EX-33.B 4 ex33b.txt citibank Citibank, N.A. Citibank Custodial Operations 5280 Corporate Drive MC0052 Frederick, MD 21740 Management Assessment of Compliance with Applicable Servicing Criteria 1. Citibank, N.A., (the "Custodian") is responsible for assessing compliance with the servicing criteria applicable to it under paragraph (d) of Item 1122 of Regulation AB, as set forth in Exhibit A hereto, in connection with the servicing of residential mortgage loans for which the Custodian performs a custodial servicing function pursuant to a custodial agreement with Citigroup Mortgage Loan Trust Inc. for post December 31, 2005 transactions ("the Platform"), as of and for the year ended December 31, 2006; 2. Except as set forth in paragraph 3 below, the Custodian used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess the compliance with the applicable servicing criteria as of and for the year ended December 31, 2006; 3. All criteria on Exhibit A hereto are inapplicable to the Custodian based or the activities it performs with respect to asset-backed securities transactions, except for 1122(d)(4)(i) and 1122(d)(4)(ii); 4. The Custodian has complied, in all material respects, with the applicable servicing criteria as of and for the year ended December 31, 2006; 5. KPMG LLP, a registered public accounting firm, has issued an attestation report on the Custodian's assessment of compliance with the applicable servicing criteria as of and for the year ended December 31, 2006. March 19, 2007 By: /s/ Herb Gover ------------------ Name: Herb Gover Title: Executive Vice President, North American Consumer Asset Operations EXHIBIT A
-------------------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Inapplicable Servicing Criteria Servicing Criteria -------------------------------------------------------------------------------------------------------------------------------- Performed by Performed Vendor(s) for Directly which Custodian by is Responsible Reference Criteria Custodian(2) Party(3) -------------------------------------------------------------------------------------------------------------------------------- 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 X 1122(d)(1)(iii) back-up servicer for the mortgage loans are maintained, -------------------------------------------------------------------------------------------------------------------------------- A fidelity bond and errors and omissions policy is in effect X 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 the 1122(d)(1)(iv) 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 obligor X 1122(d)(2)(ii) or to an investor are made only by authorized 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 as 1122(d)(2)(iii) specified in the transaction agreements. -------------------------------------------------------------------------------------------------------------------------------- The related accounts for the transaction, such as cash X reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., 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-l(b)(l) of the Securities 1122(d)(2)(v) Exchange Act. -------------------------------------------------------------------------------------------------------------------------------- Unissued checks are safeguarded so as to prevent unauthorized X 1122(d)(2)(vi) access. --------------------------------------------------------------------------------------------------------------------------------
---------- (1) Check only criteria that Servicer neither performs nor takes responsibilty for the performance of a Vendor. (2) If checked, describe in footnote any portion of the applicable criterion that is not performed by the Servicer (because performed by Vendor or performed by another servicing function participant). See footnotes to Exhibit A at end of document. (3) If checked, describe in footnote the portion of the applicable criterion (if less than all) that is performed by the Vendor. See footnotes to Exhibit A at end of document.
-------------------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Inapplicable Servicing Criteria Servicing Criteria -------------------------------------------------------------------------------------------------------------------------------- Performed by Performed Vendor(s) for Directly which Custodian by is Responsible Reference Criteria Custodian(2) Party(3) -------------------------------------------------------------------------------------------------------------------------------- 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 transactidn 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 days specified in 1122(d)(2)(vii) the transaction agreements. --------------------------------------------------------------------------------------------------------------------------------- Investor Remittances and Reporting --------------------------------------------------------------------------------------------------------------------------------- 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 mortgage loans serviced by the 1122(d)(3)(i) Servicer. --------------------------------------------------------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in X accordance with timeframes, distribution priority and other terms 1122(d)(3)(ii) set forth in the transaction agreements. --------------------------------------------------------------------------------------------------------------------------------- Disbursements made to an investor are posted within two X business days to the Servicer's investor records, or such 1122(d)(3)(iii) other number of days specified in the transaction agreements. --------------------------------------------------------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports X agree with cancelled checks, or other form of payment, or 1122(d)(3)(iv) custodial bank statements. --------------------------------------------------------------------------------------------------------------------------------- Pool Asset Administration --------------------------------------------------------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as X(i) required by the transaction agreements or related mortgage 1122(d)(4)(i) loan documents. --------------------------------------------------------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as X(ii) 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. --------------------------------------------------------------------------------------------------------------------------------- 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 1122(d)(4)(iv) accordance with the related mortgage loan 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. ---------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Inapplicable Servicing Criteria Servicing Criteria -------------------------------------------------------------------------------------------------------------------------------- Performed by Performed Vendor(s) for Directly which Custodian by is Responsible Reference Criteria Custodian(2) Party(3) -------------------------------------------------------------------------------------------------------------------------------- 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 authorised personnel in accordance with the transaction agreements and related pool 1122(d)(4)(vi) asset documents. --------------------------------------------------------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, X 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 during X the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records arc 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 is deemed temporary (e.g., illness 1122(d)(4)(viii) or unemployment). -------------------------------------------------------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage X loans with variable rates are computed based on the related 1122(d)(4)(ix) mortgage loan documents. -------------------------------------------------------------------------------------------------------------------------------- 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 1122(d)(4)(x) specified 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 1122(d)(4)(xi) number of 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 specified in 1122(d)(4)(xiii) 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 Item X 1114(a)(1) through (3) or Item 1115 of Regulation AB, is 1122(d)(4)(xv) maintained as set forth in the transaction agreements. --------------------------------------------------------------------------------------------------------------------------------
---------- Footnotes to Exhibit A (i) The custodian is required to safeguard the mortgage file and control the release of the related file. (ii) The custodian is required to safeguard the mortgage file and control the release of the related file.