Exhibit 10.2(C)
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EXECUTION COPY
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
August 30, 2007, among Bank of America, National Association, a national banking
association (the "Assignor"), Banc of America Funding Corporation, a Delaware
corporation ("BAFC"), U.S. Bank National Association, a national banking
association, not in its individual capacity, but solely as trustee of the Banc
of America Funding 2007-7 Trust (the "Assignee"), Washington Mutual Bank
(formerly known as Washington Mutual Bank, FA), a federally chartered savings
bank ("WMB") and as acknowledged by ▇▇▇▇▇ Fargo Bank, N.A., a national banking
association ("▇▇▇▇▇ Fargo Bank"), as a master servicer of the Banc of America
Funding 2007-7 Trust;
WHEREAS, pursuant to (i) that certain Assignment, Assumption and
Recognition Agreement, dated June 30, 2004, among DLJ Mortgage Capital, Inc.
("DLJMC"), Washington Mutual Mortgage Securities Corp. ("WMMSC"), the Assignor
and WMB, and (ii) that certain Assignment, Assumption and Recognition Agreement,
dated July 30, 2004, among DLJMC, WMMSC and the Assignor (collectively, the "DLJ
Purchase Agreement"), each of which is attached in Appendix A hereto, the
Assignor purchased the mortgage loans listed on Exhibit A-1 attached hereto (the
"DLJ Mortgage Loans") from DLJMC;
WHEREAS, pursuant to (i) that certain Mortgage Loan Purchase and Sale
Agreement (Amended and Restated), dated as of July 1, 2003, by and among WMB,
Washington Mutual Bank fsb, Washington Mutual Bank and the Assignor (as
successor in interest to Banc of America Mortgage Capital Corporation
("BAMCC")), as purchaser (as amended by (a) that certain Master Assignment,
Assumption and Recognition Agreement (the "MAAR"), dated as of July 1, 2004, by
and among BAMCC, the Assignor, Washington Mutual Bank fsb, Washington Mutual
Bank and WMB, and (b) that certain Regulation AB Amendment to the Mortgage Loan
Purchase and Sale Agreement, dated as of January 1, 2006, by and among
Washington Mutual Bank fsb, WMB and the Assignor) (collectively, the "WMB
Purchase Agreement"), and (ii) that certain Term Sheet, dated May 17, 2007, by
and between WMB and the Assignor (collectively, the "WMB Purchase Agreement" and
together with the DLJ Purchase Agreement, the "Purchase Agreement"), which is
attached in Appendix B hereto, the Assignor purchased the mortgage loans listed
on Exhibit A-2 attached hereto (the "WMB Mortgage Loans" and together with the
DLJ Mortgage Loans, the "Mortgage Loans") from WMB;
WHEREAS, WMB currently services the Mortgage Loans pursuant to that certain
Servicing Agreement (Amended and Restated), dated as of July 1, 2003, by and
between the Assignor and WMB, as servicer (the "Servicer") (as amended by (a)
the MAAR and (b) that certain Regulation AB Amendment to the Servicing
Agreement, dated as of January 1, 2006, by and between WMB and the Assignor
(collectively, the "Servicing Agreement" and together with the Purchase
Agreement, the "Underlying Agreements")), and such Servicing Agreement is
attached in Appendix C hereto;
WHEREAS, on the date hereof, the Assignor is transferring all of its right,
title and interest in and to the Mortgage Loans to BAFC;
WHEREAS, on the date hereof, BAFC is transferring all of its right, title
and interest in and to the Mortgage Loans to the Assignee; and
WHEREAS, on the date hereof, ▇▇▇▇▇ Fargo Bank, as master servicer (in such
capacity, the "Master Servicer"), is entering into a Pooling and Servicing
Agreement, dated the date hereof (the "Pooling Agreement"), among BAFC, the
Master Servicer, ▇▇▇▇▇ Fargo Bank, as securities administrator (in such
capacity, the "Securities Administrator"), and the Assignee, pursuant to which
the Master Servicer will supervise, monitor and oversee the servicing of the
Mortgage Loans.
