American General Home Equity, Inc.
(and any other entity that becomes a party hereto)
as Owner(s)
American General Home Equity, Inc.
as Servicer(s)
as Subservicer
Page | ||||
Article I Definitions | 1 | |||
Section 1.1 Defined Terms | 1 | |||
Article II Engagement of Subservicer | 13 | |||
Section 2.1 Servicing; Possession of Servicing Files | 13 | |||
Section 2.2 Books and Records | 15 | |||
Section 2.3 Custodial Agreement | 15 | |||
Section 2.4 Limitation on Scope of Servicing Obligation | 16 | |||
Section 2.5 Loss Mitigation and Recovery Actions | 16 | |||
Section 2.6 HMP Program | 16 | |||
Section 2.7 Oversight Program | 16 | |||
Article III Representations, Warranties and Covenants | 17 | |||
Section 3.1 Servicer Representations, Warranties and Covenants | 17 | |||
Section 3.2 Owner Representations, Warranties and Covenants | 18 | |||
Section 3.3 Owner’s Representations, Warranties and Covenants for Mortgage Loans | 19 | |||
Article IV Servicing of the Mortgage Loans | 20 | |||
Section 4.1 Standard and Scope of Service | 20 | |||
Section 4.2 Authority of the Subservicer; Delinquencies | 20 | |||
Section 4.3 Collection of Mortgage Loan Payments | 23 | |||
Section 4.4 Notification of Adjustments | 23 | |||
Section 4.5 Duties the Subservicer May Delegate | 23 | |||
Section 4.6 Servicing Files | 24 | |||
Section 4.7Imaged Records | 25 | |||
Section 4.8 Enforcement of Due-On-Sale Clause; Assumption | 26 | |||
Section 4.9 Insurance | 26 | |||
Section 4.10 Insurance Notices | 28 | |||
Section 4.11 Tax and Flood Contracts | 28 | |||
Section 4.12 Tax and Insurance Accounts; Tax Service | 28 | |||
Section 4.13 Superior Liens | 30 | |||
Section 4.14 Bankruptcies | 30 | |||
Section 4.15 Foreclosure Procedures | 31 | |||
Section 4.16 Reinstatement of Mortgage Loans | 32 | |||
Section 4.17 Servicing REO Property | 32 | |||
Section 4.18 Satisfactions | 34 | |||
Section 4.19 Servicing Advances and Pass-Through Expenses | 34 | |||
Section 4.20 Mortgage Loan Transfers | 35 | |||
Section 4.21 Prepayment Penalties | 37 | |||
Section 4.22 Restoration and Repair | 38 | |||
Section 4.23 Subservicer Bond, Errors and Omissions Insurance | 39 | |||
Section 4.24 Disaster Recovery | 39 | |||
Section 4.25 High Cost Loans | 40 | |||
Article V Compensation to the Subservicer | 40 | |||
Section 5.1 Compensation to the Subservicer | 40 |
Page | ||||
Article VI Accounting | 40 | |||
Section 6.1 General | 40 | |||
Section 6.2 Account Maintenance | 41 | |||
Section 6.3 P & I Custodial Account; Remittance | 42 | |||
Section 6.4 T & I Escrow Accounts | 43 | |||
Section 6.5 Interest on Tax and Insurance Reserves | 44 | |||
Section 6.6 Access to Records | 44 | |||
Article VII Reports to the Owner | 45 | |||
Section 7.1 Reports to the Owner | 45 | |||
Section 7.2 Annual Independent Certified Public Accountants’ Servicing Report | 46 | |||
Section 7.3 Reports of Foreclosures and Abandonment of Mortgaged Property | 47 | |||
Section 7.4 Real Estate Owned Reports | 48 | |||
Section 7.5 Liquidation Reports | 48 | |||
Section 7.6 Compliance with Gramm-Leach-Bliley Act of 1999 | 48 | |||
Section 7.7 Reporting | 48 | |||
Article VIII Servicer and Indemnification | 48 | |||
Section 8.1 Merger or Consolidation of the Subservicer | 48 | |||
Section 8.2 Limitation on Resignation | 49 | |||
Section 8.3 Subservicer Limitation on Liability and Indemnification | 49 | |||
Section 8.4 Owner Limitation on Liability and Indemnification | 50 | |||
Section 8.5 Notice of Litigation | 51 | |||
Article IX Termination | 51 | |||
Section 9.1 Events of Default | 51 | |||
Section 9.2 Termination of Agreement | 53 | |||
Article��X Miscellaneous Provisions | 54 | |||
Section 10.1 Protection of Confidential and Proprietary Information. | 54 | |||
Section 10.2 Notices | 55 | |||
Section 10.3 Severability Clause | 58 | |||
Section 10.4 Performance Audits | 59 | |||
Section 10.5 Counterparts | 59 | |||
Section 10.6 Place of Delivery and Governing Law | 59 | |||
Section 10.7 Waiver of Jury Trial | 59 | |||
Section 10.8 Further Agreements | 59 | |||
Section 10.9 Successors and Assigns; Assignment of Servicing Agreement | 59 | |||
Section 10.10 Amendments, Etc. | 60 | |||
Section 10.11 Exhibits | 60 | |||
Section 10.12 General Interpretive Principles | 60 | |||
Section 10.13 Reproduction of Documents | 61 |
Exhibit A | Mortgage Loan Data Field Request | |
Exhibit B | Servicing Transfer Instructions | |
Exhibit C | Limited Power of Attorney | |
Exhibit D | Pricing Schedule | |
Exhibit E | [RESERVED] | |
Exhibit F | Tax and Flood List of Preferred Vendors | |
Exhibit G-1 | Monthly Reports and Files | |
Exhibit G-2 | Daily Reports and Files | |
Exhibit H | Nationstar Security Assessment | |
Exhibit I | Approval Matrix |
DEFINITIONS
1
2
3
4
5
6
7
1. | The reasonable actual cost of research, recovery and locating any documents missing from the Mortgage Loan Documents. | ||
2. | Payments for reasonable actual costs, fees and expenses incurred in perfecting, filing or recording documents evidencing the assignment, foreclosure, sale or mortgaging of any Mortgaged Property. |
8
3. | Reasonable actual expenses incurred to resolve or cure a dispute or issue involving any failure of the Mortgage Loan to comply with any Legal Requirements or customary industry standards that is attributable to the Owner, originator or any Person (other than the Subservicer). | ||
4. | Expenses or costs incurred in connection with any proceeding, investigation, audit, request or other inquiry by any governmental regulatory agency or other instrumentality involving the compliance of any Mortgage Loans with the Legal Requirements relating to the origination or servicing prior to the Servicing Transfer Date of such Mortgage Loans. | ||
5. | Prior Servicer Expenses — for the prior servicers’ failure to fund or offset the funding of the following; non-funded positive escrow, unapplied balances, non-documented corporate advances, monthly payments not forwarded to the Subservicer, and positive Lender-Paid Mortgage Insurance collected or advanced balances. | ||
6. | Tax Penalties and Interest Expenses — incurred as a result of a prior servicer not disbursing property taxes in a timely manner as defined in the Servicing Transfer Procedures. | ||
7. | Regulatory fines and or penalties associated with the Owner’s or Owner Designee’s or Custodian’s failure to provide required documents in order to complete the timely satisfaction or release of the mortgage. | ||
8. | Set-up, transfer, and release fees for MERS® Mortgage Loans. | ||
9. | Payments for the cost of transfer and/or purchase of services, including such services for property taxes and flood insurance information. |
9
10
11
12
ENGAGEMENT OF SUBSERVICER
13
14
15
16
REPRESENTATIONS, WARRANTIES AND COVENANTS
17
18
19
SERVICING OF THE MORTGAGE LOANS
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
COMPENSATION TO THE SUBSERVICER
ACCOUNTING
40
41
42
43
44
REPORTS TO THE OWNER
45
46
47
SUBSERVICER AND INDEMNIFICATION
48
49
50
TERMINATION
51
52
53
MISCELLANEOUS PROVISIONS
54
55
56
a) | to comply with a properly authorized civil, criminal, or regulatory investigation, subpoena or summons by Federal, State or local authorities; or | ||
b) | to respond to judicial process or government regulatory authorities having jurisdiction over it for examination, compliance or other purposes. |
57
a. | if to the Owner | American General Financial Services, Inc. | ||
601 N.W. Second Street | ||||
Evansville, IN 47708 | ||||
Attention: General Counsel | ||||
b. | if to the Servicer | American General Financial Services, Inc. | ||
601 N.W. Second Street | ||||
Evansville, IN 47708 | ||||
Attention: General Counsel | ||||
c. | if to the Subservicer | Nationstar Mortgage LLC | ||
350 Highland Drive | ||||
Lewisville, Texas 75067 | ||||
Attention: Shawn Stone | ||||
d. | if to the Custodian | Wells Fargo Bank, N.A. | ||
751 Kasota Avenue | ||||
Minneapolis, Minnesota 55414 | ||||
Attention: Document Custody |
58
59
60
61
OWNERS: MOREQUITY, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERICAN GENERAL FINANCIAL SERVICES OF ARKANSAS, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERICAN GENERAL HOME EQUITY, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
SERVICER MOREQUITY, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERICAN GENERAL FINANCIAL SERVICES OF ARKANSAS, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
AMERICAN GENERAL HOME EQUITY, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
SUBSERVICER NATIONSTAR MORTGAGE LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
Refer Page # in | ||||
Servicing Transfer | ||||
Mortgage Data Related To: | Instructions | |||
LOAN LEVEL DATA FILE | 5 | |||
CONVERSION REPORTS | 6 | |||
Trial Balance Report | 6 | |||
ACH Report | 7 | |||
System Codes and Data Dictionary Report | 7 | |||
Transaction and Disbursement History Report | 7 | |||
Odd Due Date Loan Report | 8 | |||
Second Liens Report | 8 | |||
Non-Solicitation Report | 8 | |||
Outstanding Trailing Docs Report | 8 | |||
Escrow Analysis History Report | 8 | |||
Adjustable Rate Mortgages | 8 | |||
Payment Option ARMs | 9 | |||
Interest Only Loans | 10 | |||
Balloon Loans | 10 | |||
Buydown Loans | 10 | |||
LOAN TYPE OR PLAN INFORMATION | 11 | |||
ESCROWED LOAN INFORMATION | 15 | |||
INSURANCE (HAZARD, FLOOD, ETC...) | 17 | |||
REAL ESTATE TAXES | 21 | |||
PENDING TAX SALES | 21 | |||
TAX | 21 | |||
MORTGAGE INSURANCE | 23 | |||
VENDOR REQUIREMENTS | 24 | |||
CREDIT LIFE AND OTHER OPTIONAL PRODUCTS | 26 | |||
CLAIMS PROCESS | 26 | |||
SOLDIER’S AND SAILOR’S CIVIL RELIEF ACT OF 1940 (SSCRA) | 31 | |||
LOSS MITIGATION AND COLLECTION ACTIVITY | 32 | |||
BANKRUPTCY | 35 | |||
FORECLOSURE | 37 | |||
REO | 40 | |||
HAMP REQUIREMENTS | 47 | |||
HAFA REQUIREMENTS | 57 |
TABLE OF CONTENTS
Important Servicing Transfer Dates
Secured Data Transmission
Loan Level Data File
Loan Level Data File Specifications
Conversion Reports
Loan Type or Plan Information
Investor Reporting and Remittance Requirements
Balance Settlement
Mortgagor Notification
Escrowed Loan Information
Escrow Procedures
Escrowed Loan Report
Hazard Insurance
Real Estate Taxes
Mortgage Insurance
Vendor Requirements
Tax
Insurance (Flood and Hazard)
Flood
Credit Life and Other Optional Products
Claims Process
Records and Files
MERS Notification
IRS Reporting
Litigation (This is covered in the Transfer Letter) / Update to show pre&post
Partial Releases
Subordinations
Qualified Written Requests (RESPA)
Mortgagor Name Changes
Soldier’s and Sailor’s Civil Relief Act of 1940 (SSCRA)
Loss Mitigation and Collection Activity
Bankruptcy
Foreclosure File Report
REO
Mortgagor Recoverable Corporate Advances
Release of Title, Payoff Requests and Payoff Funds Received After Transfer
Automatic Payment Plans, Mortgage Payments or other checks received after Transfer
Dishonored Payments after Transfer and Misapplied payments
Correspondence Received After Transfer
HAMP Requirements
HAFA Requirements
Page 1
Vice President
Nationstar Mortgage LLC
350 Highland Drive
Lewisville, Texas 75067
Phone: 469-549-6405
Scott.Tenery@nationstarmail.com
Attn: Jennifer Dancer
350 Highland Drive
Lewisville, Texas 75067
Phone: 469-549-2110
Email: Jennifer.Dancer@nationstarmail.com
Attn: Keenan Cain
350 Highland Drive
Lewisville, Texas 75067
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 2
Email: Keenan.Cain@nationstarmail.com
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 3
Servicing Transfer Date: | XX/XX/XXXX | |||
Delivery of Preliminary Loan Level Data & Reports: | XX/XX/XXXX | |||
Goodbye Letter Deadline Date: | XX/XX/XXXX | |||
Servicing Transfer Cutoff Date (close of business) | XX/XX/XXXX | |||
Delivery of Final Loan Level Data & Reports: | XX/XX/XXXX | |||
Servicing Transfer Settlement | XX/XX/XXXX |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 4
Nationstar Mortgage LLC
469-549-2444
Davis.Kersey@nationstarmail.com
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 5
Ø | Field name | ||
Ø | Type/Attribute (to include decimal precision and implicit/explicit decimal point representation) | ||
Ø | Starting position | ||
Ø | Ending position |
Ø | Field name | ||
Ø | Field Type: include decimal precision and non-numeric fields should be delimited with double quotes (“ ”) |
Ø | Loan Master File | ||
Ø | Borrower Information (Names, Address, Note Relationship, all Secondary Info, Contact & Employment info, etc.) | ||
Ø | Property Information (Legal Description, Address, Property Type, Occupancy Status, etc) | ||
Ø | Loan Characteristics (term, payment amounts, interest rate, lien position, channel or land home, etc.) | ||
Ø | Unpaid Principal Balance and other loan level balances (e.g., Corporate Balances, Corporate Expenses, Suspense, Fees, Escrow, etc.) | ||
Ø | Dates (first payment due date, next payment due date, etc.) | ||
Ø | Corporate Advance Detail (e.g., need breakdown by attorney fees, BPO, Inspections, Recording Fees, Bankruptcy, Foreclosure, etc.) | ||
Ø | Corporate Expense Detail | ||
Ø | Escrow Advance Detail | ||
Ø | Suspense Detail (e.g., need breakdown by Pre-Petition, Post-Petition, Forbearance, etc.) | ||
