EXECUTION COPY
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EXHIBIT 99.16
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GSAA HOME EQUITY TRUST 2006-10
ASSET-BACKED CERTIFICATES
SERIES 2006-10
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
among
GS MORTGAGE SECURITIES CORP.
as Assignor
DEUTSCHE BANK NATIONAL TRUST COMPANY,
AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-10
as Assignee
M&T MORTGAGE CORPORATION,
as Servicer
and as acknowledged by
▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION
as Master Servicer
Dated as of
June 29, 2006
================================================================================
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT made this 29th
day of June, 2006 (this "Assignment Agreement"), among Deutsche Bank National
Trust Company ("Deutsche Bank"), not in its individual capacity, but solely as
trustee (in such capacity, the "Trustee") on behalf of GSAA Home Equity Trust
2006-10 (the "Assignee"), M&T Mortgage Corporation, a New York State Chartered
Corporation (the "Servicer"), GS Mortgage Securities Corp., a Delaware
corporation (the "Assignor" or "Depositor"), and as acknowledged by ▇▇▇▇▇
Fargo Bank, National Association ("▇▇▇▇▇ Fargo"), as master servicer (in such
capacity, the "Master Servicer").
WHEREAS, ▇▇▇▇▇▇▇ Sachs Mortgage Company ("GSMC") and First
National Bank of Nevada ("FNBN") have entered into the Amended and Restated
Master Mortgage Loan Purchase and Interim Servicing Agreement, dated as of
November 1, 2005 (the "Sale Agreement"), pursuant to which FNBN sold to GSMC
certain mortgage loans on a servicing-released basis listed on the mortgage
loan schedule attached as an exhibit to the Trust Agreement (as defined
below);
WHEREAS, GSMC and the Servicer have entered into the Flow
Servicing Rights Purchase and Servicing Agreement, dated as of August 22, 2005
(the "Servicing Agreement"), pursuant to which the Servicer has agreed to
service certain mortgage loans acquired by GSMC from time to time;
WHEREAS, GSMC has agreed to assign and convey certain mortgage
loans acquired from FNBN (the "Mortgage Loans") as of on each of January 27,
2005 (the "First Purchase Date") and July 27, 2005 (the "Second Purchase
Date"), in accordance with and subject to the Sale Agreement, to the Assignor
pursuant to an Assignment, Assumption and Recognition Agreement, dated as of
June 29, 2006 (the "GSMC Assignment Agreement");
WHEREAS, the Assignee has agreed on certain terms and conditions
to purchase from the Assignor the Mortgage Loans acquired by the Assignor
pursuant to the GSMC Assignment Agreement, which Mortgage Loans are listed on
the mortgage loan schedule attached as Exhibit 1 hereto (the "Mortgage Loan
Schedule"); and
WHEREAS, pursuant to a Master Servicing and Trust Agreement, dated
as of June 1, 2006 (the "Trust Agreement"), among the Depositor, Deutsche
Bank, as Trustee and as a custodian, U.S. Bank National Association, as a
custodian, JPMorgan Chase Bank, National Association, as a custodian and ▇▇▇▇▇
Fargo, as Master Servicer, securities administrator and as a custodian, the
Assignor will transfer the Mortgage Loans to the Assignee, and has
transferred, in the case of the Mortgage Loans acquired on the First Purchase
Date as of March 1, 2005 and in the case of the Mortgage Loans acquired on the
Second Purchase Date as of September 1, 2005, the Assignor's rights under the
Servicing Agreement, to the extent relating to the Mortgage Loans (other than
the rights of the Assignor to indemnification thereunder).
NOW THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:
1. Assignment and Assumption. (a) The Assignor hereby assigns
to the Assignee, as of the date hereof, all of its right, title and interest
in and to the GSMC Assignment Agreement (including without limitation the
rights of GSMC under the Servicing Agreement, to the extent assigned to the
Assignor under the GSMC Assignment Agreement) from and after the date hereof,
and the Assignee hereby assumes all of the Assignor's obligations under the
Servicing Agreement, to the extent relating to the Mortgage Loans from and
after the date hereof, and the Servicer hereby acknowledges such assignment
and assumption and hereby agrees to the release of the Assignor from any
obligations under the Servicing Agreement from and after the date hereof, to
the extent relating to the Mortgage Loans.
(b) The Assignor represents and warrants to the Assignee that
the Assignor has not taken any action which would serve to impair or encumber
the Assignor's ownership interest in the Mortgage Loans or the Servicing
Agreement since the date of the Servicing Agreement.
