EX-99.14D 27 efc6-2180_5943506ex9914d.txt Exhibit 99.14d -------------- EXECUTION COPY - Post Reg AB OMNIBUS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT THIS OMNIBUS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT, dated as of October 1, 2006 (the "Assignment" or the "Agreement"), among Morgan Stanley Mortgage Capital Inc. ("Owner"), Wells Fargo Bank, National Association, a national banking association ("Servicer"), and LaSalle Bank National Association ("LaSalle"), as trustee ("Trustee") of each of the Morgan Stanley Mortgage Loan Trusts listed on Schedule 1 hereto (each, a "Trust" and together, the "Trusts") and acknowledged by Wells Fargo Bank, National Association, as master servicer under each of the Pooling and Servicing Agreement described below (in such capacity, the "Master Servicer") and as securities administrator (in such capacity, the "Securities Administrator") and Morgan Stanley Capital I Inc. (the "Depositor"). WHEREAS, on the respective transaction closing dates set forth on Schedule 1 hereto, the Owner sold those certain mortgage loans in each Trust identified on Schedule 2 attached hereto (the "Specified Mortgage Loans") to the related Trust, each of which was formed pursuant to the related pooling and servicing agreement described on Schedule 1 attached hereto (in each case, the "Pooling and Servicing Agreement"); WHEREAS, in connection with the sale of the Specified Mortgage Loans to the Trust, the Owner retained the right to service the Specified Mortgage Loans (the "Servicing Rights"); WHEREAS, pursuant to that certain servicing agreement, dated as of May 20, 2005 (the "Initial GMAC Flow Servicing Agreement"), by and between the Owner and GMAC Mortgage Corporation ("GMAC"), as amended by the First Amended and Restated Servicing Agreement, dated as of January 1, 2006 (the "Amended Flow Servicing Agreement" and, together with the Initial GMAC Flow Servicing Agreement, the "GMAC Flow Servicing Agreement") and as further modified by the related Assignment, Assumption and Recognition Agreement identified on Schedule 3 hereto, each dated as of the date of the Pooling and Servicing Agreement, by and among the Owner, GMAC, and the Trustee, and acknowledged by the Master Servicer and Securities Administrator and by the Depositor (each, a "GMAC AAR" and, together with the GMAC Flow Servicing Agreement, for each Trust, the related "GMAC Servicing Agreement"), GMAC agreed to service the Specified Mortgage Loans on behalf of each Trust pursuant to the terms of the related GMAC Servicing Agreement; and WHEREAS, the Owner has exercised its right to terminate GMAC as servicer under each GMAC Servicing Agreement (and GMAC has acknowledged each such termination in writing) and to sell to the Servicer, and the Servicer purchased from the Owner the Servicing Rights and agrees to service the Specified Mortgage Loans, subject to the terms hereof and the terms (servicing provisions only) of that certain Seller's Warranties and Servicing Agreement (WFHM 2005-W102) attached as Exhibit I hereto, dated as of December 1, 2005, by and between the Owner and the Servicer (the "SWSA"), as modified by this Omnibus Assignment, Assumption and Recognition Agreement (the "Wells AAR" and, together with the SWSA, the 1 "Wells Servicing Agreement") and Servicer agrees to service the Specified Mortgage Loans in each Trust in accordance with the provisions of the Wells Servicing Agreement; WHEREAS, pursuant to the related Pooling and Servicing Agreement, the Owner has obtained written consent from each Rating Agency that the transfer of servicing from GMAC to Servicer will not result in a ratings downgrade on the securities issued by the related transaction identified on Schedule 1 hereto. 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. Acknowledgement of Sale of Servicing Rights. The Servicer and the Owner hereby acknowledge that, pursuant to the Flow Servicing Rights Purchase and Sale Agreement, dated as of May 12, 2005, as amended, between the Owner, as seller, and the Servicer, as purchaser (the "Purchase Agreement"), the Owner, as owner of all of the Servicing Rights with respect to the Specified Mortgage Loans sold such Servicing Rights to the Servicer. Pursuant to the Purchase Agreement, Servicer purchased the Servicing Rights with respect to the Specified Mortgage Loans and hereby agrees to assume the servicing of the Specified Mortgage Loans from GMAC and to service them for the benefit of each Trust listed on Schedule 1 hereto in accordance with the provisions of the Wells Servicing Agreement as modified by the provisions of this Agreement. In connection with the transfer of the Servicing Rights, the Servicer agrees that, from and after the applicable Servicing Transfer Date as specified on Schedule 1 attached hereto (each, a "Servicing Transfer Date"), each Specified Mortgage Loan will be subject to, and serviced by the Servicer under, the Wells Servicing Agreement. The Owner specifically reserves and does not assign to any Trust listed on Schedule 1 hereunder those rights under the Wells Servicing Agreement that do not relate to the servicing of the Specified Mortgage Loans and any and all right, title and interest in, to and under and any obligations of the Owner with respect to any mortgage loans subject to the Wells Servicing Agreement which are not the Specified Mortgage Loans. 2. Recognition by the Servicer The Servicer hereby acknowledges and agrees that from and after the applicable Servicing Transfer Date, the Trust shall be considered the "Purchaser" (as such term is defined in the SWSA), which term shall include, with respect to the servicing of the Specified Mortgage Loans, the Master Servicer acting on each Trust's behalf) and further agrees that each Trust shall have all the rights and remedies available to the Purchaser, insofar as they relate to the servicing of the Specified Mortgage Loans in that Trust, under the Wells Servicing Agreement. Neither the Servicer nor the Owner shall amend or agree to amend, modify, waive or otherwise alter any of the terms or provisions of the Wells Servicing Agreement which amendment, modification, 2 waiver or other alteration would in any way affect the Specified Mortgage Loans in any Trust or the Servicer's performance under the Wells Servicing Agreement with respect to the Specified Mortgage Loans in that Trust without the prior written consent of the Master Servicer. The Servicer hereby acknowledges that Wells Fargo Bank, National Association has been appointed