ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENTAssignment and Assumption Agreement |
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DEUTSCHE BANK NATIONAL TRUST COMPANY | GS MORTGAGE SECURITIES CORP | SUNTRUST MORTGAGE, INC | WELLS FARGO BANK, NATIONAL ASSOCIATION | Goldman Sachs Mortgage Company. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Search Assignment and Assumption Agreement by:
Exhibit 99.10
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EXECUTION COPY
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ASSIGNMENT, ASSUMPTION AND
RECOGNITION AGREEMENT
among
GS MORTGAGE
SECURITIES CORP.,
as
Assignor
DEUTSCHE BANK NATIONAL
TRUST COMPANY, AS TRUSTEE,
as
Assignee
and
SUNTRUST
MORTGAGE, INC.,
as
Servicer
and as
acknowledged by
WELLS FARGO BANK,
NATIONAL ASSOCIATION,
as Master Servicer
Dated
as of
October
30, 2006
===============================================================================
<PAGE>
ASSIGNMENT, ASSUMPTION AND
RECOGNITION AGREEMENT
ASSIGNMENT, ASSUMPTION
AND RECOGNITION AGREEMENT made this
30th day of October, 2006 (this "Assignment Agreement"), among
SunTrust
Mortgage, Inc., a Virginia corporation (the "Servicer"), Deutsche
Bank
National Trust Company, not in its individual capacity but solely as trustee
(the "Trustee") on behalf of GSAA Home Equity Trust 2006-17 (the
"Assignee"),
and GS Mortgage Securities Corp., a Delaware corporation (the
"Assignor" or
"Depositor"), and as acknowledged by Wells Fargo Bank, National
Association,
as master servicer (the "Master Servicer").
WHEREAS, Goldman Sachs
Mortgage Company ("GSMC") and the
Servicer have entered into the Amended and Restated Flow Seller's Warranties
and Servicing Agreement, dated as of December 1, 2005, as amended by Amendment
No. 1 to the Amended and Restated Flow Seller's Warranties and Servicing
Agreement, dated as of July 1, 2006 (the "Servicing Agreement"),
pursuant to
which the Servicer sold to GSMC certain mortgage loans listed on the mortgage
loan schedule attached as an exhibit to the Servicing Agreement;
WHEREAS, GSMC has
assigned and conveyed certain mortgage
loans (the "Mortgage Loans"), which Mortgage Loans are subject to the
provisions of the Servicing Agreement, to the Assignor pursuant to an
Assignment, Assumption and Recognition Agreement, dated as of October 30, 2006
(the "GSMC Assignment Agreement");
WHEREAS, the Assignee
has agreed on certain terms and
conditions to purchase from the Assignor the Mortgage Loans acquired by the
Assignor pursuant to the GSMC Assignment Agreement, which Mortgage Loans are
listed on the mortgage loan schedule attached as Exhibit 1 hereto (the
"Mortgage Loan Schedule"); and
WHEREAS, pursuant to a
Master Servicing and Trust Agreement,
dated as of October 1, 2006 (the "Trust Agreement"), among the
Depositor, the
Trustee, Deutsche Bank National Trust Company, as a custodian, U.S. Bank
National Association, as a custodian, The Bank of New York, as a custodian and
Wells Fargo Bank, National Association, as master servicer (in such capacity,
the "Master Servicer") and as securities administrator, the Assignor
will
transfer the Mortgage Loans to the Assignee, together with the Assignor's
rights under the Servicing Agreement, to the extent relating to the Mortgage
Loans (other than the rights of the Assignor to indemnification thereunder).
NOW THEREFORE, in
consideration of the mutual promises
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Assignment and
Assumption.
(a) The Assignor hereby
assigns to the Assignee, as of the
date hereof, all of its right, title and interest in and to the Mortgage Loans
and the GSMC Assignment Agreement (including without limitation the rights of
GSMC under the Servicing Agreement to the extent assigned to the Assignor
under the GSMC Assignment Agreement) from and after the date hereof, and the
Assignee hereby assumes all of the Assignor's obligations under the Servicing
Agreement, to the extent relating to the Mortgage Loans from and after the
date hereof. The
<PAGE>
Servicer hereby acknowledges such assignment and assumption and hereby agrees
to the release of the Assignor from any obligations under the Servicing
Agreement from and after the date hereof, to the extent relating to the
Mortgage Loans.
