepayment Period and the number of a fractionMortgage Loans subject to such Principal Prepayments;
(xviii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate Stated Principal Balance amount of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case Advances outstanding as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDetermination Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the aggregate amount withdrawn from of Servicing Advances reimbursed during the Pre-Funding Account related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xx) the aggregate number and outstanding principal balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxi) Deferred Interest, Net Deferred Interest Coverage Account pursuant and Net Rate Carryover for each Class of Certificates;
(xxii) Amounts due and received under the Swap Contract for the Distribution Date;
(xxiii) with respect to Section 4.07 and Section 4.08, respectively, on that the second Distribution Date, the amount remaining on deposit number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the Pre-Funding Account definition of Delayed Delivery Mortgage Loans; and
(xxiv) Prepayment Charges and in the Interest Coverage AccountLate Payment Fees collected, following such Distribution Datewaived, and paid by the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution DateServicer. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agencythe Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule IV.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2007-Flx4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to date[reserved];
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Collateral Allocation Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxxi) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMSC Mortgage Loan Trust 2007-F3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Master Servicer or Servicer, as applicable, the Trustee Securities Administrator shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, each Servicer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the each $1,000 principal amount of Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Carryforward Amount for each Class of the Certificates;
(iv) the Class Certificate Principal Balance or Certificate Class Notional Amount, as applicable, Amount of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Administrator Fee and Servicing Fees paid to or retained by the Master Servicer for Securities Administrator or the related Due PeriodServicers;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for Date;
(xiii) the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupaggregate Stated Principal Balance of all Liquidated Loans as of the immediately preceding Distribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding monthwhether a Trigger Event has occurred;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account Account;
(xvi) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) with respect to each Class Certificates any Floating Rate Certificate Carryover with respect to such Distribution Date for each such Class, any Floating Rate Certificate Carryover paid for each such Class and any remaining Floating Rate Certificate Carryover for each such Class;
(xviii) the number and Stated Principal Balance (as of the immediately preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) [RESERVED];
(xxi) the amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(v);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest Coverage Account, following such and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Certificate Account pursuant to the Cap Contract as described in Section 5.05(l) and the amount withdrawn from thereof to be paid to the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Offered Certificates as described in Section 5.05(l) hereof; and
(xxiv) as of each Distribution Date. The Trustee may make , the foregoing Monthly Statement Floating Rate Certificate Carryover for each Class of Certificates (and, at its option, any additional files containing other than the same information in an alternative formatInterest Only Certificates and the Class N and Class X Certificates) available each month to Certificateholders and the portion of such Floating Rate Certificate Carryover that is attributable to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties fact that Applied Realized Loss Amounts are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible not allocated to the above partiesClass A and Class R Certificates.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.[RESERVED];
(c) Within If so requested in writing or as required by applicable law, within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in effect. Within a reasonable period of time after the end of each calendar year if requested in writing or required by applicable law, the Securities Administrator will prepare and deliver to each certificateholder of record during the previous calendar year, a statement containing information necessary to enable certificateholders to prepare their tax returns. The Securities Administrator will not be responsible for any errors, omissions or misstatements that may be incorporated in such statement.
(d) Upon filing with the Internal Revenue Service, the Trustee Securities Administrator shall furnish to the Holders of the Residual Certificates Class R Certificate the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The : the original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(iii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iiiii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iviii) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(viv) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(viv) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(viivi) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The Securities Administrator shall only be required to provide the information pursuant to clauses (i), (ii), ) and (iii) and (iv) above shall be if such information is provided to the Securities Administrator by the Depositor pursuant to Section 9.12Depositor.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 3he)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances for each Certificate Group included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date;
(xxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupdate of acquisition thereof;
(xiv) the Realized Losses total number and principal balance of any REO Properties in each Loan Group as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) the aggregate Stated Principal Balance of all Liquidated Loans in each Loan Group as of the preceding Distribution Date;
(xvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xvxxiv) whether a Trigger Event existsthe amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(vii);
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxv) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the related amount of the distribution made on such Distribution Date PMI Insurer's Fee paid to the Holders of the Class P Certificates allocable to Prepayment ChargesPMI Insurer; and
(xixxxvi) the related amount withdrawn from of the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and Advisor's Fee paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.Loss Mitigation Advisor;
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee Servicer will make available send a copy of each statement provided pursuant to this Section 5.06 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan Loans that was liquidated become REO Properties during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the such Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for Distribution Date, in the (1) first lien aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and, upon request of the Holders of the Class R Certificate, each Form 1066, and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Opt1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class 1-A Certificates, the Class 2-A Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date, ;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount of Servicing Advances made or reimbursed during the period;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to date[reserved];
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Collateral Allocation Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxxi) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMJA Mortgage Loan Trust 2007-A2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance (including Component Balances) or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount number of Applied Realized Loss Amounts to dateMortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xxiv) as of the last day of the related Due Period:
(A) the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group as of the end of the preceding calendar month:
(A) Delinquent delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxvii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxxi) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By each Reporting Date the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMSC Mortgage Loan Trust 2007-F2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses in each Loan Group and Aggregate Loan Group incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss Amounts to date;
(xxiii) the number of Mortgage Loans in each Loan Group and Aggregate Loan Group and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and Aggregate Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xiv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans in each Loan Group and Aggregate Loan Group, and
(B) the weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and Aggregate Loan Group;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group and in the aggregate as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and in the aggregate (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans in each Loan Group and Aggregate Loan Group repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount for the applicable Aggregate Loan Group, in each case as of the related Determination Date;
(xxvii) Hard Prepayment Charges and Soft Prepayment Charges collected, waived, and paid by the Servicer;
(xxviii) Late Payment Fees collected or waived by the Servicer;
(xxix) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and Aggregate Loan Group that are 60 days or more delinquent or are became Liquidated Mortgage Loans in bankruptcy or foreclosure or are REO Properties, the prior month and since the denominator of which is Cut-off Date (in each case immediately prior to the aggregate Stated Principal Balance being reduced to zero);
(xxx) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxi) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website2.03. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. By the Reporting Date, the Servicer shall provide to the Trustee in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree. The Trustee will Servicer shall make available to the Rating Agencies on its website at h▇▇▇://▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇/investor/login monthly loan-level information. Such data at a copy minimum shall contain the fields referenced in Schedule V. On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.