as the Master Servicer of the Mortgage Loans in each Trust pursuant to the related Pooling and Servicing Agreement and, therefore, has the right to enforce all obligations of the Servicer under the Wells Servicing Agreement with respect to the Specified Mortgage Loans. Such rights will include, without limitation except that they relate solely to the Specified Mortgage Loans in each Trust, the right to terminate the Servicer under the Wells Servicing 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 Wells Servicing Agreement, the right to receive all monthly reports and other data required to be delivered by the Servicer under the Wells Servicing Agreement, the right to examine the books and records of the Servicer, indemnification rights, except as otherwise specified herein, and the right to exercise certain rights of consent and approval under the Wells Servicing Agreement. The Servicer shall make all distributions under the Wells Servicing Agreement required to be made to each Trust under this 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: [See Schedule 1 hereto] The Servicer shall deliver all reports required to be delivered under this Agreement to the Master Servicer at the following address: Wells Fargo Bank, National Association 9062 Old Annapolis Road Columbia, Maryland 21045 Attention: Client Manager, [Insert Series Designation] 3. Indemnification Notwithstanding any statement to the contrary in Section 2 above, the Servicer shall and does hereby acknowledge that the indemnification provisions set forth in Section 3.03, Section 8.01 and Section 9.01(g) of the SWSA shall be available to and for the benefit of the Owner, the Depositor and each Trust (including the Trustee and the Master Servicer acting on that Trust's behalf), as provided in the Wells Servicing Agreement. 4. Representations and Warranties (a) Each of the parties hereto represents and warrants that it is duly and legally authorized to enter into this Agreement. (b) The Servicer hereby warrants and represents that it is a Fannie Mae- or FHLMC-approved Person. 3 (c) Each of the Owner and the Servicer represents and warrants that this Agreement 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) and in the case of the Servicer, laws affecting the contract obligations of insured banks. (d) The Servicer represents that, as of the date hereof, it has (i) a servicing rating in the highest category of Fitch and Moody's and (ii) a servicer evaluation ranking in one of the two highest categories of S&P. (e) The Owner hereby represents that it has provided prior written notice of the transfer of the servicing rights and the name of the successor Servicer to the Rating Agencies. 5. Amendments to the SWSA The parties to this Agreement hereby agree to amend the SWSA with respect to the Specified Mortgage Loans as follows: (a) With respect to Article I, the term "Permitted Investments" is hereby added to the Definitions, and shall have the meaning of such term as defined in the Pooling and Servicing Agreement. (b) With respect to Article I, the definition of "Static Pool Information" shall be inapplicable. (c) With respect to Article I, the definition of "Third-Party Originator" shall be inapplicable. (d) Section 3.01(i) (Selection Process), Section 3.01(k) (Sale Treatment) and Section 3.01(m) (No Broker's Fees) of the SWSA shall be inapplicable. (e) Section 3.02 shall be inapplicable. (f) The second sentence of the second paragraph of Section 4.01 is hereby amended and restated in its entirety as follows: "Unless the Mortgagor is in default with respect to the Mortgage Loan or such default is, in the judgment of the Company, imminent, the Company shall not permit any modification of any Mortgage Loan that would change the Mortgage Interest Rate, defer or forgive 4 the payment of any principal or interest payments, reduce or increase the outstanding principal amount (except for actual payments of principal) or change the maturity date on such Mortgage Loan." (g) The third sentence of the second paragraph of Section 4.01 is hereby amended and restated in its entirety as follows: "In the event that no default exists or is imminent, the Company shall request written consent from the Purchaser to permit such a modification and the Purchaser shall provide written consent or notify the Company of its objection to such modification within three Business Days of its receipt of the Company's request." (h) The last paragraph of Section 4.04 is hereby amended and restated in its entirety as follows: "The foregoing requirements for deposit into the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent amounts on deposit in Custodial Account may be invested at discretion of the Seller in the Permitted Investments permitted by Section 6.01, need not be deposited by the Company into the Custodial Account. Any interest paid on funds deposited in the Custodial Account by the depository institution from investment in the Permitted Investments shall accrue to the benefit of the Company and the Company shall be entitled to retain and withdraw such interest from the Custodial Account pursuant to Section 4.05." (i) Section 4.05(vii) is hereby amended to add the term "Monthly Advances," prior to the term "Servicing Advances." (j) The words "on or before the Remittance Date" are hereby deleted from the first sentence of Section 4.17. (k) The second sentence of the second paragraph of Section 5.01 is hereby amended and restated in its entirety as follows: "Such interest shall be deposited in the Custodial Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the Business Day on which such payment was due and ending with the Business Day on which such payment is made, both inclusive." (l) The first paragraph of Section 5.02 is hereby amended and restated in its entirety as follows: 5 "Not later than the Remittance Report Date, the Company shall furnish to the Purchaser in an electronic form the information required by the reports attached hereto as Exhibit II, or a form otherwise mutually agreed to by the Company and Purchaser, with a trial balance report attached thereto, as to the remittance period ending on the last day of the preceding month." (m) The second paragraph of Section 6.02 is hereby amended and restated in its entirety as follows: "If the Company satisfies or releases a Mortgage (except pursuant to a modification or liquidation pursuant to this agreement) without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Company otherwise prejudice any rights the Purchaser, the