EX-99 6 ex99-3.txt EXHIBIT 99.3 Exhibit 99.3 April 1, 2005 Colonial Savings, F.A. 2626 West Freeway Fort Worth, Texas 76702 Attention: F. Allen Maulsby Reference is made to that certain Correspondent Servicing Agreement, dated as of June 26, 2002 (the "Servicing Agreement") annexed as Exhibit C, by and between the Colonial Savings, F.A. (the "Servicer"), Lehman Brothers Bank, FSB (the "Bank") and Aurora Loan Services LLC. (the "Master Servicer"). This notice constitutes a "Transfer Notice" as contemplated by Section 7.01 of the Servicing Agreement. Capitalized terms used herein without definition and defined in the Servicing Agreement are used herein as defined therein. Reference is also made to that certain Assignment and Assumption Agreement, dated as of April 1, 2005 (the "Assignment") annexed as Exhibit A, by and between the Bank and Lehman Brothers Holdings Inc. (the "Owner") pursuant to which the Owner acquired from the Bank all of the Bank's right, title and interest in and to certain of the Mortgage Loans currently serviced under the Servicing Agreement and assumed for the benefit of the Servicer and the Bank the rights and obligations of the Bank as owner of such Mortgage Loans pursuant to the Servicing Agreement. Exhibits D-1 and D-2 hereto shall supercede Exhibits C-1 and C-2 to the Servicing Agreement. The Servicer is hereby notified that the Owner has effected a Reconstitution with respect to the mortgage loans listed on the attached schedule (the "Mortgage Loans"). The Servicer is hereby advised of the following with respect to such Reconstitution and the related Mortgage Loans: Effective Date of Reconstitution: April 1, 2005 Cut-Off Date: April 1, 2005 New Owner: Wells Fargo Bank, National Association, as trustee for the Structured Adjustable Rate Mortgage Loan Trust, Series 2005-11 Certificateholders Master Servicer: Aurora Loan Services LLC The Servicer is also hereby advised that a REMIC election has been made with respect to the Mortgage Loans subject to the Reconstitution. By countersigning this notice and returning it to the Master Servicer named above, the Servicer hereby acknowledges and agrees that, from and after the Effective Date, the Servicer shall service the Mortgage Loans in accordance with the terms of the Servicing Agreement for the benefit of the New Owner named above, as the Owner of the Mortgage Loans. From and after the Effective Date, the New Owner named above shall have the same rights under the Servicing Agreement as the Initial Owner named therein with respect to the Mortgage Loans. 1 In addition to the terms and conditions set forth in the Servicing Agreement, the Servicer hereby acknowledges and agrees that on or before the last day of February of each year, beginning with February 28, 2006, the Servicer, at its own expense, will deliver to the Owner and the Master Servicer a Servicing Officer's certificate stating, as to each signer thereof, that (i) a review of the activities of the Servicer during such preceding fiscal year and of performance under this Agreement has been made under such officers' supervision and (ii) to the best of such officers' knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement for such year, or, if there has been a default in the fulfillment of all such obligations, specifying each such default known to such officer and the nature and status thereof including the steps being taken by the Servicer to remedy such default. For so long as a certificate under the Sarbanes-Oxley Act of 2002, as amended, ("Sarbanes-Oxley") is required to be given on behalf of Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2005-11 (the "Trust Fund,") no later than March 15th of each year (or if not a Business Day, the immediately preceding Business Day), or at any other time that the Master Servicer, Structured Asset Securities Corporation (the "Depositor") or Wells Fargo Bank, National Association (the "Trustee") provides a certification pursuant to Sarbanes-Oxley and upon thirty (30) days written request of such parties, an officer of the Servicer shall execute and deliver an Officer's Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit B hereto. [SIGNATURE PAGE IMMEDIATELY FOLLOWS] 2 LEHMAN BROTHERS HOLDINGS INC., as Owner By:__________________________________ Name: Ellen Kiernan Title: Authorized Signatory Acknowledged by: COLONIAL SAVINGS, F.A., as Servicer By:_______________________________ Name: Cary Adams Title: Senior Vice President EXHIBIT A [INTENTIONALLY OMITTED] A-1 EXHIBIT B Structured Asset Securities Corporation 745 Seventh Avenue, 7th Floor New York, New York 10019 Aurora Loan Services LLC 2530 South Parker Road Suite 601 Aurora, Colorado 80014 Re: Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2005-11 Reference is made to the Transfer Notice, dated as of April 1, 2005 (the "Notice"), by and among Lehman Brothers Holdings Inc., as owner and Colonial Savings, F.A., as servicer (the "Servicer"). I, [identify the certifying individual], a [title] of the Servicer, hereby certify to Wells Fargo Bank, National Association, as trustee (the "Trustee"), Aurora Loan Services LLC, as master servicer (the "Master Servicer") and Structured Asset Securities