EXHIBIT 10.3(G)
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EXECUTION COPY
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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement (the "Agreement"), dated
January 31, 2007, 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, not in its individual capacity, but solely as trustee of
the Banc of America Funding 2007-A Trust ("Assignee"), ▇▇▇▇▇ Fargo Bank, N.A., a
national banking association ("▇▇▇▇▇ Fargo Bank"), as master servicer of the
Banc of America Funding 2007-A Trust and National City Mortgage Co., an Ohio
corporation ("National City Mortgage").
WHEREAS, pursuant to that certain Master Seller's Warranties and Servicing
Agreement, dated as of September 1, 2003, by and between Assignor (as successor
in interest to Banc of America Mortgage Capital Corporation ("BAMCC")), as
purchaser, and National City Mortgage, as seller, as amended by that certain
Amendment No. 1, dated as of July 1, 2004, by and among BAMCC, National City
Mortgage and the Assignor, that certain Master Assignment, Assumption and
Recognition Agreement, dated as of July 1, 2004, by and among BAMCC, National
City Mortgage, the Assignor and Wachovia Bank, National Association, that
certain Amendment No. 2, dated as of October 1, 2004, by and between National
City Mortgage and the Assignor, that certain Amendment No. 3, dated as of August
11, 2005, by and between National City Mortgage and the Assignor, that certain
Regulation AB Compliance Addendum to the Master Seller's Warranties and
Servicing Agreement, dated as of January 1, 2006, by and between National City
Mortgage and the Assignor, and that certain Assignment and Conveyance Agreement,
dated as December 31, 2006, by and between National City Mortgage and the
Assignor (collectively, the "Purchase and Servicing Agreement"), each of which
is attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as
defined herein) from National City Mortgage and National City Mortgage 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, 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 (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 the Purchase and
Servicing Agreement, and the mortgage loans delivered under such agreement by
National City Mortgage to the Assignor and listed on Exhibit A attached hereto
(the "Mortgage Loans").
1. 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 Agreement 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 National City
Mortgage with respect to the Purchase and Servicing Agreement 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
Agreement or the Mortgage Loans, including without limitation the
transfer of the servicing obligations under the Purchase and Servicing
Agreement. 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 Agreement 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, as amended (the "Securities Act"), or which
would render the disposition of the Mortgage Loans a violation of
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Section 5 of the Securities Act or require registration pursuant
thereto.
3. From and after the date hereof, National City Mortgage shall (i)
note the transfer of the Mortgage Loans to the Assignee in its books and
records, (ii) recognize the Assignee as the owner of the Mortgage Loans and
(iii) notwithstanding anything to the contrary contained in Section 7.01 of
the Purchase and Servicing Agreement, continue to service the Mortgage
Loans pursuant to the Purchase and Servicing Agreement (including but not
limited to those provisions related to sales and reconstitutions of
mortgage loans and all provisions related to Regulation AB compliance,
including servicer- and originator-related provisions), as modified by
Section 10 hereof.
4. National City Mortgage acknowledges that a REMIC election will 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 Purchase and Servicing Agreement. The Master
Servicer shall be authorized to enforce directly against National City
Mortgage any of the obligations of National City Mortgage to the Assignor
or its assignees provided for in the Purchase and Servicing Agreement
including, without limitation, the right to exercise any and all rights of
the Assignor (but not the obligations) under the Purchase and Servicing
Agreement to monitor and enforce the obligations of National City Mortgage
thereunder, the right to terminate National City Mortgage under the
Purchase and Servicing Agreement upon the occurrence of an event of default
thereunder, the right to receive all remittances required to be made by
National City Mortgage under the Purchase and Servicing Agreement, the
right to receive all monthly reports and other data required to be
delivered by National City Mortgage under the Purchase and Servicing
Agreement, the right to examine the books and records of National City
Mortgage, indemnification rights, and the right to exercise certain rights
of consent and approval relating to actions taken by National City
Mortgage. All remittances by National City Mortgage shall be made to the
account or accounts designated by the Master Servicer to National City
Mortgage 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-A # 50979400.
5. National City Mortgage hereby represents and warrants to each of
the other parties hereto (i) that the representations and warranties of
National City Mortgage in Sections 3.01 and 3.02 of the Purchase and
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, (ii) that it has serviced the Mortgage Loans
in accordance with the terms of the Purchase and Servicing Agreement, (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 and (iv) that any information provided
by it on or before the date hereof to any of the parties hereto is true and
correct in all material respects.