2. Accuracy of the Servicing Agreement. The Servicer and the
Assignor represent and warrant to the Assignee that (i) attached hereto as
Exhibit 2 is a true, accurate and complete copy of the Servicing Agreement,
(ii) the Servicing Agreement is in full force and effect as of the date
hereof, (iii) except as contemplated herein or as previously disclosed in the
GSMC Assignment Agreement, the Servicing Agreement has not been amended or
modified in any respect and (iv) no notice of termination has been given to
the Servicer under the Servicing Agreement. The Servicer in its capacity as
servicer under the Servicing Agreement, further represents and warrants that
the representations and warranties contained in Article IX of the Servicing
Agreement are true and correct as of the Reconstitution Date (as such term is
defined in the Servicing Agreement).
3. Recognition of Assignee.
(a) From and after the date hereof, the Servicer shall
note the transfer of the Mortgage Loans to the Assignee in its books and
records, shall recognize the Assignee as the owner of the Mortgage Loans and,
notwithstanding anything herein to the contrary, shall service all of the
Mortgage Loans for the benefit of the Assignee pursuant to the Servicing
Agreement the terms of which are incorporated herein by reference. It is the
intention of the Assignor, the Servicer and Assignee that the Servicing
Agreement shall be binding upon and inure to the benefit of the Servicer and
the Assignee and their successors and assigns.
(b) The Servicer further acknowledges that, from and after
the date hereof, it (and any of its successors under the Servicing Agreement)
will be subject to the supervision of the Master Servicer and that the Master
Servicer, acting on behalf of the Assignee as the owner of the Mortgage Loans,
shall have the same rights as were assigned by GSMC, in its capacity as the
original "Owner" under the Servicing Agreement, to the Assignor under the GSMC
Assignment Agreement, and further assigned hereunder by the Assignor to the
Assignee. Such rights that Master Servicer may enforce on behalf of the
Assignee will include, without limitation, the right to terminate the Servicer
under the Servicing Agreement upon the occurrence of an event of default
thereunder, the right to receive all remittances required to be made by the
Servicer under the Servicing Agreement, the right to receive all monthly
reports and other data
required to be delivered by the Servicer under the Servicing Agreement and the
right to exercise certain rights of consent and approval relating to actions
taken by the Servicer.
(c) All reports and other data required to be delivered by the
Servicer to the "Owner" under the Servicing Agreement shall be delivered to
the Master Servicer at the address set forth in Section 10 hereof. All
remittances required to be made to the Trustee, as the successor in interest
to the Assignor under the Servicing Agreement, shall be made instead to the
Master Servicer by wire transfer to the following account:
▇▇▇▇▇ Fargo Bank, National Association
ABA #: ▇▇▇▇▇▇▇▇▇
For credit to: SAS Clearing
Acct #: ▇▇▇▇▇▇▇▇▇▇
FFC to: GSAA 2006-10 Acct #50922800
(d) Monthly Reporting
Notwithstanding anything to the contrary in the Servicing
Agreement, with respect to the Mortgage Loans, not later than the tenth (10th)
calendar day of each month (or if such tenth calendar day is not a Business
Day, the immediately succeeding Business Day), the Servicer shall furnish to
the Master Servicer (i) (a) monthly loan data in the format set forth in
Exhibit 3 hereto (or in such other format mutually agreed-upon between the
Servicer and Master Servicer), (b) default loan data in the format set forth
in Exhibit 4 hereto (or in such other format mutually agreed-upon between the
Servicer and the Master Servicer) and (c) information regarding realized
losses and gains in the format set forth in Exhibit 5 hereto (or in such other
format mutually agreed-upon between the Servicer and the Master Servicer), in
each case relating to the period ending on the last day of the preceding
calendar month, (ii) all such information required pursuant to clause (i)(a)
above on a magnetic tape, electronic mail, or other similar media reasonably
acceptable to the Master Servicer and (iii) all supporting documentation with
respect to the information required pursuant to clause (i)(c) above.
4. Representations and Warranties of the Assignee. The Assignee
hereby represents and warrants to the Assignor as follows:
(a) Decision to Purchase. The Assignee represents and warrants
that it is a sophisticated investor able to evaluate the risks and merits of
the transactions contemplated hereby, and that it has not relied in connection
therewith upon any statements or representations of the Assignor or the
Servicer other than those contained in the Servicing Agreement or this
Assignment Agreement.