Corporation, as depositor (the "Depositor"), and their respective officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that: 1. I have reviewed the information required to be delivered to the Master Servicer pursuant to the Servicing Agreement (the "Servicing Information"); 2. Based on my knowledge, the Servicing Information does not contain any material untrue information or omit to state information necessary to make the Servicing Information, in light of the circumstances under which such information was provided, not misleading as of the date of this certification; 3. Based on my knowledge, the Servicing Information has been provided to the Master Servicer when and as required under the Servicing Agreement; 4. I am responsible for reviewing the activities performed by the Servicer under the Servicing Agreement, and based upon the review required thereunder, and except as disclosed in writing to you on or prior to the date of this certification ( a copy of which disclosure is attached hereto), the Servicer has, as of the date of this certification, fulfilled its obligations under this Servicing Agreement; and B-1 5. I have disclosed to the accountants conducting the annual review required under Section 6.05 of the Servicing Agreement all significant deficiencies relating to the Servicer's compliance with the Servicing Agreement. COLONIAL SAVINGS, F.A. Name: ____________________________ Title: ____________________________ Date: ____________________________ B-2 EXHIBIT C (See Exhibit 99.5) C-1 EXHIBIT D-1 FORM OF MONTHLY REMITTANCE ADVICE
FIELD NAME DESCRIPTION FORMAT ---------- ----------- ------ INVNUM INVESTOR LOAN NUMBER Number no decimals SERVNUM SERVICER LOAN NUMBER, REQUIRED Number no decimals BEGSCHEDBAL BEGINNING SCHEDULED BALANCE FOR SCHED/SCHED Number two decimals BEGINNING TRAIL BALANCE FOR ACTUAL/ACTUAL, REQUIRED SCHEDPRIN SCHEDULED PRINCIPAL AMOUNT FOR SCHEDULED/SCHEDULED Number two decimals ACTUAL PRINCIPAL COLLECTED FOR ACTUAL/ACTUAL, REQUIRED, .00 IF NO COLLECTIONS CURT1 CURTAILMENT 1 AMOUNT, .00 IF NOT APPLICABLE Number two decimals CURT1DATE CURTAILMENT 1 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY CURT1ADJ CURTAILMENT 1 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals CURT2 CURTAILMENT 2 AMOUNT, .00 IF NOT APPLICABLE Number two decimals CURT2DATE CURTAILMENT 2 DATE, BLANK IF NOT APPLICABLE DD-MMM-YY CURT2ADJ CURTAILMENT 2 ADJUSTMENT, .00 IF NOT APPLICABLE Number two decimals LIQPRIN PAYOFF, LIQUIDATION PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals OTHPRIN OTHER PRINCIPAL, .00 IF NOT APPLICABLE Number two decimals PRINREMIT TOTAL PRINCIPAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals INTREMIT NET INTEREST REMIT, INCLUDE PAYOFF INTEREST, Number two decimals .00 IF NOT APPLICABLE TOTREMIT TOTAL REMITTANCE AMOUNT, .00 IF NOT APPLICABLE Number two decimals ENDSCHEDBAL ENDING SCHEDULED BALANCE FOR SCHEDULED/SCHEDULED Number two decimals ENDING TRIAL BALANCE FOR ACTUAL/ACTUAL .00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF ENDACTBAL ENDING TRIAL BALANCE Number two decimals .00 IF PAIDOFF, LIQUIDATED OR FULL CHARGEOFF ENDDUEDATE ENDING ACTUAL DUE DATE, NOT LAST PAID INSTALLMENT DD-MMM-YY ACTCODE 60 IF PAIDOFF, BLANK IF NOT APPLICABLE Number no decimals ACTDATE ACTUAL PAYOFF DATE, BLANK IF NOT APPLICABLE DD-MMM-YY INTRATE INTEREST RATE, REQUIRED Number seven decimals Example .0700000 for 7.00% SFRATE SERVICE FEE RATE, REQUIRED Number seven decimals
D-1-1 Example .0025000 for .25% PTRATE PASS THRU RATE, REQUIRED Number seven decimals Example .0675000 for 6.75% PIPMT P&I CONSTANT, REQUIRED Number two decimals .00 IF PAIDOFF
D-1-2 Exhibit D-2 STANDARD LAYOUT FOR MONTHLY DEFAULTED LOAN REPORT
----------------------------------------------------------------------------------------------------------------------------------- Data Field Format Data Description ----------------------------------------------------------------------------------------------------------------------------------- % of MI coverage NUMBER(6,5) The percent of coverage provided by the PMI company in the event of loss on a defaulted loan. ----------------------------------------------------------------------------------------------------------------------------------- Actual MI claim filed date DATE(MM/DD/YYYY) Actual date that the claim was submitted to the PMI company. ----------------------------------------------------------------------------------------------------------------------------------- Actual bankruptcy start date DATE(MM/DD/YYYY) Actual date that the bankruptcy petition is filed with the court. ----------------------------------------------------------------------------------------------------------------------------------- Actual MI claim amount filed NUMBER(15,2) The amount of the claim that was filed by the servicer with the PMI company. ----------------------------------------------------------------------------------------------------------------------------------- Actual discharge date DATE(MM/DD/YYYY) Actual date that the Discharge Order is entered in the bankruptcy docket. ----------------------------------------------------------------------------------------------------------------------------------- Actual due date DATE(MM/DD/YYYY) Actual due date of the next outstanding payment amount due from the mortgagor. ----------------------------------------------------------------------------------------------------------------------------------- Actual eviction complete date DATE(MM/DD/YYYY) Actual date that the eviction proceedings are completed by local counsel. ----------------------------------------------------------------------------------------------------------------------------------- Actual eviction start date DATE(MM/DD/YYYY) Actual date that the eviction proceedings are commenced by local counsel. ----------------------------------------------------------------------------------------------------------------------------------- Actual first legal date DATE(MM/DD/YYYY) Actual date that foreclosure counsel filed the first legal action as defined by state statute. ----------------------------------------------------------------------------------------------------------------------------------- Actual redemption end date DATE(MM/DD/YYYY) Actual date that the foreclosure redemption period expires. ----------------------------------------------------------------------------------------------------------------------------------- Bankruptcy chapter VARCHAR2(2) 7= Chapter 7 filed 11= Chapter 11 filed Chapter of bankruptcy filed. 12= Chapter 12 filed 13= Chapter 13 filed ----------------------------------------------------------------------------------------------------------------------------------- Bankruptcy flag VARCHAR2(2) Y=Active Bankruptcy N=No Active Bankruptcy Servicer defined indicator that identifies that the property is an asset in an active bankruptcy case. ----------------------------------------------------------------------------------------------------------------------------------- Bankruptcy Case Number VARCHAR2(15) The court assigned case number of the bankruptcy filed by a party with interest in the property. -----------------------------------------------------------------------------------------------------------------------------------
D-2-1
------------------------------------------------------------------------------------------------------------------------------------ MI claim amount paid NUMBER(15,2) The amount paid to the servicer by the PMI company as a result of submitting an MI claim. ------------------------------------------------------------------------------------------------------------------------------------ MI claim funds received date DATE(MM/DD/YYYY) Actual date that funds were received from the PMI company as a result of transmitting an MI claim. ------------------------------------------------------------------------------------------------------------------------------------ Current loan amount NUMBER(10,2) Current unpaid principal balance of the loan as of the date of reporting to Aurora Master Servicing. ------------------------------------------------------------------------------------------------------------------------------------ Date FC sale scheduled DATE(MM/DD/YYYY) Date that the foreclosure sale is scheduled to be held. ------------------------------------------------------------------------------------------------------------------------------------ Date relief/dismissal granted DATE(MM/DD/YYYY) Actual date that the dismissal or relief from stay order is entered by the bankruptcy court. ------------------------------------------------------------------------------------------------------------------------------------ Date REO offer accepted DATE(MM/DD/YYYY) Actual date of acceptance of an REO offer. ------------------------------------------------------------------------------------------------------------------------------------ Date REO offer received DATE(MM/DD/YYYY) Actual date of receipt of an REO offer. ------------------------------------------------------------------------------------------------------------------------------------ Delinquency value NUMBER(10,2) Value obtained typically from a BPO prior to foreclosure referral not related to loss mitigation activity. ------------------------------------------------------------------------------------------------------------------------------------ Delinquency value source VARCHAR2(15) BPO= Broker's Appraisal=Appraisal Name of vendor or management company Price Opinion that provided the delinquency valuation amount. ------------------------------------------------------------------------------------------------------------------------------------ Delinquency value date DATE(MM/DD/YYYY) Date that the delinquency valuation amount was completed by vendor or property management company. ------------------------------------------------------------------------------------------------------------------------------------ Delinquency flag VARCHAR2(2) Y= 90+ delinq. Not in FC, Bky or Loss mit Servicer defined indicator that indentifies N=Less than 90 days delinquent that the loan is delinquent but is not involved in loss mitigation, foreclosure, bankruptcy or REO. ------------------------------------------------------------------------------------------------------------------------------------ Foreclosure flag VARCHAR2(2) Y=Active foreclosure N=No active foreclosure Servicer defined indicator that identifies that the loan is involved in foreclosure proceedings. ------------------------------------------------------------------------------------------------------------------------------------ Corporate expense balance NUMBER(10,2) Total of all cumulative expenses advanced by the servicer for non-escrow expenses such as but not limited to: FC fees and costs, bankruptcy fees and costs, property preservation and property inspections. ------------------------------------------------------------------------------------------------------------------------------------