6. National City Mortgage hereby agrees that, in connection with each
Mortgage Loan of which the related Mortgage has been recorded in the name
of MERS or its designee, it shall take all actions as are necessary to
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cause the Assignee, as trustee of the Trust pursuant to the Pooling
Agreement, to be shown as the owner of such Mortgage Loan on the records of
MERS for purposes of the system of recording transfers of beneficial
ownership of mortgages maintained by MERS.
7. In accordance with Sections 2.01 and 7.01 of the Purchase and
Servicing Agreement, the Assignor hereby instructs National City Mortgage,
and National City Mortgage hereby agrees, to release from its custody and
deliver the contents of the Mortgage File (as defined in the Purchase and
Servicing Agreement) for each Mortgage Loan to the Assignee, in its
capacity as custodian under the Pooling Agreement, at the address set forth
in Section 11 hereof on or before the closing date of the related
Pass-Through Transfer (as defined in the Purchase and Servicing Agreement).
8. National City Mortgage hereby agrees that any repurchase or
substitution of a Mortgage Loan pursuant to Section 3.03 of the Purchase
and Servicing Agreement will be done so in accordance with the provisions
set forth in Section 2.02 of the Pooling Agreement.
9. National City Mortgage, BAFC and the Assignee hereby agree to the
following modifications to the Purchase and Servicing Agreement solely with
respect to the Mortgage Loans:
a. Article I. The definition of "Qualified Substitute Mortgage Loan"
is hereby replaced in its entirety with the following:
"A mortgage loan eligible to be substituted by the Company for a
Deleted Mortgage Loan which must, on the date of such
substitution be approved by the Purchaser and (i) have an
outstanding principal balance, after deduction of all scheduled
payments due in the month of substitution (or in the case of a
substitution of more than one mortgage loan for a Deleted
Mortgage Loan, an aggregate principal balance), not in excess of
the Stated Principal Balance of the Deleted Mortgage Loan; (ii)
have a Mortgage Loan Remittance Rate not less than, and not more
than 2% greater than the Mortgage Loan Remittance Rate of the
Deleted Mortgage Loan; (iii) have a remaining term to maturity
not greater than and not more than one year less than that of the
Deleted Mortgage Loan; (iv) comply with each representation and
warranty set forth in Sections 3.01 and 3.02; (v) be of the same
type as the Deleted Mortgage Loan; (vi) have a FICO score not
less than that of the Deleted Mortgage Loan, (vii) have an LTV
not greater than that of the Deleted Mortgage Loan; (viii) have a
credit grade not lower in quality than that of the Deleted
Mortgage Loan and (ix) have the same lien status as the Deleted
Mortgage Loan."
b. Article I. The definition of "Remittance Date" is hereby replaced
in its entirety with the following:
"The 18th day of any month (or if such 18th day is not a Business
Day, the immediately preceding Business Day)."
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c. Article I. The definition of "Servicing Fee Rate" is hereby
replaced in its entirety with the following:
"With respect to each Mortgage Loan, 0.250% per annum."
d. Section 3.02. Section 3.02(mm) is hereby amended by replacing
"Glossary Version 5.6" with "Glossary Version 5.7 (or the
now-current version thereof)."
e. Section 3.02(uu). Section 3.02(uu) is hereby replaced in its
entirety with the following:
"(uu) Leaseholds. If the Mortgage Loan is secured by a long-term
residential lease, (1) the lessor under the lease holds a fee
simple interest in the land; (2) the terms of such lease
expressly permit the mortgaging of the leasehold estate, the
assignment of the lease without the lessor's consent and the
acquisition by the holder of the Mortgage of the rights of the
lessee upon foreclosure or assignment in lieu of foreclosure or
provide the holder of the Mortgage with substantially similar
protections; (3) the terms of such lease do not (a) allow the
termination thereof upon the lessee's default without the holder
of the Mortgage being entitled to receive written notice of, and
opportunity to cure, such default, (b) allow the termination of
the lease in the event of damage or destruction as long as the
Mortgage is in existence, (c) prohibit the holder of the Mortgage
from being insured (or receiving proceeds of insurance) under the
hazard insurance policy or policies relating to the Mortgaged
Property or (d) permit any increase in the rent other than
pre-established increases set forth in the lease; (4) the
original term of such lease is not less than 15 years; (5) the
term of such lease does not terminate earlier than five years
after the maturity date of the Mortgage Note; and (6) the
Mortgaged Property is located in a jurisdiction in which the use
of leasehold estates in transferring ownership in residential
properties is a widely accepted practice;"
f. Section 5.01. The second paragraph of Section 5.01 is modified to
delete the phrase "the second Business Day following" in the
first and second line, to delete the word "second" occurring
before the phrase "Business Day" in the second sentence, and to
insert the phrase "on which such payment was due" after the first
occurrence of the phrase "Business Day" in the second sentence.