Trustee or the Trust Fund may have under the mortgage instruments, the Company shall deposit into the Custodial Account the entire outstanding principal balance, plus all accrued interest on such Mortgage Loan, on the day preceding the Remittance Date in the month following the date of such release. The Company shall maintain the Fidelity Bond and Errors and Omissions Insurance Policy as provided for in Section 4.12 insuring the Company against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein." (n) Section 6.04 is hereby modified as follows: (1) paragraph (i) is inapplicable; and (2) the phrases "Purchaser and any Depositor" and "the Purchaser and such Depositor" are hereby deleted and replaced with "Master Servicer" and "such Master Servicer", respectively. (o) Section 6.05 is hereby deleted in its entirety. (p) Section 6.06 is hereby modified as follows: 6 (1) the phrases "Purchaser and any Depositor" and "the Purchaser and such Depositor" are hereby deleted and replaced with "Master Servicer" and "such Master Servicer", respectively; (2) Section 6.06(i) is hereby amended by inserting at the end of such subsection "(or those Servicing Criteria otherwise mutually agreed to by the Purchaser, the Company and any Person that will be responsible for signing any Sarbanes Certification with respect to a Securitization Transaction in response to evolving interpretations of Regulation AB)"; and (q) The first word in Section 6.06(iv) is deleted and replaced in its entirety with "deliver, and cause each Subservicer and Subcontractor described in clause (iii) above to deliver," (r) The following parenthetical is inserted directly before the proviso in the last sentence of the first paragraph of Section 6.07(i): "(and if the Company is servicing any of the Mortgage Loans in a Securitization Transaction, appoint a successor servicer reasonably acceptable to the Master Servicer for such Securitization Transaction)" (s) Section 6.10 is inapplicable. (t) Section 9.01(f)(i) is inapplicable. (u) Section 9.01(f)(ii) is inapplicable. (v) Section 9.01(f)(iii) is amended to require the Company to comply with the obligations thereof in connection with the purchase of servicing rights for the Specified Mortgage Loans. (w) Section 9.01(f)(iii) is also amended by adding the following after item (H): "(I) a description of any affiliation or relationship of a type described in Item 1119 of Regulation AB between the Servicer and any of the following parties to a Securitization Transaction, as such parties are identified to the Servicer by the Purchaser or any Depositor in writing in advance of such Securitization Transaction: (1) the sponsor; (2) the depositor; (3) the issuing entity; (4) any servicer; (5) any trustee; (6) any originator; 7 (7) any significant obligor; (8) any enhancement or support provider; and (9) any other material transaction party." (x) Section 9.01(f)(iv) is hereby amended and restated in its entirety as follows: "For the purpose of satisfying its reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company shall (or shall cause each Subservicer to) (1) provide prompt notice to the Purchaser, any Master Servicer and any Depositor in writing of (A) any material litigation or governmental proceedings pending against the Company or any Subservicer (B) any affiliations or relationships that develop following the closing date of a Securitization Transaction between the Company or any Subservicer and any of the parties specified in Section 9.01(f)(iii)(I) (and any other parties identified in writing by the requesting party) with respect to such Securitization Transaction, (C) any Event of Default under the terms of this Agreement or any Reconstitution Agreement, (D) any merger, consolidation or sale of substantially all of the assets of the Company, and (E) the Company's entry into an agreement with a Subservicer to perform or assist in the performance of any of the Company's obligations under this Agreement or any Reconstitution Agreement and (2) provide to the Purchaser and any Depositor a description of such proceedings, affiliations or relationships." (y) Section 9.01(f)(vi) is hereby renumbered as 9.01(f)(viii), and the following new Section 9.01(f)(vi) is hereby inserted as follows: "(vi) In addition to such information as the Company, as servicer, is obligated to provide pursuant to other provisions of this Agreement, not later than ten (10) calendar days prior to the deadline for the filing of any distribution report on Form 10-D in respect of any Securitization Transaction that includes any of the Mortgage Loans serviced by the Company or any Subservicer, the Company or such Subservicer, as applicable, shall, to the extent the Company or such Subservicer has knowledge, provide to the party responsible for filing such report (including, if applicable, the Master Servicer) notice of the occurrence of any of the following events along with all information, data, and materials related thereto as may be required to be included in the related distribution report on Form 10-D (as specified in the provisions of Regulation AB referenced below): (i) any material modifications, extensions or waivers of pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material 8 over time (Item 1121(a)(11) of Regulation AB); (ii) material breaches of pool asset representations or warranties or transaction covenants (Item 1121(a)(12) of Regulation AB); and (iii) information regarding new asset-backed securities issuances backed by the same pool assets, any pool asset changes (such as, additions, substitutions or repurchases), and any material changes in origination, underwriting or other criteria for acquisition or selection of pool assets (Item 1121(a)(14) of Regulation AB)." (z) Section 9.01(f)(vii) is hereby deleted in its entirety and replaced with the following new Section 9.01(f)(vii) as follows: "(vii) The Company shall provide to the Purchaser, any Master Servicer and any Depositor, evidence of the authorization of the person signing any certification or statement, copies or other evidence of Fidelity Bond Insurance and Errors and Omission Insurance policy, financial information and reports, and such other information related to the Company or any Subservicer or the Company or such Subservicer's performance hereunder." (aa) Section 9.01(g) is hereby amended and restated in its entirety as follows: "(g) The Company shall indemnify the Purchaser, each affiliate of the Purchaser, and each of the following parties participating in a