(b) Authority. The Assignee hereto represents and warrants that
it is duly and legally authorized to enter into this Assignment Agreement and
to perform its obligations hereunder and under the Servicing Agreement.
(c) Enforceability. The Assignee hereto represents and warrants
that this Assignment Agreement has been duly authorized, executed and
delivered by it and (assuming due authorization, execution and delivery
thereof by each of the other parties hereto) constitutes its legal, valid and
binding obligation, enforceable in accordance with its terms, except as such
enforcement may be limited by bankruptcy, insolvency, reorganization or other
similar laws affecting the enforcement of creditors' rights generally and by
general equitable principles (regardless of whether such enforcement is
considered in a proceeding in equity or at law).
5. Representations and Warranties of the Assignor. The Assignor
hereby represents and warrants to the Assignee as follows:
(a) Organization. The Assignor has been duly organized and is
validly existing as a corporation in good standing under the laws of the State
of Delaware with full power and authority (corporate and other) to enter into
and perform its obligations under the Servicing Agreement and this Assignment
Agreement.
(b) Enforceability. This Assignment Agreement has been duly
executed and delivered by the Assignor, and, assuming due authorization,
execution and delivery by each of the other parties hereto, constitutes a
legal, valid, and binding agreement of the Assignor, enforceable against it in
accordance with its terms, subject to bankruptcy, insolvency, reorganization,
moratorium, or other similar laws affecting creditors' rights generally and to
general principles of equity regardless of whether enforcement is sought in a
proceeding in equity or at law.
(c) No Consent. The execution, delivery and performance by the
Assignor of this Assignment Agreement and the consummation of the transactions
contemplated hereby do not require the consent or approval of, the giving of
notice to, the registration with, or the taking of any other action in respect
of, any state, federal or other governmental authority or agency, except such
as has been obtained, given, effected or taken prior to the date hereof.
(d) Authorization; No Breach. The execution and delivery of this
Assignment Agreement have been duly authorized by all necessary corporate
action on the part of the Assignor; neither the execution and delivery by the
Assignor of this Assignment Agreement, nor the consummation by the Assignor of
the transactions herein contemplated, nor compliance by the Assignor with the
provisions hereof, will conflict with or result in a breach of, or constitute
a default under, any of the provisions of the governing documents of the
Assignor or any law, governmental rule or regulation or any material judgment,
decree or order binding on the Assignor or any of its properties, or any of
the provisions of any material indenture, mortgage, deed of trust, contract or
other instrument to which the Assignor is a party or by which it is bound.
(e) Actions; Proceedings. There are no actions, suits or
proceedings pending or, to the knowledge of the Assignor, threatened, before
or by any court, administrative agency, arbitrator or governmental body (A)
with respect to any of the transactions contemplated by this Assignment
Agreement or (B) with respect to any other matter that in the judgment of the
Assignor will be determined adversely to the Assignor and will, if determined
adversely to the Assignor, materially adversely affect its ability to perform
its obligations under this Assignment Agreement.
It is understood and agreed that the representations and
warranties set forth in this Section 5 shall survive delivery of the
respective mortgage loan documents to the Assignee or its
designee and shall inure to the benefit of the Assignee and its assigns
notwithstanding any restrictive or qualified endorsement or assignment. Upon
the discovery by the Assignor or the Assignee and its assigns of a breach of
the foregoing representations and warranties, the party discovering such
breach shall give prompt written notice to the other parties to this
Assignment Agreement, and in no event later than two (2) Business Days from
the date of such discovery. It is understood and agreed that the obligations
of the Assignor set forth in Section 6 to repurchase a Mortgage Loan
constitute the sole remedies available to the Assignee and its assigns on
their behalf respecting a breach of the representations and warranties
contained in this Section 5.
It is understood and agreed that the Assignor has made no
representations or warranties to the Assignee other than those contained in
this Section 5, and no other affiliate of the Assignor has made any
representations or warranties of any kind to the Assignee.
6. Termination; Optional Clean-Up Call.
In connection with the Trust Agreement, the Master Servicer hereby
agrees to the following obligations described below. For purposes of this
Section 7 only, any capitalized term used but not defined in this Assignment
Agreement has the same meaning assigned thereto in the Trust Agreement.
In the event that a Person specified in Section 11.01 of the Trust
Agreement chooses to exercise its option set forth therein to purchase the
Mortgage Loans and REO Properties or to conduct an Auction Call for such
property of the Trust Fund, as the case may be, by no later than the 10th day
of the month of the final distribution, such Person shall notify the
Depositor, the Trustee and the Securities Administrator of the final
Distribution Date and of the applicable purchase or sale price of the Mortgage
Loans and REO Properties determined and in the manner as provided in the Trust
Agreement.