g. Section 5.02. The second paragraph of 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 a delinquency report in
the form set forth in Exhibit E-1, a monthly remittance advice in
the form set forth in Exhibit E-2, and a realized loss report in
the form set forth in Exhibit E-3, each in a mutually agreeable
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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 exhibits referenced in this Section 9(g) are attached to this
Agreement as Exhibit B hereto.
h. For purposes of clarification, the Company is not obligated under
the Purchase and Servicing Agreement to advance the amount of any
reduction in a Mortgagor's monthly payment due to the operation
of the Servicemembers Civil Relief Act.
i. Article VI. Article VI is hereby amended by adding a new Section
6.11 as follows:
Section 6.11 Compliance with REMIC Provisions.
If a REMIC election has been made with respect to the
arrangement under which the Mortgage Loans and REO Property are
held, the Company shall not take any action, cause the REMIC to
take any action or fail to take (or fail to cause to be taken)
any action that, under the REMIC Provisions, if taken or not
taken, as the case may be, could (i) endanger the status of the
REMIC as a REMIC or (ii) result in the imposition of a tax upon
the REMIC (including but not limited to the tax on "prohibited
transactions" as defined in Section 860F(a) (2) of the Code and
the tax on "contributions" to a REMIC set forth in Section
860G(d) of the Code) unless the Company has received an Opinion
of Counsel (at the expense of the party seeking to take such
action) to the effect that the contemplated action will not
endanger such REMIC status or result in the imposition of any
such tax.
10. Notwithstanding any provision in this Agreement to the contrary,
it is understood that National City Mortgage is not released from liability
to the Assignor for any breaches of any representations, warranties or
covenants made by National City Mortgage in the Purchase and Servicing
Agreement prior to the date hereof regardless of when such breaches are
discovered or made known.
11. The Assignee's address for purposes of all notices and
correspondence related to the Mortgage Loans and the Purchase and Servicing
Agreement is:
U.S. Bank National Association
▇▇▇ ▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Structured Finance Trust Services, BAFC 2007-A
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The Assignor's address for purposes of all notices and correspondence
related to the Mortgage Loans and the Purchase and Servicing Agreement 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
▇▇▇▇▇ 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 2007-1
12. 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 Purchase and Servicing 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.
[Signatures Follow]
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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,
Assignor
By: /s/ ▇▇▇▇▇ ▇. Good
-------------------------------------
Name: ▇▇▇▇▇ ▇. Good
Title: Vice President
U.S. Bank National Association,
Assignee
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
Banc of America Funding Corporation
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇
-------------------------------------
Name: ▇▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
National City Mortgage Co.
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇
-------------------------------------
Name: ▇▇▇▇▇▇▇ ▇▇▇▇
Title: Assistant 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
EXHIBIT A
Schedule of Mortgage Loans
[Please see the Free Writing Prospectus filed and accepted by the Securities and
Exchange commission on January 31, 2007 and accession number
0001379402-07-000012.]
