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POOLING AND SERVICING AGREEMENT

Pooling and Servicing Agreement

POOLING AND SERVICING AGREEMENT | Document Parties: ACE SECURITIES CORP | OPTION ONE MORTGAGE CORPORATION | WELLS FARGO BANK, N.A | HSBC BANK USA, NATIONAL ASSOCIATION You are currently viewing:
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ACE SECURITIES CORP | OPTION ONE MORTGAGE CORPORATION | WELLS FARGO BANK, N.A | HSBC BANK USA, NATIONAL ASSOCIATION

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Title: POOLING AND SERVICING AGREEMENT
Governing Law: New York     Date: 11/16/2006

POOLING AND SERVICING AGREEMENT, Parties: ace securities corp , option one mortgage corporation , wells fargo bank  n.a , hsbc bank usa  national association
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ACE SECURITIES CORP.

Depositor

 

OPTION ONE MORTGAGE CORPORATION

Servicer

 

WELLS FARGO BANK, N.A.

Master Servicer and Securities Administrator

 

 

HSBC BANK USA, NATIONAL ASSOCIATION

Trustee

 

 

POOLING AND SERVICING AGREEMENT

Dated as of October 1, 2006

 

 

 

 

ACE Securities Corp. Home Equity Loan Trust, Series 2006-OP2

Asset Backed Pass-Through Certificates

 

 

 

 



 


 

TABLE OF CONTENTS

 

ARTICLE I DEFINITIONS

10

 

 

 

SECTION 1.01.

Defined Terms

10

SECTION 1.02.

Allocation of Certain Interest Shortfalls

88

 

 

ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

90

 

 

 

SECTION 2.01.

Conveyance of the Mortgage Loans

90

SECTION 2.02.

Acceptance of REMIC I by Trustee

91

SECTION 2.03.

Repurchase or Substitution of Mortgage Loans

91

SECTION 2.04.

Representations and Warranties of the Master Servicer

94

SECTION 2.05.

Representations, Warranties and Covenants of the Servicer

96

SECTION 2.06.

Issuance of the REMIC I Regular Interests and the Class R-I Interest

98

SECTION 2.07.

Conveyance of the REMIC I Regular Interests; Acceptance of REMIC II and REMIC III by the Trustee

99

SECTION 2.08.

Issuance of the Residual Certificates

99

SECTION 2.09.

Establishment of the Trust

99

SECTION 2.10.

Purpose and Powers of the Trust

100

SECTION 2.11.

Representations and Warranties of the Trustee

100

 

 

ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS; ACCOUNTS

101

 

 

 

SECTION 3.01.

The Servicer to Act as Servicer

101

SECTION 3.02.

Sub-Servicing Agreements Between the Servicer and Sub-Servicers

104

SECTION 3.03.

Successor Sub-Servicers

105

SECTION 3.04.

No Contractual Relationship Between Sub-Servicer, Subcontractor, Trustee or the Certificateholders

105

SECTION 3.05.

Assumption or Termination of Sub-Servicing Agreement by Sucessor Servicer

106

SECTION 3.06.

Collection of Certain Mortgage Loan Payments

106

SECTION 3.07.

Collection of Taxes, Assessments and Similar Items; Servicing Accounts

107

SECTION 3.08.

Collection Account and Distribution Account

108

SECTION 3.09.

Withdrawals from the Collection Account and Distribution Account

110

SECTION 3.10.

Investment of Funds in the Investment Accounts

112

SECTION 3.11.

Maintenance of Hazard Insurance, Errors and Omissions and Fidelity Coverage and Primary Mortgage Insurance

114

SECTION 3.12.

Enforcement of Due-on-Sale Clauses; Assumption Agreements

116

SECTION 3.13.

Realization Upon Defaulted Mortgage Loans

117

SECTION 3.14.

Trustee to Cooperate; Release of Mortgage Files

119

SECTION 3.15.

Servicing Compensation

120

SECTION 3.16.

Collection Account Statements

121

SECTION 3.17.

Annual Statement as to Compliance

121

 

i


 

SECTION 3.18.

Assessments of Compliance and Attestation Reports

122

SECTION 3.19.

Annual Certification; Additional Information

123

SECTION 3.20.

Access to Certain Documentation

124

SECTION 3.21.

Title, Management and Disposition of REO Property

125

SECTION 3.22.