(b) The Assignor
represents and warrants to the Assignee
that the Assignor has not taken any action which would operate to impair or
encumber the Assignor's ownership interest in the Mortgage Loans since the
date of the Servicing Agreement.
(c) The Servicer and
the Assignor shall have the right to
amend, modify or terminate the Servicing Agreement without the joinder of the
Assignee with respect to mortgage loans not conveyed to the Assignee
hereunder, provided, however, that such amendment, modification or termination
shall not affect or be binding on the Assignee.
2. Accuracy of
Servicing Agreement. The Servicer and the
Assignor represent and warrant to the Assignee that (i) attached hereto as
Exhibit 2 is a true, accurate and complete copy of the Servicing Agreement,
(ii) the Servicing Agreement is in full force and effect as of the date
hereof, (iii) the Servicing Agreement has not been amended or modified in any
respect as to the Mortgage Loans and (iv) no notice of termination has been
given to the Servicer under the Servicing Agreement. The Servicer, in its
capacity as seller and/or servicer under the Servicing Agreement further
represents and warrants that the representations and warranties contained in
Section 3.1 of the Servicing Agreement are true and correct as of the date
hereof, and the representations and warranties regarding the Mortgage Loans
contained in Section 3.2 of the Servicing Agreement were true and correct as
of the Closing Date (as such term is defined in the Servicing Agreement).
3. Recognition of
Assignee.
(a) From and after the
date hereof, both the Assignor and
the Servicer shall note the transfer of the Mortgage Loans to the Assignee in
their respective books and records, and shall recognize the Assignee as the
owner of the Mortgage Loans, and the Servicer, notwithstanding anything herein
to the contrary, shall service all of the Mortgage Loans for the benefit of
the Assignee pursuant to the Servicing Agreement the terms of which are
incorporated herein by reference. It is the intention of the Assignor,
Servicer and Assignee that the Servicing Agreement shall be binding upon and
inure to the benefit of the Servicer and the Assignee and their successors and
assigns as to the Mortgage Loans.
(b) The Servicer
further acknowledges that, from and after
the date hereof, it (and any of its successors under the Servicing Agreement)
will be subject to the supervision of the Master Servicer and that the Master
Servicer, acting on behalf of the Assignee as the owner of the Mortgage Loans,
shall have the same rights as were assigned by GSMC, in its capacity as the
original "Purchaser" under the Servicing Agreement, to the Assignor
under the
GSMC Assignment Agreement, and further assigned hereunder by the Assignor to
the Assignee.
(c) All reports and
other data as to the Mortgage Loans
required to be delivered by the Servicer to the "Purchaser" under the
Servicing Agreement shall be delivered to the Master Servicer at the address
set forth in Section 10 hereof. All remittances required to be
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<PAGE>
made to the Trustee, as the successor in interest to the Assignor under the
Servicing Agreement, shall be made instead to the Master Servicer by wire
transfer to the following account:
Wells Fargo Bank,
National Association
ABA #: 121000248
For credit to: SAS
Clearing
Acct #: 3970771416
FFC to: GSAA 2006-17
Acct # 50954900
(d) Monthly Reporting
Notwithstanding
anything to the contrary in the Servicing
Agreement, with respect to the Mortgage Loans, not later than the tenth (10th)
calendar day of each month (or if such tenth calendar day is not a Business
Day, the immediately succeeding Business Day), the Servicer shall furnish to
the Master Servicer (i) (a) monthly loan data in the format set forth in
Exhibit 3 hereto (or in such other format mutually agreed-upon between the
Servicer and the Master Servicer), (b) default loan data in the format set
forth in Exhibit 4 hereto (or in such other format mutually agreed-upon
between the Servicer and the Master Servicer) and (c) information regarding
realized losses and gains in the format set forth in Exhibit 5 hereto (or in
such other format mutually agreed-upon between the Servicer and the Master
Servicer), in each case relating to the period ending on the last day of the
preceding calendar month, (ii) all such information required pursuant to
clause (i)(a) above on a magnetic tape, electronic mail, or other similar
media reasonably acceptable to the Master Servicer and (iii) all supporting
documentation with respect to the information required under the preceding
paragraph.
4. Representations and
Warranties of the Assignee. The
Assignee hereby represents and warrants to the Assignor and the Servicer as
follows:
(a) Decision to
Purchase. The Assignee is a sophisticated
investor able to evaluate the risks and merits of the transactions
contemplated hereby, and that it has not relied in connection therewith upon
any statements or representations of the Assignor or the Servicer other than
those contained in the Servicing Agreement or this Assignment Agreement.
(b) Authority. The
Assignee is duly and legally authorized
to enter into this Assignment Agreement and to perform its obligations
hereunder and under the Servicing Agreement.
(c) Enforceability.
This Assignment 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 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).
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<PAGE>
5. Representations and
Warranties of the Assignor. The
Assignor hereby represents and warrants to the Assignee and the Servicer as
follows:
(a) Organization. The
Assignor has been duly organized and
is validly existing as a corporation in good standing under the laws of the
State of Delaware with full power and authority (corporate and other) to enter
into and perform its obligations under the Servicing Agreement and this
Assignment Agreement.
(b) Enforceability.
This Assignment Agreement has been duly
executed and delivered by the Assignor, and, assuming due authorization,
execution and delivery by each of the other parties hereto, constitutes a
legal, valid, and binding agreement of the Assignor, enforceable against it in
accordance with its terms, subject to bankruptcy, insolvency, reorganization,
moratorium, or other similar laws affecting creditors' rights generally and to
general principles of equity regardless of whether enforcement is sought in a
proceeding in equity or at law.
(c) No Consent. The
execution, delivery and performance by
the Assignor of this Assignment Agreement and the consummation of the
transactions contemplated hereby do not require the consent or approval of,
the giving of notice to, the registration with, or the taking of any other
action in respect of, any state, federal or other governmental authority or
agency, except such as has been obtained, given, effected or taken prior to
the date hereof.
(d) Authorization; No
Breach. The execution and delivery of
this Assignment Agreement have been duly authorized by all necessary corporate
action on the part of the Assignor; neither the execution and delivery by the
Assignor of this Assignment Agreement, nor the consummation by the Assignor of
the transactions herein contemplated, nor compliance by the Assignor with the
provisions hereof, will conflict with or result in a breach of, or constitute
a default under, any of the provisions of the governing documents of the
Assignor or any law, governmental rule or regulation or any material judgment,
decree or order binding on the Assignor or any of its properties, or any of
the provisions of any material indenture, mortgage, deed of trust, contract or
other instrument to which the Assignor is a party or by which it is bound.
(e) Actions;
Proceedings. There are no actions, suits or
proceedings pending or, to the knowledge of the Assignor, threatened, before
or by any court, administrative agency, arbitrator or governmental body (A)
with respect to any of the transactions contemplated by this Assignment
Agreement or (B) with respect to any other matter that in the judgment of the
Assignor will be determined adversely to the Assignor and will, if determined
adversely to the Assignor, materially adversely affect its ability to perform
its obligations under this Assignment Agreement.
It is understood and
agreed that the representations and
warranties set forth in this Section 5 shall survive delivery of the
respective Mortgage Loan documents to the Assignee or its designee and shall
inure to the benefit of the Assignee and its assigns notwithstanding any
restrictive or qualified endorsement or assignment. Upon the discovery by the
Assignor or the Assignee and its assigns of a breach of the foregoing
representations and warranties, the party discovering such breach shall give
prompt written notice to the other parties to this Assignment
-4-
<PAGE>
Agreement, and in no event later than two (2) Business Days from the date of
such discovery. It is understood and agreed that the obligations of the
Assignor set forth in Section 6 to repurchase a Mortgage Loan constitute the
sole remedies available to the Assignee and its assigns on their behalf
respecting a breach of the representations and warranties contained in this
Section 5.
It is understood and
agreed that, with respect to the
Mortgage Loans, the Assignor has made no representations or warranties to the
Assignee other than those contained in this Section 5, and no other affiliate
of the Assignor has made any representations or warranties of any kind to the
Assignee.
