Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100: (i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date; (ii) the amount of the distribution allocable to principal on each applicable Class of Certificates; (iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period; (iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates; (v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date; (vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date; (vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date; (viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution; (ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution; (x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan; (xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date; (xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period; (xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month; (xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period; (xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available; (xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates; (xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date; (xix) the Average Loss Severity Percentage; and (xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. (b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution charged to Certificateholders, the Securities Administrator Certificate Account on a Distribution Date the Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth belowon its web site, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇▇://▇▇▇-▇▇▇▇.▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable .▇▇▇/invr, a written statement (a "Statement to use Certificateholders") setting forth the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible following information with respect to the parties, and Offered Certificates:
(a) the Securities Administrator shall provide timely and adequate notification amount of the distribution with respect to all parties regarding any such change.each Class of Certificates (based on a Certificate in the original principal amount of $1,000);
(b) the amount of such distribution allocable to principal on the related Mortgage Loans, separately identifying the aggregate amount of any Prepayments or other recoveries of principal included therein;
(c) the amount of such distribution allocable to interest on the related Mortgage Loans identifying the aggregate amount of any prepayment or other recoveries of principal included therein;
(d) the Class Monthly Interest Amount and Class Interest Carryover Shortfall for each Class of Certificates;
(e) the outstanding Certificate Principal Balance of each Class of Offered Certificates (based on a Certificate in the original principal amount of $1,000) that will be outstanding after giving effect to any payment of principal on such Distribution Date;
(f) the aggregate of the Principal Balances of all Mortgage Loans after giving effect to any payments of principal on such Distribution Date;
(g) based upon information furnished by the Servicer, such information as may be required by Section 6049(d)(7)(C) of the Code and the regulations promulgated thereunder to assist the Certificateholders in computing their market discount;
(h) the total of all amounts paid by the Seller and the Servicer during the related Collection Period in connection with purchases or repurchases from the Trust of Mortgage Loans and substitutions for Mortgage Loans of Qualified Replacement Mortgage Loans;
(i) the weighted average Mortgage Loan Rate of the Mortgage Loans;
(j) whether a Delinquency Event or a Cumulative Loss Event has occurred and, if so, what event;
(k) the amount of any Excess Interest included in such distribution;
(l) the Overcollateralization Amount, Required Overcollateralization Amount and Applied Realized Loss Amount, both in the aggregate and with respect to each applicable Class, for such Distribution Date;
(m) the Basic Principal Amount with respect to the Mortgage Loans;
(n) the amount of any Net Rate Cap Carryover paid and remaining unpaid as of such Distribution Date;
(o) the Capitalized Interest Requirement and amounts remaining in the Prefunding Account and Capitalized Interest Account each as of such Distribution Date;
(p) the amount of any draw to be made on any PMI Policy on the related Distribution Date, and the amounts to be paid to the PMI Insurer, if any, as of such Distribution Date in respect of the PMI Insurer Premiums with respect to each PMI Mortgage Loan;
(q) the number of Mortgage Loans and the aggregate of their Principal Balances as a percentage of the Pool Balance, that as of the end of the immediately preceding calendar month are (i) 30 to 59 days delinquent, (ii) 60 to 89 days delinquent, (iii) 90 or more days delinquent, (iv) the subject of bankruptcy proceedings (to the actual knowledge of the Servicer), (v) in foreclosure and (vi) as to which the related Mortgaged Property is REO Property; and
(r) the Certificate Principal Balance of each Class of Certificates then outstanding after giving effect to all payments or principal on such Distribution Date. In the case of information furnished pursuant to subclauses (a), (b), (c) and (d) above, the amounts shall be expressed as a dollar amount per Certificate with a $1,000 principal denomination. Within a reasonable period of time 90 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a Trustee shall mail such report to Greenwich Capital Markets, Inc., ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇ ▇▇▇▇▇▇ (which report shall include, in addition to the information contained in reports to others hereunder, the total amount of interest on the Mortgage Loans for the period covered by such report), and to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was an Offered Certificateholder, a statement for each Certificateholder containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iia) and through (a)(vc) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year or, in the case of each Person who was an Offered Certificateholder for a portion of such calendar year. Such obligations shall be deemed to have been satisfied to , setting forth such information for each month thereof for the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements portion of the Codeyear during which such Person was a Certificateholder. The Servicer shall provide any other information necessary in order to report income in respect of the Certificateholders for federal income tax purposes.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1), Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1)
Statements to Certificateholders. (a) On Prior to the Distribution Date in each Distribution Datemonth, concurrently based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with each distribution respect to Certificateholderssubsections (xxii) and (xxiii) below, after consultation with the Depositor, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, determine the following information, expressed information with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100such Distribution Date:
(i) the Current Principal Amount and/or Notional Amount of actual Distribution Date, the related Record Date, the Rate Determination Date and the Interest Accrual Period for each Class of Certificates immediately prior to for such Distribution Date;
(ii) for each Loan Group, the amount of the distribution allocable to principal on each applicable Class of Certificatesrelated Pool Distribution Amount;
(iii) for each Loan Group, the amount of the Pool Distribution Amount allocable to principal, separately identifying the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodany Principal Prepayments, Liquidation Proceeds and other components included therein;
(iv) for each Loan Group, the Net amount of the Pool Distribution Amount allocable to interest, the Accrual Distribution Amount, any Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall included in such distribution and any other adjustments remaining Class Unpaid Interest Shortfall and Component Unpaid Interest Shortfall after giving effect to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatessuch distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the distribution allocable to interest on shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates and the Component Balance of each Component before and after giving effect to the distribution of principal on such Distribution Date;
(vii) for each Loan Group, the Pool Stated Principal Balance for the preceding Distribution Date and the related Distribution Date;
(viii) for each Loan Group, the Senior Percentage, the Total Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage, the Aggregate Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(viix) the amount of the Servicing Fee paid to or retained by each Servicer with respect to each Loan Group and such Distribution Date;
(x) the Pass-Through Rates Rate for each such Class of Certificates and each IO Component with respect to such Distribution Date;
(viixi) the Current Principal Amount and/or Notional Amount amount of each Class Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Certificates after Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(viiixii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment PeriodGroup, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and aggregate principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number amounts of Mortgage Loans (excluding REO PropertyA) remaining in the Trust Fund as of the end of the related Prepayment Period;
delinquent (xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance exclusive of Mortgage Loans (ain foreclosure or bankruptcy) delinquent 1 to 30 days, 31 to 59 60 days, 61 to 90 days on a contractual basisand 91 or more days, (bB) delinquent 60 to 89 days on a contractual basisin foreclosure, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately calendar month preceding such Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xiii) for each Loan Group, with respect to any Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans and the aggregate Stated Principal Balance of such Mortgage Loans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xiv) for each Loan Group, the total number and principal balance of Mortgage Loans in the foreclosure process any REO Properties (and market value, if available) as of the end close of business on the related Due Period and the aggregate Outstanding Principal Balance of Determination Date preceding such Mortgage LoansDistribution Date;
(xv) for each Loan Group, the number aggregate amount of Realized Losses incurred during the preceding calendar month and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Periodfor each Group or any PO Deferred Amounts for such Distribution Date;
(xvi) the book value (Notional Amount for each Class of Interest Only Certificates and the sum of (A) the Outstanding Principal Balance of Notional Amount for each IO Component for such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) for each Loan Group, the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution DatesReimbursement Amount;
(xviii) for each Loan Group, the amount withdrawn from of Recoveries, the Class A/B Reserve Fund PO Recovery and the Non-PO Recovery;
(with respect xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the first three distribution dates only), on that previous Distribution Date;
(xixxxi) for each Loan Group, the number and aggregate Stated Principal Balance of the Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term to maturity of the Mortgage Loans, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xxii) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(xxiii) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice;
(xxiv) the Average Loss Severity PercentageYield Maintenance Agreement Payment paid to the Class 3-A-1 Certificates; and
(xxxxv) a statement as to whether any exchanges of Exchangeable or Exchangeable REMIC Certificates have taken place since the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such preceding Distribution Date. The information set forth above shall be calculated , and, if applicable, the Class designations, Class Certificate Balances, Notional Amounts, Pass Through Rates, and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or reported, as the case may be, Exchangeable Certificates that were received by the Securities AdministratorCertificateholder as a result of such exchange. For all purposes of this Agreement, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to any Mortgage Loan, delinquencies shall be determined and reported based on the Certificatesso-called "MBA" methodology for determining delinquencies on mortgage loans similar to the Mortgage Loans. By way of example, plus information a Mortgage Loan would be delinquent with respect to the amount of servicing compensation and a Monthly Payment due on a Due Date if such other customary information as the Securities Administrator may determine to be necessary and/or to be required Monthly Payment is not made by the Internal Revenue Service or by close of business on the Mortgage Loan's next succeeding Due Date, and a federal or state law or rules or regulations Mortgage Loan would be more than 30-days delinquent with respect to enable such Holders to prepare their tax returns for Monthly Payment if such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided Monthly Payment were not made by the Securities Administrator pursuant to close of business on the requirements of the CodeMortgage Loan's second succeeding Due Date.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Banc of America Funding 2006-6 Trust)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) and Subsequent Recoveries during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the related Mortgage Loan, Loan and (B) accrued interest through the date of foreclosure and foreclosure, minus (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity then applicable Group I Senior Percentage, Group II Senior Percentage and Group III Senior Percentage, Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage and Group III Senior Prepayment Percentage, Group I Senior Mezzanine and Subordinate Percentage, Group II Senior Mezzanine and Subordinate Percentage and Group III Senior Mezzanine and Subordinate Percentage and Group I Senior Mezzanine and Subordinate Prepayment Percentage, Group II Senior Mezzanine and Subordinate Prepayment Percentage and Group III Senior Mezzanine and Subordinate Prepayment Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, amount of any Subsequent Recovery for such Distribution DateDate and the amount by which the Current Principal Amount of each Class of Subordinate Certificates was increased as a result thereof. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.initially
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2004-Ar2), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator Servicer shall make available provide to the parties hereto and Trustee for the Trustee to forward to each Certificateholder via of record as of the Securities Administrator’s internet website as set most recent Record Date, a statement setting forth below, at least the following information, expressed with respect information as to clauses (i) through (vii) in each Class of Certificates to the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100extent applicable:
(i) the Current Principal Amount and/or Notional Amount amount of such distribution allocable to principal of each Class class of Certificates immediately prior to such Distribution DateCertificates;
(ii) the amount of the such distribution allocable to principal on interest of each applicable Class class of Certificates;
(iii) the aggregate amount Pool Balance as of interest accrued at the related Pass-Through Rate with respect to each Class during close of business on the related Interest Accrual last day of the preceding Collection Period;
(iv) the Net Interest Shortfall Class [A] Certificate Balance and any other adjustments Class [B] Certificate Balance and the Class [A] Pool Factor and Class [B] Pool Factor after giving effect to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatesall payments reported under clause (i) above on such date;
(v) the amount of the distribution allocable Servicing Fee paid to interest on each Class of Certificates for such Distribution Datethe Servicer with respect to the related Collection Period or Collection Periods, as the case may be;
(vi) the Pass-Through Rates for each amount of the Class of Certificates with respect to [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, if any, on such Distribution Date and the change in the Class [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, from the preceding Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount amount of each aggregate Realized Losses, if any, for the second preceding Collection Period;
(viii) the aggregate Purchase Amounts for Receivables, if any, that were repurchased in such period;
(ix) the amount otherwise distributable to the Class of Certificates after [B] Certificateholders that is distributed to Class [A] Certificateholders on such Distribution Date;
(viiix) the balance of the Reserve Account on such Distribution Date, after giving effect to deposits and withdrawals made on such Distribution Date; and
(xi) for the first Distribution Date that is on or immediately following the end of the Funding Period (if any), the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cutremaining Pre-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect Funded Amount that has not been used to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with fund the purchase of Mortgage Loans, cash deposits in connection with substitutions Subsequent Receivables and is passed through as payments of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the Certificates. Each amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(iii), (ii), (v) and or (a)(vvi) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements expressed as a dollar amount per $1,000 of the Codeoriginal principal balance of a Class [A] or Class [B] Certificate, as applicable.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Funding Ii Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Initial Beneficial Holder, the Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000[ ], or, in the case of a Class A-[ ] Certificate, a Class A-[ ] Notional Amount of $[ ], or, in the case of Class X Certificates, a Class X Notional Amount of $[ ], or in the case of the Residual Class [ ] or [ ] Certificates, an initial Current Principal Amount of $100[ ]:
(i) the Current Principal Amount and/or (or Notional Amount in the case of the Class X Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of Certificates (other than the Class PO Certificates) during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates (other than the Class PO Certificates);
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date(other than the Class PO Certificates);
(vi) the Pass-Through Rates for each the Class of A-[ ], Class A-[ ], Class X and Class [ ] Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Class A-[ ] Notional Amount or Class X Notional Amount of each applicable Class of Certificates after such Distribution DateDate and the Class PO Deferred Amount;
(viii) the amount of any Monthly Advances, Advances and Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Mortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of with respect to each Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateLoan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) in each Mortgage Loan Group remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information for each Mortgage Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) for each Mortgage Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) for each Mortgage Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was were REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Mortgage Loan Group; provided thatprovided, that in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and to the extent of, information on data provided to the Securities Administrator by the Master ServicerServicer pursuant to Section 6.03(a) and, with respect to prior periods, Section 6.04, upon which the Trustee may conclusively rely. The Securities Administrator may conclusively rely on such information and furnished by the Master Servicer shall not be sufficient for the Trustee to calculate any statements it is required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such changemake.
(b) Within a reasonable period By [May 15] of time after the end of the preceding calendar each year beginning in 2006200[ ], the Securities Administrator will, upon request, Trustee will furnish a report to each Holder of the Certificates of record at any time during the prior such calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine Master Servicer determines and advises the Trustee to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Copies of such report shall also be furnished to the Master Servicer. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code. The Master Servicer shall supply to the Trustee in a timely manner the information required for the statements described above which, where appropriate, shall be the information from which the Trustee can calculate the statements it is required to make.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp)
Statements to Certificateholders. (a) On each Distribution Determination Date, the Servicer shall provide the Administrator [, the Certificate Insurer] and the Paying Agent access to a statement in order to make available to each Certificateholder, and concurrently with each distribution to Certificateholders, Certificateholders the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed them such statement with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100their distribution setting forth:
(i) the Current Principal Available Distribution Amount and/or Notional Amount of each Class of Certificates immediately prior to for such Distribution Date, separately stating the amount of Interest Collections and Principal Collections;
(ii) the amount of the distribution payments due to Holders of the each Class of Certificates for such Distribution Date, separately stating the portions thereof allocable to principal on each applicable Class of Certificatesinterest and allocable to principal;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to any Interest Carry Forward Amount and Supplemental Interest Amount for each Class during of Certificates paid on such Distribution Date and the related amount of any Interest Accrual PeriodCarry Forward Amount or Supplemental Interest Amount for each Class of Certificates remaining after giving effect to the payments on such Distribution Date;
(iv) the Net Interest Shortfall and amount of any other adjustments to interest at Additional Principal Distribution Amount for such Distribution Date, including the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with amounts payable in respect thereof to each Class of CertificatesClass [A] Certificates on such Distribution Date;
(v) the amount of any Extra Principal Distribution Amount for such Distribution Date, including the distribution allocable amounts payable in respect thereof to interest on each Class of Class [A] Certificates for on such Distribution Date;
(vi) the Pass-Through Rates Principal Distribution Amount for such Distribution Date, separately stating the components thereof, including in each case the amounts payable in respect thereof to each Class of Class [A] Certificates with respect to on such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Class [A] Certificates, the Pool Balance as reported in the prior Monthly Report or, in the case of the first Determination Date, the Original Class Certificate Principal Balance for each Class of Class [A] Certificates and the Cut-Off Date Pool Balance;
(viii) the Certificate Principal Balance of each Class of Class [A] Certificates after giving effect to the distribution on such Distribution Date;
(viiiix) the amount number and aggregate Principal Balance of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances Home Equity Loan purchased or substituted by the Master Servicer Depositor or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during with respect to the related Prepayment Collection Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distributionpursuant to Section 2.02;
(x) the number and aggregate Principal Balance of any Home Equity Loan purchased or substituted by the Depositor or the Servicer with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect Collection Period pursuant to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage LoanSection 2.04;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance aggregate Principal Balance of Mortgage Loans any Home Equity Loan purchased or substituted for during by the relevant period and cumulatively since Depositor or the Cut-off DateServicer with respect to the related Collection Period pursuant to Section 3.01;
(xii) the number and aggregate Principal Balance of Mortgage any Home Equity Loan that the Servicer has consented to the placement of a senior lien during the related Collection Period pursuant to Section 3.01(a);
(xiii) the amount of any Substitution Adjustment Amounts for such Distribution Date;
(xiv) the amount, if any, to be distributed to the Holders of the Class R Certificates on such Distribution Date;
(xv) the Servicing Fee for such Collection Period and any accrued amounts thereof that remain unpaid for previous Collection Periods;
(xvi) the amount of all payments or reimbursements to the Servicer pursuant to the terms hereof during the related Collection Period, excluding earnings on investments;
(xvii) the Overcollateralization Amount, the Interim Overcollateralization Amount, the Interim Overcollateralization Deficiency, the Overcollateralization Release Amount, the Targeted Overcollateralization Amount and the Monthly Excess Cashflow for such Distribution Date;
(xviii) the number of Home Equity Loans outstanding at the beginning and end of such Collection Period;
(xix) the Pool Balance as of the end of such Collection Period;
(xx) the number and aggregate Principal Balances of Home Equity Loans (excluding REO Propertyx) remaining as to which the scheduled monthly payment is contractually delinquent for 30-59 days, 60-89 days and 90 or more days, respectively and (y) that have become REO, in each case as of the Trust Fund end of such Collection Period;
(xxi) the Cumulative Realized Losses on the Home Equity Loans as of the end of the related Prepayment Collection Period;
(xiiixxii) information regarding any Mortgage Loan delinquencies as of the end of Two Payment-Plus Delinquency Percentage for the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Collection Period;
(xvixxiii) the book value (the sum of (A) the Outstanding Principal Balance of Two Payment-Plus Rolling Average for such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xixxxiv) whether a Servicer Termination Event has occurred since the prior Determination Date, specifying each Servicer Termination Event if one has occurred;
(xxv) whether an Event of Default has occurred and is continuing;
(xxvi) the Average Loss Severity Percentage; and
(xx) Formula Rate for each Class of Class [A] Certificates for such Distribution Date and the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage Pass-Through Rate for each Class of Class [A] and Subordinate Prepayment Percentage, in each case, Class [IO] Certificates for such Distribution Date;
(xxvii) the amount of any Skip-A-Pay Advances for the related Collection Period;
(xxviii) the Skip-A-Pay Reimbursement Amount for such Distribution Date;
(xxix) the Cumulative Loss Percentage for the related Collection Period;
(xxx) whether a Trigger Event has occurred or is continuing;
(xxxi) [the Premium Amount for such Distribution Date and any Reimbursement Amount paid to the Certificate Insurer for such Distribution Date;]
(xxxii) [the amount of any draw on the Certificate Insurance Policy for such Distribution Date;] and
(xxxiii) such other information as is required by the Code and regulations thereunder to be made available to Holders of the Class [A] and Class [IO] Certificates.
(b) In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount per Class [A] Certificate or Class [IO] Certificate, as applicable, with a $1,000 denomination. The Administrator will make the reports referred to in this section (and, at its option, any additional files containing the same information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make in an alternative format) available each month, to any interested party, the monthly statement month to Certificateholders and other parties to this Agreement via the Securities Administrator’s website initially website, which is presently located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇[ ]. Parties Persons that are unable to use the above distribution option website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating suchAdministrator at [ ]. The Securities Administrator shall have the right to change the way such the reports referred to in this section are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and to the Securities Certificateholders. The Administrator shall provide timely and adequate notification to all above parties and to the Certificateholders regarding any such change.
(bc) The Servicer shall also give access to such statement to each Rating Agency at the time it gives access to such statement to the Administrator and the Paying Agent.
(d) Within a reasonable period of time 60 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a report Servicer shall prepare or cause to each Holder of the Certificates of record at any time during the prior calendar year as be prepared and shall forward or give access to the aggregate of amounts reported pursuant to subclauses Administrator the information set forth in clauses (a)(iii) and (a)(vii) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year. Such obligations obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Servicer pursuant to the any requirements of the Code.
(e) On each Distribution Date, the Servicer shall forward or give access to the Administrator, in electronic or written form as may be agreed upon by the Servicer and the Administrator, for making available to the Holders of the Residual Certificates a copy of the report forwarded to the Holders of Class [A] Certificates and Class [IO] Certificates on such Distribution Date. The Servicer shall also forward or give access to the Administrator, in electronic or written form as may be agreed upon by the Servicer and the Administrator, for making available to the Holders of the Residual Certificates a statement setting forth the amount of the distribution to the Holders of the Residual Certificates, together with such other information as the Servicer deems necessary or appropriate.