Ø | Fee Details | ||
Ø | ACH Data (Routing Number, Account Number, Last Draft Date, etc.) | ||
Ø | Escrow Information (Escrow Pmt, Tax Lines — including installments, Hazard Insurance Lines, MIP/PMI, etc.) | ||
Ø | Pending ARM Rate/Payment Changes | ||
Ø | Pending Escrow Payment Changes | ||
Ø | Interest Only Data | ||
Ø | Balloon Data | ||
Ø | Buydown/Subsidy Data |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 6
Ø | ARM Specifications/Change File | ||
Ø | Flood Determination | ||
Ø | Collection and Customer Service Comments | ||
Ø | MERS and MIN information | ||
Ø | Transaction History | ||
Ø | Escrow Analysis History | ||
Ø | ARM history | ||
Ø | Second Lien indicator | ||
Ø | Payment Option Specifications (Option terms, caps, ceilings, floors, change dates, etc.) | ||
Ø | Origination Data (Original LTV, Originator, Original Occupancy Status, etc.) | ||
Ø | Foreclosure Data (e.g. Demand Date, FC Sale Date, Attorney, etc.) | ||
Ø | Bankruptcy Data (e.g. Chapter, Filed Date, POC, Attorney, etc.) | ||
Ø | REO Data (e.g. Occupancy Status, Eviction Status, Eviction Date, etc.) | ||
Ø | Loss Mitigation Data (e.g. status, type, approval date, updated values, borrower financials, # of previous workouts, HAMP/HAFA solicited, etc.) | ||
Ø | Skip Trace Information | ||
Ø | HAMP Data (e.g. Required Treasury Reporting) | ||
Ø | Loss Mitigation Indicator (e.g. Workout, Pending Short Sale, Forbearance, etc.) | ||
Ø | Modification Flag and Type (e.g. HAMP, Cap Mod, etc.) |
Ø | Previous Servicer loan number | ||
Ø | Mortgagor Last name | ||
Ø | Mortgagor First Name | ||
Ø | Mortgagor Middle Name | ||
Ø | Interest rate | ||
Ø | Service fee rate | ||
Ø | Unpaid principal balance | ||
Ø | Escrow balance | ||
Ø | Escrow advance balance | ||
Ø | Next due date | ||
Ø | P&I payment | ||
Ø | Total monthly payment | ||
Ø | Unapplied/suspense funds balance, including breakdown of the type of unapplied/suspense funds balance |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 7
Ø | Accrued interest | ||
Ø | Interest on escrow accrual | ||
Ø | Recoverable corporate advance amount, including breakdown of the type of corporate advance | ||
Ø | Accrued late charges | ||
Ø | Deferred late charges | ||
Ø | Hazard expense | ||
Ø | Escrow payment |
2. | Data Balancing Report |
Ø | Previous Servicer loan number | ||
Ø | Mortgagor name | ||
Ø | Unpaid principal balance | ||
Ø | Escrow balance | ||
Ø | Escrow advance balance | ||
Ø | P&I payment | ||
Ø | Escrow payment | ||
Ø | A&H payment amount | ||
Ø | Credit life payment amount | ||
Ø | Total monthly payment | ||
Ø | Next due date | ||
Ø | Interest rate | ||
Ø | Interest on escrow accrual | ||
Ø | Recoverable corporate advance amount, including breakdown of the type of corporate advance | ||
Ø | Unapplied/suspense funds balance, including breakdown of the type of unapplied/suspense funds balance | ||
Ø | Buydown subsidy balance (replacement reserve) | ||
Ø | Pending escrow payment | ||
Ø | Pending escrow payment effective date |
3. | ACH Report |
Ø | Previous Servicer loan number | ||
Ø | Mortgagor Last name | ||
Ø | Routing Number | ||
Ø | Account Number | ||
Ø | Account Type (checking or savings) | ||
Ø | Last Draft Date | ||
Ø | Next Draft Date | ||
Ø | Draft Day | ||
Ø | Draft Frequency (e.g. monthly, weekly, biweekly, etc.) |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 8
Ø | Draft Amount | ||
Ø | Additional Principle Amount | ||
Ø | Total Draft Amount |
4. | System Codes and Data Dictionary Report |
5. | Transaction and Disbursement History Report |
6. | Master Vendor List Report |
7. | Odd Due Date Loan Report |
8. | Second Liens Report |
9. | Non-Solicitation Report |
10. | Outstanding Trailing Documents Report |
11. | Escrow Analysis History Report |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 9
12. | Adjustable Rate Mortgages/Interest Only/Balloon/Buydowns Report |
Adjustable Rate Mortgages |
Ø | All ARM Mortgage loans | ||
Ø | Individual loan historical rate and P&I changes | ||
Ø | Due date | ||
Ø | Current interest rate | ||
Ø | Current P&I | ||
Ø | Unpaid Principal Balance | ||
Ø | All ARM Mortgage Loans with pending interest rate and or P&I change dates | ||
Ø | Any ARM Mortgage Loans with pending effective interest rate or payment changes dates equal to or within ninety (90) days before the Transfer Date | ||
Ø | Pending interest rate | ||
Ø | Pending P&I | ||
Ø | Pending effective date | ||
Ø | ARM plan identifier (2/28, 3/27, etc.) | ||
Ø | ARM Plan ID/ Product Code | ||
Ø | ARM Plan Definition | ||
Ø | Plan Code/Product Type | ||
Ø | First Payment Date | ||
Ø | Margin | ||
Ø | Max Rate | ||
Ø | Min Rate | ||
Ø | Period Caps – Up at 1st change | ||
Ø | Period Caps – Down at 1st change | ||
Ø | Period Caps – Up at Subsequent changes | ||
Ø | Period Caps – Down at Subsequent changes | ||
Ø | First interest change date | ||
Ø | Month between changes thereafter | ||
Ø | Index being used | ||
Ø | Index History | ||
Ø | Look Back Period | ||
Ø | Rounding | ||
Ø | Interest Only loan indicator (Y/N) | ||
Ø | Interest Only period | ||
Ø | Upcoming ARM changes | ||
Payment Option ARMs |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 10
Ø | Original UPB | ||
Ø | Current UPB | ||
Ø | Due Date | ||
Ø | Original Minimum Payment | ||
Ø | Current Minimum Payment | ||
Ø | Current Payment Options | ||
Ø | Original Interest Rate | ||
Ø | Current Interest Rate | ||
Ø | Historical Rate Changes | ||
Ø | Historical P&I Changes | ||
Ø | All Pending Interest Rate Changes and/or P&I Changes | ||
Ø | POA Plan Type | ||
Ø | POA Plan Definition | ||
Ø | POA Plan Payment Options | ||
Ø | Current Index | ||
Ø | Index History | ||
Ø | Look Back Period | ||
Ø | Round Factor | ||
Ø | Minimum Rate | ||
Ø | Maximum Rate | ||
Ø | Interest Only Indicator (Y/N) | ||
Ø | Interest Only Period | ||
Ø | First Interest Adjustment Date | ||
Ø | Next Interest Adjustment Date | ||
Ø | Interest Adjustment Frequency | ||
Ø | Interest Adjustment Period Caps | ||
Ø | First Payment Adjustment Date | ||
Ø | Next Payment Adjustment Date | ||
Ø | Payment Adjustment Frequency | ||
Ø | Payment Adjustment Period Caps | ||
Ø | Maximum Payment Cap | ||
Ø | Maximum Principal Balance % | ||
Ø | Current Principal Balance % | ||
Ø | Loan amortizing at P&I due to exceeding max prin bal (Y/N) | ||
Ø | Required Fully Amortized Payment Frequency | ||
Ø | Months between Subsequent Fully Amortized Payment Changes | ||
Ø | Negative Amortization Balance | ||
Interest Only Loans | |||
Ø | All Interest Only loans |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 11
Ø | Interest Only expiration date | ||
Ø | Interest Only term (in months) | ||
Ø | Reset option regarding curtailments during the interest only period (Y/N) | ||
Ø | Interest only payment type (recast or fixed) |
Balloon Loans |
Ø | All Balloon loans | ||
Ø | Reset option indicator | ||
Ø | Current interest rate | ||
Ø | Due date | ||
Ø | Maturity date | ||
Ø | Amortization term | ||
Ø | Unpaid Principal Balance | ||
Ø | Reset option (Y/N) | ||
Ø | Reset option in process (Y/N) | ||
Ø | Daily Simple Interest | ||
Ø | Servicer shall provide a listing of all daily simple interest loans and the interest calculation method (e.g. 360, 365) |
Buydown Loans |
Ø | All buydown subsidy loans | ||
Ø | Due date | ||
Ø | Total monthly payment | ||
Ø | Monthly buydown subsidy amount | ||
Ø | Remaining buydown balance | ||
Ø | Schedule of future monthly buydown payments | ||
Ø | Effective dates of buydown payment changes | ||
Ø | Buydown terms | ||
Ø | Buydown calculation | ||
Ø | SSCRA Loan (Y/N) | ||
Ø | CORP Subsidy Loan (Y/N) |
Page 12
• | Report of Pending Transfer loans by old and new investor | ||
• | Report of loan level and pool level security balances reported at investor cutoff, including adjustments done for over and under collateralization and for partial pool transfers | ||
• | List and supporting documentation for all manual and systematic adjustments completed post cutoff, including documentation before and after adjustment | ||
• | List of all Pool to Security differences, with explanations for those greater than $1,000 | ||
• | List of all loan level rejects for the investor cutoff immediately preceding Transfer Date | ||
• | Monthly ARM reset report –includes new P&I payment and interest rate |
Attn: Investor Reporting/Juanita Gomez
350 Highland Drive
Lewisville, Texas 75067
469-549-6296
Juanita.Gomez@nationstarmail.com
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 13
Dallas, Texas 75201
ABA#: 111000614
ACCT#: 1563367653
For further credit to: Nationstar Mortgage LLC, Payment Clearing
Attn: Service Transfer Balances / Juanita Gomez
• | Prior Servicer Loan Number | ||
• | Escrow Balance | ||
• | Suspense (e.g. borrower suspense, pre or post petition money, subsidy, forbearance, etc.) | ||
• | Hazard Loss Suspense | ||
• | Sale Proceeds |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 14
Friday 8:00 am to 5:00 pm Central Standard Time
Attn: Customer Service
350 Highland Drive
Lewisville, Texas 75067
Attn: Payment Processing
P. O. Box 650783
Dallas, Texas 75265-0783
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 15
• | History Lender Forced Placed Insurance letters | ||
• | Escrow Analysis Schedule | ||
• | Interest on Escrow Schedule | ||
• | Blanket policies for REO loans (as applicable) | ||
• | Blanket policies for non first lien and REOs (as applicable) | ||
• | Escrow Advances: How reconciled and recovered | ||
• | Payment policies for delinquent taxes |
Ø | Escrow Type (tax, insurance or both) | ||
Ø | Escrow payment type (escrowed, lender forced place, non-escrowed) | ||
Ø | Date of Last Escrow Analysis | ||
Ø | Escrow Analysis History | ||
Ø | Escrow Analysis Schedule | ||
Ø | Escrow Advances | ||
Ø | Interest on Escrow Schedule |
Hazard Insurance | |||
Ø | Agent and Insurance Company payee codes | ||
Ø | Expiration date | ||
Ø | Due date | ||
Ø | Payment Term | ||
Ø | Payment or accrual amount | ||
Ø | Coverage amount | ||
Ø | Coverage Type (force-placed or borrower paid) | ||
Ø | Coverage types (wind, hazard, flood) | ||
Ø | Policy Number(s) | ||
Ø | File representing all corporate advances relating to insurance | ||
Ø | Reporting on REO coverage (as applicable) | ||
Ø | Blanket policies for non first liens and REO (as applicable) |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 16
Ø | Indicator by Escrow/Coverage Type to determine escrowed or non-escrowed |
Flood Determination | |||
Ø | Evidence of Flood contract (certification number) | ||
Ø | Determination date | ||
Ø | Contract type | ||
Ø | Community Number | ||
Ø | Panel | ||
Ø | Suffix | ||
Ø | Flood zone | ||
Ø | Program status | ||
Ø | Map Date |
Other Escrow Related Items | |||
Ø | Escrow Analysis has not been performed within the last twelve (12) months | ||
Ø | Explanation for non-compliance of Escrow Analysis guidelines | ||
Ø | Pending Escrow Analysis | ||
Ø | Escrow Analysis history for the last two years | ||
Ø | Escrow disbursement stops | ||
Ø | Explanation for the escrow stop | ||
Ø | Date of escrow stop | ||
Ø | Escrow stop expiration date | ||
Ø | Interest on escrow paid | ||
Ø | Loan level percentage of interest on escrow paid | ||
Ø | Stale escrow refund checks | ||
Ø | Amount of stale escrow refund | ||
Ø | Date of stale escrow refund transaction | ||
Ø | Vendor name of stale escrow refund check | ||
Ø | Form ME-2 New Jersey Escrow Account Transaction Notice must be filed | ||
Ø | Insurance or tax expiration date within30 days after the Transfer Date | ||
Ø | List of all outstanding research cases with current service level agreement and Mortgagor’s expectations | ||
Ø | Property Type | ||
Ø | Suspense Items and audit/reconciliation post transfer |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
Page 17
Attn: Escrow Administration/Sharon Goody
350 Highland Drive
Lewisville, Texas 75067
469-549-2005
Sharon.Goody@nationstarmail.com
Ø | Hazard insurance flag | ||
Ø | Flood insurance flag | ||
Ø | Agent and Insurance Company payee codes with full descriptions | ||
Ø | Expiration date | ||
Ø | Due date | ||
Ø | Payment type escrowed or non-escrowed for each line (hazard, flood, etc.) | ||
Ø | Payment term | ||
Ø | Payment amount | ||
Ø | Coverage amount | ||
Ø | Coverage types with descriptions | ||
Ø | Policy Number | ||
Ø | Loans with Force Placed Insurance policy in effect | ||
Ø | Indication of binder or policy for Force Placed Insurance | ||
Ø | Force Placed Insurance payment method (monthly/annual) | ||
Ø | Terms of Force Placed Insurance | ||
Ø | Loans with damaged property | ||
Ø | Hazard loss claims in process | ||
Ø | Interest on Hazard Loss Schedule | ||
Ø | Date of last property inspection | ||
Ø | Detail on Inspection frequency for Hazard Loss — draw schedule/disbursement procedures | ||
Ø | Maintenance results | ||
Ø | BPO or appraisal results | ||
Ø | Loans with an open insurance loss claim | ||
Ø | Insurance Agent name | ||
Ø | Insurance Agent contact number | ||
Ø | Date claim opened | ||
Ø | Date settled |
Page 18
Ø | Insurance proceeds received | ||
Ø | Insurance proceeds available | ||
Ø | Type of loss | ||
Ø | Status of repairs | ||
