Exhibit 10.4(C)
EXECUTION VERSION
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (the "Agreement"), dated
January 31, 2006, is among Bank of America, National Association, a national
banking association ("Assignor"), Banc of America Funding Corporation, a
Delaware corporation ("BAFC"), U.S. Bank National Association, a national
banking association, as trustee of the Banc of America Funding 2006-A Trust
("Assignee"), ▇▇▇▇▇ Fargo Bank, N.A., a national banking association ("▇▇▇▇▇
Fargo Bank"), as servicer and acknowledged by ▇▇▇▇▇ Fargo Bank, N.A. as master
servicer of the Banc of America Funding 2006-A Trust.
WHEREAS, pursuant to (i) that certain Master Seller's Warranties and
Servicing Agreement, dated as of March 1, 2005 (as amended and restated on
December 1, 2005, the "MSWSA"), by and between Assignor, as purchaser, and ▇▇▇▇▇
Fargo Bank, as seller and servicer, (ii) the Master Mortgage Loan Purchase
Agreement, dated as of March 1, 2005 (as amended and restated on December 1,
2005, the "MMLPA"), by and between Assignor, as purchaser, and ▇▇▇▇▇ Fargo Bank,
as seller and servicer, (iii) that certain Assignment and Conveyance Agreement,
dated as of December 9, 2005, by and between Assignor and ▇▇▇▇▇ Fargo Bank, and
(iv) that certain Assignment and Conveyance Agreement, dated as of December 29,
2005, by and between Assignor and ▇▇▇▇▇ Fargo Bank (collectively, with the MSWSA
and the MMLPA, the "Purchase and Servicing Agreements"), each of which is
attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as
defined herein) from ▇▇▇▇▇ Fargo Bank and ▇▇▇▇▇ Fargo Bank currently services
the Mortgage Loans;
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, N.A., as master servicer (in
such capacity, the "Master Servicer") and as securities administrator (in such
capacity, the "Securities Administrator"), is entering into a Pooling and
Servicing Agreement, dated the date hereof (the "Pooling Agreement"), among
BAFC, the Master Servicer, the Securities Administrator and the Assignee,
pursuant to which the Master Servicer shall 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 the Purchase and Servicing Agreements,
and the mortgage loans delivered under such agreement by ▇▇▇▇▇ Fargo Bank to the
Assignor and listed on Exhibit A attached hereto (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 Purchase and Servicing Agreements other than the Mortgage Loans.
2. The Assignor warrants and represents to, and covenants with, BAFC and
the Assignee that:
a. The Assignor is the lawful owner of the Mortgage Loans with the
full right to transfer the Mortgage Loans free 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 ▇▇▇▇▇ Fargo Bank with
respect to the Purchase and Servicing 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 Purchase and Servicing
Agreements or the Mortgage Loans, including without limitation the transfer of
the servicing obligations under the Purchase and Servicing Agreements. 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 Purchase and Servicing 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 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
(the "33 Act") or which would render the disposition of the Mortgage Loans a
violation of Section 5 of the 33 Act or require registration pursuant thereto.
3. From and after the date hereof, ▇▇▇▇▇ Fargo Bank shall note the transfer
of the Mortgage Loans to the Assignee in its books and records, and ▇▇▇▇▇ Fargo
Bank shall recognize the Assignee as the owner of the Mortgage Loans.
Notwithstanding anything to the contrary contained in Section 9.01 of the MSWSA,
▇▇▇▇▇ Fargo Bank shall continue to service the Mortgage Loans pursuant to the
MSWSA, as modified by Section 7 of this Agreement, for the benefit of the
Assignee.
2
4. ▇▇▇▇▇ Fargo Bank hereby represents and warrants to each of the other
parties hereto (i) that the representations and warranties of ▇▇▇▇▇ Fargo Bank
in Section 3.01 of the MSWSA 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, (ii) that it has serviced the Mortgage Loans in
accordance with the terms of the MSWSA and (iii) that it has taken no action nor
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.
5. [Reserved]
6. In accordance with Sections 2.03 and 9.01 of the MSWSA, the Assignor
hereby instructs ▇▇▇▇▇ Fargo Bank, and ▇▇▇▇▇ Fargo Bank hereby agrees, to
release from its custody and deliver the Custodial Mortgage File (as defined in
the MSWSA) for each Mortgage Loan to the Assignee, or a custodian on its behalf
under the Pooling Agreement, at the address set forth in Section 8 herein on or
before the closing date of the related Securitization Transaction (as defined in
the MSWSA).
7. ▇▇▇▇▇ Fargo Bank, BAFC and the Assignee hereby agree to the following
modifications to the MSWSA:
a. Regarding the Regulation AB (as defined in the MSWSA) provisions set
forth in the MSWSA, ▇▇▇▇▇ Fargo Bank hereby agrees to comply with and
provide, as mutually agreed upon between ▇▇▇▇▇ Fargo Bank and the
Master Servicer, the information required by the Master Servicer in
order for the Master Servicer to agree to be obligated to file reports
with the Commission on behalf of the related trust.
b. Section 5.02. Section 5.02 is hereby modified to read as follows:
"Not later than the fifth (5th) Business Day of each month, the
Company shall furnish to the Purchaser (or any master servicer) a
delinquency report in the form set forth in Exhibit G-1, a monthly
remittance advice in the form set forth in Exhibit G-2, and a realized
loss report in the form set forth in Exhibit G-3, each in a mutually
agreeable electronic format, as to the remittance on such Remittance
Date and as to the period ending on the last day of the month
preceding such Remittance Date. The information required by Exhibit
G-1 is limited to that which is readily available to the Company and
is mutually agreed to by the Company and the Purchaser (or any master
servicer)."
The exhibits referenced in this Section 7 are attached to this
Agreement as Exhibit B hereto.
c. Section 6.04. Section 6.04 is hereby modified by deleting the
paragraph (i) in its entirety. In addition the phrases "the Purchaser
and any Depositor" and "the Purchaser and such Depositor" are deleted
and replaced with "the Master Servicer".
3
d. Section 6.05. Section 6.05 is hereby modified by deleting the last
sentence of such section in its entirety.
e. Section 6.06. Section 6.06 is hereby modified by deleting the pharses
"the Purchaser and any Depositor" and "the Purchaser and such
Depositor" are deleted and replaced with "the Master Servicer".
f. Section 10.01. Section 10.01(ii) is hereby modified by inserting the
following after the word "thirty":
"(or, in the case of any failure by the Company to perform its
obligations under Section 6.04 or Section 6.06, ten)"
g. For purposes of clarification, the Servicing Fee Rate is equal to
0.250% per annum.
8. The Assignee's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreements is:
U.S. Bank National Association
▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Structured Finance Trust Services, BAFC 2006-A
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
9. ▇▇▇▇▇ Fargo Bank shall remit all funds pursuant to the following wire
instructions:
▇▇▇▇▇ FARGO BANK, N.A.
ABA# ▇▇▇▇▇▇▇▇▇
FOR CREDIT TO: SAS CLEARING, ACCT: ▇▇▇▇▇▇▇▇▇▇
FFC TO: BAFC 2006-A # 50892300
10. ▇▇▇▇▇ Fargo Bank 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
▇▇▇▇▇ Fargo Bank, as they relate to the Mortgage Loans, under the Purchase and
Servicing Agreements. Such right will include, without limitation, the right to
exercise any and all rights of the Assignor (but not the obligations) under the
Purchase and Servicing Agreements to monitor and enforce the obligations of
▇▇▇▇▇ Fargo Bank thereunder, the right to terminate ▇▇▇▇▇ Fargo Bank under the
Agreement upon the occurrence of an event of default thereunder, the right to
receive all remittances required to be made by ▇▇▇▇▇
4
Fargo Bank under the Purchase and Servicing Agreements, the right to receive all
monthly reports and other data required to be delivered by ▇▇▇▇▇ Fargo Bank
under the Purchase and Servicing Agreements, the right to examine the books and
records of ▇▇▇▇▇ Fargo Bank, indemnification rights, and the right to exercise
certain rights of consent and approval relating to actions taken by ▇▇▇▇▇ Fargo
Bank.
[Signatures Follow]
5
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, U.S. Bank National Association, as
as Assignor Assignee
By: /s/ ▇▇▇▇▇ ▇. Good By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
---------------------------------- -----------------------------------
Name: ▇▇▇▇▇ ▇. Good Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President Title: Vice President
Banc of America Funding Corporation ▇▇▇▇▇ Fargo Bank, N.A., as servicer
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇ By: /s/ ▇▇▇▇ ▇▇▇▇▇▇
---------------------------------- -----------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇ Name: ▇▇▇▇ ▇▇▇▇▇▇
Title: Senior Vice President Title: Assistant Vice President
Acknowledged and Agreed as of the date first written above:
▇▇▇▇▇ Fargo Bank, N.A., as Master Servicer
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
----------------------------------
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Assistant Vice President
EXHIBIT A
Schedule of Mortgage Loans
A-1
EXHIBIT B
EXHIBIT G-1 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.
-----------------------------------------------------------------------------------------------------------
PROP_ADDRESS Street 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 MM/DD/YYYY
is due to the 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 MM/DD/YYYY
filed.