In the event the Mortgage Loans and REO Properties are purchased
or sold pursuant to Section 11.01 of the Trust Agreement, the Master Servicer
shall remit to the Securities Administrator the applicable Termination Price
on the Remittance Date immediately preceding the applicable final Distribution
Date. Upon such final deposit with respect to the Trust Fund and the receipt
by the Securities Administrator and the Custodians of a Request for Release
therefor, the Master Servicer shall direct the Custodians to release to the
Master Servicer or its designee the Custodial Files for the Mortgage Loans.
7. Continuing Effect. Except as contemplated hereby, the
Servicing Agreement shall remain in full force and effect in accordance with
its terms.
8. Governing Law.
THIS ASSIGNMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS HEREUNDER
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF).
EACH PARTY HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN
CONNECTION WITH, THIS ASSIGNMENT AGREEMENT, OR ANY OTHER DOCUMENTS AND
INSTRUMENTS EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE
OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF SUCH PARTY.
THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS
ASSIGNMENT AGREEMENT.
9. Notices. Any notices or other communications permitted or
required hereunder or under the Servicing Agreement shall be in writing and
shall be deemed conclusively to have been given if personally delivered at or
mailed by registered mail, postage prepaid, and return receipt requested or
transmitted by telex, telegraph or telecopier and confirmed by a similar
mailed writing, to:
(a) in the case of the Servicer,
M&T Mortgage Corporation
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇
With a copy to:
M&T Mortgage Corporation
One M&T ▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: General Counsel
or such other address as may hereafter be furnished by the Servicer;
(b) in the case of the Master Servicer,
▇▇▇▇▇ Fargo Bank, National Association
▇.▇. ▇▇▇ ▇▇
▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: GSAA 2006-10
Or in the case of overnight deliveries:
▇▇▇▇▇ Fargo Bank, National Association
▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇,
▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: GSAA 2006-10
or such address as may hereafter be furnished by the Master Servicer;
(c) in the case of the Trustee or the Assignee,
Deutsche Bank National Trust Company
▇▇▇▇ ▇▇▇▇ ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇,
▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇
Attention: Trust Administration - GS0610
Tel.: (▇▇▇) ▇▇▇-▇▇▇▇
or such other address as may hereafter be furnished by the Trustee or
Assignee; and
(d) in the case of the Assignor,
GS Mortgage Securities Corp.
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Tel.: (▇▇▇) ▇▇▇-▇▇▇▇
Fax: (▇▇▇) ▇▇▇-▇▇▇▇
or such other address as may hereafter be furnished by the Assignor.
10. Counterparts. This Assignment Agreement may be executed in
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
instrument.
11. Definitions. Any capitalized term used but not defined in
this Assignment Agreement has the meaning assigned thereto in the Servicing
Agreement.
12. Third Party Beneficiary. The parties agree that the Master
Servicer is intended to be, and shall have the rights of, a third party
beneficiary of this Assignment Agreement.
13. Trustee Capacity. It is expressly understood and agreed by
the parties hereto that (i) this Assignment Agreement is executed and
delivered by Deutsche Bank, not individually or personally but solely on
behalf of GSAA Home Equity Trust 2006-10, as the Assignee, in the exercise of
the powers and authority conferred and vested in it, (ii) each of the
representations, undertakings and agreements by Deutsche Bank is made and
intended for the purpose of binding only the GSAA Home Equity Trust 2006-10,
(iii) nothing herein contained shall be construed as creating any liability
for Deutsche Bank, individually or personally, to perform any covenant (either
express or implied) contained herein, and all such liability, if any, is
hereby expressly waived by the parties hereto, and such waiver shall bind any
third party making a claim by or through one of the parties hereto, and (iv)
under no circumstances shall Deutsche Bank be personally liable for the
payment of any indebtedness or expenses of the GSAA Home Equity Trust 2006-10,
or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the GSAA Home Equity Trust 2006-10
under this Assignment Agreement, the Trust Agreement or any related document.
IN WITNESS WHEREOF, the parties hereto have executed this
Assignment Agreement the day and year first above written.
GS MORTGAGE SECURITIES CORP.