the Trustee (cwhich delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V. Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(vii) and (a)(iia)(viii) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDA Mortgage Loan Trust 2007-Ar7)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (Btherein and(B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Group I Mortgage Loans and the Group II Mortgage Loans;
(ix) the amount of Advances (calculated as of the related Determination Date) for each Certificate Group included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group to date;
(xxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts for each Certificate Group with respect to such Distribution Date;
(xii) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar monthmonth in each Loan Group, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupdate of acquisition thereof;
(xiv) the Realized Losses total number and principal balance of any REO Properties in each Loan Group as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) the aggregate Stated Principal Balance of all Liquidated Loans in each Loan Group as of the preceding Distribution Date;
(xvi) with respect to any Liquidated Loan in each Loan Group, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) with respect to each Loan Group, whether a Group I Trigger Event or a Group II Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class of Group II Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans with respect to each Loan Group which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans in each Loan Group for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan in each Loan Group, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xvxxiv) whether a Trigger Event existsthe amount and purpose of any withdrawal from the Collection Account pursuant to Section 3.08(a)(vii);
(xvixxv) whether a Group II Sequential Trigger Event exists;as of each Distribution Date, the interest rate cap agreement payments that have accrued in favor of or been paid to each class of Certificates for federal income tax purposes under Section 2.07 hereof and the interest rate cap agreement payments that each class of Certificates has accrued an obligation to make or has made for federal income tax purposes; and
(xviixxvi) the amount portion of any Net Swap Payment payable distributions to the Swap AdministratorHolders of Class IIA-1, any Net Swap Payment payable to the Swap ProviderClass IIM-1, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to Class IIM-2 or Class IIB Certificates that are treated as paid by the Holders of the Class P C Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties2.07(e).
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee Servicer will make available send a copy of each statement provided pursuant to this Section 5.06 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(xxvi) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form Forms 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest interest, together with any Non-Supported Interest Shortfalls allocated to each Class, in the aggregate and with respect to the Group A Mortgage Loans and the portion thereof, if any, provided by the Swap Administration AgreementGroup B Mortgage Loans;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Carryforward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in each the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Mortgage Loans serviced by the Servicer;
(xv) whether a Trigger Event existshas occurred;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Certificate Account pursuant to Section 4.07 3.08(a)(v);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest.
(xxiii) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Certificate Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(k) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via Offered Certificates (other than the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Class S Certificates) as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(k) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
(e) The Servicer shall provide a report to the Rating Agencies at the end of each fiscal quarter, which report shall indicate with respect to each Mortgage Loan the terms of which have been modified, its loan number, the date of modification, and a description of such modification.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth -95- for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupaccordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date;
(xiii) the total number and separately identifying principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or similar state laws, respectively, on that Distribution Dateas amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions;
(xxii) with respect to each Class of Certificates, the amount remaining of any Non-Supported Interest Shortfalls on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date;
(xxiii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxiv) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxv) information on the amount withdrawn from of Servicing Advances made or reimbursed during the Pre-Funding Account period;
(xxvi) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxvii) material breaches of pool asset representations or warranties or transaction covenants;
(xxviii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and used to buy Subsequent Mortgage Loans prior to whether the trigger was met; and
(xxix) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such Distribution Date. as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk above-referenced telephone number and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master ServicerTrustee by the Servicer or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record and the NIMs Insurer (upon request), a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-A)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Mortgage Loans;
(ix) the amount of Advances included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the number and aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicers, the Trustee Securities Administrator shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Trustee, the Servicer, the Certificate NIMs Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest interest, together with any Non-Supported Interest Shortfalls allocated to each Class, in the aggregate and with respect to the Group A Mortgage Loans and the portion thereof, if any, provided by the Swap Administration AgreementGroup B Mortgage Loans;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Mortgage Loans serviced by each Servicer;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Mortgage Loans serviced by each Servicer;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in the aggregate and with respect to the Mortgage Loans serviced by each such Loan GroupServicer;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in the aggregate and with respect to the Mortgage Loans serviced by each Servicer;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate and with respect to the Mortgage Loans serviced by each Servicer;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Mortgage Loans serviced by each Servicer;
(xv) whether a Trigger Event existshas occurred;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) the related amount of the PMI Insurer's Fee paid to the PMI Insurer;
(xxi) the related amount of the Credit Risk Manager Fee paid to the Credit Risk Manager;
(xxii) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Certificate Account pursuant to Section 4.07 3.08(a)(v);
(xxiii) the number and Section 4.08, respectively, on that Distribution Dateaggregate Stated Principal Balance of Mortgage Loans covered by the PMI Policy as of the end of the related Due Period;
(xxiv) the amount of any claims paid by the PMI Insurer pursuant to the PMI Policy with respect to principal, the amount remaining on deposit in of any claims paid by the Pre-Funding Account PMI Insurer pursuant to the PMI Policy with respect to interest, the amount of any claims made under the PMI Policy and in the Interest Coverage Accountamount of any claims rejected under the PMI Policy, following each as of such Distribution Date, and ; and
(xxv) the amount withdrawn from the Pre-Funding Account and used of any payments to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties Class of Certificates that are unable to use not treated as payments received in respect of a REMIC Regular Interest or the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partiesMR Interest.