For and in consideration of the sum of one dollar ($1.00) and other
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, and of the mutual covenants herein contained, the parties hereto
hereby agree as follows:
1. The Assignor hereby grants, transfers and assigns to BAFC, and BAFC
hereby grants, transfers and assigns to Assignee, all of the right, title and
interest of the Assignor in, to and under (a) the Mortgage Loans and (b) all
rights and obligations under the Underlying Agreements to the extent related to
the Mortgage Loans.
The Assignor specifically reserves and does not assign to BAFC or the
Assignee any right, title and interest in, to or under any mortgage loan subject
to the Underlying Agreements other than the Mortgage Loans.
The Assignee assumes all of the interests and rights of the Assignor under
the Underlying Agreements solely with respect to the Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC, WMB
and the Assignee that, as of the date hereof:
a. The Assignor is the lawful owner of the Mortgage Loans with the full
right to transfer the Mortgage Loans and any and all of the interests,
rights and obligations under the Underlying Agreements as they relate
to the Mortgage Loans free and clear from any and all claims and
encumbrances whatsoever;
b. The Assignor has not received notice of, and has no knowledge of, any
offsets, counterclaims or other defenses available to WMB with respect
to the Underlying Agreements or the Mortgage Loans;
c. The Assignor has not waived or agreed to any waiver under, or agreed
to any amendment or other modification of, the Underlying Agreements
or the Mortgage Loans. The Assignor has no knowledge of, and has not
received notice of, any waivers under or amendments or other
modifications of, or assignments of rights or obligations under, the
Underlying Agreements or the Mortgage Loans; and
d. Neither the Assignor nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Mortgage
Loans, any interest in the Mortgage Loans or any other similar
security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Mortgage Loans, any interest in the
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Mortgage Loans or any other similar security from, or otherwise
approached or negotiated with respect to the Mortgage Loans, any
interest in the Mortgage Loans or any other similar security with, any
person in any manner, or made any general solicitation by means of
general advertising or in any other manner, or taken any other action
which would constitute a distribution of the Mortgage Loans under the
Securities Act of 1933, as amended (the "Securities Act"), or which
would render the disposition of the Mortgage Loans a violation of
Section 5 of the Securities Act or require registration pursuant
thereto.
3. From and after the date hereof, WMB shall (i) note the transfer of the
Mortgage Loans to the Assignee in its books and records and (ii) recognize the
Assignee as the owner of the Mortgage Loans. WMB acknowledges that a REMIC
election will be made with respect to the Mortgage Loans and that the Master
Servicer, pursuant to the Pooling Agreement, will administer on behalf of the
Assignee the terms and conditions of the Servicing Agreement. The Master
Servicer shall be authorized to enforce directly against the Servicer any of the
obligations of the Servicer to the Assignor or its assignees provided for in the
Servicing Agreement, other than the indemnification obligations of the Servicer
to the Assignor only.
4. The Servicer hereby agrees to service the Mortgage Loans in accordance
with the terms of the Servicing Agreement, as modified by Section 6 herein, for
the benefit of the Assignee. All remittances by the Servicer shall be made to
the account or accounts designated by the Master Servicer to the Servicer in
writing from time to time. Wire remittances shall be sent to: ▇▇▇▇▇ FARGO BANK,
N.A., ABA# ▇▇▇▇▇▇▇▇▇, FOR CREDIT TO: SAS CLEARING, ACCT: ▇▇▇▇▇▇▇▇▇▇, FFC TO:
BAFC 2007-7 # 53175200.
5. WMB hereby represents and warrants to each of the other parties hereto
(i) that the representations and warranties of WMB in Section 5.7 of the
Servicing Agreement are true and correct in all material respects as of the date
hereof with the same force and effect as though expressly made at and/or as of
the date hereof and (ii) that WMB has not taken or omitted to take any required
action the omission of which would have the effect of impairing any mortgage
insurance or guarantee on the Mortgage Loans.
6. The Servicer hereby agrees to the following modifications to the
Servicing Agreement with respect to the Mortgage Loans:
a. Article 1. The first sentence in the definition of "Monthly Remittance
Date" is hereby replaced in its entirety with the following:
"The eighteenth (18th) day (or if such day is not a Business Day, the
immediately preceding Business Day) of any month."
b. Article 1. The definition of "Qualified Depository" is hereby replaced
in its entirety with the following:
"Any of (i) an account or accounts maintained with a federal or state
chartered depository institution or trust company the short-term
unsecured debt obligations of which have one of the two highest
short-term ratings of each Rating Agency at the time any amounts are
held on deposit therein, or (ii) a trust account or accounts
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maintained with the trust department of a federal or state chartered
depository institution or trust company, acting in its fiduciary
capacity."
c. Section 3.2. Section 3.2(a) is modified by adding the following as the
second paragraph of such section:
"The Servicer shall provide to the Owner or any Master Servicer (i)
the information set forth in Exhibit F-1, Exhibit F-2 and Exhibit F-3
in a mutually agreeable format and (ii) any other information readily
available to the Servicer on its servicing system relating to the
servicing of the Mortgage Loans the Master Servicer reasonably
requires (provided, however, that the Servicer shall have no
obligation to provide to the Master Servicer any information pursuant
to this clause (ii) which is unduly burdensome or costly for the
Servicer to provide to the Master Servicer), in such form as may be
mutually agreed upon between the Servicer and the Master Servicer,
with respect to each Mortgage Loan serviced by the Servicer no later
than the tenth (10th) calendar day of each month, or if such day is
not a business day, the next business day, commencing on September 10,
2007 to enable the Master Servicer to provide such information to the
securities administrator."
The exhibits referenced in this Section 6(b) are attached to this
Agreement on Exhibit B hereto.
d. The Servicing Fee Rate with respect to each Mortgage Loan is specified
on Exhibit A.
7. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Underlying Agreements is:
U.S. Bank National Association
▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Structured Finance Trust Services, BAFC 2007-7
The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Underlying Agreements is:
Bank of America, National Association
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Managing Director
BAFC's address for purposes of all notices and correspondence related to
the Mortgage Loans is:
Banc of America Funding Corporation
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: General Counsel and Chief Financial Officer
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WMB's address for purposes of all notices and correspondence related to the
Mortgage Loans is:
Washington Mutual Bank
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ 1401
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: General Counsel
The Servicer's address for purposes of all notices and correspondence
related to its role as Servicer of the Mortgage Loans is:
Washington Mutual Bank
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Investor Reporting
▇▇▇▇▇ Fargo Bank's address for purposes of all notices and
correspondence related to its role as Master Servicer of the Mortgage Loans is:
▇▇▇▇▇ Fargo Bank, N.A.
▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Client Manager - BAFC 2007-7
8. WMB hereby acknowledges that ▇▇▇▇▇ Fargo Bank, N.A. has been appointed
as the Master Servicer of the Mortgage Loans pursuant to the Pooling Agreement,
and therefore has the right to enforce all obligations of WMB, as they relate to
the Mortgage Loans, under the Servicing Agreement. Such right will include,
without limitation, the right to exercise any and all rights of the Assignor
(but not the obligations) under the Servicing Agreement to monitor and enforce
the obligations of WMB thereunder, the right to terminate WMB under the
Servicing Agreement upon the occurrence of an event of default thereunder, the
right to receive all remittances required to be made by WMB under the Servicing
Agreement, the right to receive all monthly reports and other data required to
be delivered by WMB under the Servicing Agreement, the right to examine the
books and records of WMB, the right to enforce the Owner's indemnification
rights, and the right to exercise certain rights of consent and approval
relating to actions taken by WMB.
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Notwithstanding anything to the contrary herein, the Master Servicer hereby
acknowledges and agrees that the Master Servicer's authority to enforce the
obligations of WMB under the Servicing Agreement is solely in a representative
capacity and that in no event shall the Master Servicer be entitled to receive
indemnification rights from WMB, except as provided in Section 8.9(b) of the
Servicing Agreement. Notwithstanding anything to the contrary herein, nothing
shall limit the indemnification rights granted to the Assignor under the
Servicing Agreement or to the Trustee as Assignee under this Agreement.
9. Capitalized terms used but not defined herein shall have the meanings
assigned to them in the Servicing Agreement.
10. This Agreement shall be construed in accordance with the laws of the
State of New York, without regard to conflicts of law principles, and the
obligations, rights and remedies of the parties hereunder shall be determined in
accordance with such laws.
11. No term or provision of this Agreement may be waived or modified unless
such waiver or modification is in writing and signed by the party against whom
such waiver or modification is sought to be enforced.
12. This Agreement shall inure to the benefit of the successors and assigns
of the parties hereto. Any entity into which the Assignor, the Assignee, WMB or
BAFC may be merged or consolidated shall, without the requirement for any
further writing, be deemed the Assignor, the Assignee, WMB or BAFC,
respectively, hereunder.
13. This Agreement shall survive the conveyance of the Mortgage Loans and
the assignment of Underlying Agreements to the extent of the Mortgage Loans by
the Assignor to the Assignee and the termination of the Underlying Agreements.
14. This Agreement may be executed simultaneously in any number of
counterparts. Each counterpart shall be deemed to be an original and all such
counterparts shall constitute one and the same instrument.
15. It is expressly understood and agreed by the parties hereto that (i)
this Agreement is executed and delivered by U.S. Bank National Association not
individually or personally but solely as trustee on behalf of the Trust, in the
exercise of the powers and authority conferred and vested in it under the terms
of the Pooling and Servicing Agreement, and (ii) under no circumstances shall
U.S. Bank National Association be personally liable for the payment of any
indebtedness or expenses of the Trust (including, without limitation, any fees,
expenses or indemnities payable under the Underlying Agreements), or be liable
for the breach or failure of any obligation, representation, warranty or
covenant of the Trust under this Agreement or any other related documents, as to
all of which recourse shall be had solely to the assets of the Trust in
accordance with the terms of the Pooling and Servicing Agreement.
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IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and
Recognition Agreement to be executed by their duly authorized officers as of the
date first above written.
Bank of America, National Association,
as Assignor
By: /s/ ▇▇▇▇▇ ▇. Good
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Name: ▇▇▇▇▇ ▇. Good
Title: Principal
U.S. Bank National Association,
as Assignee
By: /s/ ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
Banc of America Funding Corporation
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
Washington Mutual Bank
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇
-----------------------------------
Name: ▇▇▇▇▇▇ ▇▇▇▇
Title: Vice President
Acknowledged and Agreed
as of the date first above written:
▇▇▇▇▇ Fargo Bank, N.A.,
as Master Servicer
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Colli
------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇
Title: Vice President
[Assignment, Assumption and Recognition Agreement for BAFC 2007-7]
EXHIBIT A-1
Schedule of DLJ Mortgage Loans
[Please see the Free Writing Prospectus filed and
accepted by the Securities and Exchange
Commission on August 30, 2007, with a filing date
of August 30, 2007 and accession number
0001379402-07-000035.]
EXHIBIT A-2
Schedule of WMB Mortgage Loans
[Please see the Free Writing Prospectus filed and
accepted by the Securities and Exchange
Commission on August 30, 2007, with a filing date
of August 30, 2007 and accession number
0001379402-07-000035.]
EXHIBIT B
EXHIBIT F-1
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:
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 ( ).
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)
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)
Escrow Disbursement Detail
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
Type Date Paid Period of Total Paid Base Amount Penalties Interest
(Tax /Ins.) Coverage
------------------ --------------- ---------------- --------------- ---------------- ---------------- ----------------
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EXHIBIT F-2
FORM OF SERVICER INFORMATION - WMB
The following information will be e-mailed to the Master Servicer by WMB:
LOAN NUMBER
INTEREST RATE
PENDING RATE
SCHED P&I PMT
SCHEDULED PRINCIPAL
GROSS INTEREST
CURTAILMENT COLL
PIF PRINCIPAL
PIF INTEREST DIFF
ARM INDEX
PEND INDEX
ENDING SCHED BAL
INVESTOR LOAN NUM
SERVICE FEE RATE
DUE DATE
YIELD RATE
BEGINNING BALANCE
ENDING BALANCE
BEGINNING SCHED BAL
PRINCIPAL COLLECTED
SCHEDULED NET INT
SCHEDULED BUYDOWN
SERVICE FEE COLL
REMITTANCE AMOUNT
In addition, a hard copy of the following information will be sent to the Master
Servicer by WMB:
DELINQUENCIES:
1-30
31-60
61-90
91 +
Foreclosures
REO Properties
EXHIBIT F-3
Standard File Layout - Scheduled/Scheduled
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Column Name Description Decimal Format Comment Max Size
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SER_INVESTOR_NBR A value assigned by the Servicer to define a group Text up to 10 digits 20
of loans.
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LOAN_NBR A unique identifier assigned to each loan by the Text up to 10 digits 10
investor.
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SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. Text up to 10 digits 10
This may be different than the LOAN_NBR.
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BORROWER_NAME The borrower name as received in the file. It is Maximum length of 30 (Last, First) 30
not separated by first and last name.
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SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) or dollar signs ($) 11
payment that a borrower is expected to pay, P&I
constant.
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NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
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NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
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SERV_FEE_RATE The servicer's fee rate for a loan as reported by 4 Max length of 6 6
the Servicer.
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SERV_FEE_AMT The servicer's fee amount for a loan as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
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NEW_PAY_AMT The new loan payment amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
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NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
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ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
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ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the 2 No commas(,) or dollar signs ($) 11
beginning of the processing cycle.
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ACTL_END_PRIN_BAL The borrower's actual principal balance at the end 2 No commas(,) or dollar signs ($) 11
of the processing cycle.
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BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
borrower's next payment is due to the Servicer, as
reported by Servicer.
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SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
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SERV_CURT_DATE_1 The curtailment date associated with the first MM/DD/YYYY 10
curtailment amount.
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CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
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SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
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SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
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CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
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SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
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SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
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CURT_ADJ_AMT_3 The curtailment interest on the third curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
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PIF_AMT The loan "paid in full" amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
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PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
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Action Code Key: 15=Bankruptcy, 2
▇▇▇▇▇▇▇▇▇▇▇▇▇▇, , ▇▇▇▇▇▇,
63=Substitution, 65=Repurchase,70=REO
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ACTION_CODE The standard FNMA numeric code used to indicate
the default/delinquent status of a particular
loan.
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INT_ADJ_AMT The amount of the interest adjustment as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
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SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
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NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar signs ($) 11
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LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) or dollar signs ($) 11
applicable.
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SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at 2 No commas(,) or dollar signs ($) 11
the beginning of the cycle date to be passed through
to investors.
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SCHED_END_PRIN_BAL The scheduled principal balance due to investors at 2 No commas(,) or dollar signs ($) 11
the end of a processing cycle.
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SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current cycle -- only applicable
for Scheduled/Scheduled Loans.
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SCHED_NET_INT The scheduled gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current cycle as reported by
the Servicer -- only applicable for
Scheduled/Scheduled Loans.
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ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle -- only
applicable for Actual/Actual Loans.
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ACTL_NET_INT The actual gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current reporting cycle as
reported by the Servicer -- only applicable for
Actual/Actual Loans.
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PREPAY_PENALTY_ AMT The penalty amount received when a borrower prepays 2 No commas(,) or dollar signs ($) 11
on his loan as reported by the Servicer.
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PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived by 2 No commas(,) or dollar signs ($) 11
the servicer.
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MOD_DATE The Effective Payment Date of the Modification for MM/DD/YYYY 10
the loan.
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MOD_TYPE The Modification Type. Varchar - value can be alpha or numeric 30
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DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or dollar signs ($) 11
advances made by Servicer.
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APPENDIX A
Purchase Agreement
[Available upon request]
APPENDIX B
Servicing Agreement
[Included as Exhibits 10.2(A) and (B) to the Current Report on Form 8-K
pursuant to which this Assignment, Assumption and Recognition
Agreement is filed.]