D-2-2 ------------------------------------------------------------------------------------------------------------------------------------ Foreclosure attorney referral DATE(MM/DD/YYYY) Actual date that the loan was referred to date local counsel to begin foreclosure proceedings. ----------------------------------------------------------------------------------------------------------------------------------- Foreclosure valuation amount NUMBER(15,2) Value obtained during the foreclosure process. Usually as a result of a BPO and typically used to calculate the bid. ----------------------------------------------------------------------------------------------------------------------------------- Foreclosure valuation date DATE(MM/DD/YYYY) Date that foreclosure valuation amount was completed by vendor or property management company. ----------------------------------------------------------------------------------------------------------------------------------- Foreclosure valuation source VARCHAR2(80) BPO= Broker's Appraisal=Appraisal Name of vendor or management company Price Opinion that provided the foreclosure valuation amount. ----------------------------------------------------------------------------------------------------------------------------------- FHA 27011A transmitted date DATE(MM/DD/YYYY) Actual date that the FHA 27011A claim was submitted to HUD. ----------------------------------------------------------------------------------------------------------------------------------- FHA 27011 B transmitted date DATE(MM/DD/YYYY) Actual date that the FHA 27011B claim was submitted to HUD. ----------------------------------------------------------------------------------------------------------------------------------- VA LGC/ FHA Case number VARCHAR2(15) Number that is assigned individually to the loan by either HUD or VA at the time of origination. The number is located on the Loan Guarantee Certificate (LGC) or the Mortgage Insurance Certificate (MIC). ----------------------------------------------------------------------------------------------------------------------------------- FHA Part A funds received date DATE(MM/DD/YYYY) Actual date that funds were received from HUD as a result of transmitting the 27011A claim. ----------------------------------------------------------------------------------------------------------------------------------- Foreclosure actual sale date DATE(MM/DD/YYYY) Actual date that the foreclosure sale was held. ----------------------------------------------------------------------------------------------------------------------------------- Servicer loan number VARCHAR2(15) Individual number that uniquely identifies loan as defined by servicer. ----------------------------------------------------------------------------------------------------------------------------------- Loan type VARCHAR2(2) 1=FHA Residential 2=VA Residential Type of loan being serviced generally 3=Conventional w/o PMI 4=Commercial defined by the existence of certain types 5=FHA Project 6=Conventional w/PMI of insurance. (ie: FHA, VA, conventional 7=HUD 235/265 8=Daily Simple insured, conventional uninsured, SBA, 9=Farm Loan Interest Loan etc.) S=Sub prime U=Unknown ----------------------------------------------------------------------------------------------------------------------------------- Loss mit approval date DATE(MM/DD/YYYY) The date determined that the servicer and mortgagor agree to pursue a defined loss mitigation alternative. -----------------------------------------------------------------------------------------------------------------------------------
D-2-3 ------------------------------------------------------------------------------------------------------------------------------ Loss mit flag VARCHAR2(2) Y= Active loss N=No active loss Servicer defined indicator that identifies mitigation mitigation that the loan is involved in completing aloss mitigation alternative. ------------------------------------------------------------------------------------------------------------------------------ Loss mit removal date DATE(MM/DD/YYYY) The date that the mortgagor is denied loss mitigation alternatives or the date that the loss mitigation alternative is completed resulting in a current or liquidated loan. ------------------------------------------------------------------------------------------------------------------------------ Loss mit type VARCHAR2(2) L= Loss Mitigation LT=Ligitation pending The defined loss mitigation alternative NP=Pending CH= Charge off identified on the loss mit approval date. non-performing sale FB= Forbearance plan DI= Deed in lieu PC=Partial claim MO=Modification VA=VA refunding SH=Short sale ------------------------------------------------------------------------------------------------------------------------------ Loss mit value NUMBER(10,2) Value obtained typically from a BPO prior to foreclosure sale intended to aid in the completion of loss mitigation activity. ------------------------------------------------------------------------------------------------------------------------------ Loss mit value date DATE(MM/DD/YYYY) Name of vendor or management company that provided the loss mitigation valuation amount. ------------------------------------------------------------------------------------------------------------------------------ Loss mit value source VARCHAR2(15) BPO= Broker's Price Opinion Appraisal= Date that the lostt mitigation valuation Appraisal amount was completed by vendor or property management company. ------------------------------------------------------------------------------------------------------------------------------ MI certificate number VARCHAR2(15) A number that is assigned individually to the loan by the PMI company at the time of origination. Similar to the VA LGC/FHA Case Number in purpose. ------------------------------------------------------------------------------------------------------------------------------ LPMI Cost NUMBER(7,7) The current premium paid to the PMI company for Lender Paid Mortgage Insurance. ------------------------------------------------------------------------------------------------------------------------------ Occupancy status VARCHAR2(1) O=Owner occupied T=Tenant occupied The most recent status of the property U=Unknown V=Vacant regarding who if anyone is occupying the property. Typically a result of a routine property inspection. ------------------------------------------------------------------------------------------------------------------------------ First Vacancydate/ DATE(MM/DD/YYYY) The date that the most recent occupancy Occupancy status was determined. Typically the date status date of the most recent property inspection. ------------------------------------------------------------------------------------------------------------------------------ Original loan amount NUMBER(10,2) Amount of the contractual obligations (ie: note and mortgage/deed of trust). ------------------------------------------------------------------------------------------------------------------------------
D-2-4 ----------------------------------------------------------------------------------------------------------------------------------- Original value amoun NUMBER(10,2) Appraised value of property as of origination typically determined through the appraisal process. ----------------------------------------------------------------------------------------------------------------------------------- Origination date DATE(MM/DD/YYYY) Date that the contractual obligations (ie: note and mortgage/deed of trust) of the mortgagor was executed. ----------------------------------------------------------------------------------------------------------------------------------- FHA Part B funds DATE(MM/DD/YYYY) Actual date that funds were received received date fro HUD as a result of transmitting the 27011B claim. ----------------------------------------------------------------------------------------------------------------------------------- Post petition due DATE(MM/DD/YYYY) The post petition due date of a loan date involved in a chapter 13 bankruptcy. ----------------------------------------------------------------------------------------------------------------------------------- Property condition VARCHAR2(2) 1= Excellent 2=Good Physical condition of the property as 3=Average 4=Fair most recently reported to the servicer 5=Poor 6=Very poor by vendor or property management company. ----------------------------------------------------------------------------------------------------------------------------------- Property type VARCHAR2(2) 1=Single family 2=Town house Type of property secured by mortgage 3=Condo 4=Multifamily 5=Other such as: single family, 2-4 unit, etc. 6=Prefabricated B=Commercial C=Land only 7=Mobile home U=Unknown D=Farm A=Church P=PUD R=Row house O=Co-op M=Manufactured housing 24= 2-4 family CT=Condotel MU=Mixed use ----------------------------------------------------------------------------------------------------------------------------------- Reason for default VARCHAR2(3) Cause of delinquency as identified by 001=Death of principal mtgr 02=Illness of principal mtgr mortgagor. 003=Illness of mtgr's family member 004=Death of mtgr's family member 005=Marital difficulties 006=Curtailment of income 007=Excessive obligations 008=Abandonment of property 009=Distant employee transfer 011=Property problem 012=Inability to sell property 013=Inability to rent property 014=Military service 015=Other 016=Unemployment 017=Business failure 019=Casualty loss 022=Energy-Environment costs 023= Servicing problems 026= Payment adjustment 027=Payment dispute 029=Transfer ownership pending 030=Fraud 031=Unable to contact borrower INC=Incarceration -----------------------------------------------------------------------------------------------------------------------------------
D-2-5 ----------------------------------------------------------------------------------------------------------------------------------- REO repaired value NUMBER(10,2) The projected value of the property that is adjusted from the "as is" value assuming necessary repairs have been made to the property as determined by the vendor/property management company. ----------------------------------------------------------------------------------------------------------------------------------- REO list price adjustment NUMBER(15,2) The most recent listing/pricing amount as amount updated by the servicer for REO properties. ----------------------------------------------------------------------------------------------------------------------------------- REO list price adjustment date DATE(MM/DD/YYYY) The most recent date that the servicer advised the agent to make an adjustment to the REO listing price. ----------------------------------------------------------------------------------------------------------------------------------- REO value (as is) NUMBER(10,2) The value of the property without making any repairs as determined by the vendor/property management copmany. ----------------------------------------------------------------------------------------------------------------------------------- REO actual closing date DATE(MM/DD/YYYY) The actual date that the sale of the REO property closed escrow. ----------------------------------------------------------------------------------------------------------------------------------- REO flag VARCHAR2(7) Y=Active REO N=No active REO Servicer defined indicator that identifies that the property is now Real Estate Owned. ----------------------------------------------------------------------------------------------------------------------------------- REO original list date DATE(MM/DD/YYYY) The initial/first date that the property was listed with an agent as an REO. ----------------------------------------------------------------------------------------------------------------------------------- REO original list price NUMBER(15,2) The initial/first price that was used to list the property with an agent as an REO. ----------------------------------------------------------------------------------------------------------------------------------- REO net sales proceeds NUMBER(10,2) The actual REO sales price less closing costs paid. The net sales proceeds are identified within the HUD1 settlement statement. ----------------------------------------------------------------------------------------------------------------------------------- REO sales price NUMBER(10,2) Actual sales price agreed upon by both the purchaser and servicer as documented on the HUD1 settlement statement. ----------------------------------------------------------------------------------------------------------------------------------- REO scheduled close date DATE(MM/DD/YYYY) The date that the sale of the REO property is scheduled to close escrow. ----------------------------------------------------------------------------------------------------------------------------------- REO value date DATE(MM/DD/YYYY) Date that the vendor or management company completed the valuation of the property resulting in the REO value (as is). ----------------------------------------------------------------------------------------------------------------------------------- REO value source VARCHAR2(15) BPO= Broker's Price Opinion Appraisal= Name of vendor or management company Appraisal that provided the REO value (as is). -----------------------------------------------------------------------------------------------------------------------------------
D-2-6 ----------------------------------------------------------------------------------------------------------------------------------- Repay first due date DATE(MM/DD/YYYY) The due date of the first scheduled payment due under a forbearance or repayment plan agreed to by both the mortgagor and servicer. ----------------------------------------------------------------------------------------------------------------------------------- Repay next due date DATE(MM/DD/YYYY) The due date of the next outstanding payment due under a forbearance or repayment plan agreed to by both the mortgagor and servicer. ----------------------------------------------------------------------------------------------------------------------------------- Repay plan DATE(MM/DD/YYYY) The servicer defined date upon which the broken/reinstated/closed date servicer considers that the plan is no longer in effect as a result of plan completion or mortgagor's failure to remit payments as scheduled. ----------------------------------------------------------------------------------------------------------------------------------- Repay plan created date DATE(MM/DD/YYYY) The date that both the mortgagor and servicer agree to the terms of a forebearance or repayment plan. ----------------------------------------------------------------------------------------------------------------------------------- SBO loan number NUMBER(9) Individual number that uniquely identifies loan as defined by Aurora Master Servicing. ----------------------------------------------------------------------------------------------------------------------------------- Escrow balance/advance NUMBER(10,2) The positive or negative account balance balance that is dedicated to payment of hazard insurance, property taxes, MI, etc. (escrow items only) ----------------------------------------------------------------------------------------------------------------------------------- Title approval letter received DATE(MM/DD/YYYY) The actual date that the title approval was date received as set forth in the HUD title approval letter. ----------------------------------------------------------------------------------------------------------------------------------- Title package HUD/VA date DATE(MM/DD/YYYY) The actual date that the title package was submitted to either HUD or VA. ----------------------------------------------------------------------------------------------------------------------------------- VA claim funds received date DATE(MM/DD/YYYY) The actual date that funds were received by the servicer from the VA for the expense claim submitted by the servicer. ----------------------------------------------------------------------------------------------------------------------------------- VA claim submitted date DATE(MM/DD/YYYY) The actual date that the expense claim was submitted by the servicer to the VA. ----------------------------------------------------------------------------------------------------------------------------------- VA first funds received amount NUMBER(15,2) The amount of funds received by the servicer from VA as a result of the specified bid. ----------------------------------------------------------------------------------------------------------------------------------- VA first funds received date DATE(MM/DD/YYYY) The date that the funds from the specified bid were received by the servicer from the VA. -----------------------------------------------------------------------------------------------------------------------------------
D-2-7 ----------------------------------------------------------------------------------------------------------------------------------- VA NOE submitted DATE(MM/DD/YYYY) Actual date that the Notice of Election to date Convey was submitted to the VA. ----------------------------------------------------------------------------------------------------------------------------------- Zip Code VARCHAR2(5) US postal zip code that corresponds to property location. ----------------------------------------------------------------------------------------------------------------------------------- FNMA Delinquency VARCHAR2(3) 09=Forbearance 17=Preforeclosure sale The code that is electronically reported to status code 24=Drug seizure 26=Refinance 27=Assumption FNMA by the servicer that reflects the 28=Modification 29=Charge-off 30=Third-party sale current defaulted status of a loan. (ie: 65, 31=Probate 32=Military indulgence 43=Foreclosure 67, 43 or 44) 44=Deed-in-lieu 49=Assignment 61=Second lien 62=VA no-bid 63=VA Refund considerations 64=VA Buydown 65=Ch. 7 bankruptcy 66=Ch. 11 bankruptcy 67=Ch. 13 bankruptcy ----------------------------------------------------------------------------------------------------------------------------------- FNMA delinquency VARCHAR2(3) The code that is electronically reported to reason code 001=Death of principal mtgr 002=Illness of principal mtgr FNMA by the servicer that describes the 003=Illness of mtgr's family member 004=Death of mtgr's family member circumstance that appears to be the 005=Marital difficulties 006=Curtailment of income primary contributing factor to the 007=Excessive obligations 008=Abandonment of property delinquency. 009=Distant employee transfer 011=Property problem 012=Inability to sell property 013=Inability to rent property 014=Military service 015=Other 016=Unemployment 017=Business failure 019=Casualty loss 022=Energy-Environment costs 023= Servicing problems 026= Payment adjustment 027=Payment dispute 029=Transfer ownership pending 030=Fraud 031=Unable to contact borrower INC=Incarceration ----------------------------------------------------------------------------------------------------------------------------------- Suspense balance NUMBER(10,2) Money submitted to the servicer, credited to the mortgagor's account but not allocated to principal, interest, escrow, etc. ----------------------------------------------------------------------------------------------------------------------------------- Restricted NUMBER(10,2) Money held in escrow by the mortgage escrow balance company through completion of repairs to property. ----------------------------------------------------------------------------------------------------------------------------------- Investor number NUMBER (10,2) Unique number assigned to a group of loans in the servicing system. -----------------------------------------------------------------------------------------------------------------------------------
D-2-8