6. Repurchase of
Mortgage Loans. Upon discovery or notice of
any breach by the Assignor of any representation, warranty or covenant under
this Assignment Agreement that materially and adversely affects the value of
any Mortgage Loan or the interest of the Assignee therein (it being understood
that any such defect or breach shall be deemed to have materially and
adversely affected the value of the related Mortgage Loan or the interest of
the Assignee therein if the Assignee incurs a loss as a result of such defect
or breach), the Assignee promptly shall request that the Assignor cure such
breach and, if the Assignor does not cure such breach in all material respects
within sixty (60) days from the date on which it is notified of the breach,
the Assignee may enforce the Assignor's obligation hereunder to purchase such
Mortgage Loan from the Assignee at the Repurchase Price as defined in the
Servicing Agreement. Notwithstanding the foregoing, however, if such breach is
a Qualification Defect as defined in the Servicing Agreement, such cure or
repurchase must take place within seventy-five (75) days after the defect is
discovered.
In the event the
Servicer has breached a representation or
warranty under the Servicing Agreement that is substantially identical to, or
covers the same matters as, a representation or warranty breached by the
Assignor hereunder, the Assignee shall first proceed against the Servicer to
cure such breach or repurchase the affected Mortgage Loan from the Assignee.
If the Servicer does not within sixty (60) days after notification of the
breach, take steps to cure such breach (which may include certifying to
progress made and requesting an extension of the time to cure such breach, as
permitted under the Servicing Agreement) or repurchase such Mortgage Loan, the
Assignee shall be entitled to enforce the obligations of the Assignor
hereunder to cure such breach or to repurchase such Mortgage Loan from the
Trust. In such event, the Assignor shall succeed to the rights of the Assignee
to enforce the obligations of the Servicer to cure such breach or repurchase
such Mortgage Loan under the terms of the Servicing Agreement with respect to
such Mortgage Loan. In the event of a repurchase of any Mortgage Loan by the
Assignor, the Trustee shall promptly deliver to the Assignor or its designee
the related Mortgage File and shall assign to the Assignor all of the
Assignee's rights under the Servicing Agreement, but only insofar as the
Servicing Agreement relates to such Mortgage Loan.
Except as specifically
set forth herein, the Assignee shall
have no responsibility to enforce any provision of this Assignment Agreement,
to oversee compliance hereof, or to take notice of any breach or default
thereof.
-5-
<PAGE>
7. Termination;
Optional Clean-Up Call.
In connection with the
Trust Agreement, the Master Servicer
hereby agrees to the following obligations described below. For purposes of
this Section 7 only, any capitalized term used but not defined in this
Assignment Agreement has the same meaning assigned thereto in the Trust
Agreement.
In the event that a
Person specified in Section 11.01 of the
Trust Agreement chooses to exercise its option set forth therein to purchase
the Mortgage Loans and REO Properties or to conduct an Auction Call for such
property of the Trust Fund, as the case may be, by no later than the 10th day
of the month of the final distribution, such Person shall notify the
Depositor, the Trustee and the Securities Administrator of the final
Distribution Date and of the applicable purchase or sale price of the Mortgage
Loans and REO Properties determined and in the manner as provided in the Trust
Agreement.
In the event the
Mortgage Loans and REO Properties are
purchased or sold pursuant to Section 11.01 of the Trust Agreement, the Master
Servicer shall remit to the Securities Administrator the applicable
Termination Price on the Remittance Date immediately preceding the applicable
final Distribution Date. Upon such final deposit with respect to the Trust
Fund and the receipt by the Securities Administrator and the Custodians of a
Request for Release therefor, the Master Servicer shall direct the Custodians
to release to the Master Servicer or its designee the Custodial Files for the
Mortgage Loans.
8. Continuing Effect.
Except as contemplated hereby, the
Servicing Agreement shall remain in full force and effect in accordance with
their respective terms.
9. Governing Law.
THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE
GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
EACH PARTY HERETO HEREBY
KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION
WITH, THIS ASSIGNMENT AGREEMENT, OR ANY OTHER DOCUMENTS AND INSTRUMENTS
EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF SUCH PARTY. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS ASSIGNMENT
AGREEMENT.