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
DEUTSCHE BANK NATIONAL TRUST COMPANY,
not in its individual capacity but
solely as Trustee
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Vice President
M&T MORTGAGE CORPORATION, as Servicer
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
Acknowledged and Agreed:
▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION,
as Master Servicer
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
M&T Step 2 AAR
EXHIBIT 1
Mortgage Loan Schedule
----------------------
[On File with the Securities Administrator as provided by the Depositor]
1-1
EXHIBIT 2
Servicing Agreement
-------------------
[On File with the Depositor]
2-1
EXHIBIT 3
Standard File Layout - Master Servicing
------------------------------------------------------------------------- --------- ------------------------------------ ---------
Column Name Description Decimal Format Comment Max Size
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SER_INVESTOR_NBR A value assigned by the Servicer to define a Text up to 10 digits 20
group of loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
LOAN_NBR A unique identifier assigned to each loan by Text up to 10 digits 10
the investor.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Text up to 10 digits 10
Servicer. This may be different than the LOAN_NBR.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
BORROWER_NAME The borrower name as received in the file. Maximum length of 30 (Last, First) 30
It is not separated by first and last name.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_PAY_AMT Scheduled monthly principal and scheduled 2 No commas(,) or dollar signs ($) 11
interest payment that a borrower is expected
to pay, P&I constant.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NOTE_INT_RATE The loan interest rate as reported by the 4 Max length of 6 6
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6
service fee rate as reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NEW_PAY_AMT The new loan payment amount as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ARM_INDEX_RATE The index the Servicer is using to calculate 4 Max length of 6 6
a forecasted rate.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the beginning of the processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_END_PRIN_BAL The borrower's actual principal balance at 2 No commas(,) or dollar signs ($) 11
the end of the processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that MM/DD/YYYY 10
the borrower's next payment is due to the
Servicer, as reported by Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11
curtailment amount, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PIF_AMT The loan "paid in full" amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2
indicate the default/delinquent status of a 30=Foreclosure, , 60=PIF,
particular loan. 63=Substitution,
65=Repurchase,70=REO
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11
reported by the Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs ($) 11
loss, if applicable.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount 2 No commas(,) or dollar signs ($) 11
due at the beginning of the cycle date to be
passed through to investors.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs ($) 11
investors at the end of a processing cycle.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_PRIN_AMT The scheduled principal amount as reported 2 No commas(,) or dollar signs ($) 11
by the Servicer for the current cycle --
only applicable for Scheduled/Scheduled
Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
SCHED_NET_INT The scheduled gross interest amount less the 2 No commas(,) or dollar signs ($) 11
service fee amount for the current cycle as
reported by the Servicer -- only applicable for
Scheduled/Scheduled Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle -- only
applicable for Actual/Actual Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
ACTL_NET_INT The actual gross interest amount less the 2 No commas(,) or dollar signs ($) 11
service fee amount for the current reporting cycle
as reported by the Servicer -- only applicable for
Actual/Actual Loans.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower 2 No commas(,) or dollar signs ($) 11
prepays on his loan as reported by the
Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan 2 No commas(,) or dollar signs ($) 11
waived by the servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
MOD_TYPE The Modification Type. Varchar - value can be alpha or 30
numeric
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11
interest advances made by Servicer.
-------------------------- ---------------------------------------------- --------- ------------------------------------ ---------
EXHIBIT 4
Standard File Layout - Delinquency Reporting
------------------------------------------------------------------------------------------------------------------------------------
Column/Header Name Description Decimal Format Comment
---------------------------------------- -------------------------------------------------------------- ------------- --------------
SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This
may be different than the LOAN_NBR
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOAN_NBR A unique identifier assigned to each loan by the originator.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
CLIENT_NBR Servicer Client Number
---------------------------------------- -------------------------------------------------------------- ------------- --------------
SERV_INVESTOR_NBR Contains a unique number as
assigned by an external servicer
to identify a group of loans in
their system.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BORROWER_FIRST_NAME First Name of the Borrower.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BORROWER_LAST_NAME Last name of the borrower.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
▇▇▇▇_▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Name and Number of Property
---------------------------------------- -------------------------------------------------------------- ------------- --------------
PROP_STATE The state where the property located.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
PROP_ZIP Zip code where the property is located.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment is due to the MM/DD/YYYY
servicer at the end of processing cycle, as reported
