Exhibit 99.4
Capmark Finance Inc.
Report on Compliance with Minimum
Master Servicing Standards
As of and for the Year Ended December 31, 2007
Management’s Assertion Concerning Compliance
With Minimum Master Servicing Standards
February 29, 2008
As of and for the year ended December 31, 2007, Capmark Finance Inc. has complied in all material respects, with the minimum master servicing standards set forth in the Company’s Master Servicing Policy (attached in exhibit II) which were derived from the Mortgage Banker’s Association of America’s Uniform Single Attestation Program for Mortgage Bankers. A listing of transactions associated with master servicing responsibility is listed in Exhibit I.
As of December 31, 2007, the Company was covered by insurance policies providing for $100 million of fidelity bond insurance and $100 million of errors and omission insurance.
/s/ Michael I. Lipson |
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Michael I. Lipson |
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Executive Vice President |
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Capmark Services |
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/s/ Joseph A. Funk |
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Joseph A. Funk |
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Managing Director |
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Capmark Services |
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Exhibit I
Capmark Finance Inc.
Transactions Associated with Master Servicing
Responsibilities
ACMF I, SERIES 1997-C1
ASC, SERIES 1996-D3
ASC, SERIES 1997-D4
ATHERTON, SERIES 1997-1
ATHERTON, SERIES 1998-A
ATHERTON, SERIES 1999-A
BACM, SERIES 2001-1
BANK OF AMERICA, SERIES 2002-X1
BKB, SERIES 1997-C1
CALSTRS, SERIES 2002-C6
CAPCO, SERIES 1998-D7
CAPMARK VI LTD
CAPMARK VII, LTD
CD, SERIES 2006-CD3
CD, SERIES 2007-CD4S
CDC, SERIES 2002-FX1
CGCMS, SERIES 2005-EMG
CGCMT, SERIES 2004-FL1
CHASE, SERIES 1996-1
CHASE, SERIES 1997-1
CHASE, SERIES 1997-2
CHASE, SERIES 1998-2
CHASE, SERIES 2001-FL1
CHASE-FIRST UNION, SERIES 1999-1
CITICORP, SERIES 1999-1
COLUMN, SERIES 2002-CCL1
COMM, SERIES 2001-J2
COMM, SERIES 2001-J2
COMM, SERIES 2003-LNB1
COMM, SERIES 2004-LNB2
COMM, SERIES 2004-LNB4
COMM, SERIES 2005-C6
COMM, SERIES 2005-FL11
COMM, SERIES 2006-FL12
CSFB SERIES 2005-C1
CSFB SERIES 2006-C1
CSFB, SERIES 1995-M1
CSFB, SERIES 1997-PS1
CSFB, SERIES 1998-PS2
CSFB, SERIES 1999-PS3
CSFB, SERIES 2000-C1
CSFB, SERIES 2000-PS4
CSFB, SERIES 2001-CF2
CSFB, SERIES 2001-SPG1
CSFB, SERIES 2005-C5
DEUTSCHE COMM, SERIES 2006-C8
DLJ, SERIES 1996-CF1
DLJ, SERIES 1997-CF1
ED I
ED II
EMAC, SERIES 1998-1
EMAC, SERIES 1999-1
EMAC, SERIES 2000-1
FMAC, SERIES 1991-A
FMAC, SERIES 1993-B
FMAC, SERIES 1994-A
FMAC, SERIES 1995-B
FMAC, SERIES 1996-B
FMAC, SERIES 1997-A
FMAC, SERIES 1997-B
FMAC, SERIES 1997-C
FMAC, SERIES 1998-A
FMAC, SERIES 1998-B
FMAC, SERIES 1998-C
FMAC, SERIES 1998-D