(f) Within 90 days after the end of each calendar year, the Servicer shall forward or give access to the Administrator for mailing to each Person who at any time during the calendar year was a Holder of a Residual Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate together with any other information relating to the Trust reasonably required in order to enable a Holder of a Residual Certificate to timely prepare and file its U.S. federal income tax returns and reports. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Administrator pursuant to any requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I), Pooling and Servicing Agreement (HSBC Home Equity Loan Corp I)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the 106 case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount Amount, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Group I Carryover Shortfall, any Group I Carryover Shortfall Amounts, any Group II Carryover Shortfall, any Group II Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distribution, separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses on the Mortgage Loans (listed separately for each category of Realized LossLoss and for each Loan Group) and Subsequent Recoveries on the Mortgage Loans during the related Prepayment Period and cumulatively since the Cut-off Date with respect to the Initial Mortgage Loans, and cumulatively since the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Initial Mortgage Loan as of the Cut-off Date or such Subsequent Mortgage Loan as of the related Subsequent Cut-off Date, as the case may be, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate with respect to the Initial Mortgage Loans, and cumulatively since the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, as the case may be;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the related Mortgage Loan, Loan and (B) accrued interest through the date of foreclosure and foreclosure, minus (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses on the Mortgage Loans allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity then applicable Group I Senior Percentage and Group II Senior Percentage, Group I Senior Prepayment Percentage and Group II Senior Prepayment Percentage, Group I Senior Mezzanine and Subordinate Percentage and Group II Senior Mezzanine and Subordinate Percentage, and Group I Senior Mezzanine and Subordinate Prepayment Percentage and Group II Senior Mezzanine and Subordinate Prepayment Percentage; andand 108
(xx) the Senior Percentageamount withdrawn from the Group I Pre-Funding Account and from the Group I Interest Coverage Account, Senior Prepayment Percentagerespectively, Subordinate Percentage and Subordinate Prepayment Percentageused to make payments to Class A-1 Certificateholders on that Distribution Date, the amount remaining on deposit in the Group I Pre-Funding Account and in the Group I Interest Coverage Account, respectively, following such Distribution Date, and the amount withdrawn from the Group I Pre-Funding Account and used to buy Group I Subsequent Mortgage Loans prior to such Distribution Date;
(xxi) the amount withdrawn from the Group II Pre-Funding Account and from the Group II Interest Coverage Account, respectively, and used to make payments to Class A-2B Certificateholders on that Distribution Date, the amount remaining on deposit in the Group II Pre-Funding Account and in the Group II Interest Coverage Account, respectively, following such Distribution Date, and the amount withdrawn from the Group II Pre-Funding Account and used to buy Group II Subsequent Mortgage Loans prior to such Distribution Date;
(xxii) with respect to each caseMortgage Loan which is purchased by the Investor pursuant to Section 4.15 or Section 4.21, as the case may be, of the related Servicing Agreement, (i) the loan number, (ii) the Scheduled Principal Balance of such Initial Mortgage Loan as of the Cut-off Date or such Subsequent Mortgage Loan as of the related Subsequent Cut-off Date, as the case may be, (iii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iv) the purchase price paid by the Investor with respect to such Mortgage Loan and (v) the amount of the Realized Loss with respect to such Mortgage Loan; and
(xxiii) the amount of any Subsequent Recovery on the Mortgage Loans for such Distribution Date, and the amount by which the Current Principal Amount of the Senior Mezzanine Certificates and each Class of Subordinate Certificates was increased as a result thereof. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 Senior Percentage, Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 Senior Prepayment Percentage, Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 Senior Mezzanine and Subordinate Percentage and Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 Senior Mezzanine and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"www.ctslink.com." Assistance in using ▇▇.▇ ▇▇▇▇▇▇▇.▇ ▇▇▇.” Assistance in using the website can n be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the unab▇▇ ▇▇ ▇▇▇ ▇▇▇ above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . Tot he extent timely received from the end of the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during www.jpmorgan.com/absmbs. Assistance i▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇'▇ ▇ebsite service can be obtained by calling the prior calendar year as to the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii877) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code722-1095.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Certs Ser 03 1), Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Certs Ser 03 1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall prepare and make available to each Holder of the parties hereto Regular Certificates and the Residual Interests, the Servicer, the Master Servicer, the Swap Provider and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed Rating Agency a statement with respect to clauses (i) through (vii) in information regarding the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Servicer and the Master ServicerServicer pursuant to Section 5.02 of the Servicing Agreement hereof, as to the distributions made on such Distribution Date setting forth:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, including on account of the Mezzanine Certificates, separately identified, allocable to principal and the amount of the distribution to the Holders of the Class P-1 and Class P-2 Certificates allocable to Prepayment Penalties and Servicer Prepayment Penalty Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P-1 and Class P-2 Certificates), including on account of the Mezzanine Certificates, separately identified, allocable to interest;
(iii) the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for such Distribution Date and the Overcollateralization Increase Amount for such Distribution Date for both Pool 1 and Pool 2;
(iv) the aggregate Servicing Fee received by the Servicer during the related Due Period;
(v) [Reserved];
(vi) the aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties as of the close of business on such Distribution Date;
(vii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date;
(viii) the number and aggregate unpaid principal balance of the Mortgage Loans that were, using the OTS Method, (a) Delinquent 30-59 days, (b) Delinquent 60-89 days, (c) Delinquent 90 or more days in each case, as of the last day of the preceding calendar month, (d) Mortgage Loans in foreclosure and (e) Mortgage Loans subject to filing under the Bankruptcy Code;
(ix) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance;
(x) the aggregate of the Stated Principal Balances of all REO Properties as of the close of business on the last Business Day of the calendar month preceding the month of such Distribution Date;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the calendar month preceding the month of such Distribution Date and the aggregate amount of Realized Losses incurred since the Closing Date;
(xiii) the aggregate amount of Extraordinary Trust Fund Expenses withdrawn from the Distribution Account for such Distribution Date;
(xiv) the Class Principal Amount of the Class A Certificates and the Mezzanine Certificates, after giving effect to the distributions made on such Distribution Date, after giving effect to the distributions made on such Distribution Date and allocations of Realized Losses, made on such Distribution Date, separately identifying any reduction thereof due to allocations of such Realized Losses;
(xv) the Certificate Factor for each such Class of LIBOR Certificates applicable to such Distribution Date;
(xvi) the Monthly Interest Distributable Amount in respect of the Pool 1 and Pool 2 Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each such Class of Certificates on such Distribution Date, separately identifying any reduction thereof due to allocations of Realized Losses, Prepayment Interest Shortfall Amounts and Relief Act Interest Shortfalls, as applicable;
(xvii) the aggregate amount of any Prepayment Interest Shortfall Amount for such Distribution Date, to the extent not covered by payments by the Servicer pursuant to Section 4.04(i) of the Servicing Agreement;
(xviii) the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xix) the Net WAC Rate Carryover Amount for the Class A Certificates and the Mezzanine Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xx) the Available Funds;
(xxi) [Reserved];
(xxii) the respective Pass-Through Rates applicable to the LIBOR Certificates, for such Distribution Date and the Pass-Through Rate applicable to the LIBOR Certificates for the immediately succeeding Distribution Date;
(xxiii) the amount of any payment made by the Swap Provider under the Swap Agreement;
(xxiv) the amount of any Net Monthly Excess Cash Flow on such Distribution Date and the allocation thereof to the Certificateholders with respect to Allocated Realized Loss Amounts;
(xxv) amounts deposited into the Pool 1 Net WAC Reserve Fund and Pool 2 Net WAC Reserve Fund;
(xxvi) the date when a Pool 1 Stepdown Date or Pool 2 Stepdown Date has occurred;
(xxvii) the related Net WAC Rate;
(xxviii) whether a Pool 1 Trigger Event or Pool 2 Trigger Event has occurred and is continuing;
(xxix) amounts payable to the Holders of Residual Interests; and
(xxx) the Net Swap Payment. The Securities Administrator may conclusively rely on will make such statement (and, at its option, any additional files containing the same information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make in an alternative format) available each month, month to any interested partyCertificateholders, the monthly statement to Certificateholders Master Servicer, the Servicer, the Rating Agencies, the Trustee and the Swap Provider via the Securities Administrator’s internet website. All information from which the Securities Administrator makes such statement will be based solely on information provided by the Servicer pursuant to Section 5.02 of the Servicing Agreement hereof or by the Swap Provider pursuant to the Swap Agreement. The Securities Administrator’s internet website shall initially be located at “w▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” ”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports statements are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such change.
changes. In the case of information furnished pursuant to subclauses (bi) through (ii) above, the amounts shall be expressed as a dollar amount per Single Certificate of the relevant Class. Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, upon written request or request by facsimile, the Securities Administrator will, upon request, shall furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Regular Certificate a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and through (a)(vii) above with respect to the Certificatesabove, plus information with respect to the amount aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the any requirements of the CodeCode as from time to time are in force. Within a reasonable period of time after the end of each calendar year, upon written request or request by facsimile, the Securities Administrator shall furnish to each Person who at any time during the calendar year was a Holder of a Residual Interest a statement setting forth the amount, if any, actually distributed with respect to the Residual Interests, as appropriate, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Securities Administrator and furnished to such Holders pursuant to the rules and regulations of the Code as are in force from time to time. For purposes of this Section 4.02, the Securities Administrator’s duties are limited to the extent that the Securities Administrator receives timely reports as required from the Servicer pursuant to Section 5.02(c) of the Servicing Agreement. On each Distribution Date the Securities Administrator shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) loan level data with respect to all of the Mortgage Loans and CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Securities Administrator and Bloomberg. In addition if so requested by the Originator, on each Distribution Date the Securities Administrator shall provide to the Originator and at the expense of the Originator, the loan level data with respect to the Mortgage Loans. No later than five (5) Business Days prior to each Distribution Date for so long as the Swap Agreement is outstanding, the Depositor shall provide to the Securities Administrator a statement that contains the aggregate Class Principal Amount of the Class AV and Pool 2 Mezzanine Certificates not held by the Seller, the Depositor or any of their respective affiliates, provided, however, that the Depositor shall not be required to give such notice if the Seller, the Depositor or any of their respective affiliates do not own any such Certificates. The Securities Administrator shall provide such statement that contains the aggregate Class Principal Amount of the Class AV and Pool 2 Mezzanine Certificates to the Swap Provider on such fifth preceding Business Day upon receipt if it receives notice of such holdings from the Depositor.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Jpmac 2006-Cw2), Pooling and Servicing Agreement (Jpmac 2006-Cw2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I, Group II, Group III and Group IV Senior Percentage, Group I, Group II, Group III and Group IV Senior Prepayment Percentage, Group I, Group II, Group III and Group IV Subordinate Percentage and Group I, Group II, Group III and Group IV Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-5), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-11)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Senior Percentage, Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Senior Prepayment Percentage, Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Subordinate Percentage and Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust Mortgage Pass Thro Cert Series 2002-8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator Servicer shall make available provide to the parties hereto and Trustee for the Trustee to forward to each Certificateholder via of record as of the Securities Administrator’s internet website as set most recent Record Date, a statement setting forth below, at least the following information, expressed with respect information as to clauses (i) through (vii) in each Class of Certificates to the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100extent applicable:
(i) the Current Principal Amount and/or Notional Amount amount of such distribution allocable to principal of each Class class of Certificates immediately prior to such Distribution DateCertificates;
(ii) the amount of the such distribution allocable to principal on interest of each applicable Class class of Certificates;
(iii) the aggregate amount Pool Balance as of interest accrued at the related Pass-Through Rate with respect to each Class during close of business on the related Interest Accrual last day of the preceding Collection Period;
(iv) the Net Interest Shortfall Class [A] Certificate Balance and any other adjustments Class [B] Certificate Balance and the Class [A] Pool Factor and Class [B] Pool Factor after giving effect to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatesall payments reported under clause (i) above on such date;
(v) the amount of the distribution allocable Servicing Fee paid to interest on each Class of Certificates for such Distribution Datethe Servicer with respect to the related Collection Period or Collection Periods, as the case may be;
(vi) the Pass-Through Rates for each amount of the Class of Certificates with respect to [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, if any, on such Distribution Date and the change in the Class [A] Principal Carryover Shortfall and Class [A] Interest Carryover Shortfall and Class [B] Principal Carryover Shortfall and Class [B] Interest Carryover Shortfall, as applicable, from the preceding Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount amount of each aggregate Realized Losses, if any, for the second preceding Collection Period;
(viii) the aggregate Purchase Amounts for Receivables, if any, that were repurchased in such period;
(ix) the amount otherwise distributable to the Class of Certificates after [B] Certificateholders that is distributed to Class [A] Certificateholders on such Distribution Date;
(viiix) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as balance of the Cut-off Reserve Account on such Distribution Date, (ii) the Scheduled Principal Balance of after giving effect to deposits and withdrawals made on such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage LoanDistribution Date;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) aggregate Payahead Balance and the number and principal change in such balance of Mortgage Loans purchased or substituted for during from the relevant period and cumulatively since the Cut-off preceding Distribution Date;
(xii) for Distribution Dates during the number of Mortgage Loans Funding Period (excluding REO Propertyif any), the remaining Pre-Funded Amount; and
(xiii) remaining in for the Trust Fund as of first Distribution Date that is on or immediately following the end of the related Prepayment Period;
Funding Period (xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodif any), including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest any remaining Pre-Funded Amount that has not been used to fund the purchase of Subsequent Receivables and Realized Losses allocated to each Class is passed through as payments of Certificates since principal of the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the Certificates. Each amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(iii), (ii), (v) and or (a)(vvi) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements expressed as a dollar amount per $1,000 of the Codeoriginal principal balance of a Class [A] or Class [B] Certificate, as applicable.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (National City Bank /), Pooling and Servicing Agreement (Usaa Acceptance LLC)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Master Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average Loss Severity then applicable Group 1 Senior Percentage, Group 2 Senior Percentage, Group 1 Senior Prepayment Percentage, Group 2 Senior Prepayment Percentage, Group 1 Subordinate Percentage, Senior Mezzanine and Subordinate Percentage, Group 1 Subordinate Prepayment Percentage, and Senior Mezzanine and Group 2 Subordinate Prepayment Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, any Diverted Amount for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master ServicerServicer and the Trustee. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12)
Statements to Certificateholders. (a) On each Distribution Date, concurrently a)Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class B-IO Certificates, an initial Current Principal a Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Balance or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Master Servicer included in such distribution, separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateof Certificates;
(xix) the Average Loss Severity Percentage; andamount of such distribution to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contracts;
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Datecumulative amount of Applied Realized Loss Amounts to date; and
(xxi) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii▇▇▇) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code▇▇▇-▇▇▇▇.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution based, as applicable, on information provided to Certificateholdersit by the Master Servicer, the Securities Administrator Trustee shall prepare and make available on the Trustee's website, http://www-apps.gis.deutsche-bank.com/▇▇▇▇ (▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇'▇ ▇▇▇▇▇▇), to each Holder of the Regular Certificates, the Master Servicer and the Rating Agencies, a statement as to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100distributions made on such Distribution Date:
(i) (A) the Current Principal Amount and/or Notional Amount amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates immediately prior (other than the Class A-IO Certificates), separately identified, allocable to principal and (B) the amount of the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Regular Certificates (other than the Class P Certificates) for such Distribution Date;
(viiv) the Pass-Through Rates aggregate amount of Advances for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvv) the number and aggregate Outstanding Stated Principal Balance of all the Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(vi) the Overcollateralized Amount, the Excess Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount for such Distribution Date;
(vii) the aggregate Certificate Principal Balance or Notional Amount, as applicable, of each Class of Regular Certificates after giving effect to the amounts distributed on such Distribution Date (in the case of each Class of the Mezzanine Certificates, separately identifying any reduction thereof due to the allocation of Realized Losses thereto);
(viii) the number and aggregate Stated Principal Balance of Mortgage Loans (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days, (c) delinquent 91 days or more, in each case as of the end of the calendar month prior to such Distribution Date;
(ix) the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
(x) the weighted average remaining term to maturity, weighted average Mortgage Rate and weighted average Net Mortgage Rate of the Mortgage Loans as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Custodial Account or the Certificate Account for such Distribution Date;
(xiv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.23, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates and Mezzanine Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of the Class A Certificates and Mezzanine Certificates for such Distribution Date;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage LoanOvercollateralization Target Amount, (B) accrued interest through the date of foreclosure Overcollateralized Amount and (C) foreclosure expenses) of any REO Property; provided thatthe amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount, in the event that such information is not available each case after giving effect to the Securities Administrator distribution made on the Regular Certificates on such Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) when the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Stepdown Date and in the aggregate for all prior Distribution Datesor a Trigger Event has occurred;
(xviii) the aggregate amount withdrawn from of servicing compensation received by the Class A/B Reserve Fund (Master Servicer with respect to the first three distribution dates only)related Due Period and such other customary information as the Trustee deems necessary or desirable, on that Distribution Date;or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns; and
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, Available Distribution Amount for such Distribution Date. The information set forth above shall be calculated or reported, as In the case may beof information furnished pursuant to subclauses (i) and (ii) above, by the Securities Administratoramounts shall also be expressed as a dollar amount per Single Certificate. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, based solely onL.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the extent of, information provided to the Securities Administrator by the Master ServicerTrustee and Bloomberg. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willTrustee shall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Certificate, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and (a)(vii) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such person was a Certificateholder. Such obligations obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and make available on the Trustee's website, http://www-apps.gis.deutsche-bank.com/▇▇▇▇ (▇▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇'▇ ▇▇▇▇▇▇), to each Holder of a Class R Certificate a copy of the reports forwarded to the other Certificateholders on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R Certificate a statement containing the information provided pursuant to the previous paragraph 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 CodeCode as from time to time are in force.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Master Servicer shall make available prepare and deliver to the parties hereto Trustee, and the Trustee shall forward by first-class mail to each Certificateholder via Certificateholder, with a copy to the Securities Administrator’s internet website as set Seller and the Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of each Class of Notional Amount Certificates, a Notional Amount of $1000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or (or Notional Amount in the case of Notional Amount Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of interest-bearing Certificates during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of interest-bearing Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Dateinterest-bearing Certificates;
(vi) the Pass-Through Rates for each Class of interest-bearing Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount in the case of the Notional Amount Certificates) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer Sub-Servicers or the Master Servicer included in such distributiondistribution separately stated for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossMortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) with respect to each Mortgage Loan Group and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate with respect to each Mortgage Loan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) in each Mortgage Loan Group remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information for each Mortgage Loan Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) for each Mortgage Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) for each Mortgage Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Mortgage Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateCertificate Group (or Sub-Group with respect to Group 3 Senior Certificates). The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities AdministratorMaster Servicer, based solely on, and to upon which the extent of, Trustee may conclusively rely. The information provided to the Securities Administrator furnished by the Master Servicer. The Securities Administrator may conclusively rely on such information and Servicer shall not be sufficient for the Trustee to calculate any payments or statements it is required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇make.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I, Group II, Group III, Group IV and Group V Senior Percentage, Group I, Group II, Group III, Group IV and Group V Senior Prepayment Percentage, Group I, Group II, Group III, Group IV and Group V Subordinate Percentage and Group I, Group II, Group III, Group IV and Group V Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 2006, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-6), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-11)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available prepare and forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller, each Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of each Class of Notional Amount Certificates, a Notional Amount of $1,000, or in the case of each Class of Residual Certificates, an its initial Current Principal Amount of $100Amount:
(i) the Current Principal Amount and/or (or Notional Amount in the case of Notional Amount Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of interest-bearing Certificates during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of interest-bearing Certificates (other than the Accrual Certificates);
(v) the amount of the distribution allocable to interest on each Class of interest-bearing Certificates for such and the Accrual Distribution DateAmount added to the Current Principal Amount of the Accrual Certificates;
(vi) the Pass-Through Rates for each Class of interest-bearing Certificates and each Component of the Component Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount in the case of the Notional Amount Certificates) of each Class of Certificates after such Distribution Date;; 100
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the a Master Servicer or the Servicer included in such distributiondistribution separately stated for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossMortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) with respect to each Mortgage Loan Group and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate with respect to each Mortgage Loan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) in each Mortgage Loan Group remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information for each Mortgage Loan Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) for each Mortgage Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) for each Mortgage Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Mortgage Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviiixvii) the amount withdrawn from the Class A/B Reserve Fund (of Special Hazard Losses, Fraud Losses and Bankruptcy Losses with respect to each Mortgage Loan Group on such Distribution Date and in the first three distribution dates only), on that aggregate for all prior Distribution Dates; and
(xviii) any Diverted Amount for such Distribution Date;; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment PercentagePercentage for each Certificate Group. The Trustee may make such information available each month to any interested party via the Trustee's website, electronic bulletin board and its fax-on-demand service. The Trustee's website will be located at "www.ctslink.com". The Trustee's electr▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇oard may be accessed by calling (301) 815-6620, and its fax-on-demand ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ accessed by calling (301) 815-6610. The Trustee will notif▇ ▇▇▇▇ ▇▇▇▇▇▇▇cateholder, the Rating Agencies, the Seller, BSMCC and each Master Servicer in each case, for the event of a change of such Distribution Datewebsite and telephone numbers. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and on data provided by each Master Servicer pursuant to Section 6.05 upon which the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and which the Trustee shall not be required to confirm, verify confirm or recalculate any such informationverify. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required furnished by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations Master Servicers shall be deemed sufficient for the Trustee to have been satisfied calculate any payments or statements it is required to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codemake.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I-1, Group I-2, Group I-3, Group II-1, Group II-2, Group II-3, Group II-4 and Group II-5 Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 2006, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust 2005-12)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1 and Group 2 Senior Percentage, Group 1 and Group 2 Senior Prepayment Percentage, Group 1 and Group 2 Subordinate Percentage and Group 1 and Group 2 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities Administrator’s internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Class I-R, Class II-R-1, Class II-R-2 and Class II-R-3 Certificates, an initial Current Principal Amount of $100, $50, $50 and $50, respectively:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage;
(xix) the Average Loss Severity Percentageamount of Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Extraordinary Losses on such Distribution Date and in the aggregate for all prior Distribution Dates; and
(xx) the then applicable Subgroup Senior Percentage, Subgroup Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateSubgroup. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement Certificates Distribution Report to Certificateholders Holders of the Certificates via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at “▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇”. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar year beginning in 2006each year, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2005-4)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto hereto, MBIA and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentageamount of Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Extraordinary Losses on such Distribution Date and in the aggregate for all prior Distribution Dates; and
(xx) the then applicable Subgroup Senior Percentage, Subgroup Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateSubgroup. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in ▇ using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. P▇▇▇▇. Parties that are ▇▇ ▇▇▇▇ ▇▇e unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders and MBIA via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during "https://trustinve▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇". ▇▇▇▇▇▇▇▇▇▇ ▇▇ using the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii800) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code934-6802.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Prime Mortgage Trust 2003 2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s Trustee's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to the Mortgage Loans, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for the Mortgage Loans and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Senior Mezzanine and Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution based, as applicable, on information provided to Certificateholdersit by the Master Servicer, the Securities Administrator shall prepare and make available to the parties hereto and each Certificateholder via on the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case each Holder of the Residual Regular Certificates, an initial Current Principal Amount of $100the Trustee, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date setting forth:
(i) (A) the Current Principal Amount and/or Notional Amount amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates immediately prior Regular Certificates, separately identified, allocable to principal and (B) the amount of the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Regular Certificates (other than the Class P Certificates) for such Distribution Date;
(viiv) the Pass-Through Rates aggregate amount of Advances for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvv) the number and aggregate Outstanding Aggregate Stated Principal Balance of all the Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(vi) the Overcollateralized Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount for such Distribution Date;
(vii) the aggregate Certificate Principal Balance or Notional Amount, as applicable, of each Class of Regular Certificates after giving effect to the amounts distributed on such Distribution Date (in the case of each Class of the Class M Certificates, separately identifying any reduction thereof due to the allocation of Realized Losses thereto);
(viii) the number and Aggregate Stated Principal Balance of Mortgage Loans (a) Delinquent 31 to 60 days, (b) Delinquent 61 to 90 days, (c) Delinquent 91 days or more, in each case as of the end of the calendar month prior to such Distribution Date;
(ix) the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
(x) the weighted average remaining term to maturity, weighted average Mortgage Rate and weighted average Net Mortgage Rate of the Mortgage Loans as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Custodial Account or the Certificate Account for such Distribution Date;
(xiv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer or Master Servicer pursuant to Section 3.17, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xv) the Accrued Certificate Interest in respect of each Class of the Class A Certificates, Class M Certificates and Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of the Class A Certificates and Class M Certificates for such Distribution Date;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage LoanOvercollateralization Target Amount, (B) accrued interest through the date of foreclosure Overcollateralized Amount and (C) foreclosure expenses) of any REO Property; provided thatthe amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount, in the event that such information is not available each case after giving effect to the Securities Administrator distribution made on the Regular Certificates on such Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the aggregate amount of Net Deferred Interest the Master Servicer Fee received by the Master Servicer with respect to the related Due Period and Realized Losses allocated such other customary information as the Securities Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Datesenable Certificateholders to prepare their tax returns;
(xviii) the amount withdrawn aggregate of any deposits to and withdrawals from the Class A/B Basis Risk Shortfall Reserve Fund (with respect to for such Distribution Date and the first three distribution dates only), remaining amount on that Distribution Datedeposit in the Basis Risk Shortfall Reserve Fund after such deposits and withdrawals;
(xix) the Average Loss Severity Percentage; andAvailable Distribution Amount for such Distribution Date;
(xx) the Senior Percentageamount of any Net Swap Payment to the Supplemental Interest Trust made pursuant to Section 4.01(a), Senior Prepayment Percentageany Net Swap Payment to the Swap Provider made pursuant to Section 4.01(a), Subordinate Percentage any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Section 4.01(c), and Subordinate Prepayment Percentageany Swap Termination Payment to the Swap Provider made pursuant to Sections 4.01(c). On each Distribution Date, in the Securities Administrator shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each case, for Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and Bloomberg. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) . Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willshall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Certificate, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and (a)(vii) above with respect to the Certificatesabove, plus information with respect to the amount aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the any requirements of the CodeCode and regulations thereunder as from time to time are in force. Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R Certificate a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time are in force.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentageany Diverted Amount for such Distribution Date; and
(xx) the then applicable Group I-1, Group I-2, Group I-3, Group I-4, Group II-1, Group II-2 , Group II-3 and Group II-4 Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Arm Tr 2004 2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class B-IO Certificates, an initial Current Principal Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and Subsequent Cut-off Date, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date and Subsequent Cut-off Date, as the case may be, (iiiii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date or the related Subsequent Cut-off Date, as the case may be;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date;
(xx) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(xxi) the amount of the distribution made on such Distribution Date to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contracts;
(xxii) the amount withdrawn from the Pre-Funding Account, the Pre-Funding Reserve Account and the Interest Coverage Account and deemed to be Principal Funds or Interest Funds 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;
(xxiii) the cumulative amount of Applied Realized Loss Amounts to date; and
(xxiv) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the Trustee's website service can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-9)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Depositor and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, 1,000 or in the case of the Residual Certificates, an initial Current Principal Amount of $10050 for each of the Class R-1 and Class R-3 Certificates, an initial Current Principal Amount of $100 for the Class R-2 Certificates and expressed with respect to clauses (viii) through (xv) with respect to Loan Group I and Loan Group II separately:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer related Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xiixi) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Group I and Group II Senior Percentage, Group I and Group II Senior Prepayment Percentage, Group I and Group II Subordinate Percentage and Group I and Group II Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and to the extent of, information on data provided to the Securities Administrator by the Master Servicer. The Securities Administrator Servicer pursuant to Section 6.05 upon which the Trustee may conclusively rely on such information and which the Trustee shall not be required to confirm, verify confirm or recalculate any such informationverify. The Securities Administrator information furnished by the Master Servicer shall be sufficient for the Trustee to calculate any payments or statements it is required to make. The Master Servicer may make available each month, to any interested interest party, the monthly statement to Certificateholders via the Securities Administrator’s Master Servicer's website, electronic bulletin board and its fax-on-demand service. The Master Servicer's website initially will be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can " The Master Servicer's electronic bulletin board may be obtained accessed by calling the Securities Administrator’s customer (▇▇▇) ▇▇▇-▇▇▇▇ and its fax- on-demand service desk at may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s Trustee's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to the Mortgage Loans, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for the Mortgage Loans and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On With respect to each Series, on each Distribution Date, concurrently with the Trustee shall forward or cause to be forwarded by mail to each distribution Holder of a Certificate of such Series and to Certificateholdersthe Seller, the Securities Administrator shall make available Loan Seller and the Master Servicer a statement as to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed such distribution with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100such Series setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of each Class such distribution allocable to principal, separately identifying the amounts referred to in paragraphs (1), (3), (5), (7), (9), and (11) of Certificates immediately prior to Section 4.01(b) above included in such Distribution Datedistribution;
(ii) the amount of the such distribution allocable to principal on each applicable Class interest, separately identifying the amounts referred to in paragraphs (2), (4), (6), (8), (10) and (11) of CertificatesSection 4.01(b) above included in such distribution;
(iii) the aggregate amount of interest accrued at Realized Losses, with the related Pass-Through Rate with respect to each Class during respective amounts of Deficient Valuations, Excess Fraud Losses, Excess Special Hazard Losses and Extraordinary Losses set forth separately, and Debt Service Reductions on the related Interest Accrual PeriodMortgage Loans incurred on the Mortgage Loans in the respective Loan Group since the immediately preceding Distribution Date;
(iv) the Net aggregate amount of Prepayment Interest Shortfall and any other adjustments to interest at Shortfalls incurred on the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of CertificatesMortgage Loans in the respective Loan Group since the immediately preceding Distribution Date;
(v) the principal balances of the Mortgage Loans in the respective Loan Group at the opening of business on the first day of the month of distribution after (A) giving effect to payments on the Mortgage Loans due on the Due Date and distributed either as collections or advances and (B) reducing such balances by the amount of Realized Losses attributable to the distribution allocable to interest on each Class of Certificates for Mortgage Loans in such Loan Group since the immediately preceding Distribution Date;
(vi) the Pass-Through Rates for each Class aggregate scheduled principal balance, as of Certificates with respect to such the related Distribution Date, of the Mortgage Loans in the respective Loan Group;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Dateamount, if any, by which the aggregate amount remitted from the Certificate Account exceeds the aggregate remittances referred to in clauses (i) and (ii) above;
(viii) the aggregate cumulative amount of Realized Losses, with the respective amounts of Deficient Valuations, Excess Fraud Losses, Excess Special Hazard Losses and Extraordinary Losses set forth separately from all other causes of Realized Losses, Debt Service Reductions and Prepayment Interest Shortfalls on the Mortgage Loans in the related Loan Group; and The Trustee shall have no liability or responsibility to any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances Certificateholder for the accuracy or completeness of the information provided by the Master Servicer under Section 4.03. The parties hereto acknowledge that in the event that The First National Bank of Chicago in its capacity as Indenture Trustee for the holders of collateralized mortgage obligations issued by the Issuer, or a qualified nominee thereof, is the sole Certificateholder, then the Trustee may elect not to deliver a written statement to any Certificateholder pursuant to Section 4.03. The Trustee shall forward to the Master Servicer included in such distribution;a copy of each written statement, if any, delivered to any Certificateholder.