10. Notices. Any
notices or other communications permitted
or required hereunder or under the Servicing Agreement shall be in writing and
shall be deemed conclusively to have been given if personally delivered at or
mailed by registered mail, postage
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<PAGE>
prepaid, and return receipt requested or transmitted by telex, telegraph or
telecopier and confirmed by a similar mailed writing, to:
(a) in the case of the Servicer,
SunTrust
Mortgage, Inc.
1001 Semmes
Avenue, 2nd Floor
Richmond, VA
23224
Attention:
Annette Holman-Foreman
Telephone (804) 291-0262
Facsimile:
(804) 291-0950
or such other address as may hereafter be furnished by the Servicer;
(b) in the case of the Master Servicer,
Wells Fargo
Bank, National Association
P.O. Box 98
Columbia,
Maryland 21046
Attention: Corporate Trust
Services, GSAA 2006-17
or in the case
of overnight deliveries:
Wells Fargo
Bank, National Association
9062 Old
Annapolis Road
Columbia,
Maryland 21045
Attention: Corporate Trust
Services, GSAA 2006-17
or such other address as may hereafter be furnished by the Master Servicer;
(c) in the case of the Trustee or the
Assignee,
Deutsche Bank
National Trust Company
1761 East St.
Andrew Place
Santa Ana,
California 92705-4934
Attention:
Trust Administration - GS0617
Tel.: (714)
247-6000
or such other address as may hereafter be furnished by the Trustee or the
Assignee, and
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<PAGE>
(d) in the case of the Assignor,
GS Mortgage
Securities Corp.
85 Broad
Street
New York, New York 10004
Attention: Chris Gething
Tel.: (212)
902-1434
Fax: (212) 256-5107
or such other address as may hereafter be furnished by the Assignor.
11. Counterparts. This Assignment
Agreement may be executed
in counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute one and the
same instrument.
12. Definitions. Any capitalized term used but
not defined
in this Assignment Agreement has the meaning assigned thereto in the Servicing
Agreement.
13. Trustee Capacity.
It is expressly understood and agreed
by the parties hereto that (i) this Assignment Agreement is executed and
delivered by Deutsche Bank National Trust Company, not individually or
personally but solely on behalf of GSAA Home Equity Trust 2006-17, as the
Assignee, in the exercise of the powers and authority conferred and vested in
it, (ii) each of the representations, undertakings and agreements by Deutsche
Bank National Trust Company is made and intended for the purpose of binding
only the GSAA Home Equity Trust 2006-17, (iii) nothing herein contained shall
be construed as creating any liability for Deutsche Bank National Trust
Company, individually or personally, to perform any covenant (either express
or implied) contained herein, and all such liability, if any, is hereby
expressly waived by the parties hereto, and such waiver shall bind any third
party making a claim by or through one of the parties hereto, and (iv) under
no circumstances shall Deutsche Bank National Trust Company be personally
liable for the payment of any indebtedness or expenses of the GSAA Home Equity
Trust 2006-17, or be liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the GSAA Home
Equity Trust 2006-17 under this Assignment Agreement, the Trust Agreement or
any related document.
14. Third Party Beneficiary. The
parties agree that the
Master Servicer is intended to be, and shall have the rights of, a third party
beneficiary of this Assignment Agreement.
-8-
<PAGE>
IN WITNESS WHEREOF, the parties hereto
have executed this
Assignment Agreement the day and year first above written.
GS
MORTGAGE SECURITIES CORP., as Assignor
By:
/s/ Michelle Gill
--------------------------------------
Name: Michelle Gill
Title: Vice President
DEUTSCHE BANK NATIONAL TRUST COMPANY,
not
in its individual capacity but
solely as Trustee
By:
/s/ Melissa Wilman
-----------------------------------
Name: Melissa Wilman
Title: Vice President
SUNTRUST MORTGAGE, INC., as Servicer
By: /s/ Annette Holman-Forman
-----------------------------------
Name: Annette Holman-Forman
Title: Vice President
Acknowledged and Agreed:
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Master Servicer
By: /s/ Patricia M. Russo
---------------------------------
Name: Patricia M. Russo
Title: Vice President
SunTrust
Step 2 AAR
<PAGE>
EXHIBIT 1
Mortgage Loan
Schedule
[On File with the Securities
Administrator as provided by the Depositor]
1-1
<PAGE>
EXHIBIT 2
Servicing
Agreement
[On File with
the Depositor]
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT 3
Standard File Layout - Master
Servicing
-----------------------------------------------------------------------------------------------------------------------------------
Column Name
Description
Decimal Format Comment Max Size
-----------------------------------------------------------------------------------------------------------------------------------
<S>
<C>
<C> <C> <C>
SER_INVESTOR_NBR A value
assigned by the Servicer to define a
Text up to 10 digits 20
group of
loans.