A-1
EXHIBIT B
Exhibit E-1 Standard File Layout - Delinquency Reporting
*The column/header names in bold are the minimum fields ▇▇▇▇▇ Fargo must receive
from every Servicer
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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
---------------------------------- -------------------------------------------------------------- ----------- ----------------
A-1
---------------------------------- -------------------------------------------------------------- ----------- ----------------
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
---------------------------------- -------------------------------------------------------------- ----------- ----------------
OCCUPANT_CODE Classification of how the property is occupied.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
PROP_CONDITION_CODE A code that in 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 ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
---------------------------------- -------------------------------------------------------------- ----------- ----------------
MOTION_FOR_RELIEF_DATE The date the Motion for Relief was filed 10 MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_BID_AMT The foreclosure sale bid amount 11 No commas(,)
or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
FRCLSR_SALE_TYPE The foreclosure sales results: REO, Third Party, Conveyance
to HUD/VA
---------------------------------- -------------------------------------------------------------- ----------- ----------------
A-1
---------------------------------- -------------------------------------------------------------- ----------- ----------------
REO_PROCEEDS The net proceeds from the sale of the REO property. No commas(,)
or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
BPO_DATE The date the BPO was done.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
CURRENT_BPO_VAL The current "as is" value of th property based on a brokers
price opinion.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
REPAIRED_BPO_PROP_VAL The amount the property would be worth if repairs are
completed pursuant to a broker's price opinion.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
CURR_APP_VAL The current "as is" value of the property based on an 11 No commas(,)
appraisal. or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
CURRENT_FICO The current FICO score
---------------------------------- -------------------------------------------------------------- ----------- ----------------
HAZARD_CLAIM_FILED_DATE The date the Hazard Claim was filed with the Hazard 10 MM/DD/YYYY
Insurance Company.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
HAZARD_CLAIM_AMT The amount of the Hazard Insurance Claim filed. 11 No commas(,)
or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
HAZARD_CLAIM_PAID_DATE The date the Hazard Insurance Company disbursed the claim 10 MM/DD/YYYY
payment.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
HAZARD_CLAIM_PAID_AMT The amount the Hazard Insurance Company paid on the claim. 11 No commas(,)
or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_FILED_DATE The date the claim was filed with the Pool Insurance Company. 10 MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_AMT The amount of the claim filed with the Pool Insurance 11 No commas(,)
Company. or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_PAID_DATE The date the claim was settled and the check was issued by 10 MM/DD/YYYY
the Pool Insurer.
---------------------------------- -------------------------------------------------------------- ----------- ----------------
POOL_CLAIM_AMT_PAID The amount paid on the claim by the Pool Insurance Company. 11 No commas(,)
or dollar
signs ($)
---------------------------------- -------------------------------------------------------------- ----------- ----------------
FORECLOSURE_FLAG Y or N Text
---------------------------------- -------------------------------------------------------------- ----------- ----------------
BANKRUPTCY_FLAG Y or N Text
---------------------------------- -------------------------------------------------------------- ----------- ----------------
NOD_DATE MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
MI_CLAIM_DATE Date Mortgage Insurance is filed MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
NOI_DATE MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
ACTUAL_PAYMENT_PLAN_START_DATE MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
ACTUAL_PAYMENT_ PLAN_END_DATE
---------------------------------- -------------------------------------------------------------- ----------- ----------------
LIST_DATE MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
VACANCY/OCCUPANCY_STATUS The Occupancy status of the defaulted loan's collateral Text
---------------------------------- -------------------------------------------------------------- ----------- ----------------
ACTUAL_REO_START_DATE MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
SALES_PRICE Number
---------------------------------- -------------------------------------------------------------- ----------- ----------------
UPB_LIQUIDATION Outstanding Pricipal Balance of the loan upon Liquidation Number
---------------------------------- -------------------------------------------------------------- ----------- ----------------
REALIZED_LOSS/GAIN As defined in the Servicing Agreement Number
---------------------------------- -------------------------------------------------------------- ----------- ----------------
LIQUIDATION_PROCEEDS Number
---------------------------------- -------------------------------------------------------------- ----------- ----------------
PREPAYMENT_CHARGES_COLLECTED The amount of Prepayment Charges received Number
---------------------------------- -------------------------------------------------------------- ----------- ----------------
A-1
PREPAYMENT_CALCULATION The formula behind the prepayment charge Text
---------------------------------- -------------------------------------------------------------- ----------- ----------------
PAYOFF_DATE The date on which the loan was paid off MM/DD/YYYY
---------------------------------- -------------------------------------------------------------- ----------- ----------------
A-1
Exhibit E-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
A-1
Exhibit E-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
------------------------ ---------------------------------------------------------
A-1
Exhibit E-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
------------------------ -------------------------------------------------------
A-1
Exhibit E-2: Standard File Layout - Scheduled/Scheduled
-----------------------------------------------------------------------------------------------------------------------------------
Column Name Description Decimal Format Comment Max Size
-----------------------------------------------------------------------------------------------------------------------------------
SER_INVESTOR_NBR A value assigned by the Servicer to define a group Text up to 10 digits 20
of loans.
-----------------------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan by the Text up to 10 digits 10
investor.
-----------------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled monthly principal and scheduled interest 2 No commas(,) or dollar signs ($) 11
payment that a borrower is expected to pay, P&I
constant.
-----------------------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan interest rate as reported by the Servicer. 4 Max length of 6 6
-----------------------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross interest rate less the service fee 4 Max length of 6 6
rate as reported by the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_RATE The servicer's fee rate for a loan as reported by 4 Max length of 6 6
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_AMT The servicer's fee amount for a loan as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
NEW_PAY_AMT The new loan payment amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
NEW_LOAN_RATE The new loan rate as reported by the Servicer. 4 Max length of 6 6
-----------------------------------------------------------------------------------------------------------------------------------
ARM_INDEX_RATE The index the Servicer is using to calculate a 4 Max length of 6 6
forecasted rate.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_BEG_PRIN_BAL The borrower's actual principal balance at the 2 No commas(,) or dollar signs ($) 11
beginning of the processing cycle.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's actual principal balance at the end 2 No commas(,) or dollar signs ($) 11
of the processing cycle.
-----------------------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle that the MM/DD/YYYY 10
borrower's next payment is due to the Servicer, as
reported by Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_1 The first curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The curtailment date associated with the first MM/DD/YYYY 10
curtailment amount.
-----------------------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_1 The curtailment interest on the first curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_2 The curtailment date associated with the second MM/DD/YYYY 10
curtailment amount.
-----------------------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_2 The curtailment interest on the second curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third curtailment amount to be applied. 2 No commas(,) or dollar signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_3 The curtailment date associated with the third MM/DD/YYYY 10
curtailment amount.
-----------------------------------------------------------------------------------------------------------------------------------
CURT_ADJ_AMT_3 The curtailment interest on the third curtailment 2 No commas(,) or dollar signs ($) 11
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan "paid in full" amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
PIF_DATE The paid in full date as reported by the Servicer. MM/DD/YYYY 10
-----------------------------------------------------------------------------------------------------------------------------------
ACTION_CODE The standard FNMA numeric code used to indicate Action Code Key: 15=Bankruptcy, 2
the default/delinquent status of a particular 30=Foreclosure, , 60=PIF,
loan. 63=Substitution, 65=Repurchase,70=REO
-----------------------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of the interest adjustment as reported by 2 No commas(,) or dollar signs ($) 11
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment amount, if 2 No commas(,) or dollar signs ($) 11
applicable.
-----------------------------------------------------------------------------------------------------------------------------------
NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if applicable. 2 No commas(,) or dollar signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
LOAN_LOSS_AMT The amount the Servicer is passing as a loss, if 2 No commas(,) or dollar signs ($) 11
applicable.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_BEG_PRIN_BAL The scheduled outstanding principal amount due at 2 No commas(,) or dollar signs ($) 11
the beginning of the cycle date to be passed through
to investors.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_END_PRIN_BAL The scheduled principal balance due to investors at 2 No commas(,) or dollar signs ($) 11
the end of a processing cycle.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_PRIN_AMT The scheduled principal amount as reported by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current cycle -- only applicable
for Scheduled/Scheduled Loans.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_NET_INT The scheduled gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current cycle as reported by
the Servicer -- only applicable for
Scheduled/Scheduled Loans.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_PRIN_AMT The actual principal amount collected by the 2 No commas(,) or dollar signs ($) 11
Servicer for the current reporting cycle -- only
applicable for Actual/Actual Loans.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_NET_INT The actual gross interest amount less the service 2 No commas(,) or dollar signs ($) 11
fee amount for the current reporting cycle as
reported by the Servicer -- only applicable for
Actual/Actual Loans.
-----------------------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ AMT The penalty amount received when a borrower prepays 2 No commas(,) or dollar signs ($) 11
on his loan as reported by the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the loan waived by 2 No commas(,) or dollar signs ($) 11
the servicer.
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
MOD_DATE The Effective Payment Date of the Modification for MM/DD/YYYY 10
the loan.
-----------------------------------------------------------------------------------------------------------------------------------
MOD_TYPE The Modification Type. Varchar - value can be alpha or numeric 30
-----------------------------------------------------------------------------------------------------------------------------------
DELINQ_P&I_ADVANCE_AMT The current outstanding principal and interest 2 No commas(,) or dollar signs ($) 11
advances made by Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
Exhibit E-3: 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.
13.
14. 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.
15. 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 ( ).
Exhibit E-3: 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
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
---------------- ------------- ---------------- ------------- --------------- ---------------- --------------
APPENDIX I
Underlying Agreements
[Included as Exhibits 10.2(A) through (F) to the Current Report on Form 8-K
pursuant to which this Assignment, Assumption and Recognition Agreement is
filed.]