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls; Relief Act Interest Shortfalls

128

SECTION 3.23.

Obligations of the Servicer in Respect of Mortgage Rates and Monthly Payments

128

SECTION 3.24.

Reserve Fund

129

SECTION 3.25.

Advance Facility

131

SECTION 3.26.

Indemnification

132

 

 

ARTICLE IV ADMINISTRATION AND MASTER SERVICING OF THE MORTGAGE LOANS BY THE MASTER SERVICER

134

 

 

 

SECTION 4.01.

Master Servicer

134

SECTION 4.02.

REMIC-Related Covenants

135

SECTION 4.03.

Monitoring of Servicer

135

SECTION 4.04.

Fidelity Bond

136

SECTION 4.05.

Power to Act; Procedures

136

SECTION 4.06.

Due-on-Sale Clauses; Assumption Agreements

137

SECTION 4.07.

Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee

137

SECTION 4.08.

Standard Hazard Insurance and Flood Insurance Policies

138

SECTION 4.09.

Presentment of Claims and Collection of Proceeds

138

SECTION 4.10.

Maintenance of Primary Mortgage Insurance Policies

138

SECTION 4.11.

Trustee to Retain Possession of Certain Insurance Policies and Documents

139

SECTION 4.12.

Realization Upon Defaulted Mortgage Loans

139

SECTION 4.13.

Compensation for the Master Servicer

139

SECTION 4.14.

REO Property

140

SECTION 4.15.

Master Servicer Annual Statement of Compliance

140

SECTION 4.16.

Master Servicer Assessments of Compliance

141

SECTION 4.17.

Master Servicer Attestation Reports

142

SECTION 4.18.

Annual Certification

143

SECTION 4.19.

Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls

144

SECTION 4.20.

Prepayment Penalty Verification

144

 

 

ARTICLE V PAYMENTS TO CERTIFICATEHOLDERS

146

 

 

 

SECTION 5.01.

Distributions

146

SECTION 5.02.

Statements to Certificateholders

160

SECTION 5.03.

Servicer Reports; P&I Advances

164

SECTION 5.04.

Allocation of Realized Losses

165

SECTION 5.05.

Compliance with Withholding Requirements

168

SECTION 5.06.

Reports Filed with Securities and Exchange Commission

169

SECTION 5.07.

Supplemental Interest Trust

174

SECTION 5.08.

Tax Treatment of Swap Payments and Swap Termination Payments

176

 

ii


 

ARTICLE VI THE CERTIFICATES

177

 

 

 

SECTION 6.01.

The Certificates

177

SECTION 6.02.

Registration of Transfer and Exchange of Certificates

179

SECTION 6.03.

Mutilated, Destroyed, Lost or Stolen Certificates

185

SECTION 6.04.

Persons Deemed Owners

186

SECTION 6.05.

Certain Available Information

186

 

 

ARTICLE VII THE DEPOSITOR, THE SERVICER AND THE MASTER SERVICER

188

 

 

 

SECTION 7.01.

Liability of the Depositor, the Servicer and the Master Servicer

188

SECTION 7.02.

Merger or Consolidation of the Depositor, the Servicer or the Master Servicer

188

SECTION 7.03.

Limitation on Liability of the Depositor, the Servicer, the Master Servicer and Others

188

SECTION 7.04.

Limitation on Resignation of the Servicer

189

SECTION 7.05.

Limitation on Resignation of the Master Servicer

189

SECTION 7.06.

Assignment of Master Servicing

191

SECTION 7.07.

Rights of the Depositor in Respect of the Servicer and the Master Servicer

191

SECTION 7.08.

Duties of the Credit Risk Manager

192

SECTION 7.09.

Limitation Upon Liability of the Credit Risk Manager

192

SECTION 7.10.

Removal of the Credit Risk Manager

193

 

 

ARTICLE VIII DEFAULT

194

 

 

 

SECTION 8.01.

Servicer Events of Default

194

SECTION 8.02.

Master Servicer to Act; Appointment of Successor

199

SECTION 8.03.

Notification to Certificateholders

200

SECTION 8.04.

Waiver of Servicer Events of Default

201

 

 

ARTICLE IX CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

202

 

 

 

SECTION 9.01.

Duties of Trustee and Securities Administrator

202

SECTION 9.02.

Certain Matters Affecting Trustee and Securities Administrator

203

SECTION 9.03.