(ix) the aggregate amount of any Realized Losses Within sixty (listed separately for each category of Realized Loss60) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 calendar days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, Trustee shall furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Certificateholder a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and (a)(vii) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such person was a Certificateholder. Such obligations obligation shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the any requirements of the Code, as from time to time in force. Upon request, the Master Servicer agrees to provide information to the Trustee as necessary to meet such requirements of the Code. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information set forth in subclauses (i)-(iii) above, 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 and regulations thereunder as from time to time are in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (CMC Securities Corp Iv)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class II-X Certificates and the Class B-IO Certificates, an initial Current Principal Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Balance or Notional Amount Amount, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Balance or Notional Amount Amount, as applicable, of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date Date, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.foreclosure
Appears in 1 contract
Sources: Pooling and Servicing Agreement (BSALTA 2005-10, Mortgage Pass-Through Certificates, Series 2005-10)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator Trustee shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities AdministratorTrustee’s internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050 each:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period preceding calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Periodpreceding calendar month, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Periodpreceding calendar month;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodprevious calendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) delinquent Delinquent 30 to 59 days on a contractual basis, (b) delinquent Delinquent 60 to 89 days on a contractual basis, and (c) delinquent Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Periodpreceding calendar month;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and;
(xix) [Reserved]
(xx) the then applicable Subgroup Senior Percentage, Subgroup Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateSubgroup. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator Trustee may make available each month, to any interested party, the monthly statement Certificates Distribution Report to Certificateholders Holders of the Certificates via the Securities AdministratorTrustee’s website initially located at “w▇▇.▇▇▇▇▇▇.▇.▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062007, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities Administrator’s internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Class R-1 Certificates and Class R-2 Certificates, an initial Current Principal Amount of $10050 and $50, respectively:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage;
(xix) the Average Loss Severity Percentageamount of Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Extraordinary Losses on such Distribution Date and in the aggregate for all prior Distribution Dates; and
(xx) the then applicable Subgroup Senior Percentage, Subgroup Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateSubgroup. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement Certificates Distribution Report to Certificateholders Holders of the Certificates via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at “▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇”. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar year beginning in 2006each year, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator Trustee shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities AdministratorTrustee’s internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Servicers included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period preceding calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Periodpreceding calendar month, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Periodpreceding calendar month;
(xiii) information for each Loan Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodprevious calendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) delinquent Delinquent 30 to 59 days on a contractual basis, (b) delinquent Delinquent 60 to 89 days on a contractual basis, and (c) delinquent Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Periodpreceding calendar month;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) On each Distribution Date, beginning with the Average Loss Severity Percentage; andDistribution Date in September 2007, the Trustee shall either forward by mail or otherwise make available to Standard & Poor’s, a statement setting forth (i) whether any exchanges of Exchangeable Certificates or Exchanged Certificates have taken place since the preceding Distribution Date, (ii) the Exchanged Certificates or Exchangeable Certificates received by the Certificateholder as a result of each such exchange that took place since the preceding Distribution Date, and (iii) a fraction, expressed as a percentage, the numerator of which is the aggregate Current Principal Amount of all Certificates of any Class of Certificates that were exchanged since the preceding Distribution Date, and the denominator of which is the initial Current Principal Amount of such Class of Certificates.
(xx) the then applicable Group I and Group I Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator Trustee may make available each month, to any interested party, the monthly statement Certificates Distribution Report to Certificateholders Holders of the Certificates via the Securities AdministratorTrustee’s website initially located at “w▇▇.▇▇▇▇▇▇.▇.▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062008, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2007-3)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Interest Only Certificates, an initial Current Principal a Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Balance or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Master Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateof Certificates;
(xix) the Average Loss Severity Percentage; andamount of such distribution to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contract;
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentagecumulative amount of Applied Realized Loss Amounts to date and, in each caseaddition, for such Distribution Dateif the Certificate Principal Balances of the Class M-1, Class M-2 and Class M-3 Certificates have all been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates; and
(xxi) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert Ser 2002-2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available prepare and forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller, each Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of each Class of Notional Amount Certificates, a Notional Amount of $1000, or in the case of each Class of Residual Certificates, an its initial Current Principal Amount of $100Amount:
(i) the Current Principal Amount and/or (or Notional Amount in the case of Notional Amount Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of interest-bearing Certificates during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of interest-bearing Certificates (other than the Class 1-A-2 Certificates);
(v) the amount of the distribution allocable to interest on each Class of interest-bearing Certificates for such Distribution Dateand the Class 1-A-2 Accrual Amount added to the Current Principal Amount of the Class 1-A-2 Certificates;
(vi) the Pass-Through Rates for each Class of interest-bearing Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount in the case of the Notional Amount Certificates) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the a Master Servicer or the Servicer included in such distributiondistribution separately stated for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossMortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) with respect to each Mortgage Loan Group and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate with respect to each Mortgage Loan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) in each Mortgage Loan Group remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information for each Mortgage Loan Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) for each Mortgage Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) for each Mortgage Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Mortgage Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateCertificate Group. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and on data provided by each Master Servicer pursuant to Section 6.07 upon which the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and which the Trustee shall not be required to confirm, verify confirm or recalculate any such informationverify. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required furnished by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations Master Servicers shall be deemed sufficient for the Trustee to have been satisfied calculate any payments or statements it is required to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codemake.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Paying Agent shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s Paying Agent's internet website as set forth below, all of the following information, expressed with respect to clauses (i) through (vii) information contained in the aggregate Underlying Certificates Remittance Report and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100following:
(i) the Current Principal Amount and/or Notional Amount respective Pass-Through Rates on each of each Class of the Underlying Certificates immediately prior to such Distribution Dateand the Certificates;
(ii) the amount respective amounts of any interest distributions made to each of the distribution allocable to principal on each applicable Class of Underlying Certificates and the Certificates;
(iii) the aggregate amount respective amounts of interest accrued at the related Pass-Through Rate with respect any principal distributions made to each Class during of the related Interest Accrual PeriodUnderlying Certificates and the Certificates;
(iv) the Net Interest amount of any payments of Basis Risk Shortfall and any other adjustments Carry Forward Amounts made by the Basis Risk Reserve Fund to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Underlying Certificates;
(v) the amount of any Underlying Realized Loss allocated to the distribution allocable to interest on each Class of Certificates for such Distribution DateUnderlying Certificates;
(vi) the Pass-Through Rates for each Class amount of Certificates with respect any Swap Grantor Trust Payments made to such Distribution Date;the Swap Counterparty by the Trust; and
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Swap Counterparty Payments and outstanding unreimbursed advances made to the Trust by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution DateSwap Counterparty. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator Paying Agent may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s Paying Agent's website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” www.ctslink.com. Assistance in using the website can be obtained by calling the Securities Administrator’s b▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇aying Agent's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option are distribut▇▇▇ ▇▇▇▇▇▇ ▇▇▇ entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator Paying Agent shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Paying Agent shall provide timely and adequate written notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062007, the Securities Administrator will, upon request, Paying Agent will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii), (a)(iii) and (a)(va)(iv) above with respect to the Certificates, plus information with respect to and at the amount request of servicing compensation and such the Holders, any other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to amounts which would enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Paying Agent to such Holders pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Grantor Trust Agreement (Structured Asset Mortgage Investments II Trust 2005-Ar8)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Interest Only Certificates, an initial Current Principal a Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Balance or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Master Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateof Certificates;
(xix) the Average Loss Severity Percentage; andamount of such distribution to Holders of each Class allocable to interest and the portion thereof, if any, provided by a Cap Contracts;
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentagecumulative amount of Applied Realized Loss Amounts to date and, in each caseaddition, for such Distribution Dateif the Certificate Principal Balance of the Class M Certificates has been reduced to zero, the cumulative amount of any Realized Losses that have not been allocated to any Certificates; and
(xxi) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during www.jpmorgan.com/ab▇▇▇▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ng the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii877) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code722-1095.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity PercentagePercentage for each Loan Group; and
(xxxix) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in using ▇ ▇sing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. Pa▇▇▇▇. Parties that are ▇ ▇▇▇▇ ▇▇▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at www.jpmorgan.com/s▇▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇ing the Trustee's website service can be obtained by calling the Trustee's customer service desk at (877) 722-1095.
(b▇) Within ▇▇thin a reasonable period of time after the end of the preceding calendar year beginning in 20062004, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine and advises the Trustee to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Alt a Trust Mort Pass THR Certs Sers 2003-6)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution charged to Certificateholders, the Securities Administrator Certificate Account on a Distribution Date the Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth belowon its web site, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇▇://▇▇▇-▇▇▇▇.▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable .▇▇▇/invr, a written statement (a "Statement to use Certificateholders") setting forth the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible following information with respect to the parties, and Offered Certificates:
(a) the Securities Administrator shall provide timely and adequate notification amount of the distribution with respect to all parties regarding any such change.each Class of Certificates (based on a Certificate in the original principal amount of $1,000);
(b) the amount of such distribution allocable to principal on the related Mortgage Loans, separately identifying the aggregate amount of any Prepayments or other recoveries of principal included therein;
(c) the amount of such distribution allocable to interest on the related Mortgage Loans identifying the aggregate amount of any prepayment or other recoveries of principal included therein;
(d) the Class Monthly Interest Amount and Class Interest Carryover Shortfall for each Class of Certificates;
(e) the outstanding Certificate Principal Balance of each Class of Offered Certificates (based on a Certificate in the original principal amount of $1,000) that will be outstanding after giving effect to any payment of principal on such Distribution Date;
(f) the aggregate of the Principal Balances of all Mortgage Loans after giving effect to any payments of principal on such Distribution Date;
(g) based upon information furnished by the Servicer, such information as may be required by Section 6049(d)(7)(C) of the Code and the regulations promulgated thereunder to assist the Certificateholders in computing their market discount;
(h) the total of all amounts paid by the Seller and the Servicer during the related Collection Period in connection with purchases or repurchases from the Trust of Mortgage Loans and substitutions for Mortgage Loans of Qualified Replacement Mortgage Loans;
(i) the weighted average Mortgage Loan Rate of the Mortgage Loans;
(j) whether a Delinquency Event or a Cumulative Loss Event has occurred and, if so, what event;
(k) the amount of any Excess Interest included in such distribution;
(l) the Overcollateralization Amount, Required Overcollateralization Amount and Applied Realized Loss Amount, both in the aggregate and with respect to each applicable Class, for such Distribution Date;
(m) the Basic Principal Amount with respect to the Mortgage Loans;
(n) the amount of any Net Rate Cap Carryover paid and remaining unpaid as of such Distribution Date;
(o) the Capitalized Interest Requirement and amounts remaining in the Prefunding Account each as of such Distribution Date;
(p) the amount of any draw to be made on any PMI Policy on the related Distribution Date, and the amounts to be paid to the PMI Insurer, if any, as of such Distribution Date in respect of the PMI Insurer Premiums with respect to each PMI Mortgage Loan;
(q) the number of Mortgage Loans and the aggregate of their Principal Balances as a percentage of the Pool Balance, that as of the end of the immediately preceding calendar month are (i) 30 to 59 days delinquent, (ii) 60 to 89 days delinquent, (iii) 90 or more days delinquent, (iv) the subject of bankruptcy proceedings (to the actual knowledge of the Servicer), (v) in foreclosure and (vi) as to which the related Mortgaged Property is REO Property; and
(r) the Certificate Principal Balance of each Class of Certificates then outstanding after giving effect to all payments or principal on such Distribution Date. In the case of information furnished pursuant to subclauses (a), (b), (c) and (d) above, the amounts shall be expressed as a dollar amount per Certificate with a $1,000 principal denomination. Within a reasonable period of time 90 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a Trustee shall mail such report to ▇▇▇▇▇▇ Brothers, Inc., ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇ ▇▇▇▇▇ (which report shall include, in addition to the information contained in reports to others hereunder, the total amount of interest on the Mortgage Loans for the period covered by such report), and to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was an Offered Certificateholder, a statement for each Certificateholder containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iia) and through (a)(vc) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year or, in the case of each Person who was an Offered Certificateholder for a portion of such calendar year. Such obligations shall be deemed to have been satisfied to , setting forth such information for each month thereof for the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements portion of the Code.year during which such Person was a
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Aames Capital Corp)
Statements to Certificateholders. (a) On (i) Prior to the Distribution Date in each Distribution Datemonth, concurrently based upon the information provided to the Securities Administrator on the Master Servicer's Certificate delivered to the Securities Administrator pursuant to Section 4.01 and with each distribution respect to Certificateholderssubsections (V) and (W) below, after consultation with the Depositor, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, determine the following information, expressed information with respect to clauses (i) through (vii) in the aggregate Shifting Interest Certificates and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100such Distribution Date:
(iA) the Current Principal Amount and/or Notional Amount of actual Distribution Date, the related Record Date and the Interest Accrual Period for each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Shifting Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;
(viB) for each Shifting Interest Loan Group, the related Pool Distribution Amount;
(C) for each Shifting Interest Loan Group, the amount of the Pool Distribution Amount allocable to principal, separately identifying the aggregate amount of any Principal Prepayments, Liquidation Proceeds and other components included therein;
(D) for each Shifting Interest Loan Group, the amount of the Pool Distribution Amount allocable to interest, any Class Unpaid Interest Shortfall included in such distribution and any remaining Class Unpaid Interest Shortfall after giving effect to such distribution;
(E) if the distribution to the Holders of such Class of Shifting Interest Certificates 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;
(F) the Class Certificate Balance of each Class of Shifting Interest Certificates before and after giving effect to the distribution of principal on such Distribution Date;
(G) for each Shifting Interest Loan Group, the aggregate Stated Principal Balance of the Mortgage Loans in such Loan Group for the preceding Distribution Date and the related Distribution Date;
(H) for each Shifting Interest Loan Group, the Senior Percentage, the Senior Prepayment Percentage, the Subordinate Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(I) the Aggregate Senior Percentage and the Aggregate Subordinate Percentage for such Distribution Date;
(J) the amount of the Servicing Fees paid to or retained by the Servicers with respect to each Shifting Interest Loan Group and such Distribution Date;
(K) the Pass-Through Rates Rate for each such Class of Shifting Interest Certificates with respect to such Distribution Date;
(viiL) with respect to the Current Principal Amount and/or Notional Amount Shifting Interest Mortgage Loans, the amount of each Class Periodic Advances included in the distribution on such Distribution Date and the aggregate amount of Certificates after Periodic Advances outstanding as of the close of business on the Determination Date immediately preceding such Distribution Date;
(viiiM) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Shifting Interest Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance ProceedsGroup, the purchase price in connection with the purchase number and aggregate principal amounts of Shifting Interest Mortgage Loans, cash deposits in connection with substitutions Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or bankruptcy) 31 to 60 days, 61 to 90 days and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased 91 or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basismore days, (bB) delinquent 60 to 89 days on a contractual basisin foreclosure, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately calendar month preceding monthsuch Distribution Date and (C) in bankruptcy, as of the close of business on the last day of the calendar month preceding such Distribution Date;
(xivN) for each Shifting Interest Loan Group, with respect to any Shifting Interest Mortgage Loans that became REO Properties during the preceding calendar month, the aggregate number of such Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding aggregated Stated Principal Balance of such Mortgage LoansLoans as of the close of business on the Determination Date preceding such Distribution Date and the date of acquisition of the REO Properties;
(xvO) for each Shifting Interest Loan Group, the total number and aggregate Outstanding Principal Balance principal balance of all Mortgage Loans as to which the Mortgaged Property was any REO Property Properties (and market value, if available) as of the end close of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator business on the Distribution Date, Determination Date preceding such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xixP) for each Shifting Interest Loan Group, the Average Loss Severity Percentageaggregate amount of Realized Losses incurred during the preceding calendar month;
(Q) for each Shifting Interest Loan Group, the Reimbursement Amount;
(R) for each Shifting Interest Loan Group, the amount of Recoveries;
(S) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(T) any material modifications, extensions or waivers to Shifting Interest Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date;
(U) for each Shifting Interest Loan Group, the number and aggregate Stated Principal Balance of Shifting Interest Mortgage Loans, the weighted average Mortgage Interest Rate, the weighted average remaining term, each as of the close of business on the last day of the calendar month preceding such Distribution Date;
(V) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of Shifting Interest Mortgage Loan representations and warranties of which the Securities Administrator has knowledge or has received written notice;
(W) unless such information is otherwise set forth in the Form 10-D relating to such Distribution Date and provided that the Securities Administrator is reasonably able to include such information in the statement, material breaches of any covenants under this Agreement of which the Securities Administrator has knowledge or has received written notice; and
(xxX) whether any exchanges of Exchangeable Certificates or Exchangeable REMIC Certificates have taken place since the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such preceding Distribution Date. The information set forth above shall be calculated , and, if applicable, the Class designations, Class Certificate Balances and any interest and principal paid, including any shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or reported, as the case may be, Exchangeable Certificates that were received by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on Certificateholder as a result of such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇exchange.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Funding Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution based, as applicable, on information provided to Certificateholdersit by the Master Servicer, the Securities Administrator shall prepare and make available to the parties hereto and each Certificateholder via on the Securities Administrator’s internet 's website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case each Holder of the Residual Regular Certificates, an initial Current Principal Amount of $100the Trustee, the Master Servicer and the Rating Agencies, a statement as to the distributions made on such Distribution Date setting forth:
(i) (A) the Current Principal Amount and/or Notional Amount amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates immediately prior Regular Certificates, separately identified, allocable to principal and (B) the amount of the distribution made on such Distribution DateDate to the Holders of the Class P Certificates allocable to Prepayment Charges;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates (other than the Class P Certificates) allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Regular Certificates (other than the Class P Certificates) for such Distribution Date;
(viiv) the Pass-Through Rates aggregate amount of Advances for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvv) the number and aggregate Outstanding Aggregate Stated Principal Balance of all the Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(vi) the Overcollateralized Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount for such Distribution Date;
(vii) the aggregate Certificate Principal Balance or Notional Amount, as applicable, of each Class of Regular Certificates after giving effect to the amounts distributed on such Distribution Date (in the case of each Class of the Class M Certificates, separately identifying any reduction thereof due to the allocation of Realized Losses thereto);
(viii) the number and Aggregate Stated Principal Balance of Mortgage Loans (a) Delinquent 31 to 60 days, (b) Delinquent 61 to 90 days, (c) Delinquent 91 days or more, in each case as of the end of the calendar month prior to such Distribution Date;
(ix) the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
(x) the weighted average remaining term to maturity, weighted average Mortgage Rate and weighted average Net Mortgage Rate of the Mortgage Loans as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Custodial Account or the Certificate Account for such Distribution Date;
(xiv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Servicer or Master Servicer pursuant to Section 3.17, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xv) the Accrued Certificate Interest in respect of each Class of the Class A Certificates, Class M Certificates and Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of the Class A Certificates and Class M Certificates for such Distribution Date;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage LoanOvercollateralization Target Amount, (B) accrued interest through the date of foreclosure Overcollateralized Amount and (C) foreclosure expenses) of any REO Property; provided thatthe amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount, in the event that such information is not available each case after giving effect to the Securities Administrator distribution made on the Regular Certificates on such Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the aggregate amount of Net Deferred Interest the Master Servicer Fee received by the Master Servicer with respect to the related Due Period and Realized Losses allocated such other customary information as the Securities Administrator deems necessary or desirable, or which a Certificateholder reasonably requests, to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Datesenable Certificateholders to prepare their tax returns;
(xviii) the amount withdrawn aggregate of any deposits to and withdrawals from the Class A/B Basis Risk Shortfall Reserve Fund (with respect to for such Distribution Date and the first three distribution dates only), remaining amount on that Distribution Datedeposit in the Basis Risk Shortfall Reserve Fund after such deposits and withdrawals;
(xix) the Average Loss Severity Percentage; andAvailable Distribution Amount for such Distribution Date;
(xx) the Senior Percentageamount paid under the Corridor Contracts. On each Distribution Date, Senior Prepayment Percentagethe Securities Administrator shall provide Bloomberg Financial Markets, Subordinate Percentage and Subordinate Prepayment Percentage, in L.P. ("Bloomberg") CUSIP level factors for each case, for Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and Bloomberg. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) . Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willshall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Certificate, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and (a)(vii) above with respect to the Certificatesabove, plus information with respect to the amount aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the any requirements of the CodeCode and regulations thereunder as from time to time are in force. Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R Certificate a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time are in force.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group and Loan Subgroup;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group and Loan Subgroup) and Subsequent Recoveries during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group and Loan Subgroup, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group and Loan Subgroup remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and Loan Subgroup regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) for each Loan Group and Loan Subgroup, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group and Loan Subgroup, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the related Mortgage Loan, Loan and (B) accrued interest through the date of foreclosure and foreclosure, minus (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group and Loan Subgroup; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group and Loan Subgroup;