by Servicer.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOAN_TYPE Loan Type (i.e. FHA, VA, Conv)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was filed. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BANKRUPTCY_CHAPTER_CODE The chapter under which the bankruptcy was filed.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BANKRUPTCY_CASE_NBR The case number assigned by the court to the bankruptcy
filing.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
POST_PETITION_DUE_DATE The payment due date once the bankruptcy has been approved MM/DD/YYYY
by the courts
---------------------------------------- -------------------------------------------------------------- ------------- --------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. Either by MM/DD/YYYY
Dismissal, Discharged and/or a Motion For Relief Was
Granted.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The Servicer MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As;
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled To End/Close MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually Completed MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter
to the servicer with MM/DD/YYYY
instructions to begin
foreclosure proceedings.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue Foreclosure MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a Foreclosure MM/DD/YYYY
Action
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected to occur. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FRCLSR_SALE_AMT The amount a property sold for at the foreclosure sale. 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
EVICTION_START_DATE The date the servicer initiates eviction of the borrower. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession of the property MM/DD/YYYY
from the borrower.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LIST_PRICE The price at which an REO property is marketed. 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
LIST_DATE The date an REO property is listed at a particular price. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
OFFER_AMT The dollar value of an offer for an REO property. 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
OFFER_DATE_TIME The date an offer is received by DA Admin or by the Servicer. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
REO_CLOSING_DATE The date the REO sale of the property is scheduled to close. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
Page 1 of 23
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: ▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
---------------------------------------- -------------------------------------------------------------- ------------- --------------
OCCUPANT_CODE Classification of how the property is occupied.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
PROP_CONDITION_CODE A code that indicates the condition of the property.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
PROP_INSPECTION_DATE The date a property inspection is performed. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
CURR_PROP_VAL The current "as is" value of the property based on brokers 2
price opinion or appraisal.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
REPAIRED_PROP_VAL The amount the property would be worth if repairs are 2
completed pursuant to a broker's price opinion or appraisal.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
If applicable:
--------------
---------------------------------------- -------------------------------------------------------------- ------------- --------------
DELINQ_STATUS_CODE FNMA Code Describing Status of Loan
---------------------------------------- -------------------------------------------------------------- ------------- --------------
DELINQ_REASON_CODE The circumstances which caused a
borrower to stop paying on a
loan. Code indicates the reason
why the loan is in default for
this cycle.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With Mortgage MM/DD/YYYY
Insurance Company.
---------------------------------------- -------------------------------------------------------------- ------------- --------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On Claim 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance Company MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was Issued By The Pool MM/DD/YYYY
Insurer
---------------------------------------- -------------------------------------------------------------- ------------- --------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance Company 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_A_CLAIM_FILED_DATE Date FHA Part A Claim Was Filed With HUD MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_A_CLAIM_AMT Amount of FHA Part A Claim Filed 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_A_CLAIM_PAID_DATE Date HUD Disbursed Part A Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_A_CLAIM_PAID_AMT Amount HUD Paid on Part A Claim 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_B_CLAIM_FILED_DATE Date FHA Part B Claim Was Filed With HUD MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_B_CLAIM_AMT Amount of FHA Part B Claim Filed 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_B_CLAIM_PAID_DATE Date HUD Disbursed Part B Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
FHA_PART_B_CLAIM_PAID_AMT Amount HUD Paid on Part B Claim 2 No commas(,)
or dollar
signs ($)
---------------------------------------- -------------------------------------------------------------- ------------- --------------
VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY
---------------------------------------- -------------------------------------------------------------- ------------- --------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,)
or dollar
signs ($)
------------------------------------------------------------------------------------------------------------------------------------
Standard File Codes - Delinquency Reporting
The Loss Mit Type field should show the approved Loss Mitigation Code as
follows:
o ASUM- Approved Assumption
o BAP- Borrower Assistance Program
o CO- Charge Off
o DIL- Deed-in-Lieu
o FFA- Formal Forbearance Agreement
o MOD- Loan Modification
o PRE- Pre-Sale
o SS- Short Sale
o MISC- Anything else approved by the PMI or Pool Insurer
NOTE: ▇▇▇▇▇ Fargo Bank will accept alternative Loss Mitigation Types to those
above, provided that they are consistent with industry standards. If Loss
Mitigation Types other than those above are used, the Servicer must supply
▇▇▇▇▇ Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.