FMAC, SERIES 2000-A
FMHA
FNMA, SERIES 1998-M1
FOREST CITY, SERIES 1994-1
FREEHOLD RACEWAY MALL, SERIES 2001-FRM
G3 STRATEGIC INV. LP, SERIES 2002-WL1
GCCF, SERIES 2005-GG3
GE CMC, SERIES 2004-C1
GFCM, SERIES 2003-1
GIA, SERIES 2001-A
GMACCM HF1, SERIES 1999-1
GMACCM, SERIES 1997-C1
GMACCM, SERIES 1997-C2
GMACCM, SERIES 1998-C1
GMACCM, SERIES 1998-C2
GMACCM, SERIES 1999-C1
GMACCM, SERIES 1999-C2
GMACCM, SERIES 1999-C3
GMACCM, SERIES 1999-CTL1
GMACCM, SERIES 2000-C1
GMACCM, SERIES 2000-C2
GMACCM, SERIES 2000-C3
GMACCM, SERIES 2000-FLI
GMACCM, SERIES 2001-C1
GMACCM, SERIES 2001-C2
GMACCM, SERIES 2002-C1
GMACCM, SERIES 2002-C2
GMACCM, SERIES 2002-C3
GMACCM, SERIES 2002-FL1
GMACCM, SERIES 2003-C1
GMACCM, SERIES 2003-C2
GMACCM, SERIES 2003-C3
GMACCM, SERIES 2003-FL1
GMACCM, SERIES 2004-C1
GMACCM, SERIES 2004-C2
GMACCM, SERIES 2004-C3
GMACCM, SERIES 2005-C1
G-MAX, SERIES 2002-FX-1
GREENWICH, SERIES 2004-GG1
GSMC II, SERIES 2005-GG4
GSMSC II, SERIES 1997-GLI
GSMSC II, SERIES 1997-GLI
GSMSC II, SERIES 1998-C1
GSMSC II, SERIES 1998-GLII
GSMSC II, SERIES 1999-C1
GSMSC II, SERIES 2001-1285
GSMSC II, SERIES 2001-GL3
GSMSC II, SERIES 2001-ROCK
GSMSC II, SERIES 2003-C1
GSMSC II, SERIES 2004-C1
HUD
IPS SERIES 2005-1
JP MORGAN, SERIES 2002-C3
JP MORGAN, SERIES 2005-LDP5
JPMC SERIES 2004-CICBC10
JPMC, SERIES 2001-A
JPMC, SERIES 2001-CIBC1
JPMC, SERIES 2004-C1
JPMC, SERIES 2004-C2
JPMC, SERIES 2004-CIBC8
JPMC, SERIES 2004-CIBC9
JPMC, SERIES 2004-LN2
JPMC, SERIES 2005-CIBC11
JPMC, SERIES 2005-CIBC12
JPMC, SERIES 2005-LDP3
JPMC, SERIES 2005-LDP4
JPMC, SERIES 2007-FL1
JPMCC, SERIES 2006-FL2
LASALLE, SERIES 2005-MF1
LASALLE, SERIES 2006 MF2
LASALLE, SERIES 2006-MF3
LEHMAN BROTHERS HLDGS, INC
LEHMAN SERIES 1992-1
LEHMAN, SERIES 1995-C2
LEHMAN, SERIES 1996-C2
LEHMAN, SERIES 1998-C1
LIBRARY TOWER, SERIES 1998-1
LLL, SERIES 1997-LL1
LONG LANE MASTER TRUST IV
MCF, SERIES 1996-MC1
MCF, SERIES 1996-MC2
MCF, SERIES 1998-MC1
MCF, SERIES 1998-MC3
MERRILL SERIES 1996-C1
MERRILL, SERIES 1997-C1
MERRILL, SERIES 1998-C1-CTL
MERRILL, SERIES 2000-BMCC
MERRILL, SERIES 2000-C4
MERRILL, SERIES 2001-C5
MERRILL, SERIES 2002-BC2P
MERRILL, SERIES 2002-C7
MERRILL, SERIES 2002-C8
MERRILL, SERIES 2003 C-10
MERRILL, SERIES 2003-C9
MLMT, SERIES 2005-LC1
MORGAN, SERIES 1997-C1
MORGAN, SERIES 1997-XL I
MORGAN, SERIES 1998-CF1
MORGAN, SERIES 1998-HF1
MORGAN, SERIES 1998-HF2
MORGAN, SERIES 1999-RM1
MORGAN, SERIES 2002-HQ
MSCI, SERIES 2003-IQ5
MSCI, SERIES 2007-IQ13
MSDW CAPITAL I TRUST, SERIES 2002-IQ3
MSDW, SERIES 1997-HF1
MSDW, SERIES 1999-FNV1
MSDW, SERIES 2001-IQ
MSDW, SERIES 2001-PPM
MSDW, SERIES 2002-IQ2
MSDW, SERIES 2002-WM
MSDW, SERIES 2003-IQ4
MSDW, SERIES 2005-IQ10
NATIONS LINK, SERIES 1996-1
NEW ENGLAND MUTUAL LIFE, SERIES 1993-1
NOMURA MEGADEAL, SERIES 1995-MD IV
NOMURA MEGADEAL, SERIES 1996-MD V
NOMURA, SERIES 1993-1
NOMURA, SERIES 1996-MDVI
NOMURA, SERIES 1998-D6
OREGON, SERIES 1995-1
PAINE WEBBER, SERIES 1996-M1
PRUDENTIAL SEC CREDIT CORP.
RE ASSET LIQ TRUST, SERIES 2006-1
REAL - - T, SERIES 2004-1
SALOMON, SERIES 1999-C1
SALOMON, SERIES 2000-C1
SOVEREIGN, SERIES 2007-C1
TW HOTEL FUNDING, SERIES 2005-LUX
UBS, SERIES 2007-FL1
U-HAUL, SERIES 1993-1
USGI, INC
WACHOVIA, SERIES 2005-C21
Exhibit II
CAPMARK FINANCE INC.
Minimum Master Servicing Policy
I. CUSTODIAL BANK ACCOUNTS
1. Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:
· Be mathematically accurate;
· Be prepared within thirty (30) calendar days after the cutoff date;
· Be reviewed and approved by someone other than the person who prepared the reconciliation; and
· Document explanations for reconciling items. These reconciling items shall be resolved within ninety (90) calendar days of identification.
2. Funds of the servicing entity shall be advanced as specified in the servicing agreement in cases where there is an overdraft in an investor’s or a mortgagor’s account.
3. All cash for each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor or in an investment account in accordance with the applicable servicing agreement requirements.
4. Escrow funds held in trust for a mortgagor shall be returned to the mortgagor within thirty (30) calendar days of payoff of the mortgage loan.
II. MORTGAGE PAYMENTS
1. Mortgage payments which are properly identified with the Company’s account number and which agree to the total amount of the scheduled payment due shall be deposited into the clearing bank accounts and related custodial bank accounts within two business days of receipt. Any mortgage payments which do not meet these parameters will be researched and deposited into the appropriate bank accounts within five business days of receipt.
2. Mortgage payments made in accordance with the mortgagor’s loan documents shall be posted to the applicable mortgagor records within two business days of receipt.
III. DISBURSEMENTS
1. Disbursements made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.
2. Amounts remitted to investors per the servicer’s investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements.
IV. INVESTOR ACCOUNTING AND REPORTING
1. The servicing entity’s investor reports shall agree with, or reconcile to, investors records on a monthly basis as to the total unpaid principal balance and number of loans serviced by the servicing entity.
V. INSURANCE POLICIES
1. A fidelity bond and errors and omissions policy shall be in effect on the servicing entity in the amount of coverage represented to investors in management’s assertion.
VI. MONITORING OF SUBSERVICER COMPLIANCE
1. Within 120 days of calendar year end or subservicer’s year end, the subservicer’s management assertions about compliance with minimum servicing standards, which were derived from the Mortgage Banker’s Association of America’s Uniform Single Attestation Program for Mortgage Bankers, and the Independent Auditors Report on management’s assertions shall be reviewed, and if material exceptions are found, appropriate corrective action will be taken.
2. An annual certification from each subservicer stating that the subservicer is in compliance with its subservicing agreement shall be obtained for the previous calendar year.