Ø | Loans affected by Hurricane Katrina | ||
Ø | Hurricane Katrina total hazard loss amount | ||
Ø | Hurricane Katrina hazard loss funds deposit date | ||
Ø | Hurricane Katrina hazard loss funds disbursement date | ||
Ø | Hurricane Katrina claim type (hazard, flood, wind) | ||
Ø | Hurricane Katrina total number of days funds in hazard loss | ||
Ø | Hurricane Katrina interest paid on hazard loss funds (Y/N) | ||
Ø | If yes, interest rate and schedule | ||
Ø | Hurricane Katrina general comments | ||
Ø | MS and LA Road Home Program | ||
Ø | Loans in Federally Declared Disaster Areas (FDDA) | ||
Ø | FDDA refund amount | ||
Ø | FDDA deposit date | ||
Ø | Loans with Flood Insurance and all Flood Insurance data | ||
Ø | Flood Insurance vendor name | ||
Ø | Life of Loan status | ||
Ø | Determination date | ||
Ø | Certificate number | ||
Ø | Open Flood zone disputes | ||
Ø | Reporting on Vacant Properties — Active Claims |
Ø | Evidence that the Flood Contract Vendor(s) have been notified to transfer Life of Loan Flood Contracts to Nationstar Mortgage LLC. | ||
Ø | Vendor Name, contact information, website access, if applicable. | ||
Ø | Vendor issued compliance data file to include: Determination Date, Certificate Number, Contract Type, Community Number, Panel, Suffix, Flood Zone, Program Status, and Map Date. |
Ø | Date claim filed | ||
Ø | Cause | ||
Ø | State | ||
Ø | Delinquent amount | ||
Ø | Amount of the loss |
Page 19
Ø | Amount of insurance proceeds received to date | ||
Ø | Date hazard funds deposited | ||
Ø | Hazard loss funds disbursement date | ||
Ø | Amount of available hazard loss funds | ||
Ø | Hazard/claim type (hazard, flood, wind) | ||
Ø | Hurricane Katrina (Y/N) | ||
Ø | Notes from conversations with or information received from contractors | ||
Ø | Correspondence to or from insurance companies and/or Mortgagor | ||
Ø | Status of the repairs | ||
Ø | Inspection reports | ||
Ø | Report of expected future proceeds | ||
Ø | Total number of days hazard loss funds held | ||
Ø | Detailed listing of all funds received and disbursed to date |
Attn: Escrow Administration/Sharon Goody
350 Highland Drive
Lewisville, Texas 75067
469-549-2005
Its successors and/ or assigns
P.O. Box 7729
Springfield, Ohio 45501-7729
Toll Free Number: (866) 825-9267
Page 20
• | The Previous Servicer shall notify Nationstar Mortgage LLC of existing Life of Loan (LOL) transferable contracts and the current vendor (Second liens must be assigned their own Flood Contract). | ||
• | Fifteen (15) days prior to Servicing Transfer: |
s | Contact your Flood Insurance representative to request that all LOL contracts are transferred to Nationstar Mortgage LLC. Provide your contact with a loan level listing of transferring loans including Previous Servicer’s loan number, name, and property address of the borrower. | ||
s | Previous Servicer will confirm to Servicer that pre- Servicing Transfer processing is complete. |
• | Within at least five (5) business days after the Servicing Transfer date: |
Ø | Evidence that the Flood Contract Vendor(s) have been notified to transfer Life of Loan Flood Contracts to Nationstar Mortgage LLC. | ||
Ø | Vendor Name, contact information, website access, if applicable. | ||
Ø | Vendor issued compliance data file to include: Determination Date, Certificate Number, Contract Type, Community Number, Panel, Suffix, Flood Zone, Program Status, and Map Date. |
Attn: Sharon Goody
350 Highland Drive
Lewisville, Texas 75067
469-549-2005
Sharon.Goody@nationstarmail.com
Page 21
One Assurant Way
Springfield OH 45505
Page 22
Ø | Real Estate taxes | ||
Ø | Taxing Jurisdiction Name(s) (Tax payee) | ||
Ø | Tax parcel or Tax ID Number | ||
Ø | Due dates | ||
Ø | Escrowed or non-escrowed flag for each line (City, State, County, etc.) | ||
Ø | Payment term (annual, quarterly, etc.) | ||
Ø | Accrual (full year payment amount) | ||
Ø | Parcel number(s) | ||
Ø | Next tax due date | ||
Ø | Economic loss date | ||
Ø | Unpaid tax and items | ||
Ø | Loans that do not have an escrow record established for taxes | ||
Ø | Open or unpaid tax installments for current and prior tax cycle | ||
Ø | Open tax issues | ||
Ø | Pending tax refunds from tax collectors | ||
Ø | Description of the issue | ||
Ø | Name of the tax collector | ||
Ø | Amount of the expected refund | ||
Ø | Taxes due and paid for Ground Rents | ||
Ø | Taxes due and paid for Homeowner association fees | ||
Ø | Taxes due and paid for Sewer lines | ||
Ø | Taxes due and paid for miscellaneous fees (drainage, front foot, assessments, etc.) | ||
Ø | All other taxes due and paid along with tax type | ||
Ø | Property legal description | ||
Ø | Name/address/phone of entity to whom these fees/taxes are due | ||
Ø | Next tax payment due date | ||
Ø | Liens assessed for taxes | ||
Ø | Loans exempt from taxes | ||
Ø | Reason for exemption | ||
Ø | Name/address/phone of taxing authority | ||
Ø | Tax Vendor, tax type and full description | ||
Ø | REO properties (as applicable) | ||
Ø | Identification of states with annual or semi-annual payments | ||
Ø | File Representing corporate advances for taxes | ||
Ø | Pending Tax Research Items |
Page 23
Ø | State | ||
Ø | Redemption amount | ||
Ø | Redemption date | ||
Ø | Total funds already corporate advanced | ||
Ø | Tax Sale (loss) date | ||
Ø | Current redemption in process | ||
Ø | Non-redeemable properties |
Attn: Escrow Administration
350 Highland Drive
Lewisville, Texas 75067
Attn: Sharon Goody
350 Highland Drive
Lewisville, Texas 75067
469-549-2005
Sharon.Goody@nationstarmail.com
Page 24
Page 25
Ø | Loans with PMI/MIP |
• | Borrower Paid Indicator | ||
• | Lender Paid Indicator | ||
• | Investor Paid Indicator |
Ø | Insurance company | ||
Ø | Policy/Certificate number | ||
Ø | Effective/Expiration Date | ||
Ø | Coverage Amount | ||
Ø | % Covered | ||
Ø | Premium Amount | ||
Ø | Payment amount | ||
Ø | Payment term | ||
Ø | Due date | ||
Ø | Payment status (borrower paid vs. lender paid) | ||
Ø | Outstanding MI claim (Y/N) | ||
Ø | Cancellations |
• | In process | ||
• | Borrower cancelled | ||
• | Cancelled as a result of non-payment |
Attn: PMI/MIP Unit /Sharon Goody
350 Highland Drive
Lewisville, Texas 75067
469-549-2005
Sharon.Goody@nationstarmail.com
Attn: FHA Unit /Sharon Goody
Page 26
Lewisville, Texas 75067
469-549-2005
Sharon.Goody@nationstarmail.com
Ø | Prior lender’s loan number (preferably just one column/one loan # string) | ||
Ø | Name of prior lender and/or their FA customer number(s) | ||
Ø | FA contract number on all loan numbers |
Ø | Borrower Name (2 columns — first/last) | ||
Ø | Borrower Address (preferably 5 columns — street #, street name, city, state, zip) | ||
Ø | Tax authority/agency (preferably FA’s payee # or at least something we can cross reference) | ||
Ø | Tax id/parcel number | ||
Ø | Service Type (escrow/C or non-escrow/B) | ||
Ø | Term of contract | ||
Ø | Amount of Mortgage/Loan | ||
Ø | If loans are coming from Land America: their ‘reverse adds’ file |
Ø | Prior Servicer Loan # |
Page 27
Ø | Borrower Name | ||
Ø | Property Address, City, State, Zip | ||
Ø | Insurance Carrier | ||
Ø | Policy Number | ||
Ø | Effective date and Expiration Date | ||
Ø | Coverage Amount | ||
Ø | Premium Amount | ||
Ø | If policy is currently in a cancellation status, the cancellation effective date |
Ø | Prior Servicer Loan # | ||
Ø | Borrower Name (First and Last) | ||
Ø | Property Address, City, State, Zip | ||
Ø | Certification Number |
Page 28
Ø | How many open claims — broken down by pre and post foreclosure status | ||
Ø | Type of claim (MI, FNMA 571, etc) | ||
Ø | Date claim filed | ||
Ø | Beginning claim amount, funds received, remaining balance | ||
Ø | Current disposition status of REO properties | ||
Ø | Record for any loans previously where claims closed in last 90 days including denied claims | ||
Ø | Break down of claims process | ||
Ø | Claims closed in last 90 days including denied claims | ||
Ø | Loans where recourse / indemnification agreements are in place | ||
Ø | Loans where recourse / indemnification — repurchase / payout in process | ||
Ø | Identify claims in dispute and the disputed item | ||
Ø | Corporate Advance Detail broken down by type and loan level |
Page 29
Attn: File Services/ Keenan Cain
350 Highland Drive
Lewisville, Texas 75067
469-549-3241
Keenan.Cain@nationstarmail.com
• | Group 4 TIFF, Single page TIFF |
• | Electronic cumulative manifest of each image provided. The manifest should include but is not limited to previous servicer loan number and document/index type. |
• | Electronic cumulative list of document/index types and corresponding user friendly description. |
Page 30
1. | Move the MERS loans to the correct Org ID to coincide with the transfer. |
2. | Enter the Sale Date, Transfer Date applicable to the Transfer and the MERS quality review flag. |
3. | Enter the Recording Information and that the loan servicing has been transferred to Nationstar Mortgage LLC |
4. | Provide Nationstar Mortgage LLC with the MIN and batch numbers for all loans transferred on MERS. |
Attn: MERS/ Keenan Cain
350 Highland Drive
Lewisville, Texas 75067
469-549-3241
Keenan.Cain@nationstarmail.com
Page 31
Page 32
Page 33
Ø | Loan Number for loans in which relief has been requested under the Soldier’s and Sailor’s Civil Relief Act of 1940, as amended | ||
Ø | Mortgagor’s Name | ||
Ø | Period of Reduced Payment (mm/yy to mm/yy) | ||
Ø | Loan has received reduced payments thru mm/yy | ||
Ø | Effective date of the subsidy | ||
Ø | Subsidy method (buydown subsidized or 6% interest rate) | ||
Ø | If buydown subsidy method, how was loan funded | ||
Ø | Calculation method of the reduced payment | ||
Ø | Active duty start date | ||
Ø | Active duty termination date | ||
Ø | Complete copy of the customer’s Military Orders | ||
Ø | Copy of ARM adjustment notification letter(s) during SSCRA period | ||
Ø | Additional comments or notes |
Attn: SSCRA/Marina Reyes
350 Highland Drive
Lewisville, Texas 75067
469-549-2014
Marina.Reyes@nationstarmail.com
Page 34
Ø | All loans with pending checks | ||
Ø | Date of Pending Check | ||
Ø | Amount of Pending Check |
Ø | All loans with open research items | ||
Ø | Missing Payments | ||
Ø | Payment Corrections | ||
Ø | Date of Research Item | ||
Ø | Amount of Research Item | ||
Ø | Type of research item (i.e. western union, moneygram, check) as outlined in the Qualified Written Request section. | ||
Ø | Status |
Ø | All loans with active repayment plan |
Page 35
Ø | Loans for which repayment plan activity has been initiated | ||
Ø | Detail of the terms and conditions of the repayment plan | ||
Ø | Status |
Ø | All loans with an active short sale | ||
Ø | All short sales with an offer outstanding | ||
Ø | All short sales with an active sales contract | ||
Ø | Approved Short Sales | ||
Ø | Approved Short Sales awaiting claims to be filed | ||
Ø | Outstanding Short Sale claims | ||
Ø | Recent property valuation |
Ø | All Loans Pending Modification | ||
Ø | Trial period information if applicable | ||
Ø | Recent property valuation | ||
Ø | Title search | ||
Ø | Modification terms |
• | Permanent/Temporary (Expiration Date) | ||
• | Rate Reduction Only/Capitalization |
Ø | Document/Title company contact information | ||
Ø | Documentation collected from borrower (Y/N) | ||
Ø | Identification of any funds collected in conjunction with the modification | ||
Ø | Modification subordination date | ||
Ø | Modification record date |
Ø | All loans pending deed-in-lieu of foreclosure | ||
Ø | Recent property valuation | ||
Ø | Title search | ||
Ø | Status |
Ø | All loans charged-off | ||
Ø | Lien |
Page 36
Ø | Date of charge-off | ||
Ø | Amount charged-off |
Ø | Copies of all written correspondence regarding delinquencies |
Ø | Written agreements entered into with the Mortgagor including any modification documents, repayment plans, stipulated repayment plans, or any other document that constitutes approval of the loss mitigation workout or alternative. |
Ø | Sales contract | ||
Ø | HUD-I Settlement Statement, estimated | ||
Ø | Realtor/Broker contact information | ||
Ø | Mortgagor financials | ||
Ø | Mortgagor hardship letter | ||
Ø | Approval letter (if approved and not closed prior to transfer date) | ||
Ø | Appraisal and/or Title Search Performed |
Pending Loan Modification Doc Requirements |
Ø | Mortgagor financials | ||
Ø | Mortgagor hardship letter | ||
Ø | Hard copy of the Modification Agreement | ||
Ø | Copy of the Modification Approval |
Pending Deed-in-Lieu Doc Requirements |
Ø | Deed-in-Lieu agreement | ||
Ø | Document/Title company contact information | ||
Ø | Mortgagor financials | ||
Ø | Mortgagor hardship letter | ||
Ø | Appraisal and/or Title Search Performed |
Attn: Loss Mitigation Department/Bryan Minassian
Page 37
Lewisville, Texas 75067
469-549-2
Bryan.Minassian@Nationstarmail.com
Ø | Loan Number | ||
Ø | Mortgagor’s Name | ||
Ø | Name of Filer | ||
Ø | Lien | ||
Ø | Filing date | ||
Ø | Chapter | ||
Ø | Case number | ||
Ø | Bankruptcy State/District | ||
Ø | Bankruptcy status | ||
Ø | Post-petition due date | ||
Ø | Contractual due date at the time of filing | ||
Ø | Date file referred to Attorney | ||
Ø | Previous Servicer’s Attorney name | ||
Ø | Previous Servicer’s Attorney address | ||
Ø | Previous Servicer’s Attorney phone number |
Page 38
Ø | Mortgagor’s Attorney name | ||
Ø | Mortgagor’s Attorney address | ||
Ø | Mortgagor’s Attorney phone number | ||
Ø | Trustee name | ||
Ø | Trustee address | ||
Ø | Trustee phone number | ||
Ø | Trustee website | ||
Ø | Trustee date | ||
Ø | Mortgagor’s Suspense Balance | ||
Ø | Trustee Suspense Balance | ||
Ø | Suspense Balance of any Stipulated Agreement | ||
Ø | Has Proof of Claim been filed (Y/N) | ||
Ø | Confirmed Proof of Claim | ||
Ø | Amount with Breakdown | ||
Ø | Amount Paid to Date from Trustee for Claim | ||
Ø | Litigation Status (Motion for Relief Filed, Cramdown, etc.) | ||
Ø | If Litigation, by whom | ||
Ø | Stipulated agreement (Y/N) | ||
Ø | Which post-petition payments are included | ||
Ø | What post-petition payments have been paid by the debtor |
Ø | Date of Discharge | ||
Ø | Date of Reaffirmation | ||
Ø | Date Filed | ||
Ø | Case # | ||
Ø | State Filed | ||
Ø | District Filed | ||
Ø | Name of Filer | ||
Ø | Dismissal Date | ||
Ø | Motion for Relief Obtained Date |
Page 39
Ø | Complete Payment History for both pre and post petition payments | ||
Ø | Original confirmed claim amount | ||
Ø | Breakdown of all amounts included in the claim. |
Ø | Mortgage | ||
Ø | Note | ||
Ø | Title Policy | ||
Ø | Breakdown of trustee money received and how it was applied | ||
Ø | Breakdown of all payments received from debtor and how it was applied | ||
Ø | Copies of all invoices | ||
Ø | Any pending relief of stay hearings within 60 days of the transfer | ||
Ø | Bank’s attorney and contact information | ||
Ø | Debtor’s attorney and contact information | ||
Ø | Bankruptcy petition | ||
Ø | Proof of claim | ||
Ø | If arrearages included in proof of claim, please provide breakdown | ||
Ø | Reorganization plan | ||
Ø | Copies of stipulation/agreed orders (details of payment plan) | ||
Ø | Foreclosure information prior to bankruptcy filing (if applicable) | ||
Ø | Information of prior bankruptcy filings (multi-filers) | ||
Ø | APO or RFS order | ||
Ø | RFS motion | ||
Ø | Dismissal/discharge order and/or a list of loans that have been dismissed/discharged | ||
Ø | Contractual Payment History | ||
Ø | Stipulated Agreement |
Attn: Bankruptcy Department/Matthew Barrett
Page 40
Lewisville, Texas 75067
469-549-2234
Matthew.Barrett@nationstarmail.com
Ø | Loans in foreclosure | ||
Ø | Legal specifics/process by state | ||
Ø | Foreclosure status | ||
Ø | Date referred to foreclosure | ||
Ø | Attorney or firm assigned | ||
Ø | Attorney phone number | ||
Ø | Date of first legal action | ||
Ø | Date of Demand/Breach Letter sent to borrower | ||
Ø | Date the service was completed | ||
Ø | Date the judgment was ordered | ||
Ø | Scheduled Sale Date / Actual Sale Date (if applicable) | ||
Ø | Any information related to holds during the process | ||
Ø | Lien Position | ||
Ø | If second lien, need 1st lien holder name, status, and contact information |
Ø | Copy of the demand/breach letter | ||
Ø | Bid instructions for any loans with a sale date occurring within 15 days after the Transfer Date must be provided upon transfer. | ||
Ø | Trustee/attorney names and contact information | ||
Ø | Referral letter | ||
Ø | Copies of all invoices, paid and due | ||
Ø | NOD/Complaint | ||
Ø | Foreclosure title report | ||
Ø | Foreclosure bid worksheet (if available) | ||
Ø | Actual/projected foreclosure sale date | ||
Ø | Foreclosure review committee packet (not referred to attorney but recommended for foreclosure). | ||
Ø | Bankruptcy information prior to foreclosure action (if applicable) | ||
Ø | Mark the outside of the file for any exception loans (e.g., SEIZED, DEMOLITION; MOBILE HOMES AND MANUFACTURED HOUSING) |
Page 41
Ø | Loan number | ||
Ø | Scheduled foreclosure sale date | ||
Ø | Scheduled foreclosure bid amount · Property state | ||
Ø | Property city | ||
Ø | Origination value | ||
Ø | Updated property valuation | ||
Ø | Attorney name | ||
Ø | Attorney contact information |
Ø | Lenstar History | ||
Ø | Appraisal/Values | ||
Ø | If government loans — case #’s | ||
Ø | Maintenance/Inspection Records — What loans were winterized? |
Comprehensive List of loans with: |
Ø | Sale Dates | ||
Ø | Redemptions | ||
Ø | Projected Sale Dates |
Vendor Information for: |
Ø | Inspections | ||
Ø | Demands | ||
Ø | Appraisals | ||
Ø | Billing | ||
Ø | Any other outsourcer/system | ||
Ø | Attorney Fee Schedule | ||
Ø | Attorney timeline/production reports | ||
Ø | List of Aged Inventory with Chronological Events |
Page 42
Attn: Foreclosure Department/Mike Hansen
350 Highland Drive
Lewisville, Texas 75067
469-549-3096
Mike.Hansen@nationstarmail.com
Page 43
Ø | Loans in REO | ||
Ø | Foreclosure and eviction attorney contact information | ||
Ø | Foreclosure Sale Date | ||
Ø | Successful Bidder | ||
Ø | Confirmation/Ratification/Redemption Date (if Applicable) | ||
Ø | Offers and counter-offers and amounts received | ||
Ø | Agent contact information (name, company, phone, fax, email) | ||
Ø | Contact information for any other third party vendors involved | ||
Ø | Under contract flag | ||
Ø | Closing date | ||
Ø | Force placed insurance information | ||
Ø | Taxes due | ||
Ø | Taxes Paid | ||
Ø | Code Violations | ||
Ø | Open Legal files | ||
Ø | Closing status | ||
Ø | Closing contact information (Title company, closer, agent) | ||
Ø | Occupancy status | ||
Ø | Eviction status | ||
Ø | Cash for keys offered/accepted/denied | ||
Ø | Title work completed | ||
Ø | All interior values | ||
Ø | Amount of REO repairs made to property | ||
Ø | If Third Party Sale — Date Proceeds Received | ||
Ø | If Third Party Sale — Amount | ||
Ø | If Redeemed — Date Proceeds Received | ||
Ø | If Redeemed — Amount | ||
Ø | REO Closing Attorney Contact Information (Name, Address, phone, fax, email) | ||
Ø | Party Marketing the Property | ||
Ø | Date Property Sold | ||
Ø | Initial Investor Claim-Date Filed | ||
Ø | Investor Name Claim Sent to and Contact Information | ||
Ø | Investor Claim Amount | ||
Ø | Investor Claim Date Paid | ||
Ø | Investor Claim Status | ||
Ø | MI Claim-Date Filed | ||
Ø | MI Name Claim Sent to and Contact Information | ||
Ø | MI Claim Amount | ||
Ø | MI Claim Date Paid | ||
Ø | Other Claim-Date Filed (i.e. Secondary etc.) | ||
Ø | Other Name Claim Sent to and Contact Information |
Page 44
Ø | Other Claim Amount | ||
Ø | Other Claim Date Paid | ||
Ø | Identification of a redemption loan that have not confirmed |
Ø | Foreclosure deed | ||
Ø | Foreclosure bid worksheet with supporting BPO’s or APO’s attached | ||
Ø | Property inspection reports | ||
Ø | Listing agreements including initial list price and date, current list price and all list reductions and dates. | ||
Ø | Listing activity reports | ||
Ø | Rehabilitation work orders and/or contractor invoices | ||
Ø | All Closing documents (contract, title work, etc.), closing attorney contact information, scheduled closing date, etc. | ||
Ø | Executed contracts | ||
Ø | Preliminary/Final HUD |
Attn: REO Department/Kevin Friday
350 Highland Drive
Lewisville, Texas 75067
469-549-2271
Kevin.Friday@Nationstarmail.com
Page 45
Ø | Loans with advance | ||
Ø | Advance Type and Amount: (attorney fee, BPO, Inspections, Recording Fees, Bankruptcy, Foreclosure, etc.) | ||
Ø | Corporate Expense Detail | ||
Ø | Debit/Credit Indicator | ||
Ø | Recoverable, Non-Recoverable, or Third Party Indicator |
Page 46
City, State, Zip: Dallas, Texas 75201
RT# : 111000614
ACCT# : 1563367653
For further credit to: Nationstar Mortgage LLC, Payment Clearing
Customer’s Name ___________________
Customer’s Loan Acct # ______________
Customer’s Address _________________
Sender’s Name and Phone #____________
Attn: Marina Reyes
Address: 350 Highland Drive
City, State, Zip: Lewisville, Texas 75067
Phone: 469-549-2014
Email: Marina.Reyes@nationstarmail.com
Ø | Prepayment Penalty Term | ||
Ø | Prepayment Penalty Calculation | ||
Ø | Payoff Request Date |
Page 47
Pay to the order of Nationstar Mortgage LLC without recourse. | ||
By | ||
(Name of Signer) (Title of Signer) (Name of Company) |
Attn: Service Transfer Payments/Payment Processing
350 Highland Drive
Lewisville, Texas 75067
1. | Checks shall be clearly identified with Previous Servicer’s loan number in the upper right-hand corner. | ||
2. | Checks that include funds for two or more accounts should be accompanied by a detailed listing providing Previous Servicer’s loan number and amount due each account. | ||
3. | Checks should be properly endorsed as noted above. | ||
4. | The purpose of check shall be identified and grouped accordingly (i.e., tax refund, loss draft, payment of special insurance, principal payment, etc.). | ||
5. | Checks shall be forwarded via overnight delivery to the address above. |
Page 48
1. | Original returned or dishonored payment, along with a copy of the debit advice, should be provided and clearly reflect the reason the payment was dishonored (e.g. NSF, stop payment, etc.). In the case of a dishonored draft, adequate proof should be provided indicating the bank rejected the draft. | ||
2. | Payment history from point of the dishonored payment to the Transfer Cutoff Date | ||
3. | Nationstar Mortgage LLC shall reimburse Previous Servicer the dishonored payment funds within twenty (20) days of receipt of applicable documentation. |
1. | Both parties shall cooperate in correcting misapplication errors by providing the payment history from point of error to the Transfer Cutoff Date and a copy of the canceled check bearing the endorsement of the Previous Servicer responsible for the posting of the missing funds. | ||
2. | The party receiving notice of a misapplied payment occurring to the Transfer Date and discovered after the Transfer Date shall immediately notify the other party. | ||
3. | If a misapplied payment cannot be identified by either party and said misapplied payment has resulted in a shortage in a Mortgage account, Previous Servicer shall be liable for the amount of such shortage. Previous Servicer shall reimburse Nationstar Mortgage LLC for the amount of such shortage within twenty (20) days after receipt of written demand from Nationstar Mortgage LLC. | ||
4. | Any check issued under the provisions of this paragraph shall be accompanied by a statement indicating the purpose of the check, the mortgagor and property address involved, and the corresponding Previous Servicer and/or Nationstar Mortgage LLC account number. |
Attn: Service Transfer NSF Returns/ Payment Processing
350 Highland Drive
Lewisville, Texas 75067
Page 49
Attn: Service Transfer Correspondence / Austin Cobb
350 Highland Drive
Lewisville, Texas 75067
469-549-2284
Austin.Cobb@nationstarmail.com
Page 50
1. | Fill out and submit the HAMP Reporting Transfer Request Form |
2. | Fill out and submit the HAMP Reporting Transfer Loan List form with all HAMP loans transferring |
3. | If transferring non-GSE loans the Assignment and Assumption Agreement must be filled out and submitted to FNMA |
1. | List of all loans that have been solicited. | ||
2. | Report outlining where each loan is in the process, payments received, and payment received date. If the process has been completed then provide the new modification terms. | ||
3. | Report providing which documents have been received and if incomplete, what is still missing. Will need copies of all documents received. | ||
4. | Report outlining any loans that previously failed (no longer eligible for the HAMP program) or were turned down. | ||
5. | Copies of any Treasury reporting A, B, C, and/or D. |
Current Collateral Value
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HAMP Type (Imminent Default or Default)
Trial Period Payment Dates
Trial Period Payment Amount
Trial Period Payment History
Trial Period Completion/End Date
Amortization Duration
Maturity Date
Beginning Unpaid Principal Balance (at the start of the trial period)
Forbearance Amount at Trial Period
Reset ARM Identifier (Y/N)
Reset Interest Rate
Reset Payment Amount
Eligibility Payment Amount Indicator (will need to calc this in house — current pmt vs. reset pmt)
Date Executed Trial Period Documents Received
Date Trial Period Qualifying Documents Received
Extended Trial Period Payment Date (if applicable)
HAMP Type (Imminent Default or Default)
Freddie Weekly Survey Rate (used to determine mod terms)
Step Modification Rates
Step Modification Dates
Final Modification Rate
Modification Effective Date
Final Forbearance Amount
Ending Unpaid Principal Balance (at the end of the trial period)
Borrower First Name
Borrower Middle Name
Borrower Last Name
Borrower Date of Birth
Co-Borrower First Name
Co-Borrower Middle Name
Co-Borrower Last Name
Co-Borrower Date of Birth
Borrower Default Reason
Co-Borrower Default Reason
Borrower Ethnicity
Borrower Race
Borrower Sex
Borrower Info Not Provided
Co-Borrower Ethnicity
Co-Borrower Race
Co-Borrower Sex
Co-Borrower Info Not Provided
Date
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Value No Mod
NPV Test
Error Code
Waterfall Test
Forbearance Flag
Value Mod
NPV Test Successful?
H4H Lead Eligible?
H4H Offered?
Verified Borrower Income Type
Verified Borrower Gross Income
Verified Borrower Net Income
Verified Borrower Rental Income
Verified Borrower Pension
Verified Borrower Alimony/Child Support
Verified Borrower Misc Amount
Verified Borrower Misc Type
Verified Borrower Checking Account
Verified Borrower Savings/Money Market Account
Verified Borrower 401K/ESOP/IRA/Keogh
Verified Borrower Stocks/Bonds/CD’s/Other
Verified Co-Borrower Income Type
Verified Co-Borrower Gross Income
Verified Co-Borrower Net Income
Verified Co-Borrower Rental Income
Verified Co-Borrower Pension
Verified Co-Borrower Alimony/Child Support
Verified Co-Borrower Misc Amount
Verified Co-Borrower Misc Type
Verified Co-Borrower Checking Account
Verified Co-Borrower Savings/Money Market Account
Verified Co-Borrower 401K/ESOP/IRA/Keogh
Verified Co-Borrower Stocks/Bonds/CD’s/Other
Stated Borrower Income Type
Stated Borrower Gross Income
Stated Borrower Net Income
Stated Borrower Rental Income
Stated Borrower Pension
Stated Borrower Alimony/Child Support
Stated Borrower Misc Amount
Stated Borrower Misc Type
Stated Borrower Checking Account
Stated Borrower Savings/Money Market Account
Stated Borrower 401K/ESOP/IRA/Keogh
Stated Borrower Stocks/Bonds/CD’s/Other
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Stated Co-Borrower Gross Income
Stated Co-Borrower Net Income
Stated Co-Borrower Rental Income
Stated Co-Borrower Pension
Stated Co-Borrower Alimony/Child Support
Stated Co-Borrower Misc Amount
Stated Co-Borrower Misc Type
Stated Co-Borrower Checking Account
Stated Co-Borrower Savings/Money Market Account
Stated Co-Borrower 401K/ESOP/IRA/Keogh
Stated Co-Borrower Stocks/Bonds/CD’s/Other
First Lien Mortgage P&I
Other Mortgage(s)
Property Taxes
Home Owners Insurance
Home Owners Association
Mortgage Insurance
Car Payment (1)
Car Payment (2)
Auto Insurance
Charge Account (1)
Charge Account (2)
Charge Account (3)
Student Loan
Bank/Finance Loans
Medical Bills
Health Insurance
Child Care
Gas
Auto Maintenance
Public Trans
Gas (Natural/Propane)
Electric
Garbage P/U
Water & Sewer
Home Phone
Cell Phone
Cable TV
Home Maintenance
Food
Child Support
Alimony
Camper, Boat, Motorocycle
Personal/Life Insurance
Club/Union Dues
Religious Contributions
Dry Cleaning
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Entertainment
School Tuition
Rent Expense
Other Expenses
Ref ID | Name of Data Point | Description | ||
1 | GSE Servicer Number | The Fannie Mae or Freddie Mac unique Servicer identifier. | ||
2 | Servicer Loan Number | The unique (for the lender) identifier assigned to the loan by the lender that is servicing the loan. | ||
3 | HAMP Servicer Number | A unique identifier assigned to each Servicer that is participating in the HAMP program. | ||
4 | GSE Loan Number | A unique identifier assigned to each loan by a GSE (Fannie or Freddie). | ||
5 | Underlying Trust Identifier | This is the shelf and series security identifier associated with the underlying security. A shelf offering is an SEC provision allowing an issuer to register a new issue security without selling the entire issue at once. Additionally, this may be the CUSIP identifier associated with the security. The CUSIP number is the identification number assigned to a security by CUSIP (Committee on Uniform Security Identification Procedures) for trading. | ||
6 | Program Type/Campaign ID | A new program type that will identify campaign types. The unique identifier of a Loan Workout Campaign. | ||
7 | Investor Code | Owner of the mortgage. | ||
8 | Borrower Last Name | The last name of the Borrower. This is also known as the family name or surname. | ||
9 | Borrower First Name | First Name of the Borrower of record | ||
10 | Borrower Social Security Number | The Social Security Number of the Borrower | ||
11 | Co-Borrower Last name | Last Name of the co- Borrower of record | ||
12 | Co-Borrower First Name | First Name of the co-Borrower of record | ||
13 | Co-Borrower Social Security Number | The Social Security Number of the Co-borrower | ||
14 | Borrower Execution Date | For trial loan submission, this is the date that the borrower executed (signed) the trial documents if available. Otherwise it is the date of the first payment (through check, wire, or credit card). | ||
For official loan submission, this is the date that the borrower signed the official loan modification documents. | ||||
15 | Submission Status | Status of loan data being submitted. | ||
16 | Date of Original Note | The date the mortgage note was signed. | ||
17 | Unpaid Principal Balance Before Modification | The total principal amount outstanding as of the end of the month. The UPB should not reflect any accounting based write-downs and should only be reduced to zero when the loan has been liquidated – either paid-in-full, charged-off, REO sold or Service transferred (before modification) |
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Ref ID | Name of Data Point | Description | ||
18 | Loan Mortgage Type Code | The code that specifies the type of mortgage being applied for or that has been granted. | ||
19 | Last Paid Installment Date Before Modification | The due date of the last paid installment of the loan. | ||
20 | First Lien Indicator | Indicates if loan is first lien. | ||
21 | Foreclosure Referral Date | Provide the date that the mortgage was referred to an attorney for the purpose of initiating foreclosure proceedings. This date should reflect the referral date of currently active foreclosure process. Loans cured from foreclosure should not have a referral date. | ||
22 | Projected Foreclosure Sale Date | Projected date for foreclosure sale of subject property | ||
23 | Hardship Reason Code | Identifies the reason for the borrower’s hardship, on their mortgage payment obligations. | ||
24 | Monthly Gross Income | Total monthly income in dollars for all borrowers on the loan. This is the gross income for all borrowers. | ||
25 | Monthly Debt Payments excluding PITIA | Total amount of monthly debt payments excluding Principal, Interest, Taxes, Insurance and Association Dues (PITIA) | ||
26 | NPV Date | This is the date that the NPV model is run using stated income (or verified income if available). | ||
27 | NPV Model Result Amount Pre-mod | Net Present Value amount generated from the model before modification | ||
28 | NPV Model Result Amount Post-mod | Net Present Value amount generated from the model after modification | ||
29 | Amortization Term Before Modification | Represents the number of months on which installment payments are based. Example: Balloon loans have a seven year life (Loan Term = 84) but a 30 year amortization period (Amortization Term = 360). Installment payments are determined based on the 360 month | ||
30 | Interest Rate Before Modification | The interest rate in the month prior to loan modification. Please report as rounded to nearest 8th. (e.g. 4.125) | ||
31 | Principal and Interest Payment Before Modification | The scheduled principal and interest amount in the month prior to loan modification. | ||
32 | Escrow Payment Before Modification | Report the escrow amount in the month prior to loan modification. The amount of money that is collected from [added on to] the regular monthly mortgage payment to cover periodic payments of property taxes, private mortgage insurance and hazard insurance by the servicer on behalf of the mortgagee. Depending on the mortgage terms, this amount may or may not be collected. Generally, if the down payment is less than 20%, then these amounts are collected by the servicer. | ||
33 | Association Dues/Fees Before Modification | Existing monthly payment for association dues/fees before modification | ||
34 | Principal Payment | Principal portion of the P&I remitted | ||
35 | Interest Payment | Interest portion of the P&I | ||
36 | Principal Payment Owed or Not Reported | If borrower has contributed any cash or amounts in suspense | ||
37 | Other Contributions | If there are any amounts contributed by the borrower due to Hazard Claims | ||
38 | Attorney Fees Not in Escrow | Estimated legal fee not in escrow for advances capitalization and liquidation expense calculation | ||
39 | Escrow Shortage for Advances | Any Escrow advance amounts to be capitalized |
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Ref ID | Name of Data Point | Description | ||
40 | Other Advances | Other capitalized advance amounts excluding escrow. Example: field inspections or title costs associated with recording the modification. | ||
41 | Borrower Contributions | If the borrower is contributing any amounts, they must be reported here | ||
42 | Modified Loan Term-Officer Signature Date | Servicer sign off at the officer level for the loan modification. This is the date the servicer’s officer approved the loan modification. This column will be populated for modification cases that need reclassification. There is no conversion needed for existing cases | ||
43 | Disbursement Forgiven | If there are any Forgiven disbursement for advances capitalization | ||
44 | Monthly Housing Expense Before Modification | The dollar amount per month of the borrowers housing expense of the subject property before modification .May be used for their primary residence. This must be Principal, Interest, Taxes, Insurance and Association Dues (PITIA). | ||
45 | Delinquent Interest | Delinquent interest for interest capitalization. It is the amount of delinquent interest from the delinquent loan’s LPI date to the workout execution date. | ||
46 | Interest Owed Or Payment Not Reported | If there is Interest owed/received but not reported for interest capitalization, this field must be populated. | ||
47 | Servicing Fee Percent, After Modification | Percentage of servicing Fee after loan modification ( e.g. 0.25) | ||
48 | Product Before Modification | The mortgage product of the loan, before the modification. | ||
49 | Maturity Date Before Modification | The date on which the mortgage obligation is scheduled to be paid off, according to the mortgage note. Maturity Date is commonly called Balloon Date for balloon loans, for which scheduled amortization does not pay off the balance of the loan, so that there is a final, large “balloon” payment at the end. | ||
50 | Remaining Term Before Modification | The remaining number of months until the loan will be paid off, assuming that scheduled payments are made. This will equal lesser of 1. the number of months until the actual balance of the loan will amortize to zero; or 2. the number of months difference between the LPI date and the Maturity Date. | ||
51 | Front Ratio Before Modification | The refreshed Front-end DTI (Principal, Interest, Taxes, Insurance and Association Dues (PITIA)) housing ratio. | ||
52 | Back Ratio Before Modification | Percentage of borrower’s PITIA plus debts to income ratio. Borrower Total Debt To Income Ratio Percent. The monthly expenses divided by the total monthly income for the Borrower. (e.g. 30.25) | ||
53 | Principal and Interest Payment at 31% DTI | Principal and Interest payable for a 31% Debt to Income ratio | ||
54 | Principal and Interest Payment at 38% DTI | Principal and Interest payable for a 38% Debt to Income ratio | ||
55 | Property Number of Units | Number of units in subject property (Valid values are 1, 2, 3 or 4) | ||
56 | Property Street Address | The street address of the subject property | ||
57 | Property City | The name of the city where the subject property is located. | ||
58 | Property State | The 2-character postal abbreviation of the state, province, or region of the subject property. |
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Ref ID | Name of Data Point | Description | ||
59 | Property Zip Code | The code designated by the postal service to direct the delivery of physical mail or which corresponds to a physical location. In the USA, this can take either a 5 digit form (ZIP Code) or a 9-digit form (ZIP + 4). | ||
60 | Property Valuation Method | Type of value analysis. | ||
61 | Property Valuation Date | The date the property value analysis was performed. | ||
62 | Property Valuation As is Value | Property as-is value determined by the property valuation | ||
63 | Property Condition Code | A code denoting the condition of the subject property. | ||
64 | Property Occupancy Status Code | A code identifying the occupancy by the borrower of the subject property. | ||
65 | Property Usage Type Code | A code identifying the intended use by the borrower of the property. | ||
66 | Modification Effective Date | For Trial, this is the anticipated Modification Effective Date of the official loan modification. This is the first day of the month following the month when the last trial payment is due. For Official, this is the actual Modification Effective Date of the official loan modification. This is the first day of the month following the month when the last trial payment is due. The Modification Effective Date on the official loan submission must be less than the submission date. | ||
67 | Product After Modification | The mortgage product of the loan, after the modification (Allowable values are Fixed or Step). | ||
68 | Amortization Term After Modification | The number of months used to calculate the periodic payments of both principal and interest that will be sufficient to retire a mortgage obligation. | ||
69 | Unpaid Principal Balance After Modification | The unpaid principal balance of a loan after the loan modification. The unpaid principal balance after modification excludes any applicable forbearance amount and can also be referred to as Net UPB Amount. | ||
70 | Last Paid Installment Date After Modification | For Trial, this is the anticipated LPI Date after modification. It should be one month before the anticipated Modification Effective Date. For Official, This is the actual LPI Date after Modification. It must be one month before the Modification Effective Date. | ||
71 | Interest Rate After Modification | The interest rate in the month after loan modification. | ||
72 | Interest Rate Lock Date for Modification | The date that the rate lock was applied — in reference to modification of loan terms | ||
For Trial Loan Submission, this is a projection of the first payment due date after modification. First Payment Due Date After Modification should be the same as the anticipated Modification Effective Date. | ||||
For Official Loan Submission , this is the actual first payment due date. | ||||
73 | First Payment Due Date After Modification | First Payment Due Date After Modification should be the same as the actual Modification Effective Date. | ||
74 | Principal and Interest Payment After Modification | The P&I amount after modification | ||
75 | Escrow Payment After Modification | Existing monthly payment to escrow-after modification |
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Ref ID | Name of Data Point | Description | ||
76 | Monthly Housing Expense After Modification | The dollar amount per month of the borrowers housing expense of the subject property after modification .May be used for their primary residence. This must be Principal, Interest, Taxes, Insurance and Association Dues (PITIA). | ||
77 | Maturity Date After Modification | The maturity date of the loan after modification | ||
78 | Principal Forbearance Amount | The total amount in dollars of the principal that was deferred through loss mitigation. | ||
79 | Term After Modification | The remaining number of months until the loan will be paid off, assuming that scheduled payments are made. This will equal lesser of 1. the number of months until the actual balance of the loan will amortize to zero; or 2. the number of months difference between the LPI date and the Maturity Date. In this case, the Maturity Date is the Maturity Date after the modification and may be different from the original Maturity Date (before the modification). | ||
80 | Front Ratio After Modification | Percentage of borrower’s PITIA to income ratio | ||
81 | Back Ratio After Modification | Percentage of borrower’s PITIA plus debts to income ratio | ||
82 | Principal Write-down (Forgiveness) | Amount of principal written-down or forgiven | ||
83 | Paydown or Payoff of Subordinate Liens | Have subordinate liens been paid off or paid down? | ||
84 | Paydown or Payoff of Subordinate Liens Amount | Amount of paydown or payoff of subordinate liens | ||
85 | Action Code | A code reported by the lender to update the loan that indicates the action that occurred during the reporting period | ||
86 | Action Code Date | The effective date of the action associated with the action code specified on the incoming LPC Transaction by the Servicer. The action date is required for certain action codes. | ||
87 | Max Interest Rate After Modification | Interest rate cap for the loan. | ||
88 | Trial Payment Number | The number of the trial payment being reported. The code that is used to define a single payment number that will be one of a series of payments that together will complete a loan trial payment period. | ||
89 | Trial Payment Received Amount | The actual dollar amount of the payment received from the borrower to the servicer for the trial payment. | ||
90 | Trial Payment Posted Date | The date the payment was posted during the Trial period | ||
91 | 1st Trial Payment Due Date | This is the date that the first trial payment is due. It is also the trial modification effective date. This date must be less than the trial loan submission date. | ||
92 | 1st Trial Payment Posted Date | The date the first payment posted during the Trial period | ||
93 | 1st Trial Payment Received Amount | This is the actual amount of the Payment received from the Borrower to the Servicer for the 1st Trial payment. | ||
94 | Length of Trial Period | The length of the trial period | ||
95 | Step — Interest Rate Step Number | The sequence is used to uniquely identify and order Loan Interest Rate Adjustment schedule records specific to the loans step rate schedule. | ||
96 | Step — Payment Effective Date | The date the payment will be effective. | ||
97 | Step — Note Rate | The interest rate in the month after loan modification. | ||
98 | Step — New Interest Rate — Step Duration | After modification step duration in months. If this step is the last step and will be the rate and payment effective for the life of the loan, then duration is not required. |
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Ref ID | Name of Data Point | Description | ||
99 | Step — Principal and Interest Payment | P&I Amount — The amount of the principal and/or interest payment due on the loan for each installment, beginning on the effective date. | ||
100 | Servicer TARP Contract Number | Servicer contract number with Treasury (TARP) | ||
101 | Fee Cap at Servicer Level | Max amount that will be paid to Servicer for loan modification | ||
102 | Servicer Primary Contact First Name | The first name of the Person. | ||
103 | Servicer Primary Contact Last Name | The last name of the Person. | ||
104 | Servicer Primary Contact Phone Number | The entire sequence of digits required to initiate a call from a standard phone to this number. It should include the area code or, for overseas numbers, the full country and city codes as they would be dialed. | ||
105 | Servicer Primary Contact Email | Servicer contact email address | ||
106 | Servicer Secondary Contact First Name | The first name of the Person. | ||
107 | Servicer Secondary Contact Last Name | The last name of the Person. | ||
108 | Servicer Secondary Contact Phone Number | The entire sequence of digits required to initiate a call from a standard phone to this number. It should include the area code or, for overseas numbers, the full country and city codes as they would be dialed. | ||
109 | Servicer Secondary Contact Email | Servicer contact email address | ||
110 | Servicer Street Address Line 1 | The street address that denotes the location where mail is delivered for the Servicer. | ||
111 | Servicer City Name | The name of the city to which physical mail is directed for the Servicer. | ||
112 | Servicer State | The 2-character postal abbreviation of the state, province, or region to which physical mail is directed or which corresponds to a physical location. | ||
113 | Servicer Postal Code | The code designated by the postal service to direct the delivery of physical mail or which corresponds to a physical location. In the USA, this can take either a 5 digit form (ZIP Code) or a 9-digit form (ZIP + 4). | ||
114 | Servicer Technical Point of Contact Name | Person we can contact at servicer to set up B2B interactions | ||
115 | Servicer Technical Point of Contact Email | Email address of servicer technical point of contact. | ||
116 | Servicer Technical Point of Contact Phone | Phone number of servicer technical point of contact | ||
117 | Servicer Data Return URL | URL to which we will connect to send data and reports directly to the servicer. For example https://servicer.com/prevention | ||
118 | Servicer Data Return Port Number | Port number associated with the URL | ||
119 | Servicer Data Exchange Protocol | B2B protocol to be used to exchange data with a servicer. Must be one of the following: AS2, Connect:Direct, or SFTP. | ||
120 | Disbursement Type | This describes the bank account type to which the disbursements will be paid | ||
121 | Servicer Routing (ABA) Number | The transit number devised by the American Bankers Association (ABA). A routing transit number (RTN) or ABA number is a nine digit code, used in the United States, which for instance appears on the bottom of negotiable instruments such as checks that identifies which financial institution it is drawn upon.-WIRE Transfer | ||
122 | Servicer Bank Account Number | A bank account is a monetary account with a banking institution recording the balance of money for a customer.-Wire Transfer |
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Ref ID | Name of Data Point | Description | ||
123 | Servicer Bank Name | The name of the bank that receives the funds. | ||
124 | Servicer Bank Street Address Line 1 | The unparsed street address that denotes the location where mail is delivered. | ||
125 | Servicer Bank City Name | The name of the city to which physical mail is directed. | ||
126 | Servicer Bank State | The 2-character postal abbreviation of the state, province, or region to which physical mail is directed or which corresponds to a physical location. | ||
127 | Servicer Bank Postal Code | The code designated by the postal service to direct the delivery of physical mail or which corresponds to a physical location. In the USA, this can take either a 5 digit form (ZIP Code) or a 9-digit form (ZIP + 4). |
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• | Each loan that did meet HAMP eligibility but did not fulfill HAMP obligations | ||
• | Reason code/reason for HAMP fall out | ||
• | Date Letter Sent | ||
• | Type of HAFA Letter Sent (e.g. Solicitation Letter or SSA, RASS, ALT Rass, or DIL agreement) | ||
• | If postpone foreclosure for the 14 day solicitation letter, need date foreclosure postponed |
• | Each loan that responded to the letter | ||
• | Date responded to letter | ||
• | Which alternative borrower agreed to fulfill (short sale and/or deed-in-lieu) | ||
• | Executed documents received by Servicer(Y/N Flag) | ||
• | Status of Request (e.g. Talked to borrower about alternatives, borrower is interested and documents sent but not received, documents sent by servicer, executed documents in mail, etc...) | ||
• | Date foreclosure was postponed | ||
• | Any completed request for Approval of Short Sale (RASS) or Alt Request for Approval of Short Sale (Alt Rass) |
Logical Data Element | Description | |
HAMP Registration Number | The unique identifier for the servicer participating in the HAMP program | |
HAMP Servicer Number | A unique identifier assigned to each servicer that is participating in the HAMP program | |
Servicer Loan Number | The unique identifier assigned to the loan by the lender that is servicing the loan for the first lien |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
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Logical Data Element | Description | |
GSE Servicer Number | The Fannie Mae or Freddie Mac unique servicer identifier | |
GSE Loan Number | A unique identifier assigned to each loan by a GSE | |
Investor Code | Owner of the Mortgage | |
Borrower Last Name | ||
Borrower First Name | ||
Borrower SSN | ||
Co-Borrower Last name | ||
Co-Borrower First Name | ||
Co-Borrower SSN | ||
Program Type/Campaign ID | A new program type that will identify campaign types. The unique identifier of a Loan Workout Campaign. | |
Submission Status | Status of loan data being submitted | |
Property Street Address | ||
Property City | ||
Property State | ||
Property Zip Code | ||
Date of original Note | ||
Front Ratio Before Modification | The front-end DTI (principal, interest, taxes, insurance and association dues) housing ratio as of the HAMP modification evaluation. | |
Property usage type code | A code identifying the use by the borrower of the property | |
Loan Status type code | A code specifying whether the loan is in default, imminent default, or current status as of the HAMP modification evaluation. | |
Borrower execution date | This is the date that the borrower signed the SPO agreement or DIL agreement | |
Agreement issue Date | This is the date that the SPO agreement or the DIL agreement was issued | |
agreement experiation date | The expiration date of the SPO agreement or DIL agreement. |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
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Logical Data Element | Description | |
SPO or DIL reason code | A field identifying the reason for the borrower entering into a SPO or DIL transaction | |
SPO or DIL Reason date | For loans that do not qualify for a HAMP trial modification or the borrower declines a mod, this is the date that a trial mod was not offered to the borrower or was not accepted by the borrower. For a borrower who did not successfullly complete a trial p | |
Property List Price | At notification this is the original list price of the property. At extension or correction, it is the latest list price of the property as of the extension or correction. At loan set up, it is the ending list price of the property as of the transaction | |
Property Vacancy Date | The SPO agreement or DIL agreement will state the date by which the property must be cacated, which in no event will be less than 30 calendar days from expeiration day of the SPO agreement (or any exstension thereof) or the date of a separate DIL agreement | |
Minimum net return to investor amount | The mimimum net return is the minimum acceptable net proceeds that the investor will accept from the transaction. The minimum net return must be reported as a dollar amount. | |
Mortgage insurance waiver approval indicator | For loans with MI coverage, this attribute indicates whether the MI provided delegations of authority to execute a SPO or DIL in accordance with the forreclosure alternative guidelines and waives any right to collect additional sums from the borrower. | |
UPB amount | The UPB of a loan as of the time of the SPO or DIL |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
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Logical Data Element | Description | |
Property sale or transaction amount | The sale or transfer price of the property. | |
Total Allowable Costs | The total allowable costs associated with selling the property that can be deducted from the gross sale price at closing. Allowable costs may include subordinate lien release amount, borrower relocation assistance, sales commission, closing costs for tax | |
Transaction Closing Date | the date on which the SPO or DIL transaction is closed | |
Subordinate Lien release reimbursement amount | The total amount of reimbursement paid by the ser4vicer to subordinate lien holder to secure release of subordinate lien. This amount may not exceed $3000 | |
SPO or DIL cancellation reason code | A field indicating the reason why a SPO or DIL transaction was cancelled. |
© 2008 Nationstar Mortgage LLC. “The information within this document is confidential and provided solely for the internal use of Nationstar Mortgage LLC. This document is an intellectual property of Nationstar Mortgage LLC, and is protected under copyright laws of the United States. This material should not be released to any third party supplier without the Previous written approval Nationstar Mortgage LLC.” |
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LIMITED POWER OF ATTORNEY
Signed and Acknowledged In the presence of the following witnesses: | Owner | ||||
Notary Public | ||||
PRICING SCHEDULE
Pricing | Description | |||||||
Base Fee | • | Loans less than 30 days delinquent | [*] | |||||
• | Loans 30-59 days delinquent | [*] | ||||||
• | Loans 60-89 days delinquent | [*] | ||||||
• | Loans >= 90 days delinquent | [*] | ||||||
Boarding Fee | • | Fee + actual out of pocket expenses (tax, flood, mers, assignments) | [*] | |||||
DeBoarding Fee | • | Fee + actual out of pocket expenses (shipping, tax, flood, mers, assignments, etc) | [*]0-12 mos[*]> 12 mos | |||||
Collections/Loss Mitigation Incentives: | If Opting into Treasury MHA Program | [*] | ||||||
• | Qualified Modifications | • | Payable to subservicer under Federal Program Workout Activity | |||||
• | Qualified Short Sales | • | Payable to subservicer under Federal Program Workout Activity | |||||
• | Qualified Deed in Lieus | • | Payable to subservicer under Federal Program Workout Activity | |||||
• | Qualified H4H | • | Payable to subservicer under Federal Program Workout Activity | |||||
Collection/Loss Mitigation Incentives: | Eligible for accounts greater than or equal to 60 days delinquent — Non Treasury MHA: | Incentive Fee: | ||||||
• | Reinstatement via lump-sum or repayment plan | • | Full reinstatement of all past due amounts as a result of collections, loss mitigation or other negotiation methods | [*] | ||||
• | Paid in full | • | Pay-off of all amounts due under the then existing note terms as a result of collections, loss mitigation or other negotiation methods | [*] | ||||
• | Third Party Sales | • | Asset sold to third party at foreclosure sale | [*] | ||||
• | Redemption | • | Borrwer exercises right of redemption according to state specific guideline | [*] | ||||
• | Deed-in-Lieu | • | Property deeded over to Asset owner | [*] | ||||
• | Short Sales | • | Receipt of funds pursuant to client approved plan | [*] | ||||
* | [Confidential treatment requested] |
Pricing | Description | |||||||
• | Note Sales | • | Receipt of funds pursuant to client approved plan | [*] | ||||
• | Modifications — < 60 Days Delinquent | • | Receipt of funds pursuant to client approved modification; requires AmGen pre-approval | [*] | ||||
• | Modifications — 60+ Days Delinquent | • | Receipt of funds pursuant to client approved modification | [*] | ||||
REO Sale Fee | Liquidation of REO Asset | Incentive Fee: | ||||||
• | Referral Fee | • | HSSS will negotiate and earn a referral fee of 1% or $1,250 from the real estate transaction | [*] | ||||
Recovery Incentive | • | Collection of charged-off deficiency balance | [*] | |||||
delinquencies are reflected using MBA delinquency method |
* | [Confidential treatment requested] |
TAX AND FLOOD LIST OF PREFERRED VENDORS
Tax and Flood List of Preferred Vendors
Expected | ||||||||
Delivery Time | ||||||||
G-1 Monthly Reports | (CST) | Report Group | AGF Report Names | |||||
Appendix A HAMP INITIAL LOAN SETUP DATA — Split by Securitizations & Unencumbered | Existing | 8:00 am (2) | BI | Hamp | ||||
Appendix B HAMP LOAN TRIAL PERIOD PAYMENTS — Split by Securitizations & Unencumbered | Existing | 8:00 am (2) | BI | Hamp | ||||
Appendix C HAMP LOAN SETUP DATA FOR OFFICIAL MOD - Split by Securitizations & Unencumbered | Existing | 8:00 am (2) | BI | Hamp | ||||
Appendix D HAMP LOAN PAYMENTS FOR OFFICIAL MODS - Split by Securitizations & Unencumbered | Existing | 8:00 am (2) | BI | Hamp | ||||
HAMP Master Recon | New | Midnight (3) | BI | Hamp Master Recon File | ||||
SR410UR-02 TRIAL BALANCE | Existing | 8:00 am (1) | LSAMS | P139 | ||||
SR410UR-03 CUTOFF TRANSACTION JOURNAL | Existing | 8:00 am (1) | LSAMS | S215 | ||||
SR410UR-05 CURTAILMENTS / PREPAYMENTS | Existing | 8:00 am (1) | LSAMS | S213 and S212 | ||||
SR410UR-06 LOANS REMOVED | Existing | 8:00 am (1) | LSAMS | S214 | ||||
SRV120C-01 MONTHLY ACCRUED INTEREST | New | 8:00 am (1) | LSAMS | New — Mortgage accruals | ||||
SRV126C-01 ACCRUED INTEREST TRIAL BALANCE | New | 8:00 am (1) | LSAMS | S2TT and T3TQ | ||||
IR Reporting Package with Latitude Reports | Existing | Midnight (2) | Investor Reporting | IR reports/latitude - P4CG, P4CQ and Escrow Advances. Must contain a new Daily Remittance Tie Out Report and HAMP Cash Recon. | ||||
Custom File | New | 6:00 am (1) | BI | Custom | ||||
LPMA File For 2010-1 Portfolio | New | Midnight (3) | BI | 12 Oversight Reports | ||||
Securitization remittance files for 2010-1 and 2006-1 | New | Midnight (3) | BI & Investor Reporting | Remittance 06 & 10 deal | ||||
Monthly modification data file for 2010-1 | New | Midnight (3) | BI & Investor Reporting | Compliment for 2010 securitization remittance | ||||
REO Monthly Client Package | New | Midnight (3) | BI & Investor Reporting | LPS Monthly Client Package | ||||
Annual LSAM’s Masterfile Extract for 2010-1 | New | Midnight (4) | BI & Investor Reporting | Oversight Report | ||||
G-2 Daily Reports | Expected Delivery Time (CST) | Report Group | AGF Report Names | |||||
SRV105C-01 LOAN TRANSFER REPORT | Existing | 8:00 am (1) | LSAMS | P129 and P130 | ||||
SRV111C-01 ACCRUED INTEREST REPORT | Existing | 8:00 am (1) | LSAMS | S2TT | ||||
SRV403C INVESTOR REMITTANCE DAILY PAYOFF REPORT | Existing | 8:00 am (1) | LSAMS | P110 | ||||
SRV511C-01 DAILY TRANSACTION JOURNAL | Existing | 8:00 am (1) | LSAMS | P102 and HELOC Advances | ||||
SRV583AR-01 DETAIL MORTGAGE TRIAL BALANCE | Existing | 8:00 am (1) | LSAMS | P181 detail | ||||
SRV583AR-02 SUMMARY MORTGAGE TRIAL BALANCE | Existing | 8:00 am (1) | LSAMS | P181 summary | ||||
LPMA Portfolio Oversight Files for Total Portfolio | Existing | 6:00 am (1) | BI | Oversight | ||||
Custom File | New | 6:00 am (1) | BI | Custom | ||||
Daily ACCRUED INTEREST | New | 6:00 am (1) | BI | New “SRV120 Daily Like” | ||||
REO Reporting Detail | New | 6:00 am (1) | BI | REO | ||||
HELOC Reporting Detail | New | 6:00 am (1) | BI | FM’s, Applied/unapplied and trend report |
(1) | Delivered Tuesday through Saturday, except company holidays, or in more general terms - available the morning following ENDDAY, if month end falls on a Saturday or Sunday and additional ENDDAY is ran — reports would be provided the next morning; Delivery method = SFTP |
(2) | Delivered by the end of business on the 3rd business day of the month. Delivery method = secure email |
(3) | Delivered by the end of business on the 5th calendar day of the month. Delivery method = secure email |
(4) | Delivered annually by the end of business on the 5th calendar day of April. Delivery method = secure email. Starting April 2011. |
SECURITY ASSESSMENT
Date | ||||||||
Number | Control Category | Issue Description | Remediation Required | Remediated | ||||
1 | Access Controls | a)Sufficient controls are not currently in place to ensure that access to premises and systems by terminated employees is revoked in a timely fashion. The following action items must be completed. | a)Implement controls to integrate the termination process across HR, management, and IT / Security to provide timely removal of physical and logical user access rights for all terminated employees. Termination processing should be weekly at a minimum. Application and system access should be recertified by management on an annual basis at minimum. | |||||
b)Contractors are currently not reviewed for access termination | b)Implement a formal review / recertification process for contractors. Review and renewal of access rights should be performed by management on a quarterly interval at minimum. | |||||||
2 | Access Controls | Personally identifiable information (PII) is not comprehensively scrubbed in test / development environments. | All sensitive data in test / development should be scrubbed. | |||||
3 | Access Controls | Currently, Nationstar technical staff have open access to production data | Access to production data by technical support staff should only be granted upon appropriate management approval, limited in scope to the specified purpose, and revoked when no longer justified. Access to production data should be reviewed and recertified quarterly. | |||||
4 | Access Controls | All developers have read / update access to all source code. | Access to source code for each application should be restricted to only those employees assigned to an application. A formal process for approvals and promotion of changes from development to separate and controlled QA and production environments should be implemented. |
Date | ||||||||
Number | Control Category | Issue Description | Remediation Required | Remediated | ||||
5 | Network Security Controls | The Nationstar network is protected by a single Nokia Checkpoint firewall and configured with 2 zones, core and external DMZ. A project is in place to create an additional DMZ zone to house the ecommerce application servers. The plan is to utilize the existing firewall for the new zone in addition to the current zone in place. Completion is scheduled for end of January 2011. While this offers greater protection and controls than currently in place, a vulnerability exploit in the Nokia Checkpoint would expose Nationstar to data compromise within both DMZ’s and the core. | A second firewall from another vendor should be implemented to strengthen protection of sensitive data. | |||||
6 | Network Security Controls | Remote access by employees is allowed through the Nationstar VPN from non-company owned devices with no checks for patch levels, virus scanning, or firewall. Dual factor authentication is not deployed. | Deploy dual factor authentication for remote users. Implement remote device scanning and block utilization of devices that do not meet minimum security requirements for antivirus, firewall, and operating system patch levels. | |||||
7 | Policy/Governance | Application updates for Remedy are currently released on an ad hoc basis as updates become available. Consistent change management controls are not in place for all applications. | Change management processes for all applications need to be formalized to scheduled, controlled release cycles and incorporate a formal QA process. | |||||
8 | Policy/Governance | Use of USB devices for removable media is permitted by exception approval only. Although a corporate, encrypted thumb drive is issued, there is no facility to prevent approved employees from using their own non-company devices. | Policy should be clearly defined and protection should be deployed to limit USB devices to company-issued only. | |||||
9 | Policy/Governance | No retention policy for personally identifiable information (PII) or business confidential data is currently defined and documented. | A policy governing retention guidelines should be created and enforced. | |||||
10 | Policy/Governance | Passwords are not allowed to repeat within the last 5 passwords used. | Increase the threshold on re-use of passwords to prevent repeating within the last 12 passwords used. |
Date | ||||||||
Number | Control Category | Issue Description | Remediation Required | Remediated | ||||
11 | Policy/Governance | Data owners are not currently identified to approve creation, access rights, or classification of data groups. No formal process exists for classification of data, structured or un-structured. Policies and procedures are defined but execution is ad hoc. | Ownership of data groups should be documented and a formal process established to classify company and customer confidential (sensitive) data. Formal processes for new data group creation, annual review, and recertification of access to sensitive data should be implemented. | |||||
12 | Disaster Recovery/Business Continuity | BIA’s have not been completed with the business areas. Business Continuity is not currently integrated into the disaster recovery testing process to ensure that all business critical applications and resources are included and successfully tested on an annual basis. | Complete BIA’s for all critical business areas. Document business continuity plans for each business area and ensure that all critical personnel and applications are included in annual testing. Table-top exercises should be completed fro each business area in scope. | |||||
13 | Disaster Recovery/Business Continuity | The disaster recovery site is located within 21 miles from the Nationstar data center. | An alternate location within a different region of the US should be established to decrease the probability of losing both primary and secondary locations during a catastrophic event. | |||||
14 | External Audit/Certification | A SAS 70 audit or equivalent has not been performed for Nationstar. | A SAS 70 audit or equivalent should be performed to assess overall Nationstar security posture. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
Modified Payment Logic | Process Payments by requiring Principal, Interest and Escrow portions of the payment before calling it a contractual payment and rolling the due date subject to the below exceptions. Exception for if an Escrowed loan, allow a $50 shortage and pull the shortage out of Escrow. | |||||
X | Exception for if not an Escrowed loan, allow a $5 shortage and pull the shortage out of Recoverable Corporate Advance. Followed Servicer Guidelines for Payment Overages. | |||||
Paid In Full Loans with Balances | X | If paid in full loan has a remaining balance of Escrow or Suspense, hold funds for 30 days to ensure any returned payments are received and netted out of the refund. | ||||
Pre-Payment Penalty (PPP) Waivers | X | Subservicer may waive the application of any related PPP if Subservicer reasonably believes doing so would maximize proceeds for the account. | ||||
Releasing Liens | X | Subservicer will release liens in accordance with the state requirements on paid in full and short sale loans. | ||||
Servicemembers Civil Relief Act | X | Subservicer will service loans qualified for the Servicemembers Civil Relief Act in accordance with the provisions of the law. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
Subordinations | X | Subservicer will consider a customer’s request for a Subordination of a Second Lien base upon the below criteria. Must have a current Interior Appraisal — Appraisal from Lender acceptable. CLTV must be less than 80% if greater than $1,000 Cash Out or between 80 — 95% with less than $1,000 Cash Out. | ||||
CLTV calculated by (the Good Faith Estimate Loan Amount + the Second Credit Limit) divided by the As Is Appraisal Value. Based upon Subservicer judgment, the customer must have good pay history on the Second lien and on the credit bureau. Based upon Subservicer judgment, Subservicer can also approve Subordination with the stipulation of closing the line of credit. | ||||||
Responding to Disputes and Written Complaints | X | Subservicer will respond promptly to any written inquiry from any Federal, State, County or City Agency or Organization as well as the Better Business Bureau with a copy to Servicer. Subservicer will follow all applicable laws, Subservicer’s written Complaint Resolution Process and good servicing practices as it relates to customer written complaints and disputes. | ||||
Credit Bureau reporting | X | Subservicer will report loans in compliance with the Fair Credit Reporting Act. | ||||
Setting Up Escrow | X | Subservicer will set up Escrow for customers who make the request. Subservicer will set up Escrow for customers who are not set up for Escrow but are modified under the HAMP program. Subservicer will set up Escrow for customers who are not set up for Escrow but Subservicer has had to pay delinquent taxes or establish a Creditor Placed Insurance Policy. Subservicer will follow all RESPA Requirements in relation to servicing Escrow Loans on behalf of Servicer. | ||||
Dissolving an Escrow Account | X | Subservicer will use its best judgment when a customer requests to dissolve an Escrow Account. At a minimum, customer should have a perfect pay history (0 x 30) for the past 24 months and the LTV should not be greater than 80%. | ||||
Interest on Escrow | X | Subservicer will follow all state requirements when by paying Interest On Escrow on a quarterly basis. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
Creditor Placed Insurance | X | For loans that are not set up for Escrow on Insurance, Subservicer will annually receive proof that the customers have a valid and paid for Hazard Insurance Policy. If the customers do not provide proof, Subservicer will set up a Creditor Placed Insurance Policy to cover the principal balance of the loan. Subservicer will set up an Escrow Account so Advance can be repaid over 12 months. | ||||
Payment of Delinquent Real Estate Taxes | X | As a rule of thumb, Subservicer should only pay delinquent taxes on behalf of a customer only if there is a risk of a Tax Sale within the next year (High Severity). However, Subservicer should use good business judgment when paying delinquent taxes on loans that are not Escrowed for Taxes. For example, if the delinquent taxes are given to a private company to collect with a high interest rate, it would be prudent to go ahead and pay those taxes even though they might not go to a Tax Sale. Would want to look at value of property and Balance as well. Subservicer will set up an Escrow Account so Advance can be repaid over 12 months. | ||||
Release of Hazard Insurance proceeds | X | Consistent with Subservicer Servicing Guidelines. | ||||
Applicable 1098, 1099A and 1099C IRS Reporting | X | Subservicer will provide customers and appropriate end of year reporting as required by law. This would include, but not be limited to, 1098, 1099A and 1099C reporting. | ||||
Hardship / Disaster | X | Servicer must be informed and approve approach / arrangements. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
Collections Efforts | X | Subservicer will follow all applicable collections laws including, but not limited to, FDCPA. Subservicer will have a dedicated staff assigned to Servicer Loans. Subservicer will staff with low spans of control for each delinquency bucket of Servicer Loans. Subservicer will make at least 1 collection phone attempt every 3 days on Servicer Loans. Subservicer will make multiple phone attempts using different strategies to contact customer beginning when a loan is 1 — 29 days past due. Subservicer will start collections attempts no later than 16 days past due (as early as 5 days past due for higher risk loans). Upon contact, Subservicer will ascertain reason for delinquency and ask for payment. Subservicer will continue to make collection calls for payments even if loan is in Foreclosure and/or Loss Mitigation. Subservicer will utilize a letter strategy that is consistent with Subservicer Guidelines. | ||||
Timing of Breach Notice | X | Typically at day 45 or at day 35 for loans in states that have implemented laws that require longer timeframes for NOI Letters. Consistent with Subservicer Servicing Guidelines. | ||||
After 2 consecutive monthly contractual payments and no deferment in the last 12 months, deferment can be offered. | ||||||
Delinquent Loans Deferment Plans for | X | Must collect the Escrow and Principal portions of the delinquent and current month payments in order to roll to the Next Due Date to Current (due for the next month). Exception, Deferments as described above are not approved for the Servicer Mortgage Loan Trust 2010-1 Securitization loans. | ||||
Loan must be greater than or equal to 30 days delinquent. 1/2 of arrears should be collected prior to the forbearance, if possible. | ||||||
Repayment Plans for | X | Remaining arrears to be collected over a 3 — 6 month period. 6 month max repayment plan term. | ||||
Follow all HAMP rules / process / reporting / guidelines including new required Directives. | ||||||
HAMP Modification | X | Participate in only the required programs unless approved by Servicer. Principal reductions not approved unless approved by Servicer at loan level. | ||||
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
HAFA Short Sale/DIL | X | Follow all HAFA rules/process/reporting/guidelines including new required Directives. Subservicer must use the Minimum Net Proceeds calculation Approved by Servicer. | ||||
HAUP Program | X | Follow all HAUP (Unemployment) rules / process / reporting / guidelines including new required Directives. | ||||
Custom Modification | X X X | X | HAMP must always be the first alternative for Loan Modifications. For loans less than 90 days past due and not eligible for HAMP, Subservicer will submit all Loan Modification packages to Servicer for approval. Loans greater than or equal to 90 days past due and not eligible for HAMP, a minimum of a 3 month Forbearance Plan is required before loan can be modified. NPV must exceed Foreclosure / REO, Short Sale and DIL best case. | |||
Forgiveness of principal, interest or other amounts outstanding / owed | X | All debt forgiveness of principal, interest or other outstanding arrears must be approved Servicer. | ||||
Short Sale | X X X X X X | X X | HAFA always the first alternative for Short Sales. Interior Appraisal Value less than 60 days old is required along with Hardship Letter from Customer. NPV must exceed Foreclosure / REO, Loan Modification and DIL base case. Realtor commissions not to exceed 5%. No cash out to seller. Sale Amount is compared to Appraisal to ensure value received. Servicer approval required on loans less than 90 Days past due. Servicer approval required on loans greater than or equal to 90 Days past due where Expected Loss exceeds $125,000. | |||
Deed — in — Lieu (DIL) | X X X X | HAFA always the first alternative for DIL. Interior Appraisal Value less than 60 days old is required along with Hardship Letter from Customer. Updated Title required. NPV must exceed Foreclosure / REO, Loan Modification and Short Sale base case. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
X X | Servicer approval required on loans less than 90 Days past due. Servicer approval required on loans greater than or equal to 90 Days past due where Expected Loss exceeds $125,000. | |||||
Delegated authority up to 3 monthly payments or 1% of the Unpaid Principal Balance, whichever is greater. | ||||||
Cash for Keys — DIL | X | Property must be left vacant and broom swept clean. Customer must permit an Interior Appraisal or BPO and execute DIL before receiving Proceeds. | ||||
Recoverable Corporate Advances | X | As allowed by law, Subservicer will charge any legal foreclosure or bankruptcy attorney cost or expense to the loan in the Recoverable Corporate Advance bucket so that the borrower will be responsible for paying these amounts back. | ||||
Foreclosure Referral 1st Liens | X | 1st liens will be referred within 3 days upon expiration of demand notice and no longer active in HAMP. | ||||
2nd Liens | X X | 1st liens with Principal Balances less than $60,000 or recent Interior Appraised/BPO Value of less than $15,000 must be approved by Servicer. Servicer to approve all 2nd lien referrals based on equity analysis. | ||||
HELOCs | X | For any Advance that is presented for payment of $10,000 or more, Subservicer will do a Signature Verification prior to acceptance of the advance. For any Advance that is presented for payment that is in the form of a Draft, Subservicer will decline payment and not post the transaction to the loan. For any Advance that is presented for payment less than $100, Subservicer will decline the payment and not post the transaction to the loan. If a HELOC loan that is still in the Draw Period goes 60 days past due, the line of credit will be shut down and an Adverse Action Notice will be sent to the customer. | ||||
Securitized Loans | X | For loans in the two Securitized Pools — 2006-1 and 2010-1, prior to the initiation of a Foreclosure Action, Subservicer will perform all actions necessary to transfer ownership of such Mortgage Loan to the appropriate Owner or Owner Designee Name. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
MERS | X | Prior to initiation of a Foreclosure Action, Subservicer will perform all actions necessary to transfer ownership of such Mortgage Loan from MERS to the appropriate Owner or Owner Designee Name. | ||||
Foreclosure Valuations | X | Within 180 days of Foreclosure Sale, an Interior Appraisal (if Vacant, Short Sale or DIL) is required or a BPO (prefer this to be done within 2 months of the Foreclosure Sale date if possible for the most current value). | ||||
Upon Completion of Foreclosure Sale, an Interior Appraisal (if Vacant, Short Sale or DIL) is required if the last Interior Appraisal is older than 180 days. If property occupied, a BPO is required if previous BPO is older than 180 days. | ||||||
Foreclosure Bidding Instructions | X | X | 85% of the most recent Interior Appraisal (vacant property) or BPO or the Pay-off, whichever is lower. Foreclosure Bids with Estimated Loss greater than $125,000 should be approved by Servicer. | |||
Property Preservation | X | Delegated authority up to a cumulative $10,000 for each property. | ||||
Foreclosure and Bankruptcy Fees and Costs | X | Must comply with most recent FNMA Fee Matrix. | ||||
Bankruptcy | X X | X | Subservicer will file for Motion For Relief after 2 missed payments on bankrupt loans. Subservicer will solicit all Active Bankruptcy Chapter 7 loans for Reaffirmations and will receive court approval. Subservicer cannot approve principal reductions on bankrupt loans without prior approval from Servicer. | |||
Charge-off Approval | X X | X | Accounts should be charged-off in the month in which the loan is 180 days past due and the lien is determined to no longer be valid. (e.g. senior lien foreclosure, third party sale foreclosure (3rd party outbids Servicer) or short sale completed). Subservicer has the authority to make charge-off decisions on 2nd liens with less than $30,000 equity. Charge-offs greater than $125,000 should be approved by Servicer. |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
Registering of REO Properties | X | Subservicer will follow all local jurisdiction property registering requirements as required by local ordinances and statutes. | ||||
Dwelling Insurance | X | Subservicer will adequately provide for dwelling insurance of all REO properties up to and including the value of the property. | ||||
Relocation Assistance to shorten Eviction - Cash For Keys | X | Limit of $2,000 for First Attempt. Second and greater Attempts limit is $2,500 for most recent Value of $0 — $250,000 or 1% of the most recent Value greater than $250,000. Property must be left in broom swept condition to receive proceeds. | ||||
REO List Price | X | An Interior Appraisal is required either for the Foreclosure Bid process, the Foreclosure Sale process or upon Vacancy once in REO. A BPO should also be received from the Real Estate Agent who is assigned the property to sell. REO Initial List Price should be set at the higher of the Interior Appraisal or BPO “As Is” value. If property being repaired, list using the “Repaired” value vs. the “As Is” value is acceptable. At 1 year and every year thereafter from the last Interior Appraisal Date, order a new Interior Appraisal unless the property is under contract. |
Every 30 Days. After 60 Days, use best judgment. | ||||||||||||||
Property Value | 30 Day Reduction | 60 Day Reduction | ||||||||||||
$0 — $24.9k | 18 | % | 14 | % | ||||||||||
REO List Price Reductions | X | $25 — $49.9k | 14 | % | 12 | % | ||||||||
$50 — $99.9k | 8 | % | 6 | % | ||||||||||
$100k+ | 5 | % | 5 | % |
Servicer Approval | ||||||
Action | Delegated Authority | Required | Terms and Conditions | |||
REO Repairs / Improvements | X | Delegated authority up to cumulative $10,000 for each property. Rule of thumb should be that the repair should increase the selling price by two times the expense. | ||||
Property Preservation /Emergency Repairs | X | Delegated authority up to cumulative $10,000 for each property. Rule of thumb should be that the repair should increase the selling price by two times the expense. | ||||
Acceptance of REO Sales Offer | X X | X | Offer must be greater than or equal to 92% of current list price. All other offers less than 92% will require Servicer approval. All REO Sales Contracts should be executed “As Is” and “Final”. | |||
Settlement of Litigated Accounts | X | Subservicer will provide monthly updates to Servicer as the status of any litigation loan in process. Servicer to approve all litigated files (initiated from outside party) based on recommendation by Subservicer and outside counsel. | ||||
Approval of any Form Letters | X | Subservicer will have Legal Approval of all Form Letters being sent to customers for any servicing reasons. | ||||
Regulatory Requests for Information or Exams | X | If Servicer receives data and/or exam requests from a State Regulatory Agency (for example: A Bureau of Financial Institutions), the request will be sent to Subservicer to retrieve data and/or provide answers and, with timely prior approval from Servicer, will provide the data or complete the exam or will send the information to Servicer for their response (Servicer decision). If Subservicer receives data and/or exam requests from a State Regulatory Agency on American General loans (for example: VA Bureau of Financial Institutions), Subservicer will notify American General within 10 days, will retrieve the data and/or complete the exam and, with timely prior approval from Servicer, will provide the data or exam to the requesting agency. | ||||
Solicitation of Customers | X | Subservicer will seek approval of any offer of any third party product or origination offer from Servicer prior to solicitation. In the event that Servicer approves of a Solicitation, Subservicer will eliminate any Do Not Solicit loans. |