Trustee and Securities Administrator not Liable for Certificates or Mortgage Loans

206

SECTION 9.04.

Trustee and Securities Administrator May Own Certificates

206

SECTION 9.05.

Fees and Expenses of Trustee, Custodian and Securities Administrator

206

SECTION 9.06.

Eligibility Requirements for Trustee and Securities Administrator

207

SECTION 9.07.

Resignation and Removal of Trustee and Securities Administrator

208

SECTION 9.08.

Successor Trustee or Securities Administrator

209

SECTION 9.09.

Merger or Consolidation of Trustee or Securities Administrator

209

SECTION 9.10.

Appointment of Co-Trustee or Separate Trustee

210

SECTION 9.11.

Appointment of Office or Agency

211

SECTION 9.12.

Representations and Warranties

211

 

iii


 

ARTICLE X TERMINATION

213

 

 

 

SECTION 10.01.

Termination Upon Repurchase or Liquidation of All Mortgage Loans

213

SECTION 10.02.

Additional Termination Requirements

215

 

 

ARTICLE XI REMIC PROVISIONS

216

 

 

 

SECTION 11.01.

REMIC Administration

216

SECTION 11.02.

Prohibited Transactions and Activities

218

SECTION 11.03.

Indemnification

219

 

 

ARTICLE XII MISCELLANEOUS PROVISIONS

220

 

 

 

SECTION 12.01.

Amendment

220

SECTION 12.02.

Recordation of Agreement; Counterparts

221

SECTION 12.03.

Limitation on Rights of Certificateholders

221

SECTION 12.04.

Governing Law

222

SECTION 12.05.

Notices

222

SECTION 12.06.

Severability of Provisions

223

SECTION 12.07.

Notice to Rating Agencies

223

SECTION 12.08.

Article and Section References

224

SECTION 12.09.

Grant of Security Interest

224

SECTION 12.10.

Survival of Indemnification

225

SECTION 12.11.

Intention of the Parties and Interpretation

225

SECTION 12.12.

Indemnification

225

 

 

iv


 

 

Exhibits

 

Exhibit A-1

Form of Class A Certificate

Exhibit A-2

Form of Class M-[1][2][3][4][5][6][7][8][9][10] Certificate

Exhibit A-3

Form of Class M-11 Certificate

Exhibit A-4

Form of Class CE Certificate

Exhibit A-5

Form of Class P Certificate

Exhibit A-6

Form of Class R Certificate

Exhibit B-1

Form of Transferor Representation Letter and Form of Transferee Representation Letter in Connection with Transfer of the Class M-11 Certificates, Class P Certificates, Class CE Certificates and Residual Certificates Pursuant to Rule 144A Under the Securities Act

Exhibit B-2

Form of Transferor Representation Letter and Form of Transferee Representation Letter in Connection with Transfer of the Class M-11 Certificates, Class P Certificates and Class CE Certificates to Regulation S Under the Securities Act

Exhibit B-3

Form of Transferor Representation Letter and Form of Transferee Representation Letter in Connection with Transfer of the Class M-11 Certificates, Class P Certificates, Class CE Certificates and Residual Certificates Pursuant to Rule 501(a) Under the Securities Act

Exhibit B-4

Form of Transfer Affidavit and Agreement and Form of Transferor Affidavit in Connection with Transfer of Residual Certificates

Exhibit C

Form of Back-Up Certification

Exhibit D

Form of Power of Attorney

Exhibit E

Servicing Criteria

Exhibit F

Mortgage Loan Purchase Agreement

Exhibit G

Form 10-D, Form 8-K and Form 10-K Reporting Responsibility

Exhibit H

Additional Disclosure Notification

Exhibit I

Swap Agreement

Exhibit J

Cap Contracts

 

 

Schedule 1

Mortgage Loan Schedule

Schedule 2

Prepayment Charge Schedule

Schedule 3

Reserved

Schedule 4

Standard File Layout - Delinquency Reporting

Schedule 5

Standard File Layout - Master Servicing

Schedule 6

Data Requirements of Servicing Advances Incurred Prior to Cut-off Date

 

 

 

v


 

This Pooling and Servicing Agreement, is dated and effective as of October 1, 2006, among ACE SECURITIES CORP., as Depositor, OPTION ONE MORTGAGE CORPORATION, as Servicer, WELLS FARGO BANK, N.A., Master Servicer and Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as Trustee.

