EX-99.6A 8 efc6-0551_5819824ex996a.txt Exhibit 99.6(a) EXECUTION COPY ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this "Assignment"), dated of January 1, 2006, is entered into among Morgan Stanley Capital I Inc., a Delaware corporation (the "Depositor"), Morgan Stanley Mortgage Capital Inc. ("MSMCI"), Countrywide Home Loans, Inc., as seller (the "Seller") and Countrywide Home Loans Servicing LP, as servicer (the "Servicer"), and acknowledged by LaSalle Bank, National Association, as trustee (the "Trustee") of Morgan Stanley Mortgage Loan Trust 2006-1AR (the "Trust"), and Wells Fargo Bank, National Association, as master servicer (or any successor master servicer, the "Master Servicer"). RECITALS WHEREAS MSMCI, the Seller and the Servicer have entered into a certain First Amended and Restated Mortgage Loan Sale And Servicing Agreement, dated as of June 1, 2005 (the "Initial Agreement"), and a Second Amended and Restated Mortgage Loan Sale And Servicing Agreement, dated as of September 1, 2005 (the "September Agreement"), as supplemented by the Amendment Regulation AB (the "Amendment"), dated as of January 26, 2006 (as amended or modified to the date hereof, the "Agreement"), pursuant to the terms of which MSMCI has acquired certain Mortgage Loans and the Servicer has agreed to service such Mortgage Loans; WHEREAS, in connection with the transfer of the Mortgage Loans hereunder, the Seller agrees that, from and after the date hereof, each Mortgage Loan transferred hereunder will be subject to the Agreement; WHEREAS the Depositor has agreed, on the terms and conditions contained herein, to purchase from MSMCI certain of the Mortgage Loans (the "Specified Mortgage Loans") which are subject to the provisions of the Agreement and are listed on the mortgage loan schedule attached as Exhibit I hereto (the "Specified Mortgage Loan Schedule"); and WHEREAS the Trustee, on behalf of the Trust, has agreed, on the terms and conditions contained herein, to purchase from the Depositor the Specified Mortgage Loans; NOW, THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties agree as follows: 1. Assignment and Assumption (a) On and as of the date hereof, MSMCI hereby sells, assigns and transfers to the Depositor all of its right, title and interest in the Specified Mortgage Loans and all rights and obligations related thereto as provided under the Agreement to the extent relating to the Specified Mortgage Loans, the Depositor hereby accepts such assignment from MSMCI (the "First Assignment and Assumption"), and the Seller hereby acknowledges the First Assignment and Assumption. MSMCI specifically reserves and does not assign to the Depositor hereunder any and all right, title and interest in, to and under and all obligations of MSMCI with respect to any Mortgage Loans subject to the Agreement which are not the Specified Mortgage Loans. (b) On and of the date hereof, immediately after giving effect to the First Assignment and Assumption, the Depositor hereby sells, assigns and transfers to the Trustee, on behalf of the Trust, all of its right, title and interest in the Specified Mortgage Loans and all rights and obligations related thereto as provided under the Agreement to the extent relating to the Specified Mortgage Loans, and the Trustee, on behalf of the Trust, hereby accepts such assignment from the Depositor (the "Second Assignment and Assumption"), and the Seller hereby acknowledges the Second Assignment and Assumption. (c) On and as of the date hereof, MSMCI represents and warrants to the Depositor and the Trustee that MSMCI has not taken any action that would serve to impair or encumber the respective ownership interests of the Depositor and the Trustee in the Specified Mortgage Loans since the date of MSMCI's acquisition of the Specified Mortgage Loans. 2. Recognition of Trustee (a) From and after the date hereof, both MSMCI and the Seller shall note the transfer of the Specified Mortgage Loans to the Trustee, in their respective books and records and shall recognize the Trustee, on behalf of the Trust, as of the date hereof, as the owner of the Specified Mortgage Loans, and Servicer shall service the Specified Mortgage Loans for the benefit of the Trust pursuant to the Agreement, the terms of which are incorporated herein by reference. It is the intention of the Seller, the Servicer, the Depositor, the Trustee and MSMCI that this Assignment shall be binding upon and inure to the benefit of the Depositor, the Trustee and MSMCI and their respective successors and assigns. (b) Without in any way limiting the foregoing, the parties confirm that this Assignment includes the rights relating to amendments or waivers under the Agreement. Accordingly, the right of MSMCI to consent to any amendment of the Agreement and its rights concerning waivers as set forth in Sections 24 and 28 of the Agreement shall be exercisable, to the extent any such amendment or waiver affects the Specified Mortgage Loans or any of the rights under the Agreement with respect thereto (other than the servicing of the Specified Mortgage Loans, which shall be enforced by the Master Servicer) by the Trustee as assignee of MSMCI. (c) It is expressly understood and agreed by the parties hereto that (i) this Assignment is executed and delivered by LaSalle Bank, National Association, not individually or personally but solely on behalf