Securitization Transaction or in connection with the purchase of any servicing rights: each sponsor and issuing entity; each Person responsible for the preparation, execution or filing of any report required to be filed with the Commission with respect to such Securitization Transaction, or for execution of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such Securitization Transaction; each broker dealer acting as underwriter, placement agent or initial purchaser, each Person who controls any of such parties or the Depositor (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act); and the respective present and former directors, officers, employees and agents of each of the foregoing and of the Depositor (each, an "Indemnified Party"), and shall hold each of them harmless from and against any losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain arising out of or based upon: 9 (i) (A) any untrue statement of a material fact contained or alleged to be contained in any information, report, certification, accountants' letter or other material provided under Sections 4.25, 6.04(ii), 6.06, 9.01(e) and (f) by or on behalf of the Company, or provided under Sections 4.25, 6.04(ii), 6.06, 9.01(e) and (f) by or on behalf of any Subservicer, or Subcontractor (collectively, the "Company Information"), or (B) the omission or alleged omission to state in the Company Information a material fact required to be stated in the Company Information or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, by way of clarification, that clause (B) of this paragraph shall be construed solely by reference to the Company Information and not to any other information communicated in connection with a sale or purchase of securities, without regard to whether the Company Information or any portion thereof is presented together with or separately from such other information; (ii) any breach by the Company of its obligations under, or any failure by the Company, any Subservicer or any Subcontractor to deliver any information, report, certification, accountants' letter or other material when and as required under, Sections 4.25, 6.04(ii), 6.06, 9.01(e) and (f), including any failure by the Company to identify any Subcontractor "participating in the servicing function" within the meaning of Item 1122 of Regulation AB; or (iii) any breach by the Company of a representation or warranty set forth in Section 9.01(f)(viii)(A) or in a writing furnished pursuant to Section 9.01(f)(viii)(B) and made as of a date prior to the closing date of the related Securitization Transaction, to the extent that such breach is not cured by such closing date, or any breach by the Company of a representation or warranty in a writing furnished pursuant to Section 9.01(f)(viii)(B) to the extent made as of a date subsequent to such closing date; or (iv) the negligence bad faith or willful misconduct of the Company in connection with its performance under this Article IX. If the indemnification provided for herein is unavailable or insufficient to hold harmless an Indemnified Party, then the Company agrees that it shall contribute to the amount paid or payable by such Indemnified Party as a result of any claims, losses, damages or liabilities incurred by such Indemnified Party in such proportion as is 10 appropriate to reflect the relative fault of such Indemnified Party on the one hand and the Company on the other. In the case of any failure of performance described in sub-clause (ii) of this Section 9.01(g), the Company shall promptly reimburse the Purchaser, any Depositor, as applicable, and each Person responsible for the preparation, execution or filing of any report required to be filed with the Commission with respect to such Securitization Transaction, or for execution of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such Securitization Transaction, for all costs reasonably incurred by each such party in order to obtain the information, report, certification, accountants' letter or other material not delivered as required by the Company, any Subservicer or any Subcontractor. This indemnification shall survive the termination of this Agreement or the termination of any party to this Agreement." (bb) The following paragraph is hereby incorporated into the SWSA as new Section 13: "Third Party Beneficiary. For purposes of this Agreement, including but not limited to Subsections 6.04 and 6.06, 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." (cc) Exhibit J is hereby replaced in its entirety with Exhibit III to this Omnibus Assignment, Assumption and Recognition Agreement. 6. Notices The Depositor's address for purposes for all notices and correspondence related to the Mortgage Loans and this Agreement is: Morgan Stanley Capital I Inc. 1585 Broadway New York, New York 10036 Attention: [Insert Series Designation] The Trustee's address for purposes for all notices and correspondence related to the Mortgage Loans and this Agreement is: LaSalle Bank National Association 135 South LaSalle Street, Suite 1511 Chicago, Illinois 60603 Attn: Global Securities and Trust Services-[Insert Series Designation] 11 The Owner's address for purposes for all notices and correspondence related to the Mortgage Loans and this Agreement is: Morgan Stanley Mortgage Capital Inc. 1221 Avenue of the Americas New York, New York 10020 Attention: [Insert Series Designation] With a copy to: Morgan Stanley & Co. Incorporated 1585 Broadway New York, New York 10036 Attention: General Counsel's Office The Servicer's address for purposes for all notices and correspondence related to the Mortgage Loans and this Agreement is: Wells Fargo Bank, National Association 1 Home Campus Des Moines, Iowa 50328-0001 Attention: John B. Brown, MAC X2302-033 With a copy to: Wells Fargo Bank, National Association 1 Home Campus Des Moines, Iowa 50328-0001 Attention: General Counsel, MAC X2401-06T and Wells Fargo Bank, National Association 7430 New Technology Way Frederick, Maryland 21703 Attention: Structured Finance, MAC X3906-012 7. Certain Matters Regarding the Trustee It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by LaSalle Bank National Association, not individually or personally but solely on behalf of the related Trusts, as the assignee, in the exercise of the powers and authority conferred and vested in it, as Trustee, pursuant to the related Pooling and Servicing Agreement, (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 related Trusts, (iii) nothing herein contained shall be construed as creating any liability for 12 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 any Trust under this Agreement and (v) all recourse for any payment liability or other obligation of the assignee shall be had solely to the assets of the affected Trust. 8. Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of law principles, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. 9. Modifications No term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the party against whom such waiver or modification is sought to be enforced. 10. Successor and Assigns This Agreement shall inure to the benefit of (i) the successors and assigns of the parties hereto and (ii) the Trust (including the Trustee and the Master Servicer acting on the Trust's behalf). Any entity into which the Owner, the Depositor or the Servicer may be merged or consolidated shall, without the requirement for any further writing, be deemed the Owner, the Depositor or the Servicer, respectively, hereunder. 11. Continuing Effect Except as contemplated by this Assignment, the SWSA shall remain in full force and effect in accordance with its terms. 12. 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. 13. Definitions Any capitalized term used but not defined in this Assignment has the same meaning as in the SWSA. 14. Conflicts In the event that any provision of this Agreement conflicts with any provision of the SWSA with respect to the Specified Mortgage Loans, the terms of this Agreement shall control. 13 [SIGNATURE PAGE FOLLOWS] 14 IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption and Recognition Agreement to be executed by their duly authorized officers as of the date first above written. Owner THE TRUSTS MORGAN STANLEY MORTGAGE CAPITAL INC. BY: LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE OF EACH OF THE TRUSTS SET FORTH ON SCHEDULE 1 HERETO By: /s/ Van Cushny By: /s/ Susan L. Feld Its: Vice President Its: Assistant Vice President Taxpayer Identification Number: Servicer WELLS FARGO BANK, NATIONAL ASSOCIATION By: /s/ Laurie McGoogan Its: Vice President Taxpayer Identification Number: Acknowledged and Agreed: MORGAN STANLEY CAPITAL I INC. WELLS FARGO BANK, NATIONAL ASSOCIATION, AS MASTER SERVICER By: /s/ Valerie Kay By: /s/ Diane Courtney Its: Vice President Its: Vice President Taxpayer Identification Number: 15 SCHEDULE 1 THE TRUSTS
------------------------------------------------------------------------------------------------------------------------------- Transaction Name Servicing Pooling and Servicing Agreement Cut-off Date Transaction For Further Transfer Date Closing Date Credit To ------------------------------------------------------------------------------------------------------------------------------- Morgan Stanley October 1, 2006 The Pooling and Servicing Agreement, January 1, 2006 January 31, 2006 50890500, Mortgage Loan Trust dated as of January 1, 2006 by and MSM 2006-1AR 2006-1AR among the Depositor, the Master Servicer and Securities Administrator, and the Trustee ------------------------------------------------------------------------------------------------------------------------------- Morgan Stanley October 1, 2006 The Pooling and Servicing Agreement, January 1, 2006 January 31, 2006 50890600, Mortgage Loan Trust dated as of January 1, 2006 by and MSM 2006-2 2006-2 among the Depositor, the Master Servicer and Securities Administrator, and the Trustee ------------------------------------------------------------------------------------------------------------------------------- Morgan Stanley October 1, 2006 The Pooling and Servicing Agreement, July 1, 2006 July 31, 2006 50933200, Mortgage Loan Trust dated as of July 1, 2006 by and among MSM 2006-9AR 2006-9AR the Depositor, the Master Servicer and Securities Administrator, and the Trustee ------------------------------------------------------------------------------------------------------------------------------- Morgan Stanley October 1, 2006 The Pooling and Servicing Agreement, July 1, 2006 July 31, 2006 50933300, Mortgage Loan Trust dated as of July 1, 2006 by and among MSM 2006-11 2006-11 the Depositor, the Master Servicer and Securities Administrator, and the Trustee -------------------------------------------------------------------------------------------------------------------------------
16 SCHEDULE 2 SPECIFIED MORTGAGE LOANS [delivered to Owner, Servicer and Master Servicer] 17 SCHEDULE 3 ASSIGNMENT ASSUMPTION AND RECOGNITION AGREEMENTS
--------------------------------------------------------------------------------------- Transaction Name Assignment Agreement --------------------------------------------------------------------------------------- Morgan Stanley Mortgage Loan Trust The Assignment Assumption and Recognition 2006-1AR Agreement dated as of January 1, 2006 --------------------------------------------------------------------------------------- Morgan Stanley Mortgage Loan Trust 2006-2 The Assignment Assumption and Recognition Agreement dated as of January 1, 2006 --------------------------------------------------------------------------------------- Morgan Stanley Mortgage Loan Trust The Assignment Assumption and Recognition 2006-9AR Agreement dated as of July 1, 2006 --------------------------------------------------------------------------------------- Morgan Stanley Mortgage Loan Trust The Assignment Assumption and Recognition 2006-11 Agreement dated as of July 1, 2006 ---------------------------------------------------------------------------------------
EXHIBIT I WELLS SERVICING AGREEMENT [delivered to Owner, Servicer and Master Servicer] 2 EXHIBIT II 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 MM/DD/YYYY payment 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 foreclosure sale. commas(,) or dollar signs ($) ------------------------------------------------------------------------------------------------------------------ EVICTION_START_DATE The date the servicer initiates eviction of the MM/DD/YYYY borrower. ------------------------------------------------------------------------------------------------------------------ EVICTION_COMPLETED_DATE The date the court revokes legal possession MM/DD/YYYY of the property from the borrower. ------------------------------------------------------------------------------------------------------------------ LIST_PRICE The price at which an REO property is marketed. 