 

PRELIMINARY STATEMENT:

 

The Depositor intends to sell pass-through certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest of the Trust Fund created hereunder. The Trust Fund will consist of a segregated pool of assets comprised of the Mortgage Loans and certain other related assets subject to this Agreement.

 

REMIC I

 

As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (other than the Reserve Fund and, for the avoidance of doubt, the Supplemental Interest Trust, the Cap Contracts and the Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I”. The Class R-I Interest will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the REMIC I Remittance Rate, the initial Uncertificated Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interests (as defined herein). None of the REMIC I Regular Interests will be certificated.

 

Designation

 

REMIC I

Remittance Rate

 

Initial

Uncertificated Balance

 

Latest Possible

Maturity Date (1)

 

I

 

 

Variable (2)

 

 

$

72,264,184.40

 

 

 

August 25, 2036

 

I-1-A

 

 

Variable (2)

 

 

$

7,934,108.99

 

 

 

August 25, 2036

 

I-1-B

 

 

Variable (2)

 

 

$

7,934,108.99

 

 

 

August 25, 2036

 

I-2-A

 

 

Variable (2)

 

 

$

8,176,389.98

 

 

 

August 25, 2036

 

I-2-B

 

 

Variable (2)

 

 

$

8,176,389.98

 

 

 

August 25, 2036

 

I-3-A

 

 

Variable (2)

 

 

$

7,829,727.91

 

 

 

August 25, 2036

 

I-3-B

 

 

Variable (2)

 

 

$

7,829,727.91

 

 

 

August 25, 2036

 

I-4-A

 

 

Variable (2)

 

 

$

7,497,304.25

 

 

 

August 25, 2036

 

I-4-B

 

 

Variable (2)

 

 

$

7,497,304.25

 

 

 

August 25, 2036

 

I-5-A

 

 

Variable (2)

 

 

$

7,178,988.56

 

 

 

August 25, 2036

 

I-5-B

 

 

Variable (2)

 

 

$

7,178,988.56

 

 

 

August 25, 2036

 

I-6-A

 

 

Variable (2)

 

 

$

6,874,181.81

 

 

 

August 25, 2036

 

I-6-B

 

 

Variable (2)

 

 

$

6,874,181.81

 

 

 

August 25, 2036

 

I-7-A

 

 

Variable (2)

 

 

$

6,582,311.48

 

 

 

August 25, 2036

 

I-7-B

 

 

Variable (2)

 

 

$

6,582,311.48

 

 

 

August 25, 2036

 

I-8-A

 

 

Variable (2)

 

 

$

6,302,828.14

 

 

 

August 25, 2036

 

I-8-B

 

 

Variable (2)

 

 

$

6,302,828.14

 

 

 

August 25, 2036

 

I-9-A

 

 

Variable (2)

 

 

$

6,035,206.23

 

 

 

August 25, 2036

 

 


 

Designation

 

REMIC I

Remittance Rate

 

Initial

Uncertificated Balance

 

Latest Possible

Maturity Date (1)

 

I-9-B

 

 

Variable (2)

 

 

$

6,035,206.23

 

 

 

August 25, 2036

 

I-10-A

 

 

Variable (2)

 

 

$

5,778,943.23

 

 

 

August 25, 2036

 

I-10-B

 

 

Variable (2)

 

 

$

5,778,943.23

 

 

 

August 25, 2036

 

I-11-A

 

 

Variable (2)

 

 

$

5,586,563.15

 

 

 

August 25, 2036

 

I-11-B

 

 

Variable (2)

 

 

$

5,586,563.15

 

 

 

August 25, 2036

 

I-12-A

 

 

Variable (2)

 

 

$

5,416,048.64

 

 

 

August 25, 2036

 

I-12-B

 

 

Variable (2)

 

 

$

5,416,048.64

 

 

 

August 25, 2036

 

I-13-A

 

 

Variable (2)

 

 

$

9,086,360.13

 

 

 

August 25, 2036

 

I-13-B

 

 

Variable (2)

 

 

$

9,086,360.13

 

 

 

August 25, 2036

 

I-14-A

 

 

Variable (2)

 

 

$

18,695,500.46

 

 

 

August 25, 2036

 

I-14-B

 

 

Variable (2)