of the Trust, as the assignee, in the exercise of the powers and authority conferred and vested in it, as Trustee, pursuant to the Pooling and Servicing Agreement dated as of the date hereof (the "Pooling and Servicing Agreement") among the Depositor, Wells Fargo Bank, National Association, as securities administrator (the "Securities Administrator) and master servicer, and the Trustee, (ii) each of the representations, undertakings and agreements herein made on the part of assignee is made and intended not as personal representations, undertakings and agreements by LaSalle Bank, National Association but is made and intended for the purpose of binding only the Trust, (iii) nothing herein contained shall be construed as creating any liability for LaSalle Bank, National Association, individually or personally, to perform any covenant (either express or implied) contained herein, (iv) under no circumstances shall LaSalle Bank, National Association be personally liable for the payment of any indebtedness or expenses of the Trust, or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Assignment and (v) all recourse for any payment liability or other obligation of the assignee shall be had solely to the assets of the Trust. 2 3. Representations and Warranties (a) The Depositor represents and warrants that it is a sophisticated investor able to evaluate the risks and merits of the transactions contemplated hereby, and that it has not relied in connection therewith upon any statements or representations of the Seller or MSMCI other than those contained in the Agreement or this Assignment. (b) Each of the parties hereto represents and warrants that it is duly and legally authorized to enter into this Assignment. (c) Each of the Depositor, MSMCI, Seller and Servicer hereto represents and warrants that this Assignment has been duly authorized, executed and delivered by it and (assuming due authorization, execution and delivery thereof by each of the other parties hereto) constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors' rights generally and by general equitable principles (regardless of whether such enforcement is considered in a proceeding in equity or at law). (d) The Seller hereby restates, as of the Closing Date (as defined in the Pooling and Servicing Agreement referred to below), the representations and warranties set forth in Section 7.02 of the Agreement, to and for the benefit of the Depositor, the Trustee and the Trust, and by this reference incorporates such representations and warranties herein, as of such Closing Date. 4. The Servicer hereby acknowledges that Wells Fargo Bank, National Association has been appointed as the master servicer of the Specified Mortgage Loans pursuant to the Pooling and Servicing Agreement and, therefore, has the right to enforce all obligations of the Servicer under the Agreement. Such rights will include, without limitation, the right to terminate the Servicer under the Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Servicer under the Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Agreement, the right to examine the books and records of the Servicer, the right to enforce indemnification obligations, and the right to exercise certain rights of consent and approval relating to actions taken by MSMCI. The Servicer shall make all distributions under the Agreement to the Master Servicer by wire transfer of immediately available funds to: Wells Fargo Bank, National Association ABA Number: 121-000-248 Account Name: Corporate Trust Clearing Account number: 3970771416 For further credit to: 50890500, MSM 2006-1AR The Servicer shall deliver all reports required to be delivered to the Purchaser under the Agreement to the Master Servicer at the following address: Wells Fargo Bank, National Association 9062 Old Annapolis Road Columbia, Maryland 21045 Attention: Client Manager, MSM 2006-1AR Office Number: (410) 884-2000 Telecopier: (410) 715-2380 5. Amendments to the Agreement 3 The parties to this Assignment hereby agree to amend the Agreement as follows: (a) With respect to the Specified Mortgage Loans, "Permitted Investments" shall have the meaning of such term as defined in the Pooling and Servicing Agreement. (b) The definition of "Remittance Date" in Section 1 is hereby amended and restated in its entirety as follows: "Remittance Date": No later than 1:00 p.m. New York time on the 18th day of each month (or, if such 18th day is not a Business Day, the following Business Day)." (c) The definition of "Servicing Fee Rate" in Section 1 is hereby amended and restated in its entirety as follows: "Servicing Fee Rate": With respect to each Specified Mortgage Loan, the rate per annum specified on Schedule A to the Pooling and Servicing Agreement. (d) The fifth paragraph of Subsection 11.12 of the Agreement is hereby amended and restated in its entirety as follows: "With respect to any REO Property, the deed or certificate of sale shall be taken in the name of the Purchaser, or its designee. The Trustee's name shall be placed on the title to such REO Property solely as the Trustee hereunder and not in its individual capacity. The Servicer shall ensure that the title to such REO Property references the Agreement and the Purchaser's (or its designee's) capacity thereunder. Pursuant to its efforts to sell such REO Property, the Servicer shall either itself or through an agent selected by the Servicer protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Purchaser, or its designee, rent the same, or any part thereof, as the Servicer deems to be in the best interest of the Purchaser, or its designee, for the period prior to the sale of such REO Property. The Servicer shall prepare for and deliver to the Purchaser, or its designee, a statement with respect to each REO Property that has been rented showing the aggregate rental income received and all expenses incurred in connection with the maintenance of such REO Property at such times as is necessary to enable the Purchaser, or its designee, to comply with the reporting requirements of the REMIC Provisions. The net monthly rental income, if any, from such REO Property shall be deposited in the Certificate Account no later than the close of business on each Determination Date. The Servicer shall perform the tax reporting and withholding required by Sections 1445 and 6050J of the Code with respect to foreclosures and abandonments, the tax reporting required by Section 6050H of the Code with respect to the receipt of mortgage interest from individuals and any tax reporting required by Section 6050P of the Code with respect to the cancellation of indebtedness by certain financial entities, by preparing such tax information as may be required and delivering the same to the Purchaser, or its designee. In the event that the Purchaser, or its designee, acquires any Mortgaged Property as aforesaid or otherwise in connection with a default or imminent default on a Mortgage Loan, the Servicer shall dispose of such Mortgaged Property as soon as practicable in a manner that maximizes the Liquidation Proceeds thereof, but in no event later than three years after its acquisition by the Purchaser, or its designee. In that event, the Purchaser, or its designee, shall have been supplied with an Opinion of Counsel to the effect that the holding by the Purchaser, or its designee, of such Mortgaged Property subsequent to a three-year period, if applicable, will not result in the imposition of taxes on "prohibited transactions" of any REMIC as defined in section 860F of the Code or cause any REMIC to fail to qualify as a REMIC at any time, the Purchaser, or its designee, may continue to hold such Mortgaged Property (subject to any conditions contained in such Opinion of Counsel) after the expiration of such three-year 4 period. Notwithstanding any other provision of this Agreement, no Mortgaged Property acquired by the Purchaser, or its designee, shall be rented (or allowed to continue to be rented) or otherwise used for the production of income by or on behalf of the Purchaser, or its designee, in such a manner or pursuant to any terms that would (i) cause such Mortgaged Property to fail to qualify as "foreclosure property" within the meaning of section 860G(a)(8) of the Code or (ii) subject any REMIC to the imposition of any federal, state or local income taxes on the income earned from such Mortgaged Property under Section 860G(c) of the Code or otherwise, unless the Servicer has agreed to indemnify and hold harmless the Purchaser, or its designee, with respect to the imposition of any such taxes." (e) The first paragraph of Subsection 11.15 of the Agreement is hereby amended and restated in its entirety as follows: "Statements to the Purchaser. Not later than the 10th calendar day of each month (or, if such 10th day is not a Business Day, the following Business Day), the Servicer shall forward to the Master Servicer in hard copy and electronic format a statement in a form mutually agreed upon by the Servicer and the Master Servicer, certified by a Servicing Officer, setting forth the information required by Exhibit 17 hereto." (f) The reference "Subsection 11.05(d)" in the third sentence of Subsection 11.16 of the Agreement is hereby replaced with the reference "Subsection 11.05(b)". (g) Subsection 11.19 and Subsection 11.20 of the Agreement are hereby deleted. (h) Subsection 13.01(b) of the Agreement is hereby amended and restated in its entirety as follows: "failure by the Servicer to duly observe or perform, in any material respect, any other covenants, obligations or agreements of the Servicer as set forth in this Agreement which failure continues unremedied for a period of sixty (60) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Purchaser;" (i) The word "or" is deleted from the end of Subsection 13.01(d), the word "or" is added at the end of Subsection 13.01(e) and the following paragraph is hereby incorporated into the Agreement as new Subsection 13.01(f): "(f) failure by the Servicer to duly perform, within the required time period, its obligations under Sections 2.04 and 2.05 of the Regulation AB Addendum, which failure continues unremedied for a period of ten (10) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by any party to this Agreement or by any master servicer responsible for master servicing the Mortgage Loans pursuant to a securitization of such Mortgage Loans;" (j) The following paragraph is hereby incorporated into the Agreement as new Section 34: "Third Party Beneficiary. For purposes of this Agreement, including but not limited to Subsection 11.20, any Master Servicer shall be considered a third party beneficiary to this Agreement entitled to all the rights and benefits accruing to any Master Servicer herein as if it were a direct party to this Agreement." (k) The fifth paragraph of Section 15 of the Agreement is hereby deleted in its entirety. 5 (l) The word "and" is deleted from the end of Subsection 29(c), the word "and" is added at the end of Subsection 29(d) and the following clause is hereby incorporated into the Agreement as a new Subsection 29(e): "(e) necessary to provide the reports required by Section 4.05 of the Pooling and Servicing Agreement. (m) Exhibit 16 to the Agreement is hereby deleted in its entirety. (n) Exhibit II hereto is hereby incorporated into the Agreement as Exhibit 17 thereto. 6. Indemnification The Master Servicer shall indemnify and hold harmless the Servicer and its affiliates, and in each case, its officers, directors and agents from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Master Servicer or any of its officers, directors, agents or affiliates of its obligations in connection with the Pooling and Servicing Agreement or the negligence, bad faith or willful misconduct of the Master Servicer in connection therewith. In addition, the Master Servicer shall indemnify and hold harmless the Servicer and its affiliates, and in each case, its officers, directors and agents from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by any Servicer (as defined in the Pooling and Servicing Agreement), other than the Servicer (as defined herein), of its obligations in connection with any back-up certification (or any other back-up documents) to any certification of any Form 10-K required to be provided by the Master Servicer. 7. Continuing Effect Except as contemplated hereby, the Agreement shall remain in full force and effect in accordance with its terms. 8. Governing Law This Assignment and the rights and obligations hereunder shall be governed by and construed in accordance with the internal laws of the State of New York. 9. Notices Any notices or other communications permitted or required under the Agreement to be made to the Depositor, MSMCI, the Master Servicer, the Seller, the Servicer and the Trustee shall be made in accordance with the terms of the Agreement and shall be sent to the Depositor and Trustee as follows: In the case of MSMCI: Morgan Stanley Mortgage Capital Inc. 1221 Avenue of the Americas New York, New York 10020 Attention: Morgan Stanley Mortgage Loan Trust 2006-1AR 6 With a copy to: Morgan Stanley & Co. Incorporated 1585 Broadway New York, New York 10036 Attention: General Counsel's Office In the case of the Depositor: Morgan Stanley Capital I Inc. 1585 Broadway New York, New York 10036 Attention: Morgan Stanley Mortgage Loan Trust 2006-1AR In the case of the Trustee: LaSalle Bank, National Association, as Trustee for the Morgan Stanley Mortgage Loan Trust 2006-1AR 135 South LaSalle Street, Suite 2910 Chicago, Illinios 60603 Attention: Trust Administration- MS0601 In the case of the Seller and the Servicer: Countrywide Home Loans, Inc. 4500 Park Granada Calabasas, California 91302 Attention: Morgan Stanley Mortgage Loan Trust 2006-1AR or to such other address as may hereafter be furnished by the Depositor and the Trustee to the parties in accordance with the provisions of the Agreement. 10. Ratification Except as modified and expressly amended by this Assignment, the Agreement is in all respects ratified and confirmed, and all terms, provisions and conditions thereof shall be and remain in full force and effect. 11. Counterparts This Assignment may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same instrument. 12. Definitions Any capitalized term used but not defined in this Assignment has the same meaning as in the Agreement. [SIGNATURE PAGE FOLLOWS] 7 IN WITNESS WHEREOF, the parties hereto have executed this Assignment the day and year first above written. MORGAN STANLEY MORTGAGE CAPITAL INC. By: /s/ Steven Shapiro ----------------------------------- Name: Steven Shapiro Title: Executive Director MORGAN STANLEY CAPITAL I INC. By: /s/ Steven Shapiro ----------------------------------- Name: Steven Shapiro Title: Vice President COUNTRYWIDE HOME LOANS, INC. By: /s/ Monica Brudenell ----------------------------------- Name: Monica Brudenell Title: First Vice President COUNTRYWIDE HOME LOANS SERVICING LP By: Countrywide GP, Inc., its General Partner By: /s/ Monica Brudenell ----------------------------------- Name: Monica Brudenell Title: First Vice President Acknowledged and Agreed: WELLS FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer By: /s/ Daron C. Woodus ------------------------------------ Name: Daron C. Woodus Title: Assistant Vice President LASALLE BANK, NATIONAL ASSOCIATION, as Trustee of Morgan Stanley Mortgage Loan Trust 2006-1AR By: /s/ Christopher Lewis ------------------------------------ Name: Christopher Lewis Title: Assistant Vice President EXHIBIT I Mortgage Loan Schedule [see Schedule A to Pooling and Servicing Agreement] Exhibit IIA: Standard File Layout - Delinquency Reporting
-------------------------------------- -------------------------------------------------- --------- ------------- Column/Header Name Description Decimal Format Comment -------------------------------------- -------------------------------------------------- --------- ------------- SERVICER_LOAN_NBR A unique number assigned to a loan by the Servicer. This may be different than the LOAN_NBR -------------------------------------- -------------------------------------------------- --------- ------------- LOAN_NBR A unique identifier assigned to each loan by the originator. -------------------------------------- -------------------------------------------------- --------- ------------- CLIENT_NBR Servicer Client Number -------------------------------------- -------------------------------------------------- --------- ------------- SERV_INVESTOR_NBR Contains a unique number as assigned by an external servicer to identify a group of loans in their system. -------------------------------------- -------------------------------------------------- --------- ------------- BORROWER_FIRST_NAME First Name of the Borrower. -------------------------------------- -------------------------------------------------- --------- ------------- BORROWER_LAST_NAME Last name of the borrower. -------------------------------------- -------------------------------------------------- --------- ------------- PROP_ADDRESS Street Name and Number of Property -------------------------------------- -------------------------------------------------- --------- ------------- PROP_STATE The state where the property located. -------------------------------------- -------------------------------------------------- --------- ------------- PROP_ZIP Zip code where the property is located. -------------------------------------- -------------------------------------------------- --------- ------------- BORR_NEXT_PAY_DUE_DATE The date that the borrower's next payment MM/DD/YYYY is due to the servicer at the end of processing cycle, as reported by Servicer. -------------------------------------- -------------------------------------------------- --------- ------------- LOAN_TYPE Loan Type (i.e. FHA, VA, Conv) -------------------------------------- -------------------------------------------------- --------- ------------- BANKRUPTCY_FILED_DATE The date a particular bankruptcy claim was 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 MM/DD/YYYY been approved by the courts -------------------------------------- -------------------------------------------------- --------- ------------- BANKRUPTCY_DCHRG_DISM_DATE The Date The Loan Is Removed From Bankruptcy. MM/DD/YYYY Either by Dismissal, Discharged and/or a Motion For Relief Was Granted. -------------------------------------- -------------------------------------------------- --------- ------------- LOSS_MIT_APPR_DATE The Date The Loss Mitigation Was Approved By The MM/DD/YYYY Servicer -------------------------------------- -------------------------------------------------- --------- ------------- LOSS_MIT_TYPE The Type Of Loss Mitigation Approved For A Loan Such As; -------------------------------------- -------------------------------------------------- --------- ------------- LOSS_MIT_EST_COMP_DATE The Date The Loss Mitigation /Plan Is Scheduled MM/DD/YYYY To End/Close -------------------------------------- -------------------------------------------------- --------- ------------- LOSS_MIT_ACT_COMP_DATE The Date The Loss Mitigation Is Actually MM/DD/YYYY Completed -------------------------------------- -------------------------------------------------- --------- ------------- FRCLSR_APPROVED_DATE The date DA Admin sends a letter to the MM/DD/YYYY servicer with instructions to begin foreclosure proceedings. -------------------------------------- -------------------------------------------------- --------- ------------- ATTORNEY_REFERRAL_DATE Date File Was Referred To Attorney to Pursue MM/DD/YYYY Foreclosure -------------------------------------- -------------------------------------------------- --------- ------------- FIRST_LEGAL_DATE Notice of 1st legal filed by an Attorney in a MM/DD/YYYY Foreclosure Action -------------------------------------- -------------------------------------------------- --------- ------------- FRCLSR_SALE_EXPECTED_DATE The date by which a foreclosure sale is expected MM/DD/YYYY to occur. -------------------------------------- -------------------------------------------------- --------- ------------- FRCLSR_SALE_DATE The actual date of the foreclosure sale. MM/DD/YYYY -------------------------------------- -------------------------------------------------- --------- ------------- FRCLSR_SALE_AMT The amount a property sold for at the 2 No commas(,) foreclosure sale. or dollar signs ($) -------------------------------------- -------------------------------------------------- --------- ------------- EVICTION_START_DATE The date the servicer initiates eviction of the MM/DD/YYYY borrower. -------------------------------------- -------------------------------------------------- --------- ------------- EVICTION_COMPLETED_DATE The date the court revokes legal MM/DD/YYYY possession of the property from the borrower. -------------------------------------- -------------------------------------------------- --------- ------------- LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or dollar signs ($) -------------------------------------- -------------------------------------------------- --------- ------------- LIST_DATE The date an REO property is listed at a MM/DD/YYYY particular price. -------------------------------------- -------------------------------------------------- --------- ------------- 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 MM/DD/YYYY the Servicer. -------------------------------------- -------------------------------------------------- --------- ------------- REO_CLOSING_DATE The date the REO sale of the property is MM/DD/YYYY scheduled to close. -------------------------------------- -------------------------------------------------- --------- ------------- REO_ACTUAL_CLOSING_DATE Actual Date Of REO Sale MM/DD/YYYY -------------------------------------- -------------------------------------------------- --------- ------------- OCCUPANT_CODE Classification of how the property is occupied. -------------------------------------- -------------------------------------------------- --------- ------------- -------------------------------------- -------------------------------------------------- --------- ------------- PROP_CONDITION_CODE A code that indicates the condition of the property. -------------------------------------- -------------------------------------------------- --------- ------------- PROP_INSPECTION_DATE The date a property inspection is 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 2 on brokers price opinion or appraisal. -------------------------------------- -------------------------------------------------- --------- ------------- REPAIRED_PROP_VAL The amount the property would be worth if 2 repairs are completed pursuant to a broker's price opinion or appraisal. -------------------------------------- -------------------------------------------------- --------- ------------- If applicable: -------------------------------------- -------------------------------------------------- --------- ------------- DELINQ_STATUS_CODE FNMA Code Describing Status of Loan -------------------------------------- -------------------------------------------------- --------- ------------- DELINQ_REASON_CODE The circumstances which caused a borrower to stop paying on a loan. Code indicates the reason why the loan is in default for this cycle. -------------------------------------- -------------------------------------------------- --------- ------------- MI_CLAIM_FILED_DATE Date Mortgage Insurance Claim Was Filed With MM/DD/YYYY Mortgage Insurance Company. -------------------------------------- -------------------------------------------------- --------- ------------- MI_CLAIM_AMT Amount of Mortgage Insurance Claim Filed No commas(,) or dollar signs ($) -------------------------------------- -------------------------------------------------- --------- ------------- MI_CLAIM_PAID_DATE Date Mortgage Insurance Company Disbursed Claim MM/DD/YYYY Payment -------------------------------------- -------------------------------------------------- --------- ------------- 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 MM/DD/YYYY By The Pool 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 ($) -------------------------------------- -------------------------------------------------- --------- ------------- VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY -------------------------------------- -------------------------------------------------- --------- ------------- VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY -------------------------------------- -------------------------------------------------- --------- ------------- VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or dollar signs ($) -------------------------------------- -------------------------------------------------- --------- -------------
Exhibit IIB: 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: Wells 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 Wells 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 The FNMA Delinquent Reason Code field should show the Reason for Delinquency as follows: -------------------------------------------------------- Delinquency Delinquency Description Code -------------------------------------------------------- 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 -------------------------------------------------------- The FNMA Delinquent Status Code field should show the Status of Default as follows: ------------------------------------------------------- Status Code Status Description ------------------------------------------------------- 09 Forbearance ------------------------------------------------------- 17 Pre-foreclosure Sale Closing Plan Accepted ------------------------------------------------------- 24 Government Seizure ------------------------------------------------------- 26 Refinance ------------------------------------------------------- 27 Assumption ------------------------------------------------------- 28 Modification ------------------------------------------------------- 29 Charge-Off ------------------------------------------------------- 30 Third Party Sale ------------------------------------------------------- 31 Probate ------------------------------------------------------- 32 Military Indulgence ------------------------------------------------------- 43 Foreclosure Started ------------------------------------------------------- 44 Deed-in-Lieu Started ------------------------------------------------------- 49 Assignment Completed ------------------------------------------------------- 61 Second Lien Considerations ------------------------------------------------------- 62 Veteran's Affairs-No Bid ------------------------------------------------------- 63 Veteran's Affairs-Refund ------------------------------------------------------- 64 Veteran's Affairs-Buydown ------------------------------------------------------- 65 Chapter 7 Bankruptcy ------------------------------------------------------- 66 Chapter 11 Bankruptcy ------------------------------------------------------- 67 Chapter 13 Bankruptcy -------------------------------------------------------