(xix) for each related Loan Subgroup, the Average Loss Severity then applicable Group I Senior Percentage and Group II Senior Percentage; and, Group I Senior Prepayment Percentage and Group II Senior Prepayment Percentage, Group I Senior Mezzanine and Group I Subordinate Percentage and Group II Subordinate Percentage and Group I Senior Mezzanine and Group I Subordinate Prepayment Percentage and Group II Subordinate Prepayment Percentage;
(xx) the Senior Percentageaggregate amount of Deferred Interest added to the Scheduled Principal Balance of any Loan Subgroup II-1, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, II-2 or II-3 Mortgage Loan; and
(xxi) the amount of any Subsequent Recovery for such Distribution Date, and the amount by which the Current Principal Amount of each Class of related Subordinate Certificates was increased as a result thereof. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the 104 Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class B-IO Certificates, an initial Current Principal Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date;
(xx) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(xxi) the amount of the distribution made on such Distribution Date to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contracts;
(xxii) the cumulative amount of Applied Realized Loss Amounts to date; and
(xxiii) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at w▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-8)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of each of the Residual Class R-I, Class R-II, Class R-III and Class R-IV Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average Loss Severity then applicable Group 1, Group 2 and Group 3 Senior Percentage; and, Group 1, Group 2 and Group 3 Senior Prepayment Percentage, Group 1, Group 2 and Group 3 Subordinate Percentage and Group 1, Group 2 and Group 3 Subordinate Prepayment Percentage;
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, amount of Deferred Interest; and
(xxi) any Diverted Amount for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorAdministrator and the Trustee, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator and the Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during https://www.corpora▇▇▇▇▇▇▇.▇▇.▇▇▇/▇▇▇▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ng the prior calendar year as Trustee's website service can be obtained by calling the Trustee's investor relations desk at (800) 735-7777. The ▇▇▇▇▇▇▇ ▇▇▇▇▇ have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the aggregate of amounts reported pursuant parties, and the Trustee shall provide timely and adequate notification to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and all parties regarding any such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codechange.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Cert Se 03 Cl1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan Loan, (iv) the amount, if any, included in Net Liquidation Proceeds representing a payment under the Supplemental PMI Policy and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average Loss Severity then applicable Group 1, Class 2, Class 3 and Group 4 Senior Percentage; and, Group 1, Class 2, Class 3 and Group 4 Senior Prepayment Percentage, Group 1, Class 2, Class 3 and Group 4 Subordinate Percentage and Group 1, Class 2, Class 3 and Group 4 Subordinate Prepayment Percentage;
(xx) the Senior PercentageStop-Loss Amount as of the Cut-off Date, Senior the Stop-Loss Amount as of the end of the related Prepayment PercentagePeriod and reduction in the Stop-Loss Amount during the related Prepayment Period; and
(xxi) with respect to the related Prepayment Period, Subordinate Percentage (i) the number of Mortgage Loans for which a payment was made by the Supplemental PMI Insurer under the Supplemental PMI Policy and Subordinate Prepayment Percentagethe aggregate amount of any such payments, in each case(ii) the number of Mortgage Loans for which a claim has been presented to the Supplemental PMI Insurer under the Supplemental PMI Policy and the aggregate amount of any such outstanding claims, and (iii) the number of Mortgage Loans for which a claim was presented to the Supplemental PMI Insurer under the Supplemental PMI Policy which claim was denied by the Supplemental PMI Insurer and the aggregate amount of any such Distribution Datedenied claims. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." As▇▇▇▇▇▇▇.▇ ▇▇ ▇▇▇.” Assistance in using ng the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Part▇▇▇ ▇▇▇) ▇ ▇▇▇ ▇-▇▇▇▇. Parties that are unable nable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount or Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Senior Percentage, Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Senior Prepayment Percentage, the Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Subordinate Prepayment Percentage and the Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"www.ctslink.com." Assistance in usi▇▇ ▇▇.▇ ▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website ▇ can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the un▇▇▇▇ ▇▇ ▇▇▇ ▇▇e above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during www.jpmorgan.com/sfr. Assistance in ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇'▇ website service can be obtained by calling the prior calendar year as to the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii877) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code722-1095.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pas THR Certs Ser 2003-3)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I, Group II, Group III and Group IV Senior Percentage, Group I, Group II, Group III and Group IV Senior Prepayment Percentage, Group I, Group II, Group III and Group IV Subordinate Percentage and Group I, Group II, Group III and Group IV Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in ▇ using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. P▇▇▇▇. Parties that are ▇▇ ▇▇▇▇ ▇▇e unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during "https://trustinve▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇". ▇▇▇▇▇▇▇▇▇▇ ▇▇ using the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii800) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code934-6802.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-9)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller, the Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or or, in the case of the Residual Class X Certificates, a Notional Amount of $1,000, or, in the case of the Class R Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or (or Notional Amount in the case of the Class X Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of Certificates (other than the Class PO Certificates) during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates (other than the Class PO Certificates);
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date(other than the Class PO Certificates);
(vi) the Class X Pass-Through Rates for each Class of Certificates Rate with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each applicable Class of Certificates after such Distribution DateDate and the Class PO Deferred Amount;
(viii) the amount of any Monthly Advances, Advances and Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date);
(xiixi) the number of Mortgage Loans (excluding REO Property) ), remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was were REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and to the extent of, information on data provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported Servicer pursuant to subclauses (a)(iiSubsection 6.05(a) and (a)(v) above and, with respect to prior periods, Section 6.06, upon which the Certificates, plus Trustee may conclusively rely. The information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required furnished by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations Master Servicer shall be deemed sufficient for the Trustee to have been satisfied calculate any statements it is required to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codemake.
Appears in 1 contract
Sources: Terms Agreement (Bear Stearns Mortgage Securities Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity PercentagePercentage for each Loan Group; and
(xxxix) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 20062005, the Securities Administrator will, upon request, Trustee will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine and advises the Trustee to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 05 3)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersCertificateholders pursuant to Article Six, the Securities Administrator Trustee shall make available mail, or cause the Paying Agent to the parties hereto and mail, to each Certificateholder via at the Securities Administrator’s internet website address appearing on the Certificate Register a statement as set forth below, of the following information, expressed with respect to clauses related Distribution Date and Due Period prepared by the Trustee (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of (vii) through (x) and (xii) below, based on information furnished by the Residual Certificates, an initial Current Principal Amount of $100Servicer) setting forth:
(i) the Current Principal Amount and/or Notional Amount of aggregate amount distributed on each Class of Certificates immediately prior to such Distribution DateCertificates, separately identifying the portion thereof which constitutes principal and interest;
(ii) the amount Interest Distribution Amount, Carryover Interest Distribution Amount, Liquidation Loss Interest Amount and Unpaid Liquidation Loss Interest Shortfall in respect of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount Formula Principal Distribution Amount and Unpaid Certificate Principal Shortfall in respect of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(iv) the Accelerated Principal Distribution Amount, Overcollateralization Reduction Amount, Target Overcollateralization Amount and Current Overcollateralization Amount;
(v) the amount Class [__], Class [__], Class [__] and Class [__] Certificate Principal Balances, after giving effect to the distributions of the distribution allocable to interest principal made on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for each Adjusted Certificate Principal Balance of the Class [__], Class [__] and Class [__] Certificates, after giving effect to the distributions of Certificates with respect to principal and allocation of Liquidation Loss Amounts made on such Distribution Date;
(vii) the Current Monthly Servicing Fee and other servicing compensation;
(viii) the number of and aggregate Contract Principal Amount and/or Notional Amount Balance of each Class Contracts with payments delinquent 30 to 59, 60 to 89 and 90 or more days, respectively;
(ix) the number of Certificates after and aggregate Contract Principal Balance of Contracts relating to Manufactured Homes that were repossessed since the immediately preceding Distribution Date;
(x) the number of and aggregate Contract Principal Balance of Contracts (other than Liquidated Contracts) relating to Manufactured Homes that were repossessed remaining in the Trust Fund on such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount Pool Factor for each Class of Scheduled Principal and Principal Prepayments, (including but separately identifying Certificates after giving effect to the payment of principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off to be made on such Distribution Date;; and
(xii) [the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period Realized Losses and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Cumulative Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The ] such other customary factual information set forth above shall be calculated or reported, as is available to the Servicer as the case may be, by the Securities Administrator, based solely on, Servicer deems necessary and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇reasonably from its existing data base to enable Certificateholders to prepare their tax returns. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of each calendar year, subject to the preceding calendar year beginning next sentence, but in 2006no event later than [__] days after the end of such year, the Securities Administrator will, upon request, Trustee shall prepare and furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was the aggregate Holder of amounts reported pursuant to subclauses a Certificate, a statement containing the information set forth in clauses (a)(iii) and (a)(vii) above with respect to above, in the case of Class A, Class [__] and Class [__] Certificateholders, and (v), (vi) and (vii) above, in the case of Holders of Subordinated Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such Person was a Certificateholder. Such obligations obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the requirements Code as from time to time in force.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish or cause to be furnished to each Person who at any time during the calendar year was a holder of Class [__] Certificates a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was a holder of the Class [__] Certificates. Such obligation shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirement of the Code.
(c) A Certificateholder holding (or Certificate Owner owning beneficial interests in) Certificates of a Class representing in the aggregate at least [__]% of the Percentage Interest of such Class shall, upon written request to the Trustee, be entitled to receive copies of all reports provided to the Trustee at such Holder's or Owner's expense.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently a)Concurrently with each -------------------------------- distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller, the Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or or, in the case of the Residual Class X Certificates, a Notional Amount of $1,000, or, in the case of the Class R-1 or R-2 Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or (or Notional Amount in the case of the Class X Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Pass- Through Rate with respect to each Class of Certificates (other than the Class PO Certificates) during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates (other than the Class PO Certificates);
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date(other than the Class PO Certificates);
(vi) the Pass-Through Rates for each the Class of A, Class X and Class R-2 Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each applicable Class of Certificates after such Distribution DateDate and the Class PO Deferred Amount;
(viii) the amount of any Monthly Advances, Advances and Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
); (xiixi) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Icifc Secured Assets Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Class X Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount Amount, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates (other than the Residual Certificates);
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Datethat bears interest;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distribution, separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses on the Mortgage Loans (listed separately for each category of Realized LossLoss and for each Loan Group) and 116 Subsequent Recoveries on the Mortgage Loans during the related Prepayment Period and cumulatively since the Cut-off Date with respect to the Initial Mortgage Loans, and cumulatively since the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (ia) the loan number, (iib) the Scheduled Principal Balance of such Initial Mortgage Loan as of the Cut-off Date or such Subsequent Mortgage Loan as of the related Subsequent Cut-off Date, as the case may be, (iic) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiid) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ive) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period period, and cumulatively since the Cut-off DateDate with respect to the Initial Mortgage Loans, and cumulatively since the related Subsequent Cut-off Date with respect to the related Subsequent Mortgage Loans, as the case may be;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
; (xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2005-Ar3)
Statements to Certificateholders. (a) On each Distribution Determination Date, the Master Servicer shall forward to the Trustee and the Paying Agent for mailing to each Certificateholder, and concurrently with each distribution to Certificateholders, Certificateholders the Securities Administrator Trustee shall make available mail to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed them a statement with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100their distribution setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of the distributions to Holders of each Class of Class A and Class M Certificates immediately prior to for such Distribution Date, separately stating the portions thereof allocable to interest and allocable to principal;
(ii) the amount of any Interest Carry Forward Amount for each Class paid on such Distribution Date and the distribution allocable amount of any Interest Carry Forward Amount for each Class remaining after giving effect to principal the distributions on each applicable Class of Certificatessuch Distribution Date;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates Extra Principal Distribution Amount for such Distribution Date;
(iv) the Principal Distribution Amount for such Distribution Date, separately stating the components thereof;
(v) the number and aggregate Principal Balance of any Home Equity Loans purchased by the Depositor or the Master Servicer with respect to the related Collection Period pursuant to Sections 2.02, 2.04, 3.01 and 3.07;
(vi) the Pass-Through Rates amount of any Substitution Adjustment Amounts for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount Servicing Fee for such Collection Period and any accrued amounts thereof that remain unpaid for previous Collection Periods;
(viii) the Realized Losses for such Collection Period and the amount of each such losses, if any, constituting Applied Realized Loss Amounts;
(ix) the amount, if any, to be distributed to the Class of Certificates after R Certificateholders on such Distribution Date;
(viiix) The Overcollateralization Amount, Overcollateralization Deficiency, the amount of any Monthly AdvancesOvercollateralization Release Amount, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date Targeted Overcollateralization Amount and the amount and source (separately identified) of any distribution in respect thereof included in Monthly Excess Cashflow for such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Distribution Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) The number of Home Equity Loans outstanding at the amount beginning and end of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Datesuch Collection Period;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund The Pool Balance as of the end of the related Prepayment such Collection Period;
(xiii) information regarding any Mortgage Loan delinquencies as the Certificate Principal Balance of each Class of Certificates and the end of Pool Factor after giving effect to the related Prepayment Period, including distribution on such Distribution Date;
(xiv) the aggregate number and aggregate Outstanding Principal Balance Balances of Mortgage Home Equity Loans (ax) as to which the scheduled monthly payment is contractually delinquent 30 to for 30-59 days on a contractual basisdays, (b) delinquent 60 to 60-89 days on a contractual basisand 90 or more days, respectively, and (cy) delinquent 90 or more days on a contractual basisthat have become REO, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage LoansCollection Period;
(xv) the number and aggregate Outstanding Principal Balance The unpaid principal amount of all Mortgage Home Equity Loans as to which the Mortgaged Property was REO Property as of the end of the related Due that became Liquidated Home Equity Loans during such Collection Period;
(xvi) the The book value (within the sum meaning of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses12 C.F.R. ss. 571.13 or comparable provision) of any REO Property; provided that, real estate acquired through foreclosure or grant of a deed in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes availablelieu of foreclosure;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution DatesWhether a Trigger Event has occurred or is continuing;
(xviii) Such other information as is required by the amount withdrawn from Code and regulations thereunder to be made available to Holders of the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Regular Certificates; and
(xix) whether an Event of Default has occurred since the Average Loss Severity Percentage; and
(xx) the Senior Percentageprior Determination Date, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in specifying each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.Event of Default if one has occurred;
(b) In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount per Class A Certificate or Class M Certificate, as applicable, with a $1,000 denomination.
(c) The Master Servicer shall also give such statement to each Rating Agency at the time it gives such statement to the Trustee and the Paying Agent.
(d) Within a reasonable period of time 60 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a report Master Servicer shall prepare or cause to each Holder of the Certificates of record at any time during the prior calendar year as be prepared and shall forward to the aggregate of amounts reported pursuant to subclauses Trustee the information set forth in clauses (a)(iii) and (a)(vii) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year. Such obligations obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Master Servicer pursuant to the any requirements of the Code.
(e) On each Distribution Date, the Master Servicer shall forward to the Trustee for mailing to each Holder of a Class R Certificate a copy of the report forwarded to the Holders of Class A Certificates and Class M Certificates on such Distribution Date. The Master Servicer shall also forward to the Trustee for mailing to Holders of Class R Certificates a statement setting forth the amount of the distribution to Holders of Class R Certificates expressed as a dollar amount per Class R Certificate with a 10% Percentage Interest, together with such other information as the Master Servicer deems necessary or appropriate.
(f) Within 90 days after the end of each calendar year, the Master Servicer shall forward to the Trustee for mailing to each Person who at any time during the calendar year was the Holder of a Class R Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class R Certificate together with any other information relating to the Trust reasonably required in order to enable a Class R Certificateholder to prepare its federal income tax return. Such obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Master Servicer to the Trustee pursuant to any requirements of the Code. The Master Servicer shall further cause the Trust to comply with any requirements for the quarterly preparation, execution and distribution to Holders of Class R Certificates of Schedule Q to IRS Form 1066. 57 58 Article VI The Certificates
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HFC Revolving Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I, Group II, Group III, Group IV and Group V Senior Percentage, Group I, Group II, Group III, Group IV and Group V Senior Prepayment Percentage, Group I, Group II, Group III, Group IV and Group V Subordinate Percentage and Group I, Group II, Group III, Group IV and Group V Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii▇▇▇) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code▇▇▇-▇▇▇▇.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust Mort Pass THR Certs Ser 2003-8)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class B-IO Certificates, an initial Current Principal Amount Notional Balance of $1001,000:
(i) the Current Certificate Principal Amount and/or Balance or Notional Amount Principal Balance, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Balance or Notional Amount Principal Balance, as applicable, of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date;
(xx) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(xxi) the amount of the distribution made on such Distribution Date to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contracts;
(xxii) the cumulative amount of Applied Realized Loss Amounts to date; and
(xxiii) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Determination Date, the Master Servicer shall provide the Trustee [, the Certificate Insurer] and the Paying Agent access to a statement in order to make available to each Certificateholder, and concurrently with each distribution to Certificateholders, Certificateholders the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed them such statement with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100their distribution setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of each the distributions to Holders of the Class of A and Class M Certificates immediately prior to for such Distribution Date, separately stating the portions thereof allocable to interest and allocable to principal;
(ii) the amount of any Interest Carry Forward Amount and Supplemental Interest Amount for each Class paid on such Distribution Date and the distribution allocable amount of any Interest Carry Forward Amount or Supplemental Interest Amount for each Class remaining after giving effect to principal the distributions on each applicable Class of Certificatessuch Distribution Date;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodany Extra Principal Distribution Amount for such Distribution Date;
(iv) the Net Interest Shortfall and any other adjustments to interest at Principal Distribution Amount for such Distribution Date, separately stating the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatescomponents thereof;
(v) the Principal Carry Forward Amount for each Class paid on such Distribution Date and the amount of the distribution allocable to interest on any Principal Carry Forward Amount for each Class of Certificates for remaining after giving effect to the distributions on such Distribution Date;
(vi) the Pass-Through Rates for each Class number and aggregate Principal Balance of Certificates any Home Equity Loans purchased by the Depositor or the Master Servicer with respect to such Distribution Datethe related Collection Period pursuant to Sections 2.02, 2.04 and 3.01;
(vii) the Current Principal Amount and/or Notional Amount amount of each Class of Certificates after any Substitution Adjustment Amounts for such Distribution Date;
(viii) the amount of Servicing Fee for such Collection Period and any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributionaccrued amounts thereof that remain unpaid for previous Collection Periods;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during amount, if any, to be distributed to the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in Equity Certificateholder on such distributionDistribution Date;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment PeriodOvercollateralization Amount, (i) the loan numberInterim Overcollateralization Amount, (ii) the Scheduled Principal Balance of Interim Overcollateralization Deficiency, the Overcollateralization Release Amount, the Targeted Overcollateralization Amount and the Monthly Excess Cashflow for such Mortgage Loan as of the Cut-off Distribution Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount number of Scheduled Principal Home Equity Loans outstanding at the beginning and Principal Prepayments, (including but separately identifying the principal amount end of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Datesuch Collection Period;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund Pool Balance as of the end of the related Prepayment such Collection Period;
(xiii) information regarding any Mortgage Loan delinquencies as the Certificate Principal Balance of each Class of Certificates and the end of Pool Factor after giving effect to the related Prepayment Period, including distribution on such Distribution Date;
(xiv) the aggregate number and aggregate Outstanding Principal Balance Balances of Mortgage Home Equity Loans (ax) as to which the scheduled monthly payment is contractually delinquent 30 to for 30-59 days on a contractual basisdays, (b) delinquent 60 to 60-89 days on a contractual basisand 90 or more days, respectively, and (cy) delinquent 90 or more days on a contractual basisthat have become REO, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage LoansCollection Period;
(xv) the number and aggregate Outstanding Principal Balance unpaid principal amount of all Mortgage Home Equity Loans as to which the Mortgaged Property was REO Property as of the end of the related Due that became Liquidated Home Equity Loans during such Collection Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, real estate acquired through foreclosure or grant of a deed in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes availablelieu of foreclosure;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dateswhether a Trigger Event has occurred or is continuing;
(xviii) such other information as is required by the amount withdrawn from Code and regulations thereunder to be made available to Holders of the Class A/B Reserve Fund A and Class M Certificates;
(with respect to xix) whether a Master Servicer Termination Event has occurred since the first three distribution dates only)prior Determination Date, on that specifying each such Master Servicer Termination Event if one has occurred;
(xx) LIBOR for such Distribution Date;
(xixxxi) the Average Loss Severity PercentageClass A Formula Rate, Class A Pass-Through Rate, Class M Formula Rate and Class M Pass-Through Rate for such Distribution Date;
(xxii) [the amount of any Insured Payments, if any, for the related Distribution Date;]
(xxiii) [the Premium Amount for the related Distribution Date;]
(xxiv) [the Reimbursement Amount paid to the Certificate Insurer pursuant to Section 5.01(a)(x) for the related Distribution Date and other amounts due and owing to the Certificate Insurer under the Insurance Agreement and to be paid pursuant to Section 5.01(a)(xiii) for the related Distribution Date;]
(xxv) the amount of any Skip-A-Pay Advances for the related Collection Period; and
(xxxxvi) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, Skip-A-Pay Reimbursement Amount for such Distribution Date.
(b) In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount per Class A Certificate or Class M Certificate, as applicable, with a $1,000 denomination. The Trustee will make the reports referred to in this section (and, at its option, any additional files containing the same information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make in an alternative format) available each month, to any interested party, the monthly statement month to Certificateholders and other parties to this Agreement via the Securities Administrator’s website initially Trustee's website, which is presently located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇[ ]. Parties Persons that are unable to use the above distribution option website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating suchTrustee at [ ]. The Securities Administrator Trustee shall have the right to change the way such the reports referred to in this section are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and to the Securities Administrator Certificateholders. The Trustee shall provide timely and adequate notification to all above parties and to the Certificateholders regarding any such change.
(bc) The Master Servicer shall also give access to such statement to each Rating Agency at the time it gives access to such statement to the Trustee and the Paying Agent.
(d) Within a reasonable period of time 60 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a report Master Servicer shall prepare or cause to each Holder of the Certificates of record at any time during the prior calendar year as be prepared and shall forward or give access to the aggregate of amounts reported pursuant to subclauses Trustee the information set forth in clauses (a)(iii) and (a)(vii) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year. Such obligations obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Master Servicer pursuant to the any requirements of the Code.
(e) On each Distribution Date, the Master Servicer shall forward or give access to the Trustee, in electronic or written form as may be agreed upon by the Master Servicer and the Trustee, for making available to the Holder of the Equity Certificate a copy of the report forwarded to the Holders of Class A Certificates and Class M Certificates on such Distribution Date. The Master Servicer shall also forward or give access to the Trustee, in electronic or written form as may be agreed upon by the Master Servicer and the Trustee, for making available to the Holder of the Equity Certificate a statement setting forth the amount of the distribution to the Holder of the Equity Certificate, together with such other information as the Master Servicer deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HFC Revolving Corp)
Statements to Certificateholders. (a) On each Distribution Determination Date, the Master Servicer shall provide the Trustee and the Paying Agent access to a statement in order to make available to each Certificateholder, and concurrently with each distribution to Certificateholders, Certificateholders the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed them such statement with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100their distribution setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of each the distributions to Holders of the Class of A and Class M Certificates immediately prior to for such Distribution Date, separately stating the portions thereof allocable to interest and allocable to principal;
(ii) the amount of any Interest Carry Forward Amount and Supplemental Interest Amount for each Class paid on such Distribution Date and the distribution allocable amount of any Interest Carry Forward Amount or Supplemental Interest Amount for each Class remaining after giving effect to principal the distributions on each applicable Class of Certificatessuch Distribution Date;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodany Extra Principal Distribution Amount for such Distribution Date;
(iv) the Net Interest Shortfall and any other adjustments to interest at Principal Distribution Amount for such Distribution Date, separately stating the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatescomponents thereof;
(v) the Principal Carry Forward Amount for each Class paid on such Distribution Date and the amount of any Principal Carry Forward Amount for each Class remaining after giving effect to the distribution allocable to interest s on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for each Class number and aggregate Principal Balance of Certificates any Home Equity Loans purchased by the Depositor or the Master Servicer with respect to such Distribution Datethe related Collection Period pursuant to Sections 2.02, 2.04 and 3.01;
(vii) the Current Principal Amount and/or Notional Amount amount of each Class of Certificates after any Substitution Adjustment Amounts for such Distribution Date;
(viii) the amount of Servicing Fee for such Collection Period and any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributionaccrued amounts thereof that remain unpaid for previous Collection Periods;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during amount, if any, to be distributed to the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in Equity Certificateholder on such distributionDistribution Date;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment PeriodOvercollateralization Amount, (i) the loan numberInterim Overcollateralization Amount, (ii) the Scheduled Principal Balance of Interim Overcollateralization Deficiency, the Overcollateralization Release Amount, the Targeted Overcollateralization Amount and the Monthly Excess Cashflow for such Mortgage Loan as of the Cut-off Distribution Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount number of Scheduled Principal Home Equity Loans outstanding at the beginning and Principal Prepayments, (including but separately identifying the principal amount end of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Datesuch Collection Period;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund Pool Balance as of the end of the related Prepayment such Collection Period;
(xiii) information regarding any Mortgage Loan delinquencies as the Certificate Principal Balance of each Class of Certificates and the end of Pool Factor after giving effect to the related Prepayment Period, including distribution on such Distribution Date;
(xiv) the aggregate number and aggregate Outstanding Principal Balance Balances of Mortgage Home Equity Loans (ax) as to which the scheduled monthly payment is contractually delinquent 30 to for 30-59 days on a contractual basisdays, (b) delinquent 60 to 60-89 days on a contractual basisand 90 or more days, respectively, and (cy) delinquent 90 or more days on a contractual basisthat have become REO, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage LoansCollection Period;
(xv) the number and aggregate Outstanding Principal Balance unpaid principal amount of all Mortgage Home Equity Loans as to which the Mortgaged Property was REO Property as of the end of the related Due that became Liquidated Home Equity Loans during such Collection Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, real estate acquired through foreclosure or grant of a deed in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes availablelieu of foreclosure;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dateswhether a Trigger Event has occurred or is continuing;
(xviii) such other information as is required by the amount withdrawn from Code and regulations thereunder to be made available to Holders of the Class A/B Reserve Fund A and Class M Certificates;
(with respect to xix) whether an Event of Default has occurred since the first three distribution dates only)prior Determination Date, on that specifying each such Event of Default if one has occurred;
(xx) LIBOR for such Distribution Date;
(xixxxi) the Average Loss Severity PercentageClass A Formula Rate, Class A Pass-Through Rate, Class M Formula Rate and Class M Pass-Through Rate for such Distribution Date;
(xxii) the amount of any Skip-A-Pay Advances for the related Collection Period; and
(xxxxiii) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, Skip-A-Pay Reimbursement Amount for such Distribution Date.
(b) In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount per Class A Certificate or Class M Certificate, as applicable, with a $1,000 denomination. The Trustee will make the reports referred to in this section (and, at its option, any additional files containing the same information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make in an alternative format) available each month, to any interested party, the monthly statement month to Certificateholders and other parties to this Agreement via the Securities Administrator’s website initially Trustee's website, which is presently located at “w▇▇.www.abs.bankone.com. Persons that are unable to use the above website ar▇ ▇▇▇▇▇▇▇.▇ ▇▇ ▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have ▇ a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating suchTrustee at (800) 524-9472. The Securities Administrator Trustee shall have the right to change the way such reports the r▇▇▇▇▇▇ ▇▇▇▇▇▇▇d to in this section are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and to the Securities Administrator Certificateholders. The Trustee shall provide timely and adequate notification to all above parties and to the Certificateholders regarding any such change.
(bc) The Master Servicer shall also give access to such statement to each Rating Agency at the time it gives access to such statement to the Trustee and the Paying Agent.
(d) Within a reasonable period of time 60 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a report Master Servicer shall prepare or cause to each Holder of the Certificates of record at any time during the prior calendar year as be prepared and shall forward or give access to the aggregate of amounts reported pursuant to subclauses Trustee the information set forth in clauses (a)(iii) and (a)(vii) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year. Such obligations obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Master Servicer pursuant to the any requirements of the Code.
(e) On each Distribution Date, the Master Servicer shall forward or give access to the Trustee, in electronic or written form as may be agreed upon by the Master Servicer and the Trustee, for making available to the Holder of the Equity Certificate a copy of the report forwarded to the Holders of Class A Certificates and Class M Certificates on such Distribution Date. The Master Servicer shall also forward or give access to the Trustee, in electronic or written form as may be agreed upon by the Master Servicer and the Trustee, for making available to the Holder of the Equity Certificate a statement setting forth the amount of the distribution to the Holder of the Equity Certificate, together with such other information as the Master Servicer deems necessary or appropriate.
(f) Within 90 days after the end of each calendar year, the Master Servicer shall forward or give access to the Trustee for mailing to each Person who at any time during the calendar year was the Holder of the Equity Certificate a statement containing the applicable distribution information provided pursuant to this Section aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of the Equity Certificate together with any other information relating to the Trust reasonably required in order to enable an Equity Certificateholder to timely prepare and file its U.S. federal income tax returns and reports. Such obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Master Servicer to the Trustee pursuant to any requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HFC Revolving Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Class R-I and Class R-II Certificates, an initial Current Principal Amount of $50, or in the case of the Class R-III Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2 and Group 3 Senior Percentage, Group 1, Group 2 and Group 3 Senior Prepayment Percentage, Group 1, Group 2 and Group 3 Subordinate Percentage and Group 1, Group 2 and Group 3 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-10)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I-1, Group I-2, Group I-3, Group I-4, Group I-5, Group II-1, Group II-2, Group II-3, Group III-1 and Group III-2 Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2004-10)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution based, as applicable, on information provided to Certificateholdersit by the Master Servicer and the Derivative Providers, the Securities Administrator shall prepare and make available to the parties hereto and each Certificateholder via on the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case each Holder of the Residual Regular Certificates, an initial Current Principal Amount of $100the Trustee, the Master Servicer, the Credit Enhancer, the NIM Insurer and the Rating Agencies, a statement as to the distributions made on such Distribution Date setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of Certificates immediately prior to such Distribution Dateany Principal Prepayments included therein and (B) the aggregate of all scheduled payments of principal included therein;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodapplicable accrual periods for calculating distributions and general distribution dates;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatestotal cash flows received;
(v) the amount of the distribution allocable to interest Pass-Through Rate on each Class of Regular Certificates for such Distribution Date;
(vi) the Pass-Through Rates Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Distribution DatePass-Through Rate was limited by the related Net WAC Rate;
(vii) the Current Principal Amount and/or Notional Amount aggregate amount of each Class Monthly Advances included in the distribution on such Distribution Date, the aggregate amount of Certificates after such unreimbursed Monthly Advances at the close of business on the Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments related Overcollateralized Amount and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributionrelated Overcollateralization Target Amount for each applicable Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution[reserved];
(x) with With respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment PeriodGroup, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Aggregate Stated Principal Balance of, and Realized Losses on, the related Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xi) the Certificate Principal Balance or Notional Amount, as applicable, of each Class before 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;
(xii) with respect to each Loan Group, the number and aggregate Stated Principal Balance of Mortgage Loans, using the OTS method, (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the end of the preceding calendar month, determined in the aggregate;
(xiii) with respect to each Loan Group, the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
(xiv) with respect to each Loan Group, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xv) with respect to each Loan Group, the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xvi) the book value (amount, if any, of fees or expenses accrued and paid, with an identification of the sum of (A) payee and the Outstanding Principal Balance general purpose of such Mortgage Loan, (B) accrued interest through fees including the date related amount of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available Servicing Fees paid to or retained by the Securities Administrator on Servicer for the Distribution Date, such information shall be furnished promptly after it becomes availablerelated Due Period;
(xvii) the aggregate amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since extraordinary Trust Fund expenses withdrawn from the prior Distribution Date and in the aggregate Account for all prior such Distribution DatesDate;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to each Loan Group, the first three distribution dates only)aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, on that to the extent not covered by payments by the Servicer or Master Servicer pursuant to Section 1.04, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xix) the Average Loss Severity Percentage; andCurrent Interest and Interest Carry Forward Amount in respect of each Class of Certificates for such Distribution Date;
(xx) the Senior PercentageClass III-A-1 Policy Premium paid, Senior Prepayment Percentagethe Class III-A-1 Insured Amount, Subordinate Percentage and Subordinate Prepayment Percentageif any, in each case, paid by the Certificate Insurer under the Class III-A-1 Policy for such Distribution Date, the aggregate amount of unpaid Class III-A-1 Policy Premiums for all prior Distribution Dates and the aggregate related Insured Amount for all prior Distribution Dates paid by the Certificate Insurer under the Class III-A-1 Policy and not yet reimbursed;
(xxi) the Class III-A-2 Policy Premium paid, the Class III-A-2 Insured Amount, if any, paid by the Certificate Insurer under the Class III-A-2 Policy for such Distribution Date, the aggregate amount of unpaid Class III-A-2 Policy Premiums for all prior Distribution Dates and the aggregate related Insured Amounts for all prior Distribution Dates paid by the Certificate Insurer under the Class III-A-2 Policy and not yet reimbursed;
(xxii) with respect to each Loan Group, the related Interest Remittance Amount and the related Principal Distribution Amount for such Distribution Date;
(xxiii) with respect to each Loan Group I and Loan Group II, the amount of the Prepayment Charges remitted by the Servicer;
(xxiv) unless otherwise reported in the Form 10-D relating to such Distribution Date, with respect to the Mortgage Loans and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xxv) with respect to any Mortgage Loan in each Loan Group 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;
(xxvi) the amount received on each Distribution Date from each of (A) the Group I Cap Contract Provider in respect in the Group I Cap Contract, (B) the Group III Cap Contract Provider in respect in the Group III Cap Contract and (C) the Group III Floor Contract Provider in respect in the Group III Floor Contract;
(xxvii) Unless otherwise reported in the Form 10-D relating to such Distribution Date, updated pool composition data including the following: weighted average Mortgage Rate, weighted average remaining term to maturity and weighted average Net Mortgage Rate of the Mortgage Loans in each Loan Group as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
(xxviii) the related Net Swap Payment payable on each Distribution Date from the Supplemental Interest Trust to the related Swap Provider pursuant to the related Swap Agreement, and the related Net Swap Payment payable to the Supplemental Interest Trust from the related Swap Provider pursuant to the related Swap Agreement on such Distribution Date;
(xxix) with respect to each Loan Group, unless otherwise reported in the Form 10-D relating to such Distribution Date, material breaches of Mortgage Loan representations or warranties or transaction covenants. On each Distribution Date, the Securities Administrator shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Securities Administrator and Bloomberg. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) . Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willshall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Certificate, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and (a)(vii) above with respect to the Certificatesabove, plus information with respect to the amount aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the any requirements of the CodeCode and regulations thereunder as from time to time are in force. Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R Certificate or a Class RX Certificate a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to any requirements of the Code as from time to time are in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-3)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, Date the Securities Administrator Trustee shall make available to each Holder of a Certificate and to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth belowCompany, the following informationMaster Servicer, expressed with respect the Certificate Insurer and the Rating Agencies, a statement based on information provided by the Master Servicer as to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100such distribution setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates immediately prior (other than the Class A-IO Certificates), separately identified, allocable to such Distribution Dateprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Regular Certificates for such Distribution Date;
(viiv) the Pass-Through Rates aggregate amount of Advances for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvv) the number and aggregate Outstanding Stated Principal Balance of all the Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(vi) the Overcollateralized Amount, the Excess Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount for such Distribution Date;
(vii) the aggregate Certificate Principal Balance or Notional Amount, as applicable, of each Class of Regular Certificates after giving effect to the amounts distributed on such Distribution Date (in the case of each Class of the Mezzanine Certificates, separately identifying any reduction thereof due to the allocation of Realized Losses thereto);
(viii) the number and aggregate Stated Principal Balance of Mortgage Loans (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days, (c) delinquent 91 days or more, in each case as of the end of the calendar month prior to such Distribution Date;
(ix) the number, aggregate principal balance and book value of any REO Properties as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs;
(x) the weighted average remaining term to maturity, weighted average Mortgage Rate and weighted average Net Mortgage Rate of the Mortgage Loans as of the close of business on the first day of the calendar month in which such Distribution Date occurs;
(xi) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of extraordinary Trust Fund expenses withdrawn from the Custodial Account or the Certificate Account for such Distribution Date;
(xiv) the aggregate amount of any Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.23, and the aggregate amount of Relief Act Interest Shortfalls for such Distribution Date;
(xv) the Monthly Interest Distributable Amount in respect of each Class of the Class A Certificates, Class R Certificates and Mezzanine Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to each Class of the Class A Certificates, Class R Certificates and Mezzanine Certificates for such Distribution Date;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage LoanOvercollateralization Target Amount, (B) accrued interest through the date of foreclosure Overcollateralized Amount and (C) foreclosure expenses) of any REO Property; provided thatthe amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount, in the event that such information is not available each case after giving effect to the Securities Administrator distribution made on the Regular Certificates on such Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) when the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Stepdown Date and in the aggregate for all prior Distribution Datesor a Trigger Event has occurred;
(xviii) the aggregate amount withdrawn from of servicing compensation received by the Class A/B Reserve Fund (Master Servicer with respect to the first three distribution dates only)related Due Period and such other customary information as the Trustee deems necessary or desirable, on that Distribution Dateor which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(xix) the Average Loss Severity PercentageAvailable Distribution Amount for such Distribution Date;
(xx) any Insured Payment for such Distribution Date, and the respective portions thereof allocable to principal and interest for the related Insured Certificates; and
(xxxxi) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for amount of any Certificate Insurance Payment made on such Distribution Date, the amount of any reimbursement payment made to the Certificate Insurer on such Distribution Date pursuant to Sections 4.01(a)(iii), 4.01(b)(ii), 4.01(c)(ii) and 4.01(d) and the amount of Cumulative Insurance Payments after giving effect to any such Certificate Insurance Payment or any such reimbursement payment to the Certificate Insurer. The Trustee will make the monthly statements (and, at its option, any additional files containing the same information set forth above shall be calculated or reportedin an alternative format) available each month to Certificateholders, as the case may be, by Certificate Insurer and other parties to this Agreement via the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master ServicerTrustee's internet website. The Securities Administrator may conclusively rely on such information and Trustee's internet website shall not initially be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w"www.ctslink.com". Assistance in using ▇▇.▇ ▇▇▇▇▇▇▇.▇ ▇▇▇.” Assistance in using the website can ▇ be obtained by calling the Securities Administrator’s Trustee's customer service desk at (▇▇▇301) ▇▇▇815-6600. Such parties that are ▇▇▇▇. Parties that are unable to use ▇▇ ▇▇ ▇▇▇ the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports monthly statements are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such change.
changes. In the case of information furnished pursuant to subclauses (bi) Within and (ii) above, the amounts shall also be expressed as a dollar amount per Single Certificate. On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and Bloomberg. The Trustee shall provide to each Certificateholder any written reports or other information required by the Code and regulations thereunder as from time to time are in force. In addition, upon written request, within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willTrustee shall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Certificateholder, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and - (a)(viii) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codeyear or applicable portion thereof during which such person was a Certificateholder.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities AdministratorTrustee’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodcalendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) delinquent Delinquent 30 to 59 days on a contractual basis, (b) delinquent Delinquent 60 to 89 days on a contractual basis, and (c) delinquent Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentageaggregate amount withdrawn from the Group III Pre-Funding Account and the Group III Interest Coverage Account pursuant to Section 4.06 and Section 4.07, respectively, prior to a Distribution Date, the amount remaining on deposit in the Group III Pre-Funding Account (exclusive of investment income) and in the Group III Interest Coverage Account (exclusive of investment income), following such Distribution Date, and the amount withdrawn from the Group III Pre-Funding Account and used to buy Group III Subsequent Mortgage Loans prior to such Distribution Date; and
(xx) the then applicable Group I, Group II and Group III Senior Percentage, Group I, Group II and Group III Senior Prepayment Percentage, Group I, Group II and Group III Subordinate Percentage and Group I, Group II and Group III Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator Trustee may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities AdministratorTrustee’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062008, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information information, upon request, with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-5)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Average Loss Severity Percentage for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group I, Group II, Group III, Group IV, Group V, Group VI, Group VII, Group VIII and Group IX Senior Percentage, Group I, Group II, Group III, Group IV, Group V, Group VI, Group VII, Group VIII and Group IX Senior Prepayment Percentage, Group I, Group II, Group III, Group IV, Group V, Group VI, Group VII, Group VIII and Group IX Subordinate Percentage and Group I, Group II, Group III, Group IV, Group V, Group VI, Group VII, Group VIII and Group IX Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in ▇ using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. P▇▇▇▇. Parties that are ▇▇ ▇▇▇▇ ▇▇e unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during www.jpmorgan.com/▇▇▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇sing the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii877) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code722-1095.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Arm Trust 03-7)
Statements to Certificateholders. Concurrently with each distribution charged to the Certificate Account on a Distribution Date the Trustee shall forward to the Certifi cate Insurer and each Rating Agency and shall mail to each Holder of a Certificate, a written statement setting forth the following information with respect to the applicable subclass of Class A Certificates to which such statement (a "Statement to Certificateholders") relates:
(a) On each the amount of such distribution to Holders of Class A Certificates allocable to (i) Class A Monthly Principal and (ii) any Excess Cash Distribution;
(b) the amount of such distribution to Class A Certificateholders allocable to Class A Monthly Interest;
(c) the Certificate Principal Balance of the related subclass of Class A Certificates, after giving effect to the distribution of Class A Monthly Principal and any Excess Cash Distribution on such Distribution Date, concurrently with each distribution to Certificateholders, ;
(d) the Securities Administrator shall make available to aggregate Principal Balances of the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, Mortgage Loans for the following informationDistribution Date;
(e) the amount of unreimbursed Monthly Advances and/or Servicing Advances, expressed if any, separately identifying the amount, if any, of funds withdrawn from the Collection Account on such Distribution Date with respect to clauses Monthly Advances and/or Servicing Advances;
(f) the number and aggregate Principal Balances of Mortgage Loans (including the Principal Balances of all Mortgage Loans in foreclosure) contractually delinquent (i) through one month and (viiii) in the aggregate two months and (iii) three months or more, as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificatesend of the related Collection Period (including Mortgage Loans in foreclosure or relating to REO properties);
(g) the number and aggregate Principal Balances of the Mortgage Loans in foreclosure or other similar proceedings, an initial Current and the number and aggregate Principal Amount Balance of $100:Mortgage Loans, the Mortgagor of which is known by the Servicer to be in bankruptcy as of the end of the related Collection Period;
(h) the book value of any real estate acquired through foreclosure, grant of a deed in lieu of foreclosure or otherwise and the number and Principal Balances of the Mortgage Loans relating thereto;
(i) the Current Principal Amount and/or Notional Amount Coverage Amount, the Required Coverage Amount, the Coverage Surplus, if any, the Coverage Deficit, if any, the Rolling Delinquency Percentage, the Loss Percentage and the Rolling Loss Percentage and amounts reimbursable to the Certificate Insurer pursuant to clause first of each Section 5.01;
(j) any Insured Payment in respect of the related subclass of Class of A Certificates immediately prior relating to such Distribution Date;
(iik) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates Available Funds for such Distribution Date;
(vil) the Pass-Through Rates for each Class number and aggregate Principal Balances of Certificates with respect to such Distribution Date;
(vii) all Mortgage Loans that were the Current subject of a Principal Amount and/or Notional Amount Prepayment during the related Collection Period, the aggregate amount of each Class of Certificates after such Distribution Date;
(viii) Principal Prepayments collected or deemed collected during the related Collection Period and the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by partial Principal Prepayment collected or deemed collected during the Master Servicer or the Servicer included in such distributionrelated Collection Period;
(ixm) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as weighted average maturity of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and weighted aver age Mortgage Loan Rate of the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Collection Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xivn) the number of Mortgage Loans in the foreclosure process as of the beginning and the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due re lated Collection Period;
(xvio) Realized Losses incurred during the book value (Collection Period and cumulative Realized Losses incurred since the sum Closing Date, including the number of (A) the Outstanding Mortgage Loans and Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available Loans pertaining to the Securities Administrator on Realized Losses that occurred during the Distribution Date, such information shall be furnished promptly after it becomes availablerelated Collection Period;
(xviip) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since Certificate Insurer Premium for the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentagerelated Collection Period; and
(xxq) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The other information set forth above shall be calculated or reported, as the case Certificate Insurer may be, by the Securities Administrator, based solely on, and reasonably request to the extent of, such information provided is available to the Securities Administrator Trustee from the Servicer and is produced by the Master Servicer in the ordinary course of the Servicer's business. The Securities Administrator may conclusively rely on such In the case of information furnished pursuant to subclauses (a) and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party(b) above, the monthly statement amounts shall be expressed as a dollar amount per Certificate with a $1,000 principal denomination. Within 90 days after the end of each calendar year, the Trustee shall mail such report to Certificateholders via the Securities Administrator’s website initially located at “wDona▇▇.▇▇▇, ▇▇fk▇▇ & ▇enr▇▇▇▇, ▇▇7 ▇▇▇▇ ▇▇▇▇▇▇▇., ▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇ ▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator ▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇tention: Mortgage & Asset Backed Finance, (which report shall have the right to change the way such reports are distributed include, in order to make such distribution more convenient and/or more accessible addition to the partiesin formation contained in reports to others hereunder, the total amount of interest on the Mortgage Loans for the period covered by such report), and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Class A Certificateholder, a statement for each Certificateholder containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iia) and through (a)(vc) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar year or, in the case of each Person who was a Class A Certificateholder for a portion of such calendar year. Such obligations shall be deemed to have been satisfied to , setting forth such information for each month thereof for the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements portion of the Codeyear during which such Person was a Certificateholder. The Servicer shall provide any other information necessary in order to report income in respect of the Certificateholders for federal income tax purposes.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Aames Capital Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodcalendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) delinquent Delinquent 30 to 59 days on a contractual basis, (b) delinquent Delinquent 60 to 89 days on a contractual basis, and (c) delinquent Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentageaggregate amount withdrawn from the Group II Pre-Funding Account and the Group II Interest Coverage Account pursuant to Section 4.06 and Section 4.07, respectively, prior to a Distribution Date, the amount remaining on deposit in the Group II Pre-Funding Account (exclusive of investment income) and in the Group II Interest Coverage Account (exclusive of investment income), following such Distribution Date, and the amount withdrawn from the Group II Pre-Funding Account and used to buy Group II Subsequent Mortgage Loans prior to such Distribution Date; and
(xx) the then applicable Group I-1, Group I-2, Group II-1 and Group II-2 Senior Percentage, Group I-1, Group I-2, Group II-1 and Group II-2 Senior Prepayment Percentage, Group I-1, Group I-2, Group II-1 and Group II-2 Subordinate Percentage and Group I-1, Group I-2, Group II-1 and Group II-2 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062008, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information information, upon request, with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-4)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities AdministratorTrustee’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class or Component of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class or Component of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class or Component during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class or Component of Certificates;
(v) the amount of the distribution allocable to interest on each Class or Component of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class or Component of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date or the Subsequent Cut-off Date, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date or the Subsequent Cut-off Date, as the case may be, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate or the related;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information in each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class or Component of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date; and
(xx) the amount withdrawn from the Class A Reserve Fund (with respect to the initial Distribution Date only), the Pre-Funding Account, the Pre-Funding Reserve Account and the Interest Coverage Account 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 information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may Trustee will make available each month, to any interested party, month the monthly statement to Certificateholders via the Securities AdministratorTrustee’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, Trustee will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee determines may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar3)
Statements to Certificateholders. (a) On The Master Servicer shall prepare and deliver to the Trustee at least two Business Days prior to each Distribution Date, and concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of each Class of Notional Amount Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050 and expressed with respect to clauses (viii) through (xv) and (xvii) with respect to Loan Group 1, Loan Group 2 and Loan Group 3 separately:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall Shortfall, Deferred Interest and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer related Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xiixi) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiiixii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xvii) the Average Loss Severity for the prior calendar month;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that any Diverted Amount for such Distribution Date;; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior PercentagePercentages, Senior Prepayment PercentagePercentages, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.Subordinate
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with the Trustee shall forward or cause to be forwarded by mail to each distribution Holder of a Certificate and to Certificateholdersthe Seller, the Securities Administrator shall make available to Servicer and the parties hereto and each Certificateholder via Rating Agencies, a statement based on information provided by the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately Servicer two Business Days prior to such Distribution DateDate in a mutually agreeable format setting forth:
(a) the amount of such distribution to the Certificateholders of each Class applied to reduce the Certificate Principal Balance thereof, and (b) the aggregate amount included therein representing Principal Prepayments;
(ii) the amount of the such distribution to Holders of each Class of Certificates allocable to principal on each applicable Class of Certificatesinterest;
(iii) if the aggregate distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodshortfall;
(iv) the Net Interest Shortfall aggregate amount of Monthly Advances included in such distribution as of the close of business on such Distribution Date and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatesoutstanding thereafter;
(v) the amount number and aggregate Stated Principal Balance of the distribution allocable to interest Mortgage Loans at the close of business on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for aggregate Certificate Principal Balance of each Class of Certificates with respect Certificates, and each of the Senior Percentages and Class B Percentages, after giving effect to the amounts distributed on such Distribution Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal;
(vii) the Current related Subordinate Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution DateAmount;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Stated Principal Balance of Mortgage Loans (a) delinquent 30 31 to 59 days on a contractual basis60 days, (b) delinquent 60 61 to 89 days on a contractual basis90 days, and (c) delinquent 90 91 days or more days more;
(ix) the number, aggregate principal balance and book value of any REO Properties;
(x) the aggregate Accrued Certificate Interest remaining unpaid, if any, for each Class of Certificates, after giving effect to the distribution made on a contractual basissuch Distribution Date;
(xi) the Special Hazard Amount, in each case Fraud Loss Amount and Bankruptcy Amount as of the close of business on such Distribution Date and a description of any change in the last Business Day calculation of such amounts;
(xii) the weighted average Pool Strip Rate for such Distribution Date and the Pass-Through Rate on the Class X Certificates;
(xiii) the occurrence of the immediately preceding monthCredit Support Depletion Date;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of Senior Accelerated Distribution Percentage applicable to such Mortgage Loansdistribution;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;Senior Percentage for such Distribution Date; and
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the aggregate amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as In the case may beof information furnished pursuant to subclauses (i)-(iii) above, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Serviceramounts shall also be expressed as a dollar amount per Certificate of any Class evidencing an Initial Certificate Principal Balance of $1,000. The Securities Administrator may conclusively rely on Trustee shall make such statement (and, at its option, any additional files containing the same information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make in an alternative format) available each month, to any interested party, the monthly statement month to Certificateholders and other parties hereto via the Securities Administrator’s Trustee's internet website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇and its fax-▇▇▇▇on demand service. Parties that are unable to use the above distribution option are options shall be entitled to have a paper copy mailed to them upon request via first class mail by calling the Securities Administrator’s Trustee's customer service desk and indicating suchdesk. The Securities Administrator Trustee shall have the right to change the way such reports Distribution Date statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such change.
(b) changes. Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willTrustee shall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Senior or Subordinate Certificate, a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and - (a)(viii) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such person was a Certificateholder. Such obligations obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Servicer pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and forward, to each Holder of a Residual Certificate a copy of the reports forwarded to the other Certificateholders on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, upon request, to each Person who at any time during the calendar year was a Holder of a Residual Certificate a statement containing the information provided pursuant to the previous paragraph 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 Servicer pursuant to any requirements of the CodeCode as from time to time are in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Gmac Mortgage Loan Trust 1999-J2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently a)Concurrently with each -------------------------------- distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller, the Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or or, in the case of the Residual Class X Certificates, a Notional Amount of $1,000, or, in the case of the Class R-1 Certificate, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or (or Notional Amount in the case of the Class X Certificates) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Pass- Through Rate with respect to each Class of Certificates (other than the Class PO Certificates) during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates (other than the Class PO Certificates);
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date(other than the Class PO Certificates);
(vi) the Pass-Through Rates for each the Class of A, Class X and Class R-1 Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each applicable Class of Certificates after such Distribution DateDate and the Class PO Deferred Amount;
(viii) the amount of any Monthly Advances, Advances and Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Mortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of with respect to each Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateLoan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) in each Mortgage Loan Group remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information for each Mortgage Loan Group regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) for each Mortgage Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) for each Mortgage Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was were REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Mortgage Loan Group; provided that, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and to the extent of, information on data provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported Servicer pursuant to subclauses (a)(iiSubsection 6.05(a) and (a)(v) above and, with respect to prior periods, Section 6.06, upon which the Certificates, plus Trustee may conclusively rely. The information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required furnished by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations Master Servicer shall be deemed sufficient for the Trustee to have been satisfied calculate any statements it is required to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codemake.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Icifc Secured Assets Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto hereto, the Counterparty and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall Shortfall, Net Deferred Interest and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Group Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer, the Servicer and the Counterparty. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 2006, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Class R-I, Class R-II and Class R-III Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates; and
(xviii) the Average Loss Severity for the prior calendar month for each Loan Group;
(xviiixix) the then applicable Group I-1, Group I-2, Group I-3, Group I-4, Group II-1 and Group II-2 Senior Percentage, Group I-1, Group I-2, Group I-3, Group I-4, Group II-1 and Group II-2 Senior Prepayment Percentage, the Group I-1, Group I-2, Group I-3 and Group I-4 Senior Mezzanine and Subordinate Prepayment Percentage, the Group II-1 and Group II-2 Subordinate Prepayment Percentage, the Group I-1, Group I-2, Group I-3 and Group I-4 Senior Mezzanine and Subordinate Percentage, and the Group II-1 and Group II Subordinate Percentage;
(xx) any Diverted Amount for such Distribution Date; and
(xxi) the amount withdrawn from the Class A/B Reserve Fund (with respect Pre-Funding Account and the Interest Coverage Account and used to the first three distribution dates only), make payments to Certificateholders on that Distribution Date;
(xix) , the Average Loss Severity Percentage; and
(xx) amount remaining on deposit following such Distribution Date, and the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for amount withdrawn from the Pre-Funding Account used to buy Subsequent Mortgage Loans prior to such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.-85-
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-11)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with the Trustee shall forward or cause to be forwarded by mail to each distribution Holder of a Certificate and to Certificateholdersthe Seller, the Securities Administrator shall make available to Servicer and the parties hereto and each Certificateholder via Rating Agencies, a statement based on information provided by the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately Servicer two Business Days prior to such Distribution DateDate in a mutually agreeable format setting forth:
(a) the amount of such distribution to the Certificateholders of each Class applied to reduce the Certificate Principal Balance thereof, and (b) the aggregate amount included therein representing Principal Prepayments;
(ii) the amount of the such distribution to Holders of each Class of Certificates allocable to principal on each applicable Class of Certificatesinterest;
(iii) if the aggregate distribution to the Holders of any Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodshortfall;
(iv) the Net Interest Shortfall aggregate amount of Monthly Advances included in such distribution as of the close of business on such Distribution Date and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatesoutstanding thereafter;
(v) the amount number and aggregate Stated Principal Balance of the distribution allocable to interest Mortgage Loans at the close of business on each Class of Certificates for such Distribution Date;
(vi) the Pass-Through Rates for aggregate Certificate Principal Balance of each Class of Certificates with respect Certificates, and each of the Senior Percentages and Class B Percentages, after giving effect to the amounts distributed on such Distribution Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal;
(vii) the Current related Subordinate Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution DateAmount;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Stated Principal Balance of Mortgage Loans (a) delinquent 30 31 to 59 days on a contractual basis60 days, (b) delinquent 60 61 to 89 days on a contractual basis90 days, and (c) delinquent 90 91 days or more days more;
(ix) the number, aggregate principal balance and book value of any REO Properties;
(x) the aggregate Accrued Certificate Interest remaining unpaid, if any, for each Class of Certificates, after giving effect to the distribution made on a contractual basissuch Distribution Date;
(xi) the Special Hazard Amount, in each case Fraud Loss Amount and Bankruptcy Amount as of the close of business on such Distribution Date and a description of any change in the last Business Day calculation of such amounts;
(xii) the weighted average Pool Strip Rate for such Distribution Date and the Pass-Through Rate on the Class X Certificates;
(xiii) the occurrence of the immediately preceding monthCredit Support Depletion Date;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of Senior Accelerated Distribution Percentage applicable to such Mortgage Loansdistribution;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;Senior Percentage for such Distribution Date; and
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the aggregate amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. In the case of information furnished pursuant to subclauses (i)-(iii) above, the amounts shall also be expressed as a dollar amount per Certificate of any Class evidencing an Initial Certificate Principal Balance of $1,000. The Trustee shall make such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and other parties hereto via the Trustee's internet website and its fax-on demand service. Parties that are unable to use the above distribution options shall be entitled to have a paper copy mailed to them upon request via first class mail by calling the Trustee's customer service desk. The Trustee shall have the right to change the way Distribution Date statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties, and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, upon request, to each Person who at any time during the calendar year was a Holder of a Senior or Subordinate Certificate, a statement containing the information set forth above in subclauses (i) (iii) above, aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder. Such obligation of the Trustee shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and deemed to have been satisfied to the extent ofthat substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and forward, to each Holder of a Residual Certificate a copy of the reports forwarded to the other Certificateholders on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, upon request, to each Person who at any time during the calendar year was a Holder of a Residual Certificate a statement containing the information provided pursuant to the Securities Administrator previous paragraph 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 Master ServicerServicer pursuant to any requirements of the Code as from time to time are in force. The Securities Administrator may conclusively rely on such Trustee will make the Distribution Date statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and shall not be required other parties to confirm, verify or recalculate any such informationthis Agreement via the Trustee's internet website and its fax-on-demand servicer. The Securities Administrator Trustee's fax-on-demand service may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Trustee's internet website shall initially be located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website or the fax-on-demand service can be obtained by calling the Securities Administrator’s Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option options are entitled to have a paper copy mailed to them via first class call mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports Distribution Date statements are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changechanges.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Gmac Mortgage Loan Trust 1999-J1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto hereto, MBIA and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2 and Group 3 Senior Percentage, Group 1, Group 2 and Group 3 Senior Prepayment Percentage, Group 1, Group 2 and Group 3, Subordinate Percentage and Group 1, Group 2 and Group 3 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Mort Pass THR Cert Ser 2002-4)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount Amount, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;Certificates; 105
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses on the Mortgage Loans (listed separately for each category of Realized LossLoss and for each Loan Group) and Subsequent Recoveries on the Mortgage Loans during the related Prepayment Period and cumulatively since the Cut-off Date with respect to the Initial Mortgage Loans, and the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Initial Mortgage Loan as of the Cut-off Date or such Subsequent Mortgage Loan as of the related Subsequent Cut-off Date, as the case may be, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate with respect to the Initial Mortgage Loans, and the related Subsequent Cut-off Date with respect to the Subsequent Mortgage Loans, as the case may be;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the related Mortgage Loan, Loan and (B) accrued interest through the date of foreclosure and foreclosure, minus (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses on the Mortgage Loans allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity then applicable Group I Senior Percentage, Group II Senior Percentage and Group III Senior Percentage, Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage and Group III Senior Prepayment Percentage, Group I Senior Mezzanine and Subordinate Percentage, Group II Senior Mezzanine and Subordinate Percentage and Group III Senior Mezzanine and Subordinate Percentage, and Group I Senior Mezzanine and Subordinate Prepayment Percentage, Group II Senior Mezzanine and Subordinate Prepayment Percentage and Group III Senior Mezzanine and Subordinate Prepayment Percentage; and
(xx) the Senior Percentageamount withdrawn from the Group I Pre-Funding Account and from the Group I Interest Coverage Account, Senior Prepayment Percentagerespectively, Subordinate Percentage and Subordinate Prepayment Percentageused to make payments to Class A-1A Certificateholders and Class A-1B Certificate holders on that Distribution Date, the amount remaining on deposit in each casethe Group I Pre-Funding Account and in the Group I Interest Coverage Account, respectively, following such Distribution Date, and the amount withdrawn from the Group I Pre-Funding Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date; and
(xxi) the amount of any Subsequent Recovery on the Mortgage Loans for such Distribution Date, and the amount by which the Current Principal Amount of the Senior Mezzanine Certificates and each Class of Subordinate Certificates was increased as a result thereof. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar6)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate 101 necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group and Loan Subgroup;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group and Loan Subgroup) and Subsequent Recoveries during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group and Loan Subgroup, the amount of Scheduled Principal and Principal Prepayments, Prepayments (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group and Loan Subgroup remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and Loan Subgroup regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day day of the immediately preceding month;
(xiv) for each Loan Group and Loan Subgroup, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group and Loan Subgroup, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the related Mortgage Loan, Loan and (B) accrued interest through the date of foreclosure and foreclosure, minus (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group and Loan Subgroup; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group and Loan Subgroup;
(xix) for each related Loan Subgroup, the Average Loss Severity then applicable Group I Senior Percentage and Group II Senior Percentage; and, Group I Senior Prepayment Percentage and Group II Senior Prepayment Percentage, Group I Senior Mezzanine and Group I Subordinate Percentage and Group II Subordinate Percentage and Group I Senior Mezzanine and Group I Subordinate Prepayment Percentage and Group II Subordinate Prepayment Percentage;
(xx) the Senior Percentageaggregate amount of Deferred Interest added to the Scheduled Principal Balance of any Loan Subgroup II-1, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, II-2 or II-3 Mortgage Loan; and
(xxi) the amount of any Subsequent Recovery for such Distribution Date, and the amount by which the Current Principal Amount of each Class of related Subordinate Certificates was increased as a result thereof. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s Trustee's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and Date, the amount and source (separately identified) of any distribution in respect thereof included in such distribution, and, separately stated with respect to each Mortgage Loan for which a Realized Loss occurred, the amount of the proceeds, if any, from the Supplemental PMI Policy used in calculating the amount of the Realized Loss;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (iiiii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iiiiv) the Net Liquidation Proceeds with respect to such Mortgage Loan Loan, (v) the amount, if any, included in Net Liquidation Proceeds representing a payment under the Supplemental PMI Policy and (ivvi) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average Loss Severity then applicable Group 1 and Group 2 Senior Percentage; and, Group 1 and Group 2 Senior Prepayment Percentage, Group 1 and Group 2 Senior Mezzanine and Subordinate Percentage and Group 1 and Group 2 Senior Mezzanine and Subordinate Prepayment Percentage;
(xx) the Senior PercentageStop-Loss Amount as of the Cut-off Date, Senior the Stop-Loss Amount as of the end of the related Prepayment PercentagePeriod and reduction in the Stop-Loss Amount during the related Prepayment Period; and
(xxi) with respect to the related Prepayment Period, Subordinate Percentage (i) the number of Mortgage Loans for which a payment was made by the Supplemental PMI Insurer under the Supplemental PMI Policy and Subordinate Prepayment Percentagethe aggregate amount of any such payments, in each case(ii) the number of Mortgage Loans for which a claim has been presented to the Supplemental PMI Insurer under the Supplemental PMI Policy and the aggregate amount of any such outstanding claims, and (iii) the number of Mortgage Loans for which a claim was presented to the Supplemental PMI Insurer under the Supplemental PMI Policy which claim was denied by the Supplemental PMI Insurer and the aggregate amount of any such Distribution Datedenied claims. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto hereto, the Counterparty and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall Shortfall, Net Deferred Interest and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Group Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer, the Servicer and the Counterparty. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 2006, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Determination Date, the Master Servicer shall forward to the Trustee and the Paying Agent for mailing to each Certificateholder, and concurrently with each distribution to Certificateholders, Certificateholders the Securities Administrator Trustee shall make available mail to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed them a statement with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100their distribution setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of the distributions to Holders of each Class of Class A and Class M Certificates immediately prior to for such Distribution Date, separately stating the portions thereof allocable to interest and allocable to principal;
(ii) the amount of any Interest Carry Forward Amount for each Class paid on such Distribution Date and the distribution allocable amount of any Interest Carry Forward Amount for each Class remaining after giving effect to principal the distributions on each applicable Class of Certificatessuch Distribution Date;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates Extra Principal Distribution Amount for such Distribution Date;
(iv) the Principal Distribution Amount for such Distribution Date, separately stating the components thereof;
(v) the number and aggregate Principal Balance of any Home Equity Loans purchased by the Depositor or the Master Servicer with respect to the related Collection Period pursuant to [Section 2.02, 2.04, 3.01 and 3.07];
(vi) the Pass-Through Rates amount of any Substitution Adjustment Amounts for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount Servicing Fee for such Collection Period and any accrued amounts thereof that remain unpaid for previous Collection Periods;
(viii) the Realized Losses for such Collection Period and the amount of each such losses, if any, constituting Applied Realized Loss Amounts;
(ix) the amount, if any, to be distributed to the Class of Certificates after R Certificateholders on such Distribution Date;
(viiix) The Overcollateralization Amount, Overcollateralization Deficiency, the amount of any Monthly AdvancesOvercollateralization Release Amount, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date Targeted Overcollateralization Amount and the amount and source (separately identified) of any distribution in respect thereof included in Monthly Excess Cashflow for such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Distribution Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) The number of Home Equity Loans outstanding at the amount beginning and end of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Datesuch Collection Period;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund The Pool Balance as of the end of the related Prepayment such Collection Period;
(xiii) information regarding any Mortgage Loan delinquencies as the Certificate Principal Balance of each Class of Certificates and the end of Pool Factor after giving effect to the related Prepayment Period, including distribution on such Distribution Date;
(xiv) the aggregate number and aggregate Outstanding Principal Balance Balances of Mortgage Home Equity Loans (ax) as to which the scheduled monthly payment is delinquent 30 to for 30-59 days on a contractual basisdays, (b) delinquent 60 to 60-89 days on a contractual basisand 90 or more days, respectively, and (cy) delinquent 90 or more days on a contractual basisthat have become REO, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage LoansCollection Period;
(xv) the number and aggregate Outstanding Principal Balance The unpaid principal amount of all Mortgage Home Equity Loans as to which the Mortgaged Property was REO Property as of the end of the related that became Liquidated Home Equity Loans during such Due Period;
(xvi) the The book value (within the sum meaning of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses12 C.F.R. ss. 571.13 or comparable provision) of any REO Property; provided that, real estate acquired through foreclosure or grant of a deed in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes availablelieu of foreclosure;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution DatesWhether a Trigger Event has occurred or is continuing;
(xviii) Such other information as is required by the amount withdrawn from Code and regulations thereunder to be made available to Holders of the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;Regular Certificates; and
(xix) whether an Event of Default has occurred since the Average Loss Severity Percentage; and
(xx) the Senior Percentageprior Determination Date, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in specifying each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.Event of Default if one has occurred;
(b) Within a reasonable period In the case of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported information furnished pursuant to subclauses clauses (a)(iii) and (a)(vii) above with respect to above, the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations amounts shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Codeexpressed as a dollar amount per Class A Certificate or Class M Certificate, as applicable, with a $1,000 denomination.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HFC Revolving Corp)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available Prior to the parties hereto Distribution Date in each month, based upon the information provided to the Trustee on the Servicer's Certificates delivered to the Trustee pursuant to Section 4.01 and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses subsections (ixx) through and (viixxi) in below, after consultation with the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000Depositor, or in the case of Trustee shall determine the Residual Certificates, an initial Current Principal Amount of $100following information with respect to such Distribution Date:
(i) the Current Principal Amount and/or Notional Amount date of each Class of Certificates immediately prior to such Distribution Date and the Determination Date for such Distribution Date;
(ii) for each Class, the amount of the distribution allocable to principal on each applicable Class of CertificatesRecord Date and Interest Accrual Period;
(iii) the amount allocable to principal, separately identifying the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodany Principal Prepayments and Liquidation Proceeds included therein;
(iv) the Net amount allocable to interest, the Class A-3 Accrual Distribution Amount, the Class A-4 Accrual Distribution Amount, any Class Unpaid Interest Shortfall included in such distribution and any other adjustments remaining Class Unpaid Interest Shortfall after giving effect to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatessuch distribution;
(v) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the distribution allocable to interest on shortfall and the allocation thereof as between principal and interest;
(vi) the Class Certificate Balance of each Class of Certificates prior to and after giving effect to the distribution of principal on such Distribution Date;
(vii) the Pool Stated Principal Balance for such Distribution Date;
(viviii) the Senior Percentage and the Subordinate Percentage for such Distribution Date;
(ix) the amount of the Servicing Fee paid to or retained by the Servicer with respect to such Distribution Date;
(x) the Pass-Through Rates Rate for each such Class of Certificates with respect to such Distribution Date;
(viixi) the Current amount of Periodic Advances included in the distribution on such Distribution Date, the aggregate amount of Periodic Advances outstanding as of the close of business on such Distribution Date and the amount of Periodic Advances reimbursed since the previous Distribution Date;
(xii) the number and aggregate Stated Principal Amount and/or Notional Amount Balance of the Mortgage Loans, the ranges of Mortgage Interest Rates for the Mortgage Loans, separated by 0.25%, the weighted average remaining term to maturity of the Mortgage Loans and the cumulative amount of Principal Prepayments, each Class as of Certificates after the close of business on the last day of the calendar month preceding such Distribution Date;
(viiixiii) the amount number and aggregate principal amounts of any Monthly AdvancesMortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or in bankruptcy) in 30-day increments until foreclosure or other disposition, Compensating Interest Payments (B) in foreclosure, as of the close of business on the last day of the calendar month preceding such Distribution Date and outstanding unreimbursed advances by (C) in bankruptcy as of the Master Servicer or close of business on the Servicer included in last day of the calendar month preceding such distributionDistribution Date;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(xxiv) with respect to each any Mortgage Loan which incurred a Realized Loss that became an REO Property during the related Prepayment Periodpreceding calendar month, (i) the loan number, (ii) the Scheduled number and Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) close of business on the Scheduled Principal Balance Determination Date preceding such Distribution Date and the date of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loanacquisition thereof;
(xixv) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the total number and principal balance of Mortgage Loans purchased or substituted any REO Properties (and market value, if available) as of the close of business on the Determination Date preceding such Distribution Date;
(xvi) the Senior Prepayment Percentage and the Subordinate Prepayment Percentage for such Distribution Date;
(xvii) the aggregate amount of Realized Losses incurred during the relevant period preceding calendar month, any PO Deferred Amounts for such Distribution Date;
(xviii) the Class A-7 Notional Amount and the Class 30-IO Notional Amount;
(xix) any expenses or indemnification amounts paid by the Trust, the specific purpose of each payment and the parties to whom such payments were made;
(xx) the amount of total Recoveries, the PO Recovery and the Non-PO Recovery;
(xxi) any material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments since the previous Distribution Date and cumulatively since the Cut-off Date;
(xiixxii) unless such information is set forth in the number Form 10-D relating to such Distribution Date and provided the Trustee is reasonably able to include such information on the statement, any material breaches of representations and warranties relating to the Mortgage Loans (excluding REO Property) remaining in the Trust Fund as and any material breach of the end of the related Prepayment Period;covenants hereunder; and
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxxiii) the number and aggregate Outstanding Principal Balance principal balance of all any Mortgage Loans as to which repurchased by the Mortgaged Property was REO Property as of Depositor from the end of Trust since the related Due Period;previous Distribution Date.
(xvib) the book value (the sum of (A) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the No later than each Distribution Date, such the Trustee, based upon information supplied to it on the Servicer's Certificate, shall make available to each Holder of a Certificate, each Rating Agency and the Servicer a statement setting forth the information set forth in Section 5.04(a). In the case of information furnished pursuant to clauses (iii) and (iv) of Section 5.04(a), the amounts shall be furnished promptly after it becomes available;
(xvii) expressed as a dollar amount per Certificate with a $1,000 denomination. On each Distribution Date, the amount of Net Deferred Interest Trustee shall prepare and Realized Losses allocated furnish to each Class of Certificates since Financial Market Service, in electronic or such other format and media mutually agreed upon by the prior Distribution Date Trustee, the Financial Market Service and the Depositor, the information contained in the aggregate for all prior Distribution Dates;
(xviiistatement described in Section 5.04(a) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may Trustee will make available each month, to any interested party, the monthly statement to Certificateholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and other parties to this Agreement via the Securities Administrator’s website Trustee's Internet website, initially located at “w▇▇."www.ctslink.com". The Trustee will also make available copies of the ▇▇▇▇▇▇▇.▇ ▇▇▇.” ▇▇▇s the Trustee files with the Securities and Exchange Commission, including distribution reports on Form 10-D, annual reports on Form 10-K, current reports on Form 8-K and amendments to these reports available through this website promptly (but no later than one Business Day) after they are filed with the Securities and Exchange Commission. Assistance in using the this website can be obtained by calling the Securities Administrator’s Trustee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports the monthly statements to Certificateholders are distributed in order to make such distribution more convenient and/or more accessible to the parties, above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such change.
(b) changes. Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, Trustee shall furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was the aggregate Holder of amounts reported pursuant to subclauses a Certificate, if requested in writing by such Person, a statement containing the information set forth in clauses (a)(iiiii), (iv) and (a)(vix) above with respect to the Certificatesof Section 5.04(a), plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns in each case aggregated for such calendar yearyear or applicable portion thereof during which such Person was a Certificateholder. Such obligations obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code as from time to time in force. The Trustee shall deliver to the Holders of Certificates any reports or information the Trustee is required by this Agreement or the Code, Treasury Regulations or REMIC Provisions to deliver to the Holders of Certificates, and the Trustee shall prepare and provide to the Certificateholders (by mail, telephone, or publication as may be permitted by applicable Treasury Regulations) such other reasonable information as the Trustee deems necessary or appropriate or is required by the Code, Treasury Regulations, and the REMIC Provisions including, but not limited to, (i) information to be reported to the Holder of the Residual Certificate for quarterly notices on Schedule Q (Form 1066) (which information shall be forwarded to the Holder of the Residual Certificate by the Trustee), (ii) information to be provided to the Holders of Certificates with respect to amounts which should be included as interest and original issue discount in such Holders' gross income and (iii) information to be provided to all Holders of Certificates setting forth the percentage of each REMIC's assets, determined in accordance with Treasury Regulations using a convention, not inconsistent with Treasury Regulations, selected by the Trustee in its absolute discretion, that constitute real estate assets under Section 856 of the Code, and assets described in Section 7701(a)(19)(C) of the Code; provided, however, that in setting forth the percentage of such assets of each REMIC, nothing contained in this Agreement, including without limitation Section 7.03 hereof, shall be interpreted to require the Trustee periodically to appraise the fair market values of the assets of the Trust Estate or to indemnify the Trust Estate or any Certificateholders from any adverse federal, state or local tax consequences associated with a change subsequently required to be made in the Depositor's initial good faith determinations of such fair market values (if subsequent determinations are required pursuant to the requirements of the CodeREMIC Provisions) made from time to time.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Mortgage 2006-1 Trust)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) any Carryover Shortfall, any Carryover Shortfall Amounts, the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month;
(xix) the Average Loss Severity then applicable Senior Percentage, Senior Prepayment Percentage, Senior Mezzanine and Subordinate Percentage and Senior Mezzanine and Subordinate Prepayment Percentage; and
(xx) the Senior Percentageamount withdrawn from the Pre-Funding Account and the Interest Coverage Account and used to make payments to Certificateholders on that Distribution Date, Senior Prepayment Percentagethe amount remaining on deposit following such Distribution Date, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for the amount withdrawn from the Pre-Funding Account used to buy Subsequent Mortgage Loans prior to such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert 2002-Ar3)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage;
(xix) the Average Loss Severity Percentageamount of Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Extraordinary Losses on such Distribution Date and in the aggregate for all prior Distribution Dates; and
(xx) the then applicable Subgroup Senior Percentage, Subgroup Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in Percentage for each case, for such Distribution DateSubgroup. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in ▇ using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. P▇▇▇▇. Parties that are ▇▇ ▇▇▇▇ ▇▇e unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee's internet website. The Trustee's internet website will initially be located at "https://trustinve▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇". ▇▇▇▇▇▇▇▇▇▇ ▇▇ using the Trustee's website service can be obtained by calling the Trustee's customer service desk at (800) 934-6802.
(b▇) Within a reasonable period ▇y April 30 of time after the end of the preceding calendar each year beginning in 20062005, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine and advises the Trustee to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder and the Mandatory Call Provider via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan Loan, (iv) the amount, if any, included in Net Liquidation Proceeds representing a payment under the Supplemental PMI Policy and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average Loss Severity then applicable Group 1, Class 2, Class 3, Group 4, Group 5 and Group 6 Senior Percentage; and, Group 1, Class 2, Class 3, Group 4, Group 5 and Group 6 Senior Prepayment Percentage, Group 1, Class 2, Class 3, Group 4, Group 5 and Group 6 Subordinate Percentage and Group 1, Class 2, Class 3, Group 4, Group 5 and Group 6 Subordinate Prepayment Percentage;
(xx) the Senior PercentageStop-Loss Amount as of the Cut-off Date, Senior the Stop-Loss Amount as of the end of the related Prepayment PercentagePeriod and reduction in the Stop-Loss Amount during the related Prepayment Period; and
(xxi) with respect to the related Prepayment Period, Subordinate Percentage (i) the number of Mortgage Loans for which a payment was made by the Supplemental PMI Insurer under the Supplemental PMI Policy and Subordinate Prepayment Percentagethe aggregate amount of any such payments, in each case(ii) the number of Mortgage Loans for which a claim has been presented to the Supplemental PMI Insurer under the Supplemental PMI Policy and the aggregate amount of any such outstanding claims, and (iii) the number of Mortgage Loans for which a claim was presented to the Supplemental PMI Insurer under the Supplemental PMI Policy which claim was denied by the Supplemental PMI Insurer and the aggregate amount of any such Distribution Datedenied claims. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty (including, without limitation, the Mandatory Call Provider), the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." As▇▇▇▇▇▇▇.▇ ▇▇ ▇▇▇.” Assistance in using ng the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Part▇▇▇ ▇▇▇) ▇ ▇▇▇ ▇-▇▇▇▇. Parties that are unable nable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2, Group 3 and Group 4 Senior Percentage, Group 1, Group 2, Group 3 and Group 4 Senior Prepayment Percentage, Group 1, Group 2, Group 3 and Group 4 Subordinate Percentage and Group 1, Group 2, Group 3 and Group 4 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On or prior to the Business Day preceding each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator Master Servicer shall make available forward to the parties hereto and Trustee for mailing by regular mail to each Certificateholder via the Securities Administrator’s internet website as set forth belowHolder of a Certificate, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100statement setting forth:
(i) the Current Principal Amount and/or Notional Amount amount of each such distribution to holders of the Class of A Certificates immediately prior allocable to such Distribution Dateprincipal;
(ii) the amount of such distribution to holders of the distribution Class A Certificates allocable to principal on each applicable interest, any Class A Unpaid Interest Shortfall due in respect of Certificatesprior Distribution Dates included in such distribution and any such remaining Class A Unpaid Interest Shortfall after giving effect to such distribution;
(iii) the aggregate amount Class A Certificate Balance and the Class A Principal Factor, each after giving effect to the distribution of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Periodprincipal on such Distribution Date;
(iv) the Net Interest Shortfall amount of such distribution to holders of the Class M and any other adjustments Class B Certificates allocable to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificatesprincipal;
(v) the amount of such distribution to holders of the distribution Class M and Class B Certificates allocable to interest on each interest, any Class M or Class B Unpaid Interest Shortfall due in respect of Certificates for prior Distribution Dates included in such Distribution Datedistribution and any such remaining Class M or Class B Unpaid Interest Shortfall after giving effect to such distribution;
(vi) the Pass-Through Rates for Class M and Class B Certificate Balances and the Principal Factors in respect of the Class M and Class B Certificates, each Class after giving effect to the distribution of Certificates with respect to principal on such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount Pool Balance for the following Distribution Date and the number of each Class of Certificates after such outstanding Home Equity Loans for the following Distribution Date;
(viii) the amount number and aggregate Trust Balances of any Monthly AdvancesHome Equity Loans as to which no payment of interest or principal has been received for a period of at least (a) one billing cycle and (b) two or more billing cycles, Compensating Interest Payments and outstanding unreimbursed advances by respectively, as of the Master Servicer or end of the Servicer included month in such distributionwhich the related Collection Period ends;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during Liquidated Home Equity Loan Losses, the related Prepayment Period and cumulatively since applicable Applied Liquidated Loan Loss Amount, the Cut-off Date applicable Liquidated Loan Loss Amortization Amounts and the amount and source (separately identified) of any distribution in respect thereof included in Unpaid Liquidated Loan Loss Amounts for such distributionDistribution Date, including cumulative losses up to such date;
(x) with respect to each Mortgage Loan which incurred the book value (within the meaning of 12 C.F.R. ss.571.13 or any comparable provision) of the Trust Percentage of any real estate, and the number of Mortgaged Properties, acquired through foreclosure or grant of a Realized Loss during deed in lieu of foreclosure and held by the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan Trust Fund as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning last day of the related Due Collection Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Datewhether a Trigger Event has occurred;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment PeriodSenior Enhancement Percentage;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of Overcollateralization Amount and the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthTargeted Overcollateralization Amount;
(xiv) the number of Mortgage Loans in Class A Pass-Through Rate, the foreclosure process as of the end of the related Due Period Class M Pass-Through Rate and the aggregate Outstanding Principal Balance of such Mortgage LoansClass B Pass-Through Rate applicable to the distribution on the following Distribution Date;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which Distribution Amount, separately stating the Mortgaged Property was REO Property as of the end of the related Due PeriodExtra Principal Distribution Amount, if any, for such Distribution Date;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of Overcollateralization Amount for such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Overcollateralization Release Amount for such Distribution Date and in the aggregate for all prior Distribution DatesDate;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Monthly Excess Cashflow Amount for such Distribution Date;; and
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Enhancement Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The In the case of information set forth above furnished pursuant to clauses (i) and (ii) above, the amounts shall be calculated or reportedexpressed as a dollar amount per Class A, Class M and Class B Certificate, as the case may beapplicable, by the Securities Administratorwith a $1,000 denomination. Any such statement furnished to a Class A, based solely onClass M or Class B Certificateholder may, and to the extent of, information provided to the Securities Administrator if requested by the Master Servicer, omit information pertinent only to Certificates of a Class not held by such Certificateholder. On each Distribution Date, the Master Servicer shall forward to the Trustee for mailing to each Holder of a Class R Certificate a copy of the statement or statements forwarded to the Holders of Certificates on such Distribution Date. The Securities Administrator may conclusively rely on such information and Master Servicer shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible also forward to the partiesTrustee for mailing to each such Holder, and each of the Securities Administrator shall provide timely and adequate notification Rating Agencies a statement setting forth the amount of the distribution to all parties regarding any each such change.
(b) Holder, together with such other information as the Master Servicer deems necessary or appropriate. Within a reasonable period of time 90 days after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator will, upon request, furnish a report Master Servicer shall forward to the Trustee for mailing by regular mail to each Holder of the Certificates of record Person who at any time during the prior such calendar year as to was a Certificateholder a statement containing the aggregate of amounts reported applicable distribution information provided pursuant to subclauses clauses (a)(iii) and (a)(vii) above with respect to the Certificatesof this Section 5.02, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such Person was a Certificateholder. Such obligations obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Master Servicer pursuant to the any requirements of the Code. The Trustee shall have no obligation to mail to Certificateholders any statement required to be so mailed hereunder if the Master Servicer has not provided such statement to the Trustee.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Beneficial Mortgage Services Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available forward by first-class mail to each Certificateholder, with a copy to the parties hereto Seller and each Certificateholder via the Securities Administrator’s internet website as set Rating Agencies, a statement setting forth below, the following information, expressed with respect to clauses (i) through (viivi) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, 1,000 or in the case of the Residual Certificates, an initial Current Principal Amount of $10050 for Class R-1 and $25 for each of Class R-2 and Class R-3:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer Servicers or the Servicer BSMCC included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xiixi) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Due Period;
(xiiixii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basisone month, (b) delinquent 60 to 89 days on a contractual basis, two months and (c) delinquent 90 three months or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding monthmore;
(xivxiii) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xvxiv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, on information provided to the Securities Administrator Trustee by the Master ServicerServicers. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall will make available to each Stack II Certificateholder and any other interested party a statement (the parties hereto "Monthly Statement"), based solely on information provided by the Master Servicer and each Certificateholder via the Securities Administrator’s internet website as set Servicers generally setting forth below, the following information, expressed among other information with respect to clauses the Stack II Certificates and Stack II Mortgage Loans:
(i1) through the amount of the related distribution to holders of each class of certificates allocable to principal, separately identifying (viiA) the aggregate amount of any principal prepayments included therein, (B) the aggregate amount of all scheduled payments of principal included therein and (C) any Stack II Extra Principal Distribution Amount, in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in with respect to the case of the Residual Certificates, an initial Current Principal Amount of $100:Group 2 Mortgage Loans and Group 3 Mortgage Loans;
(i2) the Current Principal Amount and/or Notional Amount amount of such distribution to holders of each class of Stack II Certificates allocable to interest;
(3) the Interest Carry Forward Amount for each class of Stack II Certificates;
(4) the Class Certificate Balance of each class of Stack II Certificates immediately prior after giving effect to the distribution of principal on such Distribution Date;
(ii5) the aggregate outstanding principal balance of each class of Stack II Certificates for the following Distribution Date;
(6) the amount of the distribution allocable Servicing Fee paid to principal on each applicable Class or retained by the Servicers and any amounts constituting reimbursement or indemnification of Certificatesthe Servicers, the Master Servicer, the Trustee or the Securities Administrator;
(iii7) the aggregate amount Certificate Rate for each class of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Stack II Certificates for such Distribution Date;
(vi8) the amount of Monthly Advances on Stack II Mortgage Loans included in the distribution on such Distribution Date;
(9) the Pass-Through Rates for each Class cumulative amount of Certificates (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group 2 Mortgage Loans and the Group 3 Mortgage Loans;
(10) 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 2 Mortgage Loans and the Group 3 Mortgage Loans;
(vii11) the Current Principal Amount and/or Notional Amount number and aggregate principal amounts of each Class of Certificates after such Distribution Date;
Stack II Mortgage Loans (viiiA) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
delinquent (ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions exclusive of Mortgage Loans and Net Liquidation Proceedsin foreclosure) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii1) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 31 to 59 days on a contractual basis60 days, (b2) 61 to 90 days and (3) 91 or more days, (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 89 90 days on a contractual basisand (3) 91 or more days, and (cC) delinquent 90 or more days on a contractual basisin bankruptcy (determined in accordance with the MBA method), in each case as of the close of business on the last Business Day day of the immediately calendar month preceding monthsuch Distribution Date, in the aggregate and with respect to the Group 2 Mortgage Loans and Group 3 Mortgage Loans;
(xiv12) with respect to any Stack II Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Stated Principal Balance of such Mortgage LoansLoan as of the close of business on the Determination Date and the date of acquisition thereof, in the aggregate;
(xv13) whether a Stepdown Trigger Event has occurred and is in effect;
(14) the total number and aggregate Outstanding Principal Balance principal balance of all Mortgage Loans as to which the Mortgaged Property was any REO Property Properties in Stack II as of the end close of business on the related Due PeriodDetermination Date, in the aggregate;
(xvi15) any Floating Rate Certificate Carryover paid and all Floating Rate Certificate Carryover remaining on each class of the book value (the sum of (A) the Outstanding Principal Balance of Stack II Certificates on such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix16) the Average Loss Severity Percentagenumber and amount of Prepayment Penalties and the amount of late payment fees received during the related Prepayment Period in the aggregate;
(17) as of each Distribution Date, the amount, if any, received pursuant to each Cap Contract and the amount thereof to be paid to each class of Stack II Certificates;
(18) the number of Stack II 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 the Group 2 Mortgage Loans and the Group 3 Mortgage Loans;
(19) the amounts distributed as interest in respect of the portion of each class of Stack II Certificates that represents a regular or residual interest in a REMIC and the amount of distributions on each class of certificates not treated as distributions on a regular or residual interest in a REMIC;
(20) the aggregate amount of all Advances with respect to the Stack II Mortgage Loans recovered during the related Due Period:
(21) the allocation to each Class of Stack II Certificates of any Realized Losses during the related Due Period:
(22) with respect to each Class of Stack II Certificates, the amount of any Prepayment Interest Shortfalls on such Distribution Date; and
(xx23) the Senior Percentageinformation regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), Senior Prepayment Percentagesuch as additions or removals in connection with pool asset substitutions and repurchases (and purchase rates, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such informationif applicable). The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders for Stack II via the Securities Administrator’s 's website. The Securities Administrator will also make available on its website initially any reports on Form 10-D, 10-K and 8-K that have been prepared and filed by the Securities Administrator with respect to the Issuing Entity promptly after such material is electronically filed with, or furnished to, the Securities and Exchange Commission. The Securities Administrator's website will be located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance , and assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and notifying the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after at the end of the preceding calendar year beginning in 2006following address: ▇▇▇▇▇ Fargo Bank, the Securities Administrator willN.A., upon request▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates▇▇▇▇▇▇▇▇, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: Client Manager - MLMI 2006-
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer, the Servicer or the Servicer Wells Fargo Sub- Ser▇▇▇▇▇ included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1 and Group 2 Senior Percentage, Group 1 and Group 2 Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." As▇▇▇▇▇▇▇.▇ ▇▇ ▇▇▇.” Assistance in using ng the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Part▇▇▇ ▇▇▇) ▇ ▇▇▇ ▇-▇▇▇▇. Parties that are unable nable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Certificate Principal Amount Balance of $1,000, or in the case of the Residual Class B-IO Certificates, an initial Current Principal Notional Amount of $1001,000:
(i) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Certificate Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and Subsequent Cut-Off Date, as the case may be, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date and Subsequent Cut-Off Date, as the case may be, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Periodfor such Distribution Date, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date or the related Subsequent Cut-off Date, as the case may be;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date;
(xx) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates;
(xxi) the amount of the distribution made on such Distribution Date to Holders of each Class allocable to interest and the portion thereof, if any, provided by the Cap Contracts;
(xxii) the cumulative amount of Applied Realized Loss Amounts to date;
(xxiii) the amount withdrawn from the Pre-Funding Account, the Pre-Funding Reserve Account and the Interest Coverage Account and deemed to be Principal Funds or Interest Funds 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; and
(xxiv) whether a Trigger Event exists. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Trustee will also make monthly statements available each month to Certificateholders via the Trustee’s internet website. The Trustee’s internet website will initially be located at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇. Assistance in using the Trustee’s website service can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-7)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-Cut- off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage for each Loan Group;
(xix) the Average Loss Severity Percentageany Diverted Amount for such Distribution Date; and
(xx) the then applicable Group I-1, Group I-2, Group I-3, Group I-4, Group I-5, Group I-6, Group I-7, Group II-1, Group II-2 and Group II-3 Senior Percentage, Group I-1, Group I-2, Group I-3, Group I-4, Group I-5, Group I-6, Group I-7, Group II-1, Group II-2 and Group II-3 Senior Prepayment Percentage, Group I-1, Group I-2, Group I-3, Group I-4, Group I-5, Group I-6, Group I-7, Group II-1, Group II-2 and Group II-3 Subordinate Percentage and Group I-1, Group I-2, Group I-3, Group I-4, Group I-5, Group I-6, Group I-7, Group II-1, Group II-2 and Group II-3 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." ▇▇▇▇▇▇▇.▇▇▇ ▇.” Assistance in ▇ using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-6600. P▇▇▇▇. Parties that are ▇▇ ▇▇▇▇ ▇▇e unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s 's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after . To the end of extent timely received from the preceding calendar year beginning in 2006Securities Administrator, the Securities Administrator will, upon request, furnish a report Trustee will also make monthly statements available each month to each Holder of Certificateholders via the Certificates of record Trustee's internet website. The Trustee's internet website will initially be located at any time during "https://trustinve▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇". ▇▇▇▇▇▇▇▇▇▇ ▇▇ using the prior calendar year as to Trustee's website service can be obtained by calling the aggregate of amounts reported pursuant to subclauses Trustee's customer service desk at (a)(ii800) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code934-6802.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Arm Tr 2004 1)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator Trustee shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities AdministratorTrustee’s internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period preceding calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Periodpreceding calendar month, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Periodpreceding calendar month;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Periodprevious calendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) delinquent Delinquent 30 to 59 days on a contractual basis, (b) delinquent Delinquent 60 to 89 days on a contractual basis, and (c) delinquent Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Periodpreceding calendar month;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and;
(xix) [Reserved]
(xx) the then applicable Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator Trustee may make available each month, to any interested party, the monthly statement Certificates Distribution Report to Certificateholders Holders of the Certificates via the Securities AdministratorTrustee’s website initially located at “w▇▇.▇▇▇▇▇▇.▇.▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 20062008, the Securities Administrator will, upon request, Trustee will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2007-2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to the parties hereto and each Certificateholder via the Securities AdministratorTrustee’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date Date, and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateDate or the related;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution DateAverage Loss Severity Percentage;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date; and
(xx) with respect to the initial Distribution Date only, the amount withdrawn from the Class A Reserve Fund on such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities AdministratorTrustee, based solely on, and to the extent of, information provided to the Securities Administrator Trustee by the Master Servicer. The Securities Administrator Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may Trustee will make available each month, to any interested party, month the monthly statement to Certificateholders via the Securities AdministratorTrustee’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities AdministratorTrustee’s customer service desk and indicating such. The Securities Administrator Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator Trustee shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, Trustee will furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator Trustee determines may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, 1,000 or in the case of the Residual Certificates, an initial Current Principal Notional Amount of $1001,000, as the case may be:
(i) the Current Principal Amount and/or or Notional Amount Amount, as applicable, of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount Amount, as applicable, of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates; and
(xviii) the Average Loss Severity Percentage for each Loan Group; and
(xix) the then applicable Group I, Group II and Group III Senior Percentage, Group I, Group II and Group III Senior Prepayment Percentage, Group I, Group II and Group III Subordinate Percentage and Group I, Group II and Group III Subordinate Prepayment Percentage.