The Occupant Code field should show the current status of the property code as
follows:
o Mortgagor
o Tenant
o Unknown
o Vacant
The Property Condition field should show the last reported condition of the
property as follows:
o Damaged
o Excellent
o Fair
o Gone
o Good
o Poor
o Special Hazard
o Unknown
Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Reason Code field should show the Reason for Delinquency
as follows:
------------------------ ------------------------------------------------
Delinquency Code Delinquency Description
------------------------ ------------------------------------------------
001 FNMA-Death of principal mortgagor
------------------------ ------------------------------------------------
002 FNMA-Illness of principal mortgagor
------------------------ ------------------------------------------------
003 FNMA-Illness of mortgagor's family member
------------------------ ------------------------------------------------
004 FNMA-Death of mortgagor's family member
------------------------ ------------------------------------------------
005 FNMA-Marital difficulties
------------------------ ------------------------------------------------
006 FNMA-Curtailment of income
------------------------ ------------------------------------------------
007 FNMA-Excessive Obligation
------------------------ ------------------------------------------------
008 FNMA-Abandonment of property
------------------------ ------------------------------------------------
009 FNMA-Distant employee transfer
------------------------ ------------------------------------------------
011 FNMA-Property problem
------------------------ ------------------------------------------------
012 FNMA-Inability to sell property
------------------------ ------------------------------------------------
013 FNMA-Inability to rent property
------------------------ ------------------------------------------------
014 FNMA-Military Service
------------------------ ------------------------------------------------
015 FNMA-Other
------------------------ ------------------------------------------------
016 FNMA-Unemployment
------------------------ ------------------------------------------------
017 FNMA-Business failure
------------------------ ------------------------------------------------
019 FNMA-Casualty loss
------------------------ ------------------------------------------------
022 FNMA-Energy environment costs
------------------------ ------------------------------------------------
023 FNMA-Servicing problems
------------------------ ------------------------------------------------
026 FNMA-Payment adjustment
------------------------ ------------------------------------------------
027 FNMA-Payment dispute
------------------------ ------------------------------------------------
029 FNMA-Transfer of ownership pending
------------------------ ------------------------------------------------
030 FNMA-Fraud
------------------------ ------------------------------------------------
031 FNMA-Unable to contact borrower
------------------------ ------------------------------------------------
INC FNMA-Incarceration
------------------------ ------------------------------------------------
Standard File Codes - Delinquency Reporting, Continued
The FNMA Delinquent Status Code field should show the Status of Default as
follows:
------------------------ -------------------------------------------------
Status Code Status Description
------------------------ -------------------------------------------------
09 Forbearance
------------------------ -------------------------------------------------
17 Pre-foreclosure Sale Closing Plan Accepted
------------------------ -------------------------------------------------
24 Government Seizure
------------------------ -------------------------------------------------
26 Refinance
------------------------ -------------------------------------------------
27 Assumption
------------------------ -------------------------------------------------
28 Modification
------------------------ -------------------------------------------------
29 Charge-Off
------------------------ -------------------------------------------------
30 Third Party Sale
------------------------ -------------------------------------------------
31 Probate
------------------------ -------------------------------------------------
32 Military Indulgence
------------------------ -------------------------------------------------
43 Foreclosure Started
------------------------ -------------------------------------------------
44 Deed-in-Lieu Started
------------------------ -------------------------------------------------
49 Assignment Completed
------------------------ -------------------------------------------------
61 Second Lien Considerations
------------------------ -------------------------------------------------
62 Veteran's Affairs-No Bid
------------------------ -------------------------------------------------
63 Veteran's Affairs-Refund
------------------------ -------------------------------------------------
64 Veteran's Affairs-Buydown
------------------------ -------------------------------------------------
65 Chapter 7 Bankruptcy
------------------------ -------------------------------------------------
66 Chapter 11 Bankruptcy
------------------------ -------------------------------------------------
67 Chapter 13 Bankruptcy
------------------------ -------------------------------------------------
EXHIBIT 5
Calculation of Realized Loss/Gain Form 332- Instruction Sheet
NOTE: Do not net or combine items. Show all expenses individually and
all credits as separate line items. Claim packages are due on the
remittance report date. Late submissions may result in claims not being
passed until the following month. The Servicer is responsible to remit
all funds pending loss approval and /or resolution of any disputed
items.
The numbers on the 332 form correspond with the numbers listed below.
Liquidation and Acquisition Expenses:
1. The Actual Unpaid Principal Balance of the Mortgage Loan. For
documentation, an Amortization Schedule from date of default
through liquidation breaking out the net interest and servicing
fees advanced is required.
2. The Total Interest Due less the aggregate amount of servicing fee
that would have been earned if all delinquent payments had been
made as agreed. For documentation, an Amortization Schedule from
date of default through liquidation breaking out the net interest
and servicing fees advanced is required.