(b) The Trustee’s responsibility for making the above information available Securities Administrator shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIMs Insurer upon written request a copy of each statement provided pursuant any report delivered by a Servicer to this Section 5.06 to each Rating Agencythe Securities Administrator.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Securities Administrator shall cause to be furnished upon request to the NIMs Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.02 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Securities Administrator pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Securities Administrator shall furnish to the Holders of the Residual Class R Certificates and the applicable NIMs Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Trust Agreement (Merrill Lynch Mortgage Investors Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇icer, the Master Servicer, the Certificate NIM Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien date of acquisition thereof, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existsor Stepup Trigger Event has occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Interest Carryover Amount with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Interest Carryover Amount paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Interest Carryover Amount for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) reserved;
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxii) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest; and
(xxiii) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(j) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Offered Certificates as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(j) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIM Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIM Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIM Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Asset Back Certs Ser 2004-Bc2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of Certificateseac▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇, the Master Servicer, the Certificate Insurer, the Credit Risk Manager ▇▇▇ ▇▇rvicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account and Supplemental Interest Reserve Fund, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the Pass-Through Rate for each Class amount of Class A Certificates the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
Liquidation Proceeds included therein; (viii) the amount of Advances the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss and any remaining Class Unpaid Interest Amounts to date;
(x) the number and aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent and (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xi) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable after giving effect to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Providerdistribution;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy of each statement provided pursuant to this Section 5.06 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A15)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate NIM Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Class A, Class R, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 76 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in each the aggregate;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Floating Rate Certificate Carryover with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Floating Rate Certificate Carryover paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Floating Rate Certificate Carryover for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment charges received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) [RESERVED];
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxii) [RESERVED];
(xxiii) [RESERVED];
(xxiv) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest"; and
(xxv) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(j) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Class A, Class R, Class M and Class B Certificates as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(j) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIM Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIM Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIM Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at h▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/▇▇▇▇ to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses in each Loan Group and in the aggregate incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of Applied Realized Loss Amounts to date;
(xxiii) the number of Mortgage Loans in each Loan Group and in the aggregate and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group and the Pool Stated Principal Balance as the first day of the related Due Period and the last day of the related Due Period;
(xiv) as of the last day of the related Due Period:
(A) Delinquent the weighted average mortgage rate of the Mortgage Loans in each Loan Group and in the aggregate, and
(B) the weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and in the aggregate;
(xv) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in each Loan Group and in the aggregate as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvi) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixvii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixviii) the total number and principal balance of any real estate owned or REO Properties in each Loan Group and in the aggregate (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixix) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xx) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxi) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans in each Loan Group and in the aggregate repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxiv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxv) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvi) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxvii) Late Payment Fees collected or waived by the Servicer;
(xxviii) all Prepayment Charges collected, waived, and paid by the Servicer;
(xxix) the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are and in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each case immediately prior to the Stated Principal Balance being reduced to zero);
(xxx) the Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxi) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website2.03. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree. On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.