Exhibit IIC: Standard File Layout - Master Servicing ---------------------------------------------------------------------------------------------------------- Column Name Description Decimal Format Comment Max Size ---------------------------------------------------------------------------------------------------------- SER_INVESTOR_NBR A value assigned by the Servicer Text up to 10 digits 20 to define a group of loans. ---------------------------------------------------------------------------------------------------------- LOAN_NBR A unique identifier assigned to Text up to 10 digits 10 each loan by the investor. ---------------------------------------------------------------------------------------------------------- SERVICER_LOAN_NBR A unique number assigned to a loan Text up to 10 digits 10 by the Servicer. This may be different than the LOAN_NBR. ---------------------------------------------------------------------------------------------------------- BORROWER_NAME The borrower name as received in Maximum length of 30 (Last, 30 the file. It is not separated by First) first and last name. ---------------------------------------------------------------------------------------------------------- SCHED_PAY_AMT Scheduled monthly principal and 2 No commas(,) or dollar signs 11 scheduled interest payment that a ($) borrower is expected to pay, P&I constant. ---------------------------------------------------------------------------------------------------------- NOTE_INT_RATE The loan interest rate as reported 4 Max length of 6 6 by the Servicer. ---------------------------------------------------------------------------------------------------------- NET_INT_RATE The loan gross interest rate less 4 Max length of 6 6 the service fee rate as reported by the Servicer. ---------------------------------------------------------------------------------------------------------- SERV_FEE_RATE The servicer's fee rate for a loan 4 Max length of 6 6 as reported by the Servicer. ---------------------------------------------------------------------------------------------------------- SERV_FEE_AMT The servicer's fee amount for a 2 No commas(,) or dollar signs 11 loan as reported by the Servicer. ($) ---------------------------------------------------------------------------------------------------------- NEW_PAY_AMT The new loan payment amount as 2 No commas(,) or dollar signs 11 reported by the Servicer. ($) ---------------------------------------------------------------------------------------------------------- NEW_LOAN_RATE The new loan rate as reported by 4 Max length of 6 6 the Servicer. ---------------------------------------------------------------------------------------------------------- ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6 calculate a forecasted rate. ---------------------------------------------------------------------------------------------------------- ACTL_BEG_PRIN_BAL The borrower's actual principal 2 No commas(,) or dollar signs 11 balance at the beginning of the ($) processing cycle. ---------------------------------------------------------------------------------------------------------- ACTL_END_PRIN_BAL The borrower's actual principal 2 No commas(,) or dollar signs 11 balance at the end of the ($) processing cycle. ---------------------------------------------------------------------------------------------------------- BORR_NEXT_PAY_DUE_DATE The date at the end of processing MM/DD/YYYY 10 cycle that the borrower's next payment is due to the Servicer, as reported by Servicer. ---------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs 11 applied. ($) ---------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_1 The curtailment date associated MM/DD/YYYY 10 with the first curtailment amount. ---------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_1 The curtailment interest on the 2 No commas(,) or dollar signs 11 first curtailment amount, if ($) applicable. ---------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_2 The second curtailment amount to 2 No commas(,) or dollar signs 11 be applied. ($) ---------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_2 The curtailment date associated MM/DD/YYYY 10 with the second curtailment amount. ---------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_2 The curtailment interest on the 2 No commas(,) or dollar signs 11 second curtailment amount, if ($) applicable. ---------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs 11 applied. ($) ---------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_3 The curtailment date associated MM/DD/YYYY 10 with the third curtailment amount. ---------------------------------------------------------------------------------------------------------- CURT_ADJ_AMT_3 The curtailment interest on the 2 No commas(,) or dollar signs 11 third curtailment amount, if ($) applicable. ---------------------------------------------------------------------------------------------------------- PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs 11 reported by the Servicer. ($) ---------------------------------------------------------------------------------------------------------- PIF_DATE The paid in full date as reported MM/DD/YYYY 10 by the Servicer. ---------------------------------------------------------------------------------------------------------- ACTION_CODE The standard FNMA numeric code used Action Code Key: 15=Bankruptcy, 2 to indicate the default/delinquent 30=Foreclosure, , 60=PIF, status of a particular loan. 63=Substitution, 65=Repurchase,70=REO ---------------------------------------------------------------------------------------------------------- INT_ADJ_AMT The amount of the interest 2 No commas(,) or dollar signs 11 adjustment as reported by the ($) Servicer. ---------------------------------------------------------------------------------------------------------- SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment 2 No commas(,) or dollar signs 11 amount, if applicable. ($) ---------------------------------------------------------------------------------------------------------- NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, 2 No commas(,) or dollar signs 11 if applicable. ($) ---------------------------------------------------------------------------------------------------------- LOAN_LOSS_AMT The amount the Servicer is passing 2 No commas(,) or dollar signs 11 as a loss, if applicable. ($) ---------------------------------------------------------------------------------------------------------- SCHED_BEG_PRIN_BAL The scheduled outstanding 2 No commas(,) or dollar signs 11 principal amount due at the ($) beginning of the cycle date to be passed through to investors. ---------------------------------------------------------------------------------------------------------- SCHED_END_PRIN_BAL The scheduled principal balance 2 No commas(,) or dollar signs 11 due to investors at the end of a ($) processing cycle. ---------------------------------------------------------------------------------------------------------- SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs 11 reported by the Servicer for the ($) current cycle -- only applicable for Scheduled/Scheduled Loans. ---------------------------------------------------------------------------------------------------------- SCHED_NET_INT The scheduled gross interest 2 No commas(,) or dollar signs 11 amount less the service fee ($) amount for the current cycle as reported by the Servicer -- only applicable for Scheduled/Scheduled Loans. ---------------------------------------------------------------------------------------------------------- ACTL_PRIN_AMT The actual principal amount 2 No commas(,) or dollar signs 11 collected by the Servicer for the ($) current reporting cycle -- only applicable for Actual/Actual Loans. ---------------------------------------------------------------------------------------------------------- ACTL_NET_INT The actual gross interest amount 2 No commas(,) or dollar signs 11 less the service fee amount for ($) the current reporting cycle as reported by the Servicer -- only applicable for Actual/Actual Loans. ---------------------------------------------------------------------------------------------------------- PREPAY_PENALTY_ AMT The penalty amount received when a 2 No commas(,) or dollar signs 11 borrower prepays on his loan as ($) reported by the Servicer. ---------------------------------------------------------------------------------------------------------- PREPAY_PENALTY_ WAIVED The prepayment penalty amount for 2 No commas(,) or dollar signs 11 the loan waived by the servicer. ($) ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10 Modification for the loan. ---------------------------------------------------------------------------------------------------------- MOD_TYPE The Modification Type. Varchar - value can be alpha 30 or numeric ---------------------------------------------------------------------------------------------------------- DELINQ_P&I_ADVANCE_AMT The current outstanding principal 2 No commas(,) or dollar signs 11 and interest advances made by ($) Servicer. ----------------------------------------------------------------------------------------------------------
Exhibit IID : 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. (n) (o) 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. (p) 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. B-1 Total Realized Loss (or Amount of Any Gain) 23. The total derived from subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis ( ). B-2 Exhibit IIE: Calculation of Realized Loss/Gain Form 332 Prepared by: __________________ Date: _______________ Phone: ______________________ Email Address:_____________________
---------------------- ------------------------ ----------------------------- Servicer Loan No. Servicer Name Servicer Address ---------------------- ------------------------ ----------------------------- WELLS 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 HUD Part B ________________ (18b) B-3 (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)
B-4 Escrow Disbursement Detail ------------------------------------------------------------------------------- Type Date Paid Period of Total Paid Base Penalties Interest (Tax /Ins.) Coverage Amount ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- B-5