2 No commas(,) or dollar signs ($) ------------------------------------------------------------------------------------------------------------------ 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. ------------------------------------------------------------------------------------------------------------------ 3 ------------------------------------------------------------------------------------------------------------------ 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 ($) ------------------------------------------------------------------------------------------------------------------ VA_CLAIM_FILED_DATE Date VA Claim Was Filed With the Veterans Admin MM/DD/YYYY ------------------------------------------------------------------------------------------------------------------ VA_CLAIM_PAID_DATE Date Veterans Admin. Disbursed VA Claim Payment MM/DD/YYYY ------------------------------------------------------------------------------------------------------------------ VA_CLAIM_PAID_AMT Amount Veterans Admin. Paid on VA Claim 2 No commas(,) or dollar signs ($) ------------------------------------------------------------------------------------------------------------------
4 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 Code Delinquency Description ------------------------------------------------------------------- 001 FNMA-Death of principal mortgagor ------------------------------------------------------------------- 002 FNMA-Illness of principal mortgagor ------------------------------------------------------------------- 003 FNMA-Illness of mortgagor's family member ------------------------------------------------------------------- 004 FNMA-Death of mortgagor's family member ------------------------------------------------------------------- 005 FNMA-Marital difficulties ------------------------------------------------------------------- 006 FNMA-Curtailment of income ------------------------------------------------------------------- 007 FNMA-Excessive Obligation ------------------------------------------------------------------- 008 FNMA-Abandonment of property ------------------------------------------------------------------- 5 ------------------------------------------------------------------- 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 ------------------------------------------------------------------ 6 Exhibit IIC: Standard File Layout - Master Servicing
------------------------------------------------------------------------------------------------------------------------------- Column Name Description Decimal Format Comment Max Size ------------------------------------------------------------------------------------------------------------------------------- SER_INVESTOR_NBR A value assigned by the Servicer to Text up to 10 digits 20 define a group of loans. ------------------------------------------------------------------------------------------------------------------------------- LOAN_NBR A unique identifier assigned to each Text up to 10 digits 10 loan by the investor. ------------------------------------------------------------------------------------------------------------------------------- SERVICER_LOAN_NBR A unique number assigned to a loan by Text up to 10 digits 10 the Servicer. This may be different than the LOAN_NBR. ------------------------------------------------------------------------------------------------------------------------------- BORROWER_NAME The borrower name as received in the Maximum length of 30 (Last, First) 30 file. It is not separated by first and last name. ------------------------------------------------------------------------------------------------------------------------------- SCHED_PAY_AMT Scheduled monthly principal and 2 No commas(,) or dollar signs ($) 11 scheduled interest payment that a borrower is expected to pay, P&I constant. ------------------------------------------------------------------------------------------------------------------------------- NOTE_INT_RATE The loan interest rate as reported by 4 Max length of 6 6 the Servicer. ------------------------------------------------------------------------------------------------------------------------------- NET_INT_RATE The loan gross interest rate less the 4 Max length of 6 6 service fee rate as reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- SERV_FEE_RATE The servicer's fee rate for a loan as 4 Max length of 6 6 reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- SERV_FEE_AMT The servicer's fee amount for a loan as 2 No commas(,) or dollar signs ($) 11 reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- NEW_PAY_AMT The new loan payment amount as reported 2 No commas(,) or dollar signs ($) 11 by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- NEW_LOAN_RATE The new loan rate as reported by the 4 Max length of 6 6 Servicer. ------------------------------------------------------------------------------------------------------------------------------- ARM_INDEX_RATE The index the Servicer is using to 4 Max length of 6 6 calculate a forecasted rate. ------------------------------------------------------------------------------------------------------------------------------- ACTL_BEG_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs ($) 11 at the beginning of the processing cycle. ------------------------------------------------------------------------------------------------------------------------------- ACTL_END_PRIN_BAL The borrower's actual principal balance 2 No commas(,) or dollar signs ($) 11 at the end of the processing cycle. ------------------------------------------------------------------------------------------------------------------------------- BORR_NEXT_PAY_DUE_DATE The date at the end of processing cycle MM/DD/YYYY 10 that the borrower's next payment is due to the Servicer, as reported by Servicer. ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_1 The first curtailment amount to be 2 No commas(,) or dollar signs ($) 11 applied. ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_1 The curtailment date associated with the MM/DD/YYYY 10 first curtailment amount. ------------------------------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_1 The curtailment interest on the first 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_2 The second curtailment amount to be 2 No commas(,) or dollar signs ($) 11 applied. ------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_2 The curtailment date associated with the MM/DD/YYYY 10 second curtailment amount. ------------------------------------------------------------------------------------------------------------------------------- CURT_ADJ_ AMT_2 The curtailment interest on the second 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_AMT_3 The third curtailment amount to be 2 No commas(,) or dollar signs ($) 11 applied. ------------------------------------------------------------------------------------------------------------------------------- SERV_CURT_DATE_3 The curtailment date associated with the MM/DD/YYYY 10 third curtailment amount. ------------------------------------------------------------------------------------------------------------------------------- CURT_ADJ_AMT_3 The curtailment interest on the third 2 No commas(,) or dollar signs ($) 11 curtailment amount, if applicable. ------------------------------------------------------------------------------------------------------------------------------- PIF_AMT The loan "paid in full" amount as 2 No commas(,) or dollar signs ($) 11 reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- PIF_DATE The paid in full date as reported by the MM/DD/YYYY 10 Servicer. ------------------------------------------------------------------------------------------------------------------------------- ACTION_CODE The standard FNMA numeric code used to Action Code Key: 15=Bankruptcy, 2 indicate the default/delinquent status of 30=Foreclosure, , 60=PIF, a particular loan. 63=Substitution, 65=Repurchase,70=REO ------------------------------------------------------------------------------------------------------------------------------- INT_ADJ_AMT The amount of the interest adjustment as 2 No commas(,) or dollar signs ($) 11 reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- SOLDIER_SAILOR_ADJ_AMT The Soldier and Sailor Adjustment 2 No commas(,) or dollar signs ($) 11 amount, if applicable. ------------------------------------------------------------------------------------------------------------------------------- NON_ADV_LOAN_AMT The Non Recoverable Loan Amount, if 2 No commas(,) or dollar signs ($) 11 applicable. ------------------------------------------------------------------------------------------------------------------------------- LOAN_LOSS_AMT The amount the Servicer is passing as a 2 No commas(,) or dollar signs ($) 11 loss, if applicable. ------------------------------------------------------------------------------------------------------------------------------- SCHED_BEG_PRIN_BAL The scheduled outstanding principal 2 No commas(,) or dollar signs ($) 11 amount due at the beginning of the cycle date to be passed through to investors. ------------------------------------------------------------------------------------------------------------------------------- SCHED_END_PRIN_BAL The scheduled principal balance due to 2 No commas(,) or dollar signs ($) 11 investors at the end of a processing cycle. ------------------------------------------------------------------------------------------------------------------------------- SCHED_PRIN_AMT The scheduled principal amount as 2 No commas(,) or dollar signs ($) 11 reported by the Servicer for the current cycle -- only applicable for Scheduled/Scheduled Loans. ------------------------------------------------------------------------------------------------------------------------------- SCHED_NET_INT The scheduled gross interest amount less 2 No commas(,) or dollar signs ($) 11 the service fee amount for the current cycle as reported by the Servicer -- only applicable for Scheduled/Scheduled Loans. ------------------------------------------------------------------------------------------------------------------------------- ACTL_PRIN_AMT The actual principal amount collected by 2 No commas(,) or dollar signs ($) 11 the Servicer for the current reporting cycle -- only applicable for Actual/Actual Loans. ------------------------------------------------------------------------------------------------------------------------------- ACTL_NET_INT The actual gross interest amount less 2 No commas(,) or dollar signs ($) 11 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 ($) 11 borrower prepays on his loan as reported by the Servicer. ------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- PREPAY_PENALTY_ WAIVED The prepayment penalty amount for the 2 No commas(,) or dollar signs ($) 11 loan waived by the servicer. ------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- MOD_DATE The Effective Payment Date of the MM/DD/YYYY 10 Modification for the loan. ------------------------------------------------------------------------------------------------------------------------------- MOD_TYPE The Modification Type. Varchar - value can be alpha or 30 numeric ------------------------------------------------------------------------------------------------------------------------------- DELINQ_P&I_ADVANCE_AMT The current outstanding principal and 2 No commas(,) or dollar signs ($) 11 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. (i) (ii) 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 Servicing Officer certification. * Unusual or extraordinary items may require further documentation. 13. The total of lines 1 through 12. (iii) Credits: 14-21. Complete as applicable. Required documentation: * Copy of the HUD 1 from the REO sale. If a 3rd Party Sale, bid instructions and Escrow Agent / Attorney Letter of Proceeds Breakdown. * Copy of EOB for any MI or gov't guarantee * All other credits need to be clearly defined on the 332 form 22. The total of lines 14 through 21. Please Note: For HUD/VA loans, use line (18a) for Part A/Initial proceeds and line (18b) for Part B/Supplemental proceeds. Total Realized Loss (or Amount of Any Gain) ------------------------------------------- 23. The total derived from subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis ( ). Exhibit 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 ______________(18b) HUD Part B (19) Pool Insurance Proceeds ______________(19) (20) Proceeds from Sale of Acquired Property ______________(20) (21) Other (itemize) ______________(21) ________________________________________ ______________(21) Total Credits $______________(22) Total Realized Loss (or Amount of Gain) $______________(23) Escrow Disbursement Detail ------------------------------------------------------------------------------- Type Date Paid Period of Total Paid Base Penalties Interest (Tax /Ins.) Coverage Amount ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- EXHIBIT III SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria";