-----------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
has been approved by the courts
-----------------------------------------------------------------------------------------------------------
BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From MM/DD/YYYY
Bankruptcy. Either by Dismissal, Discharged
and/or a Motion For Relief Was Granted.
-----------------------------------------------------------------------------------------------------------
LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved MM/DD/YYYY
By The Servicer
-----------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Scheduled To End/Close
-----------------------------------------------------------------------------------------------------------
LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually MM/DD/YYYY
Completed
-----------------------------------------------------------------------------------------------------------
FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the MM/DD/YYYY
servicer with instructions to begin
foreclosure proceedings.
-----------------------------------------------------------------------------------------------------------
ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to MM/DD/YYYY
Pursue Foreclosure
-----------------------------------------------------------------------------------------------------------
FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in MM/DD/YYYY
a Foreclosure Action
-----------------------------------------------------------------------------------------------------------
B-1
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FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is MM/DD/YYYY
expected to occur.
-----------------------------------------------------------------------------------------------------------
FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY
-----------------------------------------------------------------------------------------------------------
FRCLSR_SALE_AMT The amount a property sold for at the 2 No commas(,) or
foreclosure sale. dollar signs ($)
-----------------------------------------------------------------------------------------------------------
EVICTION_START_DATE The date the servicer initiates eviction of MM/DD/YYYY
the borrower.
-----------------------------------------------------------------------------------------------------------
EVICTION_COMPLETED_DATE The date the court revokes legal possession MM/DD/YYYY
of the property from the borrower.
-----------------------------------------------------------------------------------------------------------
LIST_PRICE The price at which an REO property is 2 No commas(,) or
marketed. dollar signs ($)
-----------------------------------------------------------------------------------------------------------
LIST_DATE The date an REO property is listed at a MM/DD/YYYY
particular price.
-----------------------------------------------------------------------------------------------------------
OFFER_AMT The dollar value of an offer for an REO 2 No commas(,) or
property. dollar signs ($)
-----------------------------------------------------------------------------------------------------------
OFFER_DATE_TIME The date an offer is received by DA Admin MM/DD/YYYY
or by the Servicer.
-----------------------------------------------------------------------------------------------------------
REO_CLOSING_DATE The date the REO sale of the property is MM/DD/YYYY
scheduled to close.
-----------------------------------------------------------------------------------------------------------
REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY
-----------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
performed.
-----------------------------------------------------------------------------------------------------------
APPRAISAL_DATE The date the appraisal was done. MM/DD/YYYY
-----------------------------------------------------------------------------------------------------------
CURR_PROP_VAL The current "as is" value of the property 2
based on brokers price opinion or appraisal.
-----------------------------------------------------------------------------------------------------------
REPAIRED_PROP_VAL The amount the property would be worth if 2
repairs are 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 MM/DD/YYYY
With Mortgage Insurance Company.
-----------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,) or
dollar signs ($)
-----------------------------------------------------------------------------------------------------------
MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed MM/DD/YYYY
Claim Payment
-----------------------------------------------------------------------------------------------------------
MI_CLAIM_AMT_PAID Amount Mortgage Insurance Company Paid On 2 No commas(,) or
Claim dollar signs ($)
-----------------------------------------------------------------------------------------------------------
POOL_CLAIM_FILED_DATE Date Claim Was Filed With Pool Insurance MM/DD/YYYY
Company
-----------------------------------------------------------------------------------------------------------
POOL_CLAIM_AMT Amount of Claim Filed With Pool Insurance 2 No commas(,) or
Company dollar signs ($)
-----------------------------------------------------------------------------------------------------------
POOL_CLAIM_PAID_DATE Date Claim Was Settled and The Check Was MM/DD/YYYY
Issued By The Pool Insurer
-----------------------------------------------------------------------------------------------------------
B-2
-----------------------------------------------------------------------------------------------------------
POOL_CLAIM_AMT_PAID Amount Paid On Claim By Pool Insurance 2 No commas(,) or
Company dollar signs ($)
-----------------------------------------------------------------------------------------------------------
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 MM/DD/YYYY
Admin
-----------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim MM/DD/YYYY
Payment
-----------------------------------------------------------------------------------------------------------
VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or
dollar signs ($)
-----------------------------------------------------------------------------------------------------------
B-3
EXHIBIT G-1: 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
B-4
EXHIBIT G-1: 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
------------------------------------------------------------
B-5
EXHIBIT G-1: 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
--------------------------------------------------------
B-6
EXHIBIT G-2: STANDARD FILE LAYOUT - SCHEDULED/SCHEDULED
--------------------------------------------------------------------------------------------------------------------
COLUMN NAME DESCRIPTION DECIMAL FORMAT COMMENT MAX
SIZE
--------------------------------------------------------------------------------------------------------------------
SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20
define a group of loans.
--------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan Text up to 10 digits 10
by 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 Maximum length of 30 (Last, 30
file. It is not separated by first and First)
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. ($)
--------------------------------------------------------------------------------------------------------------------
NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs 11
by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
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 4 Max length of 6 6
calculate a forecasted rate.
--------------------------------------------------------------------------------------------------------------------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the beginning of the processing cycle. ($)
--------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs 11
at the end of the processing cycle. ($)
--------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10
that the borrower's next payment is due
to the Servicer, as reported by Servicer.
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10
first curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10
second curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11
applied. ($)
--------------------------------------------------------------------------------------------------------------------
B-7
--------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10
third curtailment amount.
--------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs 11
curtailment amount, if applicable. ($)
--------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10
Servicer.
--------------------------------------------------------------------------------------------------------------------
ACTION_CODE The standard FNMA numeric code used to Action Code Key: 2
indicate the default/delinquent status of 15=Bankruptcy, 30=Foreclosure,
a particular loan. 60=PIF, 63=Substitution,
65=Repurchase, 70=REO
--------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs 11
reported by the Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, 2 No commas(,) or dollar signs 11
if 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. ($)
--------------------------------------------------------------------------------------------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs 11
amount due at the beginning of the cycle ($)
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 ($)
cycle.
--------------------------------------------------------------------------------------------------------------------
SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11
reported by the Servicer for the current ($)
cycle -- only applicable for
Scheduled/Scheduled Loans.
--------------------------------------------------------------------------------------------------------------------
SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs 11
the service fee amount for the current ($)
cycle as reported by the Servicer -- only
applicable for Scheduled/Scheduled Loans.
--------------------------------------------------------------------------------------------------------------------
ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs 11
the Servicer for the current reporting ($)
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 ($)
reporting cycle as reported by the
Servicer -- only applicable for
Actual/Actual Loans.
--------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11
borrower prepays on his loan as reported ($)
by the Servicer.
--------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs 11
loan waived by the servicer. ($)
--------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10
Modification for the loan.
--------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha 30
or numeric
--------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs 11
interest advances made by Servicer. ($)
--------------------------------------------------------------------------------------------------------------------
B-8
EXHIBIT G-3: CALCULATION OF REALIZED LOSS/GAIN FORM 332- INSTRUCTION SHEET
The numbers on the 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. All line entries must be supported by copies
of appropriate statements, vouchers, receipts, bills, canceled checks,
etc., to document the expense. Entries not properly documented will
not be reimbursed to the Servicer.
13. The total of lines 1 through 12.
Credits:
14-21. Complete as applicable. All line entries must be supported by copies
of the appropriate claims forms, EOBs, HUD-1 and/or other proceeds
verification, statements, payment checks, etc. to document the credit.
If the Mortgage Loan is subject to a Bankruptcy Deficiency, the
difference between the Unpaid Principal Balance of the Note prior to
the Bankruptcy Deficiency and the Unpaid Principal Balance as reduced
by the Bankruptcy Deficiency should be input on line 20.
22. The total of lines 14 through 21.
Please note: For HUD/VA loans, use line (15) for Part A/Initial proceeds
and line (16) 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 ( ).
B-9
EXHIBIT G-3: CALCULATION OF REALIZED LOSS/GAIN FORM 332
▇▇▇▇▇ FARGO BANK, N.A.
CALCULATION OF REALIZED LOSS/GAIN
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 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 _________________(5)
(6) Property Maintenance _________________(6)
(7) MI/Hazard Insurance Premiums _________________(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 _______________________________ ________________
HOA/Condo Fees ______________________________ ________________
_____________________________________________ ________________
_____________________________________________ ________________
TOTAL EXPENSES $_______________(13)
CREDITS:
(14) Escrow Balance $_______________(14)
(15) HIP Refund ________________(15)
B-10
(16) Rental Receipts ________________(16)
(17) Hazard Loss Proceeds ________________(17)
(18) Primary Mortgage Insurance Proceeds ________________(18)
(19) Pool Insurance Proceeds ________________(19)
(20) Proceeds from Sale of Acquired Property ________________(20)
(21) Other (itemize) ________________(21)
________________________________________________ ________________
________________________________________________ ________________
TOTAL CREDITS $_______________(22)
TOTAL REALIZED LOSS (OR AMOUNT OF GAIN) $_______________(23)
B-11
APPENDIX I
Purchase and Servicing Agreements
[Attached hereto]