 

 

$

18,695,500.46

 

 

 

August 25, 2036

 

I-15-A

 

 

Variable (2)

 

 

$

15,421,867.57

 

 

 

August 25, 2036

 

I-15-B

 

 

Variable (2)

 

 

$

15,421,867.57

 

 

 

August 25, 2036

 

I-16-A

 

 

Variable (2)

 

 

$

12,712,557.83

 

 

 

August 25, 2036

 

I-16-B

 

 

Variable (2)

 

 

$

12,712,557.83

 

 

 

August 25, 2036

 

I-17-A

 

 

Variable (2)

 

 

$

8,778,511.05

 

 

 

August 25, 2036

 

I-17-B

 

 

Variable (2)

 

 

$

8,778,511.05

 

 

 

August 25, 2036

 

I-18-A

 

 

Variable (2)

 

 

$

2,621,559.73

 

 

 

August 25, 2036

 

I-18-B

 

 

Variable (2)

 

 

$

2,621,559.73

 

 

 

August 25, 2036

 

I-19-A

 

 

Variable (2)

 

 

$

2,490,416.41

 

 

 

August 25, 2036

 

I-19-B

 

 

Variable (2)

 

 

$

2,490,416.41

 

 

 

August 25, 2036

 

I-20-A

 

 

Variable (2)

 

 

$

2,370,129.24

 

 

 

August 25, 2036

 

I-20-B

 

 

Variable (2)

 

 

$

2,370,129.24

 

 

 

August 25, 2036

 

I-21-A

 

 

Variable (2)

 

 

$

2,255,951.37

 

 

 

August 25, 2036

 

I-21-B

 

 

Variable (2)

 

 

$

2,255,951.37

 

 

 

August 25, 2036

 

I-22-A

 

 

Variable (2)

 

 

$

2,147,359.61

 

 

 

August 25, 2036

 

I-22-B

 

 

Variable (2)

 

 

$

2,147,359.61

 

 

 

August 25, 2036

 

I-23-A

 

 

Variable (2)

 

 

$

2,044,010.85

 

 

 

August 25, 2036

 

I-23-B

 

 

Variable (2)

 

 

$

2,044,010.85

 

 

 

August 25, 2036

 

I-24-A

 

 

Variable (2)

 

 

$

1,945,629.56

 

 

 

August 25, 2036

 

I-24-B

 

 

Variable (2)

 

 

$

1,945,629.56

 

 

 

August 25, 2036

 

I-25-A

 

 

Variable (2)

 

 

$

1,852,007.58

 

 

 

August 25, 2036

 

I-25-B

 

 

Variable (2)

 

 

$

1,852,007.58

 

 

 

August 25, 2036

 

I-26-A

 

 

Variable (2)

 

 

$

1,762,878.41

 

 

 

August 25, 2036

 

I-26-B

 

 

Variable (2)

 

 

$

1,762,878.41

 

 

 

August 25, 2036

 

I-27-A

 

 

Variable (2)

 

 

$

1,677,988.28

 

 

 

August 25, 2036

 

I-27-B

 

 

Variable (2)

 

 

$

1,677,988.28

 

 

 

August 25, 2036

 

I-28-A

 

 

Variable (2)

 

 

$

1,597,301.67

 

 

 

August 25, 2036

 

I-28-B

 

 

Variable (2)

 

 

$

1,597,301.67

 

 

 

August 25, 2036

 

I-29-A

 

 

Variable (2)

 

 

$

1,520,507.78

 

 

 

August 25, 2036

 

I-29-B

 

 

Variable (2)

 

 

$

1,520,507.78

 

 

 

August 25, 2036

 

I-30-A

 

 

Variable (2)

 

 

$

1,447,414.64

 

 

 

August 25, 2036

 

I-30-B

 

 

Variable (2)

 

 

$

1,447,414.64

 

 

 

August 25, 2036

 

I-31-A

 

 

Variable (2)

 

 

$

1,377,848.82

 

 

 

August 25, 2036

 

I-31-B

 

 

Variable (2)

 

 

$

1,377,848.82

 

 

 

August 25, 2036

 

I-32-A

 

 

Variable (2)

 

 

$

1,311,636.11

 

 

 

August 25, 2036

 

 

2


 

Designation

 

REMIC I

Remittance Rate

 

Initial

Uncertificated Balance

 

Latest Possible

Maturity Date (1)

 

I-32-B

 

 

Variable (2)

 

 

$

1,311,636.11

 

 

 

August 25, 2036

 

I-33-A

 

 

Variable (2)

 

 

$

1,248,613.94

 

 

 

August 25, 2036

 

I-33-B

 

 

Variable (2)

 

 

$

1,248,613.94

 

 

 

August 25, 2036

 

I-34-A

 

 

Variable (2)

 

 

$

1,188,636.75

 

 

 

August 25, 2036

 

I-34-B

 

 

Variable (2)

 

 

$

1,188,636.75

 

 

 

August 25, 2036

 

I-35-A

 

 

Variable (2)

 

 

$

1,131,551.00

 

 

 

August 25, 2036

 

I-35-B

 

 

Variable (2)

 

 

$

1,131,551.00

 

 

 

August 25, 2036

 

I-36-A

 

 

Variable (2)

 

 

$

1,077,216.14

 

 

 

August 25, 2036

 

I-36-B

 

 

Variable (2)

 

 

$

1,077,216.14

 

 

 

August 25, 2036

 

I-37-A

 

 

Variable (2)

 

 

$

1,025,499.60

 

 

 

August 25, 2036

 

I-37-B

 

 

Variable (2)

 

 

$

1,025,499.60

 

 

 

August 25, 2036

 

I-38-A

 

 

Variable (2)

 

 

$

976,275.94

 

 

 

August 25, 2036

 

I-38-B

 

 

Variable (2)

 

 

$

976,275.94

 

 

 

August 25, 2036

 

I-39-A

 

 

Variable (2)

 

 

$

929,424.24

 

 

 

August 25, 2036

 

I-39-B

 

 

Variable (2)

 

 

$

929,424.24

 

 

 

August 25, 2036

 

I-40-A

 

 

Variable (2)

 

 

$

884,829.17

 

 

 

August 25, 2036

 

I-40-B

 

 

Variable (2)

 

 

$

884,829.17

 

 

 

August 25, 2036

 

I-41-A

 

 

Variable (2)

 

 

$

842,382.78

 

 

 

August 25, 2036

 

I-41-B

 

 

Variable (2)

 

 

$

842,382.78

 

 

 

August 25, 2036

 

I-42-A

 

 

Variable (2)

 

 

$

801,980.34

 

 

 

August 25, 2036

 

I-42-B

 

 

Variable (2)

 

 

$

801,980.34

 

 

 

August 25, 2036

 

I-43-A

 

 

Variable (2)

 

 

$

763,523.47

 

 

 

August 25, 2036

 

I-43-B

 

 

Variable (2)

 

 

$

763,523.47

 

 

 

August 25, 2036

 

I-44-A

 

 

Variable (2)

 

 

$

726,918.03

 

 

 

August 25, 2036

 

I-44-B

 

 

Variable (2)

 

 

$

726,918.03

 

 

 

August 25, 2036

 

I-45-A

 

 

Variable (2)

 

 

$

692,075.19

 

 

 

August 25, 2036

 

I-45-B

 

 

Variable (2)

 

 

$

692,075.19

 

 

 

August 25, 2036

 

I-46-A

 

 

Variable (2)

 

 

$

658,908.77

 

 

 

August 25, 2036

 

I-46-B

 

 

Variable (2)

 

 

$

658,908.77

 

 

 

August 25, 2036

 

I-47-A

 

 

Variable (2)

 

 

$

627,339.22

 

 

 

August 25, 2036

 

I-47-B

 

 

Variable (2)

 

 

$

627,339.22

 

 

 

August 25, 2036

 

I-48-A

 

 

Variable (2)

 

 

$

597,288.31

 

 

 

August 25, 2036

 

I-48-B

 

 

Variable (2)

 

 

$

597,288.31

 

 

 

August 25, 2036

 

I-49-A

 

 

Variable (2)

 

 

$

568,678.08

 

 

 

August 25, 2036

 

I-49-B

 

 

Variable (2)

 

 

$

568,678.08

 

 

 

August 25, 2036

 

I-50-A

 

 

Variable (2)

 

 

$

541,420.22

 

 

 

August 25, 2036

 

I-50-B

 

 

Variable (2)

 

 

$

541,420.22

 

 

 

August 25, 2036

 

I-51-A

 

 

Variable (2)

 

 

$

516,138.70

 

 

 

August 25, 2036

 

I-51-B

 

 

Variable (2)

 

 

$

516,138.70

 

 

 

August 25, 2036

 

I-52-A

 

 

Variable (2)

 

 

$

491,416.43

 

 

 

August 25, 2036

 

I-52-B

 

 

Variable (2)

 

 

$

491,416.43

 

 

 

August 25, 2036

 

I-53-A

 

 

Variable (2)

 

 

$

467,880.00

 

 

 

August 25, 2036

 

I-53-B

 

 

Variable (2)

 

 

$

467,880.00

 

 

 

August 25, 2036

 

I-54-A

 

 

Variable (2)

 

 

$

9,361,449.03

 

 

 

August 25, 2036

 

I-54-B

 

 

Variable (2)

 

 

$

9,361,449.03

 

 

 

August 25, 2036

 

II

 

 

Variable (2)

 

 

$

63,994,851.18

 

 

 

August 25, 2036

 

 

3


 

Designation

 

REMIC I

Remittance Rate

 

Initial

Uncertificated Balance

 

Latest Possible

Maturity Date (1)

 

II-1-A

 

 

Variable (2)

 

 

$

7,026,183.51

 

 

 

August 25, 2036

 

II-1-B

 

 

Variable (2)

 

 

$

7,026,183.51

 

 

 

August 25, 2036

 

II-2-A

 

 

Variable (2)

 

 

$

7,240,739.52

 

 

 

August 25, 2036

 

II-2-B

 

 

Variable (2)

 

 

$

7,240,739.52

 

 

 

August 25, 2036

 

II-3-A

 

 

Variable (2)

 

 

$

6,933,747.09

 

 

 

August 25, 2036

 

II-3-B

 

 

Variable (2)

 

 

$

6,933,747.09

 

 

 

August 25, 2036

 

II-4-A

 

 

Variable (2)

 

 

$

6,639,363.75

 

 

 

August 25, 2036

 

II-4-B

 

 

Variable (2)

 

 

$

6,639,363.75

 

 

 

August 25, 2036

 

II-5-A

 

 

Variable (2)

 

 

$

6,357,473.94

 

 

 

August 25, 2036

 

II-5-B

 

 

Variable (2)

 

 

$

6,357,473.94

 

 

 

August 25, 2036

 

II-6-A

 

 

Variable (2)

 

 

$

6,087,547.19

 

 

 

August 25, 2036

 

II-6-B

 

 

Variable (2)

 

 

$

6,087,547.19

 

 

 

August 25, 2036

 

II-7-A

 

 

Variable (2)

 

 

$

5,829,076.52

 

 

 

August 25, 2036

 

II-7-B

 

 

Variable (2)

 

 

$

5,829,076.52

 

 

 

August 25, 2036

 

II-8-A

 

 

Variable (2)

 

 

$

5,581,575.36

 

 

 

August 25, 2036

 

II-8-B

 

 

Variable (2)

 

 

$

5,581,575.36

 

 

 

August 25, 2036

 

II-9-A

 

 

Variable (2)

 

 

$

5,344,578.27

 

 

 

August 25, 2036

 

II-9-B

 

 

Variable (2)

 

 

$

5,344,578.27

 

 

 

August 25, 2036

 

II-10-A

 

 

Variable (2)

 

 

$

5,117,640.27

 

 

 

August 25, 2036

 

II-10-B

 

 

Variable (2)

 

 

$

5,117,640.27

 

 

 

August 25, 2036

 

II-11-A

 

 

Variable (2)

 

 

$

4,947,274.85

 

 

 

August 25, 2036

 

II-11-B

 

 

Variable (2)

 

 

$

4,947,274.85

 

 

 

August 25, 2036

 

II-12-A

 

 

Variable (2)

 

 

$

4,796,272.86

 

 

 

August 25, 2036

 

II-12-B

 

 

Variable (2)

 

 

$

4,796,272.86

 

 

 

August 25, 2036

 

II-13-A

 

 

Variable (2)

 

 

$

8,046,578.87

 

 

 

August 25, 2036

 

II-13-B

 

 

Variable (2)

 

 

$

8,046,578.87

 

 

 

August 25, 2036

 

II-14-A

 

 

Variable (2)

 

 

$

16,556,114.54

 

 

 

August 25, 2036

 

II-14-B

 

 

Variable (2)

 

 

$

16,556,114.54

 

 

 

August 25, 2036

 

II-15-A

 

 

Variable (2)

 

 

$

13,657,093.93

 

 

 

August 25, 2036

 

II-15-B

 

 

Variable (2)

 

 

$

13,657,093.93

 

 

 

August 25, 2036

 

II-16-A

 

 

Variable (2)

 

 

$

11,257,819.17

 

 

 

August 25, 2036

 

II-16-B

 

 

Variable (2)

 

 

$

11,257,819.17

 

 

 

August 25, 2036

 

II-17-A

 

 

Variable (2)

 

 

$

7,773,957.95

 

 

 

August 25, 2036

 

II-17-B

 

 

Variable (2)

 

 

$

7,773,957.95

 

 

 

August 25, 2036

 

II-18-A

 

 

Variable (2)

 

 

$

2,321,566.27

 

 

 

August 25, 2036

 

II-18-B

 

 

Variable (2)

 

 

$

2,321,566.27

 

 

 

August 25, 2036

 

II-19-A

 

 

Variable (2)

 

 

$

2,205,430.09

 

 

 

August 25, 2036

 

II-19-B

 

 

Variable (2)

 

 

$

2,205,430.09

 

 

 

August 25, 2036

 

II-20-A

 

 

Variable (2)

 

 

$

2,098,907.76

 

 

 

August 25, 2036

 

II-20-B

 

 

Variable (2)

 

 

$

2,098,907.76

 

 

 

August 25, 2036

 

II-21-A

 

 

Variable (2)

 

 

$

1,997,795.63

 

 

 

August 25, 2036

 

II-21-B

 

 

Variable (2)

 

 

$

1,997,795.63

 

 

 

August 25, 2036

 

II-22-A

 

 

Variable (2)

 

 

$

1,901,630.39

 

 

 

August 25, 2036

 

II-22-B

 

 

Variable (2)

 

 

$

1,901,630.39

 

 

 

August 25, 2036

 

II-23-A

 

 

Variable (2)

 

 

$

1,810,108.15

 

 

 

August 25, 2036

 

II-23-B

 

 

Variable (2)

 

 

$

1,810,108.15

 

 

 

August 25, 2036

 

 

4


 

Designation

 

REMIC I

Remittance Rate

 

  Initial

Uncertificated Balance

 

Latest Possible

Maturity Date (1)

 

II-24-A

 

 

Variable (2)

 

 

$

1,722,984.94

 

 

 

August 25, 2036

 

II-24-B

 

 

Variable (2)

 

 

$

1,722,984.94

 

 

 

August 25, 2036

 

II-25-A

 

 

Variable (2)

 

 

$

1,640,076.42

 

 

 

August 25, 2036

 

II-25-B

 

 

Variable (2)

 

 

$

1,640,076.42

 

 

 

August 25, 2036

 

II-26-A

 

 

Variable (2)

 

 

$

1,561,146.59

 

 

 

August 25, 2036

 

II-26-B

 

 

Variable (2)

 

 

$

1,561,146.59

 

 

 

August 25, 2036

 

II-27-A

 

 

Variable (2)

 

 

$

1,485,970.72

 

 

 

August 25, 2036

 

II-27-B

 

 

Variable (2)

 

 

$

1,485,970.72

 

 

 

August 25, 2036

 

II-28-A

 

 

Variable (2)

 

 

$

1,414,517.33

 

 

 

August 25, 2036

 

II-28-B

 

 

Variable (2)

 

 

$

1,414,517.33

 

 

 

August 25, 2036

 

II-29-A

 

 

Variable (2)

 

 

$

1,346,511.22

 

 

 

August 25, 2036

 

II-29-B

 

 

Variable (2)

 

 

$

1,346,511.22

 

 

 

August 25, 2036

 

II-30-A

 

 

Variable (2)

 

 

$

1,281,782.36

 

 

 

August 25, 2036

 

II-30-B

 

 

Variable (2)

 

 

$

1,281,782.36

 

 

 

August 25, 2036

 

II-31-A

 

 

Variable (2)

 

 

$

1,220,177.18

 

 

 

August 25, 2036

 

II-31-B

 

 

Variable (2)

 

 

$

1,220,177.18

 

 

 

August 25, 2036