the Trustee (cwhich delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V. Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(vii) and (a)(iia)(viii) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac INDA Mortgage Loan Trust 2007-Ar4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution DateDate based on information provided by the Servicer, the Trustee shall prepare and make available on its website located at www.jpmorgan.com/sfr to each Holder of Certificatesa Class of Certificates of the ▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇vicer, the Master Servicer, the Certificate NIM Insurer, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of prepayment penalties, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Offered Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer and the amount of investment income earned on funds on deposit in the Certificate Account for the related Due Period;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in each the aggregate;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount of with respect to each Class Certificates any Net Swap Payment payable Floating Rate Certificate Carryover with respect to the Swap Administratorsuch Distribution Date for each such Class, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator Floating Rate Certificate Carryover paid for each such Class and any Swap Termination Payment payable to the Swap Providerremaining Floating Rate Certificate Carryover for each such Class;
(xviii) the amount number and Stated Principal Balance (as of the distribution made on such preceding Distribution Date to Date) of any Mortgage Loans which were purchased or repurchased during the Holders of preceding Due Period and since the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the number of Mortgage Loans for which prepayment penalties were received during the related Prepayment Period and, for each such Mortgage Loan, the amount withdrawn of prepayment penalties received during the related Prepayment Period and in the aggregate of such amounts for all such Mortgage Loans since the Cut-off Date;
(xx) [RESERVED];
(xxi) the amount and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(iv);
(xxii) [RESERVED];
(xxiii) [RESERVED];
(xxiv) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC Regular Interest or REMIC "residual interest"; and
(xxv) as of each Distribution Date, the amount remaining on deposit amount, if any, to be deposited in the Pre-Funding Cap Contract Account and pursuant to the Cap Contract as described in the Interest Coverage Account, following such Distribution Date, Section 4.04(j) and the amount withdrawn from the Pre-Funding Account and used thereof to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and be paid to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance Offered Certificates as described in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇Section 4.04(j) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available Servicer shall deliver to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available NIM Insurer a copy of each statement provided pursuant any report delivered by the Servicer to this Section 5.06 to each Rating Agencythe Trustee.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to the NIM Insurer and each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIM Insurer the Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors, Inc. Series 2005-Bc1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies and the Depositor a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Trust, information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each class of the Class of A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all Liquidated Loans as of the preceding monthDistribution Date;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Cap Contract Account pursuant to the related Cap Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Class A-2 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, Swap Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, Swap Counterparty or any other party and the Trustee shall be entitled to rely conclusively upon and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates Class R Certificate and the applicable NIMs Insurer each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2006-He2)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 days Delinquent and 61 to 90 days, (3) 90 91 or 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (6) 181 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 days Delinquent and 61 to 90 days, (3) 90 91 or 120 days, (4) 121 to 150 days, (5) 151 to 180 days and (6) 181 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date Date, in the aggregate and separately identifying such information for with respect to the (1) first lien Group One Mortgage Loans and Group Two Mortgage Loans;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date, (2) second lien in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate and with respect to the Group One Mortgage Loans and Group Two Mortgage Loans;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Prepayment Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans prepaid in full for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of Cut-off Date, and for partial Principal Prepayments, the Class P Certificates allocable to Prepayment Charges; andamount received during the preceding calendar month;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the related Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class 1-A Certificates, the Class 2-A Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date, ;
(xxiv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate and with respect to the Group One Mortgage Loans and the Group Two Mortgage Loans;
(xxv) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvi) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxvii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxviii) information on the amount of Servicing Advances made or reimbursed during the period;
(xxix) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxx) material breaches of pool asset representations or warranties or transaction covenants;
(xxxi) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk above-referenced telephone number and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-5)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee Servicer shall prepare and make cause to be forwarded or made available on its designee's website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each Holder of Certificatesa Class of Certificates of the Trust Fund, the Master Servicer, the Certificate Insurer, the Credit Risk Manager NIMs Insurer and the Depositor a statement setting forth for the Certificates:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), (D) the aggregate amount of prepayment penalties, if any and (E) the aggregate amount of late payment charges;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the any Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of CertificatesCarryforward Amount;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for the related Due PeriodServicer;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the Net Mortgage Rates for each of the Mortgage Loans;
(ix) the amount of Advances (calculated as of the related Determination Date) included in the distribution on such Distribution Date;
(ixx) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(xxi) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xii) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDate;
(xixiii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupdate of acquisition thereof;
(xiv) the Realized Losses total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xv) the aggregate Stated Principal Balance of all Liquidated Loans as of the preceding Distribution Date;
(xvi) with respect to any Liquidated Loan, the loan number and Stated Principal Balance relating thereto as of the preceding Distribution Date;
(xvii) whether a Trigger Event has occurred;
(xviii) with respect to each Class of Certificates, any Interest Carryforward Amount with respect to such Distribution Date for each such Class, any Interest Carryforward Amount paid for each such Class and any remaining Interest Carryforward Amount for each such Class;
(xix) with respect to each Class Certificates any Interest Carryover Amount with respect to such Distribution Date for each such Class, any Interest Carryover Amount paid for each such Class and any remaining Interest Carryover Amount for each such Class;
(xx) the number and Stated Principal Balance (as of the preceding Distribution Date) of any Mortgage Loans which were purchased or repurchased during the preceding Due Period and since the Cut-off Date;
(xxi) the aggregate number of Mortgage Loans (a) which have been modified, (b) which are subject to a deed-in-lieu of foreclosure and (c) for which a short-payoff has occurred;
(xxii) the year-to-date numbers for 4.05
(a) (xxi)(a), (b) and (c) above, by number of loans;
(xxiii) the number of Mortgage Loans for which prepayment penalties or late payment fees were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of prepayment penalties and late payment fees received during the related Prepayment Period and in the cumulative Realized Losses through aggregate of such amounts for all such Mortgage Loans since the end of the preceding monthCut-off Date;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxiv) the amount and purpose of any Net Swap Payment payable withdrawal from the Collection Account pursuant to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;Section 3.08(a)(vii); and
(xviiixxv) the amount portion of the distribution made on such Distribution Date any distributions to Holders of Class A, Class M-1, Class M-2 or Class B Certificates that are treated as paid by the Holders of the Class P C Certificates allocable to Prepayment Charges; and
(xix) the amount withdrawn from the Pre-Funding Account and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format2.07(d) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above partieshereof.
(b) The Trustee’s responsibility for making the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee Servicer will make available send a copy of each statement provided pursuant to this Section 5.06 4.05 to each Rating Agency.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee Servicer shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(i), (a)(ii) and (a)(iia)(xxv) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee Servicer pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee Servicer shall furnish to the Holders of the Residual Class R Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate Class R Certificates with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.11.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Funding Inc)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at https://www.tss.db.com/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager and the Depositor ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇r a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account and Supplemental Interest Reserve Fund, as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupbeing reduced to zero);
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xviixxxi) the amount of any Net Swap Payment payable payments made by the Cap Counterparty to the Swap Administrator, any Net Swap Payment payable to Trust Fund under the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCorridor Contract;
(xviiixxxii) the amount Stated Principal Balance of any Mortgage Loan that has been repurchased by the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment ChargesServicer in accordance with Section 2.02, 2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, 2.03.By each Determination Date the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and Servicer shall provide to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance ▇ in using electronic form the website can information needed to determine the distributions to be obtained by calling made pursuant to Section 4.02 and any other information on which the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use Servicer and the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchTrustee mutually agree. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy .
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A1)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/investpublic to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to date[reserved];
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days,
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent days and
(C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentthat were the subject of a Loan Modification during the preceding 12month period, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each Mortgage Loan that has been the subject of a Loan Modification since the Closing Date, the modified Mortgage Rate and the Mortgage Rate as in effect at the Cut-off Date;
(xviii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) Delinquent sixty (60) days or more on the Due Date in each such month;
(xixix) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixx) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixxi) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxii) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxiii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxvi) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvii) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxviii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Dates;
(xxix) Hard Prepayment Charges, Soft Prepayment Charges and Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) [reserved];
(xxxii) the aggregate Stated Principal Balance of all any Mortgage Loan that has been repurchased by the Servicer in accordance with Section 2.02, 2.03 or 3.12;
(xxxiii) the Stated Principal Balance of any Substitute Mortgage Loan provided by the Seller and the Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 2.03; and
(xxxiv) the percentage (by Stated Principal Balance) and number of Mortgage Loans subject to a Loan Modification during the prior month by modification type (interest rate, balloon extension and balloon reset modifications);
(xxxv) the percentage (by Stated Principal Balance) and number of Mortgage Loans subject to a Loan Modification (x) since the Closing Date and (y) during the preceding 12-month period, in each case by modification type (interest rate, balloon extension and balloon reset modifications);
(xxxvi) the percentage (by Stated Principal Balance) of Mortgage Loans subject to a Loan Modification for which the Mortgagor has made its cumulative Scheduled Payments for the 12-month period immediately following the date of the modification;
(xxxvii) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans in such subject to a Loan Group in each case Modification since the Closing Date as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding calendar month;:
(xvA) whether a Trigger Event exists;Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 days or more,
(xviB) whether a Group II Sequential Trigger Event exists;in foreclosure and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, and
(xviiC) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Chargescurrent; and
(xixxxxviii) the aggregate amount withdrawn from of Capitalized Advances reimbursed to the Pre-Funding Account Servicer (x) since the Closing Date and the Interest Coverage Account pursuant to Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit (y) in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Datemonth. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. By the Reporting Date, the Servicer shall provide to the Trustee in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree. The Trustee will Servicer shall make available to the Rating Agencies on its website at ▇▇▇▇://▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/BondIR/investor/login monthly loan level information. Such data at a copy minimum shall contain the fields referenced in Schedule V.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (IndyMac IMJA Mortgage Loan Trust 2007-A4)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Determination Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Determination Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Determination Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) the Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) the Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Dates;
(xxviii) Prepayment Charges collected or waived by the Servicer;
(xxix) Late Payment Fees collected or waived by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) [reserved];
(xxxii) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account pursuant to Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 4.07 and Section 4.08, respectively, on that Distribution Date, the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date2.03. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The By the Reporting Date, the Servicer shall provide to the Trustee will make available a copy in electronic form the information needed to determine the distributions to be made pursuant to Section 4.02 and any other information on which the Servicer and the Trustee mutually agree.
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A9)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerTrustee, the Credit Risk Manager Rating Agencies, the Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution DateDate or reimbursed during the period;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information in accordance with the OTS methodology for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupreporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying the date of acquisition thereof;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan GroupDistribution Date;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the Class A-1 Certificates, the Subordinate Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date;
(xxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act or the California Military and Veterans Code, as amended; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk Trustee at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness and the Trustee shall be entitled to rely conclusively on the accuracy of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Class R Certificate each Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ffa)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Holder of Certificatesa Class of Certificates of the Issuing Entity, the Master Servicer, the Certificate InsurerRating Agencies, the Credit Risk Manager Depositor, the Cap Contract Counterparty and the Depositor Swap Counterparty a statement setting forth for the CertificatesCertificates the following information; provided, however, that with respect to any calendar year during which an annual report on Form 10-K is not required to be filed with the Commission on behalf of the Issuing Entity, the information set forth in Items (xxiv) through (xxxiii) below are not required to be included in such statement during any calendar year:
(i) the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and therein, (C) the Extra Principal Distribution Amount (Amount, if any), and (D) the aggregate amount of Prepayment Charges, if any;
(ii) the amount of such distribution to Holders of each Class A Certificates and Class M Certificates allocable to interest and the portion thereofinterest, if any, provided by the Swap Administration Agreementtogether with any Non-Supported Interest Shortfalls allocated to each Class;
(iii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward interest Carryforward Amount for each Class of the Class A, Class M and Class B Certificates;
(iv) the Class Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate of the Pool Stated Principal Balance of (A) all of the Mortgage Loans in for such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution Date;
(vi) the related amount of the Servicing Fees Fee paid to or retained by the Master Servicer for and any amounts constituting reimbursement or indemnification of the related Due PeriodServicer or Trustee;
(vii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether for such Pass-Through Rate was limited by the applicable Net Rate CapDistribution Date;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate;
(x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Distribution Date, in the aggregate;
(xi) the number and aggregate Stated Principal Balance principal amounts of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquentdays, and (B) in foreclosure and delinquent and Delinquent (1) 30 days Delinquent31 to 60 days, (2) 60 61 to 90 days Delinquent and (3) 90 days 91 or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage LoansDate, in each such Loan Groupthe aggregate in accordance with the OTS methodology for reporting delinquencies;
(xixii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, of such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xii) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date;
(xiii) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loansdate of acquisition thereof, in each the aggregate;
(xiii) the total number and principal balance of any REO Properties as of the close of business on the last day of the calendar month preceding such Loan GroupDistribution Date, in the aggregate;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end aggregate Stated Principal Balance of all loans that became Liquidated Loans as of such Distribution Date calculated as of the preceding monthDistribution Date, in the aggregate;
(xv) whether a Stepdown Trigger Event existshas occurred and is in effect;
(xvi) whether a Group II Sequential Trigger Event existswith respect to each Class of Certificates, any Interest Carry Forward Amount with respect to such Distribution Date for each such Class, any Interest Carry Forward Amount paid for each such Class and any remaining Interest Carry Forward Amount for each such Class;
(xvii) the amount number and Stated Principal Balance (as of the preceding Distribution Date) of any Net Swap Payment payable to Mortgage Loans which were purchased or repurchased during the Swap Administrator, any Net Swap Payment payable to preceding Due Period and since the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap ProviderCut-off Date;
(xviii) the number of Mortgage Loans for which Prepayment Charges were received during the related Prepayment Period and, for each such Mortgage Loan, the amount of Prepayment Charges received during the distribution made on related Prepayment Period and in the aggregate of such Distribution Date to amounts for all such Mortgage Loans since the Holders of the Class P Certificates allocable to Prepayment Charges; andCut-off Date;
(xix) the amount withdrawn and purpose of any withdrawal from the Pre-Funding Account and the Interest Coverage Collection Account pursuant to Section 4.07 3.08(a)(viii);
(xx) the amount of any payments to each Class of Certificates that are treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest" and Section 4.08, respectively, on the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC "regular interest" or REMIC "residual interest";
(xxi) as of each Distribution Date, the amount, if any, to be deposited in the Issuing Entity pursuant to the Corridor Contract as described in Section 4.04(k) and the amount thereof to be paid to the LIBOR Certificates and the Class C Certificates described in Section 4.04(k) hereof;
(xxii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Cap Contract as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiii) as of each Distribution Date, the amount, if any, to be deposited in the Supplemental Interest Trust pursuant to the Swap Agreement as described in Section 4.04(l) and the amount thereof to be paid to the Certificates;
(xxiv) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on deposit in each Class of the Pre-Funding Account Class A, Class M and in the Interest Coverage Account, following Class B Certificates on such Distribution Date, ;
(xxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Relief Act; and the amount withdrawn from the Pre-Funding Account and used of interest not required to buy Subsequent be paid with respect to any such Mortgage Loans prior during the related Due Period as a result of such reductions in the aggregate;
(xxvi) with respect to each Class of Certificates, the amount of any Non-Supported Interest Shortfalls on such Distribution Date. ;
(xxvii) the number and amount of pool assets at the beginning and ending of each period, and updated pool composition information;
(xxviii) any material changes to methodology regarding calculations of delinquencies and charge-offs;
(xxix) information on the amount of any Servicing Advances made or reimbursed during the period;
(xxx) any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time;
(xxxi) material breaches of pool asset representations or warranties or transaction covenants;
(xxxii) information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met; and
(xxxiii) information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
(b) The Trustee may will make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders Certificateholders, other parties to this Agreement and to the Certificate Insurer any other interested parties via the Trustee’s internet 's Internet website. The Trustee’s internet 's Internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”". Assistance in using the website can be obtained by calling the Trustee’s customer service desk , who may be reached directly at (▇▇▇) ▇▇▇-▇▇▇▇ ▇. Parties that are unable to use the above distribution options website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may shall have the right to change the way Monthly Statements the monthly statements to Certificateholders are distributed in order to make such distributions distribution more convenient or and/or more accessible to the above parties.
(b) parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee’s responsibility for making foregoing information and reports shall be prepared and determined by the above Trustee based on Mortgage Loan data and other information available provided to the Certificateholders is limited Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information hereunder. In preparing or furnishing the availabilityforegoing information, timeliness the Trustee shall be entitled to rely conclusively on the accuracy and accuracy completeness of the information derived from or data provided to the Master Trustee by the Servicer, the Swap Counterparty, the Cap Contract Counterparty or any other third party required to deliver information and shall have no liability for any errors in any such information. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will make available a copy not be liable for the dissemination of each statement provided pursuant to information in accordance with this Section 5.06 to each Rating AgencyAgreement.
(c) Within If so requested in writing within a reasonable period of time after the end of each calendar year, the Trustee shall make available on its website or cause to be furnished upon request to each Person who at any time during the calendar year was a CertificateholderCertificateholder of record, a statement containing the information set forth in clauses (a)(i) and (a)(ii) of this Section 5.06 4.05 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and Class R Certificate each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Class R Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class Class of Regular Interests regular and Residual Interests residual interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class Class of Regular Interests regular or Residual Interests residual interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses losses realized with respect to the Mortgage Loans or the Regular Interests regular interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC the REMICs with respect to such Regular Interests regular interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMICthe REMICs; and
(vii) Any taxes (including penalties and interest) imposed on the REMICREMICs, including, without limitation, taxes on “"prohibited transactions,” “" "contributions” " or “"net income from foreclosure property” " or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.128.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He3)
Monthly Statements to Certificateholders. (a) Not later than each Distribution Date, the Trustee shall prepare and make available on its website at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/invr to each Holder of CertificatesCertificateholder, the Master Servicer, the Certificate Insurer, the Credit Risk Manager Servicer and the Depositor a statement setting forth for the Certificatesrelated distribution of:
(i) the amount of applicable Record Dates, Interest Accrual Periods and Determination Dates for calculating distributions for the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any)Date;
(ii) the amount of such distribution to Holders funds received from the Servicer for the Distribution Date separately identifying amounts received in respect of each Class A Certificates and Class M Certificates allocable to interest the Mortgage Loans and the portion thereof, if any, provided by amount of Advances included in the Swap Administration Agreementdistribution on the Distribution Date;
(iii) the Interest Carry Forward Amount Servicing Fee and the amounts of any Basis Risk Shortfall Carry Forward Amount additional servicing compensation received by the Servicer attributable to penalties, fees, Excess Proceeds or other similar charges or fees and items with respect to the Distribution Date, and, with respect to Lender PMI Loans, the interest premium charged the related borrower for each Class of Certificatesprimary mortgage guaranty insurance;
(iv) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) Trustee Fee for the allocation of any Applied Realized Loss Amounts for such Distribution Date;
(v) for each Loan Group, the aggregate amount of expenses paid from amounts on deposit in the Stated Principal Balance of (A) all of the Mortgage Loans in such Loan Group, (B) the first lien Mortgage Loans in such Loan Group, (C) the second lien Mortgage Loans in such Loan Group, and (D) the Adjustable Rate Mortgage Loans in such Loan Group, for the following Distribution DateAccount;
(vi) the related aggregate amount on deposit in the Distribution Account as of the Servicing Fees paid to or retained by the Master Servicer for beginning and end of the related Due Period;
(vii) the amount of the distribution allocable to principal, separately identifying the aggregate amount of any Principal Prepayments and Liquidation Proceeds included therein;
(viii) the amount of the distribution allocable to interest, any Class Unpaid Interest Amounts included in the distribution and any remaining Class Unpaid Interest Amounts after giving effect to the distribution;
(ix) if the distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to them if sufficient funds were available, the amount of the shortfall and the allocation of the shortfall between principal and interest;
(x) the aggregate amount of Realized Losses incurred and Subsequent Recoveries, if any, received during the preceding calendar month and aggregate Realized Losses through the Distribution Date;
(xi) the Class Certificate Balance or Notional Amount of each Class of Certificates before and after giving effect to the distribution of principal on the Distribution Date;
(xii) the Pass-Through Rate for each Class of Class A Certificates and Class M Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the applicable Net Rate Cap;
(viii) the amount of Advances included in the distribution on such Distribution Date;
(ixxiii) the cumulative amount of Applied Realized Loss Amounts to dateLIBOR rate applicable for that Distribution Date;
(xxiv) the number of Mortgage Loans and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as the first day of the related Due Period and the last day of the related Due Period;
(xv) as of the last day of the related Due Period:
(A) Delinquent the weighted average Mortgage Rate of the Mortgage Loans, and
(B) the weighted average remaining term to maturity of the Mortgage Loans;
(xvi) the number and aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the end of the preceding calendar month:
(A) delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcyforeclosure) (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent, days and
(B) in foreclosure and delinquent and (1) 30 days Delinquentto 59 days, (2) 60 to 89 days Delinquent and (3) 90 days or more Delinquent (C) in bankruptcy and delinquent(1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquentdays, in each case as of the close of business on the last day of the calendar month preceding such the Distribution Date;
(xvii) for each of the preceding 12 calendar months, or all calendar months since the Cut-off Date, whichever is less, the aggregate dollar amount of the Scheduled Payments (A) due on all Outstanding Mortgage Loans on the Due Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Groupmonth and (B) delinquent sixty (60) days or more on the Due Date in each such month;
(xixviii) with respect to any Mortgage Loan that was liquidated became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such of the Mortgage Loan as of the close of business on the Determination Date preceding such the Distribution Date;
(xiixix) the total number and principal balance of any real estate owned or REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such the Distribution Date;
(xiiixx) the three month rolling average aggregate amount of Principal Prepayments received during the related Prepayment Period and the number of Mortgage Loans subject to such Principal Prepayments;
(xxi) the amount of Advances included in the distribution on the Distribution Date and the aggregate amount of Advances outstanding as of the percent equivalent close of a fractionbusiness on the Distribution Date;
(xxii) the aggregate amount of Advances reimbursed during the related Due Period, the numerator general source of which is funds for such reimbursements and the aggregate amount of Advances outstanding as of the close of business on the Distribution Date;
(xxiii) the aggregate amount of Servicing Advances reimbursed during the related Due Period, the general source of funds for such reimbursements and the aggregate amount of Servicing Advances outstanding as of the close of business on the Distribution Date;
(xxiv) the aggregate number and outstanding Stated Principal Balance of Mortgage Loans repurchased during the related Due Period due to material breaches of representations and warranties regarding such Mortgage Loans;
(xxv) each Senior Prepayment Percentage and Subordinated Prepayment Percentage for the Distribution Date;
(xxvi) each Senior Percentage and Subordinated Percentage for the Distribution Date;
(xxvii) the Special Hazard Loss Coverage Amount, the Fraud Loss Coverage Amount and the Bankruptcy Loss Coverage Amount, in each case as of the related Determination Date;
(xxviii) with respect to the second Distribution Date, the number and aggregate balance of any Delayed Delivery Mortgage Loans not delivered within the time periods specified in the definition of Delayed Delivery Mortgage Loans;
(xxix) Prepayment Charges collected, waived, and paid by the Servicer;
(xxx) the aggregate Stated Principal Balance of the Mortgage Loans that became Liquidated Mortgage Loans in the prior month and since the Cut-off Date (in each Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and case immediately prior to the denominator of which is Stated Principal Balance being reduced to zero);
(xxxi) [reserved];
(xxxii) the aggregate Stated Principal Balance of all of any Mortgage Loan that has been repurchased by the Mortgage Loans Servicer in such Loan Group in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loansaccordance with Section 2.02, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiv) the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month;
(xv) whether a Trigger Event exists;
(xvi) whether a Group II Sequential Trigger Event exists;
(xvii) the amount of any Net Swap Payment payable to the Swap Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Swap Administrator and any Swap Termination Payment payable to the Swap Provider;
(xviii) the amount of the distribution made on such Distribution Date to the Holders of the Class P Certificates allocable to Prepayment Charges2.03 or 3.12; and
(xixxxxiii) the amount withdrawn from Stated Principal Balance of any Substitute Mortgage Loan provided by the Pre-Funding Account Seller and the Interest Coverage Account Stated Principal Balance of any Mortgage Loan that has been replaced by a Substitute Mortgage Loan in accordance with Section 2.03. By each Determination Date, the Servicer shall provide the Trustee in electronic form information needed to determine the distributions to be made pursuant to Section 4.07 4.02 and Section 4.08, respectively, any other information on that Distribution Date, which the amount remaining on deposit in the Pre-Funding Account and in the Interest Coverage Account, following such Distribution Date, Servicer and the amount withdrawn from the Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date. The Trustee may make the foregoing Monthly Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and to the Certificate Insurer via the Trustee’s internet websitemutually agree. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇ Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee may change the way Monthly Statements are distributed in order to make such distributions more convenient or more accessible to the above parties.
(b) The Trustee’s 's responsibility for making disbursing the above information available to the Certificateholders is limited to the availability, timeliness and accuracy of the information derived from the Master Servicer. The Trustee will make available a copy .
(b) On or before the fifth Business Day following the end of each statement provided pursuant Prepayment Period (but in no event later than the third Business Day prior to this Section 5.06 the related Distribution Date), the Servicer shall deliver to each Rating Agency.the Trustee (which delivery may be by electronic data transmission) a report in substantially the form set forth as Schedule V.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall cause to be furnished upon request to each Person who at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (a)(ia)(v) and (a)(iia)(vi) of this Section 5.06 4.06 aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.
(d) Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the applicable Form 1066 and each applicable Form 1066Q and shall respond promptly to written requests made not more frequently than quarterly by any Holder of a Residual Certificate with respect to the following matters:
(i) The original projected principal and interest cash flows on the Closing Date on each Class of regular and residual interests created hereunder and on the Mortgage Loans, based on the Prepayment Assumption;
(ii) The projected remaining principal and interest cash flows as of the end of any calendar quarter with respect to each class of Regular Interests and Residual Interests created hereunder and the Mortgage Loans, based on the Prepayment Assumption;
(iii) The applicable Prepayment Assumption and any interest rate assumptions used in determining the projected principal and interest cash flows described above;
(iv) The original issue discount (or, in the case of the Mortgage Loans, market discount) or premium accrued or amortized through the end of such calendar quarter with respect to each class of Regular Interests or Residual Interests created hereunder and to the Mortgage Loans, together with each constant yield to maturity used in computing the same;
(v) The treatment of Realized Losses with respect to the Mortgage Loans or the Regular Interests created hereunder, including the timing and amount of any cancellation of indebtedness income of a REMIC with respect to such Regular Interests or bad debt deductions claimed with respect to the Mortgage Loans;
(vi) The amount and timing of any non-interest expenses of a REMIC; and
(vii) Any taxes (including penalties and interest) imposed on the REMIC, including, without limitation, taxes on “prohibited transactions,” “contributions” or “net income from foreclosure property” or state or local income or franchise taxes. The information pursuant to clauses (i), (ii), (iii) and (iv) above shall be provided by the Depositor pursuant to Section 9.12.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2007-A3)