3. Accrued Servicing Fees based upon the Scheduled Principal Balance
of the Mortgage Loan as calculated on a monthly basis. For
documentation, an Amortization Schedule from date of default
through liquidation breaking out the net interest and servicing
fees advanced is required.
4-12. Complete as applicable. Required documentation:
* For taxes and insurance advances - see page
2 of 332 form - breakdown required showing period
of coverage, base tax, interest, penalty.
Advances prior to default require evidence of servicer efforts to
recover advances.
* For escrow advances - complete payment
history
(to calculate advances from last positive
escrow balance forward)
* Other expenses - copies of corporate advance
history showing all payments
* REO repairs > $1500 require explanation
* REO repairs >$3000 require evidence of at
least 2 bids.
* Short Sale or Charge Off require P&L
supporting the decision and WFB's approved Officer Certificate
* Unusual or extraordinary items may require
further documentation.
13. The total of lines 1 through 12.
Credits:
--------
________________________________________________________________________________
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
14-21. Complete as applicable. Required documentation:
* Copy of the HUD 1 from the REO sale. If a
3rd Party Sale, bid instructions and Escrow Agent / Attorney
Letter of Proceeds Breakdown.
* Copy of EOB for any MI or gov't guarantee
* All other credits need to be clearly defined
on the 332 form
22. The total of lines 14 through 21.
Please Note: For HUD/VA loans, use line (18a) for Part A/
Initial proceeds and line (18b) for Part B/
Supplemental proceeds.
Total Realized Loss (or Amount of Any Gain)
-------------------------------------------
23. The total derived from subtracting line 22 from 13. If the amount
represents a realized gain, show the amount in parenthesis ( ).
________________________________________________________________________________
Page 2 of 23
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: ▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
Calculation of Realized Loss/Gain Form 332
Prepared by: __________________ Date: _______________
Phone: ______________________ Email Address:_____________________
------------------------ ------------------------ -----------------------
| Servicer Loan No. | | Servicer Name | | Servicer Address |
| | | | | |
| | | | | |
------------------------ ------------------------ -----------------------
▇▇▇▇▇ FARGO BANK, N.A. Loan No.______________________
Borrower's Name: _________________________________________________________
Property Address: ________________________________________________________
Liquidation Type: REO Sale 3rd Party Sale Short Sale Charge Off
Was this loan granted a Bankruptcy deficiency or cramdown Yes No
If "Yes", provide deficiency or cramdown amount __________________________
Liquidation and Acquisition Expenses:
(1) Actual Unpaid Principal Balance of Mortgage Loan $____________ (1)
(2) Interest accrued at Net Rate ____________ (2)
(3) Accrued Servicing Fees ____________ (3)
(4) Attorney's Fees ____________ (4)
(5) Taxes (see page 2) ____________ (5)
(6) Property Maintenance ____________ (6)
(7) MI/Hazard Insurance Premiums (see page 2) ____________ (7)
(8) Utility Expenses ____________ (8)
(9) Appraisal/BPO ____________ (9)
(10) Property Inspections ____________ (10)
(11) FC Costs/Other Legal Expenses ____________ (11)
(12) Other (itemize) ____________ (12)
________________________________________________________________________________
Page 3 of 23
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: ▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
Cash for Keys__________________________ ____________ (12)
HOA/Condo Fees_______________________ ____________ (12)
______________________________________ ____________ (12)
Total Expenses $____________ (13)
Credits:
(14) Escrow Balance $____________ (14)
(15) HIP Refund ____________ (15)
(16) Rental Receipts ____________ (16)
(17) Hazard Loss Proceeds ____________ (17)
(18) Primary Mortgage Insurance / Gov't Insurance ____________ (18a)
HUD Part A
____________ (18b)
HUD Part B
(19) Pool Insurance Proceeds ____________ (19)
(20) Proceeds from Sale of Acquired Property ____________ (20)
(21) Other (itemize) ____________ (21)
_________________________________________ ____________ (21)
Total Credits $____________ (22)
Total Realized Loss (or Amount of Gain) $____________ (23)
________________________________________________________________________________
Page 4 of 23
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: ▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
Escrow Disbursement Detail
----------------------------------------------------------------------------------------------------------------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
----------------------------------------------------------------------------------------------------------------------
________________________________________________________________________________
Page 5 of 23
Please be advised that failure to comply with ANY or all of the guidelines
entailed herein may result in issuance of late reporting fees.
(C) Copyright ▇▇▇▇▇ Fargo Bank, Corporate Trust Services
Contact us with Reporting Questions: ▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇
