Common use of Reports to Master Servicer Clause in Contracts

Reports to Master Servicer. On or before the sixteenth calendar day of each month, the Servicer shall furnish to the Master Servicer electronically in a format acceptable to the Master Servicer loan accounting reports in the investor’s assigned loan number order to document the payment activity on each HELOC on an individual mortgage loan basis. With respect to each month, such loan accounting reports shall be in the format agreed to by the Servicer and the Master Servicer, including but not limited to the following information with respect to each HELOC: (i) with respect to each Monthly Payment (on an actual basis with respect to HELOC balances and paid-through dates), the amount of such remittance allocable to principal (including a separate breakdown of any Principal Prepayment, including the amount of any Interest Shortfall); (ii) with respect to each Monthly Payment, the amount of such remittance allocable to interest; (iii) the amount of servicing compensation received by the Servicer during the prior calendar month; (iv) the aggregate principal balance of the HELOCs; (v) the aggregate of any expenses reimbursed to the Servicer during the prior calendar month pursuant to Section 5.03; (vi) the aggregate Additional Balances and Additional Balance Advance Amounts created during the prior calendar month; and (vii) the number and aggregate Outstanding Principal Balances of HELOCs (a) delinquent, exclusive of HELOCs in foreclosure, (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and Delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Payment Date. The Master Servicer shall be entitled to rely conclusively on the HELOC data provided by the Servicer and shall have no liability for any errors in such HELOC data.

Reports to Master Servicer. On or before the sixteenth tenth calendar day of each month, the Servicer Company shall furnish to the Master Servicer electronically in a format acceptable to the Master Servicer loan accounting reports in the investor’s assigned loan number order to document the payment activity on each EMC HELOC on an individual mortgage loan basis. With respect to each month, such loan accounting reports shall be in the format agreed to by the Servicer Company and the Master Servicer, including but not limited to the following information with respect to each EMC HELOC: (i) with respect to each Monthly Payment (on an actual basis with respect to HELOC balances and paid-through dates), the amount of such remittance allocable to principal (including a separate breakdown of any Principal Prepayment, including the amount of any Interest Shortfall); (ii) with respect to each Monthly Payment, the amount of such remittance allocable to interest; (iii) the amount of servicing compensation received by the Servicer Company during the prior calendar month; (iv) the aggregate principal balance of the EMC HELOCs; (v) the aggregate of any expenses reimbursed to the Servicer Company during the prior calendar month pursuant to Section 5.035.02; (vi) the aggregate Additional Balances and Additional Balance Advance Amounts created during the prior calendar month; and (vii) the number and aggregate Outstanding Principal Balances outstanding principal balances of EMC HELOCs (a) delinquent, exclusive of EMC HELOCs in foreclosure, (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and Delinquent delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days and (C) in bankruptcy and Delinquent delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding such Payment Date. The Master Servicer and the Securities Administrator shall be entitled to rely conclusively on the HELOC data provided by the related Servicer and shall have no liability for any errors in such HELOC data.