(xx) the amount if any, to be paid by a Derivative Counterparty under a Derivative Contract;
(xviiixxi) the amount withdrawn from the Class A/B Pre-Funding Reserve Fund (with respect Account and the Interest Coverage Account pursuant to the first three distribution dates onlySection 4.06(c) and Section 4.07(c), respectively, on that Distribution Date;
(xix) , the Average Loss Severity Percentageamount remaining on deposit in the Pre-Funding Reserve Account and in the Interest Coverage Account, following such Distribution Date, and the amount withdrawn from the Pre-Funding Reserve Account and used to buy Subsequent Mortgage Loans prior to such Distribution Date; and
(xxxxii) any Group I Carryover Shortfall, any Group I Carryover Shortfall Amounts, any Group II Carryover Shortfall, any Group II Carryover Shortfall Amounts, any Group III Carryover Shortfall, any Group III Carryover Shortfall Amounts the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage Net Interest Shortfall and Subordinate Prepayment Percentage, in any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each case, for such Distribution Date. Class of Certificates; The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period By April 30 of time after the end of the preceding calendar each year beginning in 2006, the Securities Administrator will, upon request, will furnish a such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator or the Trustee pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust 2005-Ar5)
Statements to Certificateholders. (a) On each Distribution Date, concurrently with Date the Trustee shall forward or cause to be forwarded by mail to each distribution to CertificateholdersHolder of a Certificate, the Securities Administrator shall make available Certificate Insurer and to the parties hereto Depositor and each Certificateholder via the Securities Administrator’s internet website Master Servicer a statement as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100such distribution setting forth:
(i) (a) the Current amount of such distribution to the Certificateholders of such Class applied to reduce the Certificate Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution DateBalance thereof and (b) the aggregate amount included therein representing Principal Prepayments;
(ii) the amount of such distribution to the distribution Certificateholders of such Class allocable to principal on each applicable Class of Certificatesinterest;
(iii) the aggregate amount of interest accrued at related servicing compensation received by or on behalf of the related PassMaster Servicer and any Sub-Through Rate Servicers with respect to each Class during such Distribution Date and such other customary information as the related Interest Accrual PeriodMaster Servicer deems necessary or desirable and supplies to the Trustee, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(iv) the Net Interest Shortfall and any other adjustments to interest at aggregate amount of Advances included in such distribution as of the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class close of Certificatesbusiness on such Distribution Date;
(v) the amount number and aggregate Stated Principal Balance of the distribution allocable to interest Mortgage Loans at the close of business on each Class of Certificates for such Distribution Date;
(vi) the PassCertificate Principal Balance of a Single Certificate of such Class, the aggregate Certificate Principal Balance of the Class A-1, Class A-2, Class A-3 and Class R-Through Rates for each I Certificates, respectively, the Notional Amount of the Class of Certificates with respect S Certificates, the Super Senior Percentage, the Class A-3 Percentage and the Super Senior Prepayment Percentage, after giving effect to the amounts distributed on such Distribution DateDate separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal;
(vii) the Current number and aggregate Stated Principal Amount and/or Notional Amount Balance of each Class of Certificates after such Distribution DateMortgage Loans (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days, (c) delinquent 91 days or more;
(viii) the amount number and aggregate Stated Principal Balance of any Monthly AdvancesMortgage Loans as to which foreclosure proceedings have been commenced in each case as of the related Determination Date and which are (a) delinquent 31 to 60 days, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer (b) delinquent 61 to 90 days, (c) delinquent 91 days or the Servicer included in such distributionmore;
(ix) the number and aggregate amount Stated Principal Balance of any Realized Losses (listed separately for Mortgage Loans as to which bankruptcy proceedings have been commenced in each category case as of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Determination Date and the amount and source which are (separately identifieda) of any distribution in respect thereof included in such distributiondelinquent 31 to 60 days, (b) delinquent 61 to 90 days, (c) delinquent 91 days or more;
(x) with respect to each any Mortgage Loan which incurred that became a Realized Loss REO Property during the related Prepayment Periodpreceding calendar month, (i) the loan number, (ii) the Scheduled number and Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) close of business on the Scheduled Principal Balance Distribution Date in such month and the date of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loanacquisition thereof;
(xi) the amount book value of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding any REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case Property as of the close of business on the last Business Day of the immediately calendar month preceding monththe Distribution Date;
(xii) the Pass-Through Rate in effect for the preceding calendar month with respect to each Class of Certificates;
(xiii) the aggregate Accrued Certificate Interest remaining unpaid, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period Special Hazard Amount, Fraud Loss Amount and the aggregate Outstanding Principal Balance of Bankruptcy Amount remaining available immediately after such Mortgage LoansDistribution Date;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which Realized Losses incurred since the Mortgaged Property was REO Property as of the end of the related Due PeriodCut-off Date;
(xvi) the book value weighted average (the sum of (Aby aggregate outstanding principal balance) the Outstanding Principal Balance of such Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available remaining term to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes availablematurity;
(xvii) the amount of Net Deferred Interest related Required Subordinated Amount, Subordinated Amount, Subordination Deficiency Amount, Subordination Increase Amount and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution DatesSubordination Reduction Amount;
(xviii) the aggregate amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that of any Realized Losses for such Distribution Date;
(xix) the Average Loss Severity Percentageaggregate amount of any recoveries on previously foreclosed loans from the Seller due to a breach of representation or warranty; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for amount of any Insured Payment made on such Distribution Date, the amount of any reimbursement payment made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(c)(v) and the amount of Cumulative Insurance Payments after giving effect to any such Insured Payment or any such reimbursement payment to the Certificate Insurer. The information set forth above shall be calculated or reported, as In the case may be, by the Securities Administrator, based solely on, and of information furnished pursuant to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partysubclauses (i)-(iii) above, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can amounts shall also be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇expressed as a dollar amount per Single Certificate. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding each calendar year beginning in 2006year, the Securities Administrator willTrustee shall prepare and forward, upon request, furnish a report to each Holder of the Certificates of record Person who at any time during the prior calendar year as to was a Holder of a Senior Certificate a statement containing the aggregate of amounts reported pursuant to information set forth in subclauses (a)(iii) and - (a)(viii) above with respect to the Certificatesabove, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns aggregated for such calendar yearyear or applicable portion thereof during which such person was a Certificateholder. Such obligations obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and forward, to each Holder of a Class R-I or Class R-II Certificate a copy of the reports forwarded to the Senior Certificateholders on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Class R-I or Class R-II Certificate a statement containing the information provided pursuant to the previous paragraph 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 CodeCode as from time to time are in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 5)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator Trustee shall make available to each Certificateholder, the parties hereto Seller, the Master Servicer, the Certificate Insurer and each Certificateholder via the Securities Administrator’s internet website as set Rating Agency, a statement setting forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class of Certificates during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates Rate for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution, stated separately for each Mortgage Loan Group;
(ix) the aggregate amount of any Realized Losses (listed stated separately for each category of Realized LossMortgage Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of with respect to each Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off DateLoan Group;
(xiixi) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Due Period, stated separately for each Mortgage Loan Group;
(xiiixii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Due Period, including the aggregate number and number, aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis30, (b) delinquent 60 to 89 days on a contractual basis60, and (c) delinquent 90 or more days on a contractual basisdays, in stated separately for each case as of the close of business on the last Business Day of the immediately preceding monthMortgage Loan Group;
(xivxiii) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans, stated separately for each Mortgage Loan Group;
(xvxiv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period, stated separately for each Mortgage Loan Group;
(xvixv) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator Master Servicer and the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xviixvi) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xxxvii) the then applicable Senior PercentagePercentage for each Senior Certificate Group, Senior Prepayment PercentagePercentage for each Senior Certificate Group, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated calculated, or reported, as the case may be, by the Securities Administrator, Trustee based solely on, and to the extent of, information on data provided to the Securities Administrator by the Master ServicerServicer pursuant to Section 6.07 and, with respect to prior periods, Section 6.06, upon which the Trustee may conclusively rely. The Securities Administrator may conclusively rely on such information and furnished by the Master Servicer shall not be sufficient for the Trustee to calculate any payments or statements it is required to confirm, verify or recalculate any such informationmake. The Securities Administrator 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 any interested party, the monthly statement month to Certificateholders via the Securities Administrator’s Trustee's internet website. The Trustee's internet website shall initially be located at “w▇▇"www.ctslink.com.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s obtaine▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the above distribution option distrib▇▇▇▇▇ ▇▇▇▇▇▇▇ are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to Trustee may change the way such reports monthly statements are distributed in order to make such distribution distributions more convenient and/or or more accessible to the above parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to CertificateholdersHolders of the Certificates, the Securities Administrator shall make available to the parties hereto hereto, each Rating Agency and each Certificateholder such Holder via the Securities Administrator’s 's internet website as set forth below, a Certificates Distribution Report containing the following informationinformation with respect to the Certificates and the Mortgage Loans, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Class I-R-1, Class I-R-2 and Class II-R-1 Certificates, an initial Current Principal Amount of $50, $50 and $100, respectively:
(i) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or (or Notional Amount Amount) of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Servicers included in such distribution;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
; (xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s website initially located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Senior Percentage, Group 1, Group 2, Group 3, Group 4 , Group 5, Group 6 and Group 7 Senior Prepayment Percentage, Group 1, Class 2, Class 3, Group 4, Group 5, Group 6 and Group 7 Subordinate Percentage and Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, in the case of the Interest Only Certificates, a Notional Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer Trustee included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan Loan, (iv) the amount, if any, included in Net Liquidation Proceeds representing a payment under the Supplemental PMI Policy and (ivv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number number, aggregate Outstanding Principal Balance and aggregate Outstanding Scheduled Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided thatPROVIDED THAT, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Dateprior calendar month for each Loan Group;
(xix) the Average then applicable Group I-1, Class I-A-2, Class I-A-3 and Group II Senior Percentage, Group I-1, Class I-A-2, Class I-A-3 and Group II Senior Prepayment Percentage, Group I-1, Class I-A-2, Class I-A-3 and Group II Subordinate Percentage and Group I-1, Class I-A-2, Class I-A-3 and Group II Subordinate Prepayment Percentage;
(xx) any Diverted Amount for such Distribution Date;
(xxi) the Stop-Loss Severity PercentageAmount as of the Cut-off Date, the Stop-Loss Amount as of the end of the related Prepayment Period and reduction in the Stop-Loss Amount during the related Prepayment Period; and
(xxxxii) with respect to the related Prepayment Period, (i) the Senior Percentagenumber of Mortgage Loans for which a payment was made by the Supplemental PMI Insurer under the Supplemental PMI Policy and the aggregate amount of any such payments, Senior Prepayment Percentage(ii) the number of Mortgage Loans for which a claim has been presented to the Supplemental PMI Insurer under the Supplemental PMI Policy and the aggregate amount of any such outstanding claims, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, (iii) the number of Mortgage Loans for which a claim was presented to the Supplemental PMI Insurer under the Supplemental PMI Policy which claim was denied by the Supplemental PMI Insurer and the aggregate amount of any such Distribution Datedenied claims. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested party, the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"www.ctslink.com." Assistance in using ▇▇.▇ ▇▇▇▇▇▇▇.▇ ▇▇▇.” Assistance in using the website can n be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇301) ▇▇▇815-▇▇▇▇6600. Parties that are unable to use the unab▇▇ ▇▇ ▇▇▇ ▇▇▇ above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses information (i) through (vii) in such information the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $100:"Monthly Statement"):
(i) the Current Principal Amount and/or Notional Amount amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates immediately prior Certificates, separately identified, allocable to such Distribution Dateprincipal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal on each applicable Class of Certificatesinterest, separately identified;
(iii) the aggregate amount the Servicing Fee during the related Due Period and such other customary information as the Trustee deems necessary or desirable, or which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(iv) the aggregate amount of Monthly Advances for the related Due Period;
(v) the aggregate Stated Principal Balance of the Group I Mortgage Loans, Group II Mortgage Loans, Group III Mortgage Loans and Group IV Mortgage Loans at the close of business at the end of the related Due Period;
(vi) the number, weighted average remaining term to maturity and weighted average Mortgage Interest Rate of the Group I Mortgage Loans, Group II Mortgage Loans, Group III Mortgage Loans and Group IV Mortgage Loans as of the related Due Date;
(vii) the number and aggregate unpaid principal balance of Group I Mortgage Loans, Group II Mortgage Loans, Group III Mortgage Loans and Group IV Mortgage Loans (a) one month, two months or three months delinquent on a contractual basis, (b) as to which foreclosure proceedings have been commenced and (c) in bankruptcy as of the close of business on the last day of the calendar month preceding such Distribution Date determined in accordance with the MBA method;
(viii) with respect to any Group I Mortgage Loan, Group II Mortgage Loan, Group III Mortgage Loan or Group IV Mortgage Loan that became an REO Property during the preceding calendar month, the Stated Principal Balance of such Group I Mortgage Loan, Group II Mortgage Loan, Group III Mortgage Loan or Group IV Mortgage Loan as of the date it became an REO Property;
(ix) the book value of any REO Property as of the close of business on the last Business Day of the calendar month preceding the Distribution Date, and, cumulatively, the total number and cumulative principal balance of all REO Properties as of the close of business of the last day of the preceding due period;
(x) the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xi) the aggregate amount of Prepayment Penalties collected during the related Prepayment Period;
(xii) the aggregate amount of Realized Losses incurred during the related Due Period and the cumulative amount of Realized Losses;
(xiii) the aggregate amount of Extraordinary Trust Fund Expenses withdrawn from the Master Servicer Collection Account for such Distribution Date;
(xiv) the Class Certificate Balance of each Class of Certificates, after giving effect to the distributions made on such Distribution Date;
(xv) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual PeriodPeriod and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(ivxvi) the Net aggregate amount of any Prepayment Interest Shortfall and any other adjustments Shortfalls for such Distribution Date as determined separately for each Loan Group, to interest at the extent not covered by Compensating Interest Payments by the related Servicer or the Master Servicer pursuant to the related Servicing Agreement or Section 6.06;
(xvii) the Group I Available Funds, Group II Available Funds, Group III Available Funds and Group IV Available Funds;
(xviii) the Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution Date;
(vixix) any amounts to be deposited in the Reserve Account pursuant to the Cap Contract as described in Section 6.01 and the amount thereof to be paid to the Class I-A Certificates;
(xx) the Pass-Through Rates for each Class balance of Certificates with respect to the Reserve Account as of such Distribution Date;; and
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution;
(ixxxi) the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Group I Mortgage Loans, cash deposits in connection with substitutions of Group II Mortgage Loans, Group III Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Group IV Mortgage Loans purchased or substituted for by the Seller during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and indicating the aggregate Outstanding Principal Balance Section of this Agreement requiring or allowing the purchase of each such Mortgage Loans;
(xv) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such Group I Mortgage Loan, (B) accrued interest through the date of foreclosure Group II Mortgage Loan, Group III Mortgage Loan and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;
(xviii) the amount withdrawn from the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;
(xix) the Average Loss Severity Percentage; and
(xx) the Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage, in each case, for such Distribution DateGroup IV Mortgage Loan. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement Monthly Statement to Certificateholders via the Securities Administrator’s 's website initially located at “w"▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Investors Trust, Series 2006-A2)
Statements to Certificateholders. (a) On each Distribution Date, concurrently Concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to the parties hereto and each Certificateholder via the Securities Administrator’s 's internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the each Class of Residual Certificates, an initial Current Principal Amount of $10050:
(i) the Current Principal Amount and/or Notional Amount of each Class of Certificates immediately prior to such Distribution Date;
(ii) the amount of the distribution allocable to principal on each applicable Class of Certificates;
(iii) the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
(iv) the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
(v) the amount of the distribution allocable to interest on each Class of Certificates for such Distribution DateCertificates;
(vi) the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
(vii) the Current Principal Amount and/or Notional Amount of each Class of Certificates after such Distribution Date;
(viii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distributiondistribution separately stated for each Loan Group;
(ix) the aggregate amount of any Realized Losses (listed separately for each category of Realized LossLoss and for each Loan Group) during the related Prepayment Period and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
(x) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
(xi) with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepaymentsprincipal prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
(xii) the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
(xiii) information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related Prepayment Period, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, and (c) delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
(xiv) for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
(xv) for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
(xvi) the book value (the sum of (A) the Outstanding Principal Balance of such the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO PropertyProperty in each Loan Group; provided that, in the event that such information is not available to the Securities Administrator on the Distribution Date, such information shall be furnished promptly after it becomes available;
(xvii) the amount of Net Deferred Interest and Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates;; and
(xviii) the amount withdrawn from Average Loss Severity for the Class A/B Reserve Fund (with respect to the first three distribution dates only), on that Distribution Date;prior calendar month for each Loan Group; and
(xix) the Average Loss Severity Percentage; and
(xx) the then applicable Group 1, Group 2 and Group 3 Senior Percentage, Group 1, Group 2 and Group 3 Senior Prepayment Percentage, Group 1, Group 2 and Group 3 Subordinate Percentage and Group 1, Group 2 and Group 3 Subordinate Prepayment Percentage, in each case, for such Distribution Date. The information set forth above shall be calculated or reported, as the case may be, by the Securities Administrator, based solely on, and to the extent of, information provided to the Securities Administrator by the Master Servicer. The Securities Administrator may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information. The Securities Administrator may make available each month, to any interested partyparty , the monthly statement to Certificateholders via the Securities Administrator’s 's website initially located at “w▇▇"www.ctslink.com." A▇▇▇▇▇▇▇.▇▇ ▇▇ ▇▇▇.” Assistance in using ing the website can be obtained by calling the Securities Administrator’s 's customer service desk at (301) 815-6600. Par▇▇▇) ▇ ▇▇▇-▇ ▇▇▇▇. Parties that are ▇ unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change.
(b) Within a reasonable period of time after the end of the preceding calendar year beginning in 2006, the Securities Administrator will, upon request, furnish a report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information with respect to the amount of servicing compensation and such other customary information as the Securities Administrator may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Securities Administrator pursuant to the requirements of the Code.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)