-----------------------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique
identifier assigned to each loan by
Text up to 10 digits 10
the investor.
-----------------------------------------------------------------------------------------------------------------------------------
SERVICER_LOAN_NBR A unique
number assigned to a loan by the
Text up to 10 digits
10
Servicer. This
may be different than the LOAN_NBR.
-----------------------------------------------------------------------------------------------------------------------------------
BORROWER_NAME The borrower
name as received in the file.
Maximum length of 30 (Last, First) 30
It is not
separated by first and last name.
-----------------------------------------------------------------------------------------------------------------------------------
SCHED_PAY_AMT Scheduled
monthly principal and scheduled
2 No commas(,) or dollar
signs ($) 11
interest
payment that a borrower is expected
to pay, P&I constant.
-----------------------------------------------------------------------------------------------------------------------------------
NOTE_INT_RATE The loan
interest rate as reported by the
4 Max length of 6 6
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
NET_INT_RATE The loan gross
interest rate less the 4 Max length of 6 6
service fee
rate as reported by the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_RATE The servicer's
fee rate for a loan as 4 Max length of 6 6
reported by
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_FEE_AMT The servicer's
fee amount for a loan as 2 No commas(,) or dollar signs ($) 11
reported by
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
NEW_PAY_AMT The new loan
payment amount as reported by
2 No commas(,) or dollar
signs ($) 11
the Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
NEW_LOAN_RATE The new loan
rate as reported by the
4 Max length of 6 6
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
ARM_INDEX_RATE The index the Servicer is using to
calculate 4 Max length of 6 6
a forecasted
rate.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_BEG_PRIN_BAL The borrower's
actual principal balance at 2 No commas(,) or dollar signs ($) 11
the beginning
of the processing cycle.
-----------------------------------------------------------------------------------------------------------------------------------
ACTL_END_PRIN_BAL The borrower's
actual principal balance at 2 No commas(,) or dollar signs ($) 11
the end of the processing cycle.
-----------------------------------------------------------------------------------------------------------------------------------
BORR_NEXT_PAY_DUE_DATE The date at
the end of processing cycle that
MM/DD/YYYY 10
the borrower's
next payment is due to the
Servicer, as
reported by Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_1 The first
curtailment amount to be applied.
2 No commas(,) or dollar
signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_DATE_1 The
curtailment date associated with the MM/DD/YYYY 10
first
curtailment amount.
-----------------------------------------------------------------------------------------------------------------------------------
CURT_ADJ_ AMT_1 The
curtailment interest on the first
2 No commas(,) or dollar
signs ($) 11
curtailment amount, if
applicable.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_2 The second
curtailment amount to be applied.
2 No commas(,) or dollar
signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
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 ($) 11
curtailment
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------------------
SERV_CURT_AMT_3 The third
curtailment amount to be applied.
2 No commas(,) or dollar
signs ($) 11
-----------------------------------------------------------------------------------------------------------------------------------
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 ($) 11
curtailment
amount, if applicable.
-----------------------------------------------------------------------------------------------------------------------------------
PIF_AMT The loan
"paid in full" amount as reported 2
No commas(,) or dollar signs ($) 11
by the
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
<PAGE>
PIF_DATE The paid in
full date as reported by the
MM/DD/YYYY 10
Servicer.
-----------------------------------------------------------------------------------------------------------------------------------
Action Code Key: 15=Bankruptcy, 2
30=Foreclosure, , 60=PIF,
ACTION_CODE The standard
FNMA numeric code used to indicate the
63=Substitution,
default/delinquent status of a particular loan. 65=Repurchase,70=REO
-----------------------------------------------------------------------------------------------------------------------------------
INT_ADJ_AMT The amount of
the interest adjustment as