------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- General Servicing Considerations ------------------------------------------------------------------------------------------------- Policies and procedures are instituted to monitor any X performance or other triggers and events of default in 1122(d)(1)(i) accordance with the transaction agreements. ------------------------------------------------------------------------------------------------- If any material servicing activities are outsourced to X third parties, policies and procedures are instituted to monitor the third party's performance and compliance with 1122(d)(1)(ii) such servicing activities. ------------------------------------------------------------------------------------------------- Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the mortgage loans are maintained. ------------------------------------------------------------------------------------------------- A fidelity bond and errors and omissions policy is in X effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of 1122(d)(1)(iv) the transaction agreements. ------------------------------------------------------------------------------------------------- Cash Collection and Administration ------------------------------------------------------------------------------------------------- Payments on mortgage loans are deposited into the X appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the 1122(d)(2)(i) transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made via wire transfer on behalf of an X obligor or to an investor are made only by authorized 1122(d)(2)(ii) personnel. ------------------------------------------------------------------------------------------------- Advances of funds or guarantees regarding collections, cash X flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved 1122(d)(2)(iii) as specified in the transaction agreements. ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., X with respect to commingling of cash) as set forth in the 1122(d)(2)(iv) transaction agreements. ------------------------------------------------------------------------------------------------- Each custodial account is maintained at a federally insured X depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1 (b)(1) of the 1122(d)(2)(v) Securities Exchange Act. ------------------------------------------------------------------------------------------------- Unissued checks are safeguarded so as to prevent X 1122(d)(2)(vi) unauthorized access. ------------------------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all X asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of 1122(d)(2)(vii) days specified in the transaction agreements. ------------------------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Reports to investors, including those to be filed with the X Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of 1122(d)(3)(i) mortgage loans serviced by the Servicer. ------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other 1122(d)(3)(ii) terms set forth in the transaction agreements. ------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction X 1122(d)(3)(iii) agreements. ------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or X 1122(d)(3)(iv) custodial bank statements. ------------------------------------------------------------------------------------------------- Pool Asset Administration ------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. ------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X 1122(d)(4)(ii) required by the transaction agreements ------------------------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool X are made, reviewed and approved in accordance with any 1122(d)(4)(iii) conditions or requirements in the transaction agreements. ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in X accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan 1122(d)(4)(iv) documents. ------------------------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree X with the Servicer's records with respect to an obligor's 1122(d)(4)(v) unpaid principal balance. ------------------------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's X mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. ------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance X plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other 1122(d)(4)(vii) requirements established by the transaction agreements. ------------------------------------------------------------------------------------------------- Records documenting collection efforts are maintained X during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency 1122(d)(4)(viii) is deemed temporary (e.g., illness or unemployment). ------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for X mortgage loans with variable rates are computed based on 1122(d)(4)(ix) the related mortgage loan documents. ------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as X escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified 1122(d)(4)(x) in the transaction agreements. ------------------------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or X insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of 1122(d)(4)(xi) days specified in the transaction agreements. ------------------------------------------------------------------------------------------------- Any late payment penalties in connection with any payment X to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the 1122(d)(4)(xii) late payment was due to the obligor's error or omission. ------------------------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted X within two business days to the obligor's records maintained by the servicer, or such other number of days 1122(d)(4)(xiii) specified in the transaction agreements. ------------------------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are X recognized and recorded in accordance with the transaction 1122(d)(4)(xiv) agreements. ------------------------------------------------------------------------------------------------- Any external enhancement or other support, identified in X Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, 1122(d)(4)(xv) is maintained as set forth in the transaction agreements. -------------------------------------------------------------------------------------------------
[WELLS FARGO BANK, NATIONAL ASSOCIATION] [NAME OF SUBSERVICER] Date: ------------------------------------------- By: ------------------------------------------- Name: Title: