SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: March 30, 2000
(Date of earliest event reported)
Commission File No. 333-65481
Norwest Asset Securities Corporation
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Delaware 52-1972128
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(State of Incorporation) I.R.S. Employer Identification No.
7485 New Horizon Way, Frederick, Maryland 21703
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Address of principal executive offices (Zip Code)
(301) 846-8881
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
ITEM 5. Other Events
------------
On March 30, 2000, Norwest Asset Securities Corporation, a Delaware corporation
(the "Registrant"), sold Mortgage Pass-Through Certificates, Series 2000-2,
Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7,
Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-R, Class B-1,
Class B-2 and Class B-3 (the "Offered Certificates"), having an aggregate
original principal balance of $375,427,100. The Offered Certificates were issued
pursuant to a Pooling and Servicing Agreement, dated as of March 30, 2000, among
the Registrant, Norwest Bank Minnesota, National Association, as master servicer
(the "Master Servicer" or "Norwest Bank") and First Union National Bank, as
trustee (the "Agreement"), a copy of which is filed as an exhibit hereto.
Mortgage Pass-Through Certificates, Series 2000-2, Class A-PO Certificates,
having an aggregate initial principal balance of $1,801,599.78, and Class B-4,
Class B-5 and Class B-6 Certificates, having an aggregate initial principal
balance of $2,851,212.79 (the "Private Class B Certificates" and, together with
the Class A-PO Certificates and the Offered Certificates, the "Certificates"),
were also issued pursuant to the Agreement.
As of the date of initial issuance, the Offered Certificates evidenced an
approximate 98.78% undivided interest in a trust fund (the "Trust Estate"),
consisting principally of a pool of fixed interest rate, conventional, monthly
pay, fully-amortizing, one-to four-family residential first mortgage loans,
other than the Fixed Retained Yield (as defined in the Agreement), which may
include loans secured by shares issued by cooperative housing corporations. The
remaining undivided interests in the Trust Estate are evidenced by the Class
A-PO and Private Class B Certificates. Distributions on the Private Class B
Certificates are subordinated to distributions on the Offered Certificates and
the Class A-PO Certificates.
Interest on the Offered Certificates will be distributed on each Distribution
Date (as defined in the Agreement). Monthly distributions in reduction of the
principal balance of the Offered Certificates will be allocated to the Offered
Certificates in accordance with the priorities set forth in the Agreement.
Distributions of interest and in reduction of principal balance on any
Distribution Date will be made to the extent that the Pool Distribution Amount
is sufficient therefor.
An election will be made to treat the Trust Estate as a REMIC for federal income
tax purposes (the "REMIC"). The Class A-1, Class A-2, Class A-3, Class A-4,
Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11,
Class A-12, Class A-PO, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5
and Class B-6 Certificates will be treated as "regular interests" in the REMIC
and the Class A-R Certificate will be treated as the "residual interest" in the
REMIC.
<PAGE>
ITEM 7. Financial Statements and Exhibits
---------------------------------
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(EX-4) Pooling and Servicing Agreement, dated as
of March 30, 2000, among Norwest Asset
Securities Corporation, Norwest Bank
Minnesota, National Association and First
Union National Bank, as trustee.
<PAGE>
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORWEST ASSET SECURITIES CORPORATION
March 30, 2000
/s/ Alan S. McKenney
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Alan S. McKenney
Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Paper (P) or
Exhibit No. Description Electronic (E)
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(EX-4) Pooling and Servicing E
Agreement, dated as of March 30, 2000
among Norwest Asset Securities
Corporation, Norwest Bank Minnesota,
National Association and First Union
National Bank, as trustee.
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NORWEST ASSET SECURITIES CORPORATION
(Seller)
and
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
(Master Servicer)
and
FIRST UNION NATIONAL BANK
(Trustee)
POOLING AND SERVICING AGREEMENT
Dated as of March 30, 2000
$380,079,912.57
Mortgage Pass-Through Certificates
Series 2000-2
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<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
Section 1.01 Definitions...................................................
Section 1.02 Acts of Holders...............................................
Section 1.03 Effect of Headings and Table of Contents......................
Section 1.04 Benefits of Agreement.........................................
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF THE CERTIFICATES
Section 2.01 Conveyance of Mortgage Loans..................................
Section 2.02 Acceptance by Trustee.........................................
Section 2.03 Representations and Warranties of the Master Servicer and
the Seller...................................................
Section 2.04 Execution and Delivery of Certificates........................
Section 2.05 Designation of Certificates; Designation of Startup Day
and Latest Possible Maturity Date............................
ARTICLE III
ADMINISTRATION OF THE TRUST ESTATE: SERVICING
OF THE MORTGAGE LOANS
Section 3.01 Certificate Account...........................................
Section 3.02 Permitted Withdrawals from the Certificate Account............
Section 3.03 Advances by Master Servicer and Trustee.......................
Section 3.04 Trustee to Cooperate; Release of Owner Mortgage Loan
Files........................................................
Section 3.05 Reports to the Trustee; Annual Compliance Statements..........
Section 3.06 Title, Management and Disposition of Any REO Mortgage
Loan.........................................................
Section 3.07 Amendments to Servicing Agreements, Modification of
Standard Provisions..........................................
Section 3.08 Oversight of Servicing........................................
Section 3.09 Termination and Substitution of Servicing Agreements..........
Section 3.10 Application of Net Liquidation Proceeds.......................
Section 3.11 Act Reports...................................................
ARTICLE IV
DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
PAYMENTS TO CERTIFICATEHOLDERS;
STATEMENTS AND REPORTS
Section 4.01 Distributions.................................................
Section 4.02 Allocation of Realized Losses.................................
Section 4.03 Paying Agent..................................................
Section 4.04 Statements to Certificateholders; Report to the Trustee
and the Seller...............................................
Section 4.05 Reports to Mortgagors and the Internal Revenue Service........
Section 4.06 Calculation of Amounts; Binding Effect of Interpretations
and Actions of Master Servicer...............................
ARTICLE V
THE CERTIFICATES
Section 5.01 The Certificates..............................................
Section 5.02 Registration of Certificates..................................
Section 5.03 Mutilated, Destroyed, Lost or Stolen Certificates.............
Section 5.04 Persons Deemed Owners.........................................
Section 5.05 Access to List of Certificateholders' Names and Addresses.....
Section 5.06 Maintenance of Office or Agency...............................
Section 5.07 Definitive Certificates.......................................
Section 5.08 Notices to Clearing Agency....................................
ARTICLE VI
THE SELLER AND THE MASTER SERVICER
Section 6.01 Liability of the Seller and the Master Servicer...............
Section 6.02 Merger or Consolidation of the Seller or the Master
Servicer.....................................................
Section 6.03 Limitation on Liability of the Seller, the Master
Servicer and Others..........................................
Section 6.04 Resignation of the Master Servicer............................
Section 6.05 Compensation to the Master Servicer...........................
Section 6.06 Assignment or Delegation of Duties by Master Servicer.........
Section 6.07 Indemnification of Trustee and Seller by Master Servicer......
ARTICLE VII
DEFAULT
Section 7.01 Events of Default.............................................
Section 7.02 Other Remedies of Trustee.....................................
Section 7.03 Directions by Certificateholders and Duties of Trustee
During Event of Default......................................
Section 7.04 Action upon Certain Failures of the Master Servicer and
upon Event of Default........................................
Section 7.05 Trustee to Act; Appointment of Successor......................
Section 7.06 Notification to Certificateholders............................
ARTICLE VIII
CONCERNING THE TRUSTEE
Section 8.01 Duties of Trustee.............................................
Section 8.02 Certain Matters Affecting the Trustee.........................
Section 8.03 Trustee Not Required to Make Investigation....................
Section 8.04 Trustee Not Liable for Certificates or Mortgage Loans.........
Section 8.05 Trustee May Own Certificates..................................
Section 8.06 The Master Servicer to Pay Fees and Expenses..................
Section 8.07 Eligibility Requirements......................................
Section 8.08 Resignation and Removal.......................................
Section 8.09 Successor.....................................................
Section 8.10 Merger or Consolidation.......................................
Section 8.11 Authenticating Agent..........................................
Section 8.12 Separate Trustees and Co-Trustees.............................
Section 8.13 Appointment of Custodians.....................................
Section 8.14 Tax Matters; Compliance with REMIC Provisions.................
Section 8.15 Monthly Advances..............................................
ARTICLE IX
TERMINATION
Section 9.01 Termination upon Purchase by the Seller or Liquidation of
All Mortgage Loans...........................................
Section 9.02 Additional Termination Requirements...........................
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01 Amendment.....................................................
Section 10.02 Recordation of Agreement......................................
Section 10.03 Limitation on Rights of Certificateholders....................
Section 10.04 Governing Law; Jurisdiction...................................
Section 10.05 Notices.......................................................
Section 10.06 Severability of Provisions....................................
Section 10.07 Special Notices to Rating Agencies............................
Section 10.08 Covenant of Seller............................................
Section 10.09 Recharacterization............................................
ARTICLE XI
TERMS FOR CERTIFICATES
Section 11.01 Class A Fixed Pass-Through Rate...............................
Section 11.02 Cut-Off Date..................................................
Section 11.03 Cut-Off Date Aggregate Principal Balance......................
Section 11.04 Original Class A Percentage...................................
Section 11.05 Original Principal Balances of the Classes of Class A
Certificates.................................................
Section 11.06 Original Class A Non-PO Principal Balance.....................
Section 11.07 Original Subordinated Percentage..............................
Section 11.08 Original Class B-1 Percentage.................................
Section 11.09 Original Class B-2 Percentage.................................
Section 11.10 Original Class B-3 Percentage.................................
Section 11.11 Original Class B-4 Percentage.................................
Section 11.12 Original Class B-5 Percentage.................................
Section 11.13 Original Class B-6 Percentage.................................
Section 11.14 Original Class B Principal Balance............................
Section 11.15 Original Principal Balances of the Classes of Class B
Certificates.................................................
Section 11.16 Original Class B-1 Fractional Interest........................
Section 11.17 Original Class B-2 Fractional Interest........................
Section 11.18 Original Class B-3 Fractional Interest........................
Section 11.19 Original Class B-4 Fractional Interest........................
Section 11.20 Original Class B-5 Fractional Interest........................
Section 11.21 Closing Date..................................................
Section 11.22 Right to Purchase.............................................
Section 11.23 Wire Transfer Eligibility.....................................
Section 11.24 Single Certificate............................................
Section 11.25 Servicing Fee Rate............................................
Section 11.26 Master Servicing Fee Rate.....................................
EXHIBITS
--------
EXHIBIT A-1 - Form of Face of Class A-1 Certificate
EXHIBIT A-2 - Form of Face of Class A-2 Certificate
EXHIBIT A-3 - Form of Face of Class A-3 Certificate
EXHIBIT A-4 - Form of Face of Class A-4 Certificate
EXHIBIT A-5 - Form of Face of Class A-5 Certificate
EXHIBIT A-6 - Form of Face of Class A-6 Certificate
EXHIBIT A-7 - Form of Face of Class A-7 Certificate
EXHIBIT A-8 - Form of Face of Class A-8 Certificate
EXHIBIT A-9 - Form of Face of Class A-9 Certificate
EXHIBIT A-10 - Form of Face of Class A-10 Certificate
EXHIBIT A-11 - Form of Face of Class A-11Certificate
EXHIBIT A-12 - Form of Face of Class A-12 Certificate
EXHIBIT A-PO - Form of Face of Class A-PO Certificate
EXHIBIT A-R - Form of Face of Class A-R Certificate
EXHIBIT B-1 - Form of Face of Class B-1 Certificate
EXHIBIT B-2 - Form of Face of Class B-2 Certificate
EXHIBIT B-3 - Form of Face of Class B-3 Certificate
EXHIBIT B-4 - Form of Face of Class B-4 Certificate
EXHIBIT B-5 - Form of Face of Class B-5 Certificate
EXHIBIT B-6 - Form of Face of Class B-6 Certificate
EXHIBIT C - Form of Reverse of Series 2000-2 Certificates
EXHIBIT D - Reserved
EXHIBIT E - Custodial Agreement
EXHIBIT F-1 - Schedule of Mortgage Loans Serviced by Norwest
Mortgage in locations other than Frederick, Maryland
EXHIBIT F-2 - Schedule of Mortgage Loans Serviced by Norwest
Mortgage in Frederick, Maryland
EXHIBIT F-3 - Schedule of Mortgage Loans Serviced by Other Servicers
EXHIBIT G - Request for Release
EXHIBIT H - Affidavit Pursuant to Section 860E(e)(4) of the
Internal Revenue Code of 1986, as amended, and for
Non-ERISA Investors
EXHIBIT I - Letter from Transferor of Residual Certificates
EXHIBIT J - Transferee's Letter (Class [A-PO][B-4][B-5][B-6]
Certificates)
EXHIBIT K - Transferee's Letter (Class [B-1][B-2][B-3]
Certificates)
EXHIBIT L - Servicing Agreements
EXHIBIT M - Form of Special Servicing Agreement
<PAGE>
This Pooling and Servicing Agreement, dated as of March 30, 2000
executed by NORWEST ASSET SECURITIES CORPORATION, as Seller, NORWEST BANK
MINNESOTA, NATIONAL ASSOCIATION, as Master Servicer and FIRST UNION NATIONAL
BANK, as Trustee.
WITNESSETH THAT:
In consideration of the mutual agreements herein contained, the
Seller, the Master Servicer and the Trustee agree as follows:
ARTICLE I
DEFINITIONS
SECTION 1.01 DEFINITIONS.
Whenever used herein, the following words and phrases, unless the
context otherwise requires, shall have the meanings specified in this Article.
Accepted Master Servicing Practices: Accepted Master Servicing
Practices shall consist of the customary and usual master servicing practices of
prudent master servicing institutions which service mortgage loans of the same
type as the Mortgage Loans in the jurisdictions in which the related Mortgaged
Properties are located, regardless of the date upon which the related Mortgage
Loans were originated.
Accretion Directed Certificates: The Class A-1, Class A-7, Class
A-8, Class A-9, Class A-10 and Class A-11 Certificates.
Accretion Termination Date: (A) for the Class A-2 Certificates will
be the earlier to occur of (i) the Distribution Date following the Distribution
Date on which the Principal Balances of the Class A-1, Class A-7, Class A-8,
Class A-9, Class A-10 and Class A-11 Certificates have been reduced to zero or
(ii) the Cross-Over Date; (B) for the Class A-8 Certificates will be the earlier
to occur of (i) the Distribution Date following the Distribution Date on which
the Principal Balance of the Class A-7 Certificates has been reduced to zero or
(ii) the Cross-Over Date; and (C) for the Class A-11 Certificates will be the
earlier to occur of (i) the Distribution Date following the Distribution Date on
which the Principal Balance of the Class A-9 Certificates has been reduced to
zero or (ii) the Cross-Over Date.
Accrual Certificates: The Class A-2, Class A-8 and Class A-11
Certificates.
Accrual Distribution Amount: As to any Distribution Date prior to
the applicable Accretion Termination Date and any Class of Accrual Certificates,
an amount equal to the sum of (i) the Class A Interest Percentage of such Class
of Accrual Certificates of the Current Class A Interest Distribution Amount and
(ii) the Class A Interest Shortfall Percentage of such Class of Accrual
Certificates of the amount distributed in respect of the Classes of Class A
Certificates pursuant to Paragraph second of Section 4.01(a) on such
Distribution Date. As to any Distribution Date on or after the applicable
Accretion Termination Date, zero.
Adjusted Pool Amount: With respect to any Distribution Date, the
Cut-Off Date Aggregate Principal Balance of the Mortgage Loans minus the sum of
(i) all amounts in respect of principal received in respect of the Mortgage
Loans (including, without limitation, amounts received as Monthly Payments,
Periodic Advances, Unscheduled Principal Receipts and Substitution Principal
Amounts) and distributed to Holders of the Certificates on such Distribution
Date and all prior Distribution Dates and (ii) the principal portion of all
Realized Losses (other than Debt Service Reductions) incurred on the Mortgage
Loans from the Cut-Off Date through the end of the month preceding such
Distribution Date.
Adjusted Pool Amount (PO Portion): With respect to any Distribution
Date, the sum of the amounts, calculated as follows, with respect to all
Outstanding Mortgage Loans: the product of (i) the PO Fraction for each such
Mortgage Loan and (ii) the remainder of (A) the Cut-Off Date Principal Balance
of such Mortgage Loan minus (B) the sum of (x) all amounts in respect of
principal received in respect of such Mortgage Loan (including, without
limitation, amounts received as Monthly Payments, Periodic Advances, Unscheduled
Principal Receipts and Substitution Principal Amounts) and distributed to
Holders of the Certificates on such Distribution Date and all prior Distribution
Dates and (y) the principal portion of any Realized Loss (other than a Debt
Service Reduction) incurred on such Mortgage Loan from the Cut-Off Date through
the end of the month preceding such Distribution Date.
Adjusted Principal Balance: As to any Distribution Date and any
Class of Class B Certificates, the greater of (A) zero and (B) (i) the Principal
Balance of such Class with respect to such Distribution Date minus (ii) the
Adjustment Amount for such Distribution Date less the Principal Balances for any
Classes of Class B Certificates with higher numerical designations.
Adjustment Amount: For any Distribution Date, the difference between
(A) the sum of the Class A Principal Balance and Class B Principal Balance as of
the related Determination Date and (B) the sum of (i) the sum of the Class A
Principal Balance and Class B Principal Balance as of the Determination Date
succeeding such Distribution Date, (ii) the principal portion of Excess Special
Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses allocated to the
Certificates with respect to such Distribution Date and (iii) the aggregate
amount that would have been distributed to all Classes as principal in
accordance with Section 4.01(a) for such Distribution Date without regard to the
provisos in the definitions of Class B-1 Optimal Principal Amount, Class B-2
Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal
Principal Amount, Class B-5 Optimal Principal Amount and Class B-6 Optimal
Principal Amount.
Aggregate Class A Distribution Amount: As to any Distribution Date,
the aggregate amount distributable to the Classes of Class A Certificates
pursuant to Paragraphs first, second, third and fourth of Section 4.01(a) on
such Distribution Date.
Aggregate Class A Unpaid Interest Shortfall: As to any Distribution
Date, an amount equal to the sum of the Class A Unpaid Interest Shortfalls for
all the Classes of Class A Certificates.
Aggregate Current Bankruptcy Losses: With respect to any
Distribution Date, the sum of all Bankruptcy Losses incurred on any of the
Mortgage Loans in the month preceding the month of such Distribution Date.
Aggregate Current Fraud Losses: With respect to any Distribution
Date, the sum of all Fraud Losses incurred on any of the Mortgage Loans in the
month preceding the month of such Distribution Date.
Aggregate Current Special Hazard Losses: With respect to any
Distribution Date, the sum of all Special Hazard Losses incurred on any of the
Mortgage Loans in the month preceding the month of such Distribution Date.
Aggregate Liquidation Profits: As to any Distribution Date, the
aggregate amount of Liquidation Profits with respect to all of the Mortgage
Loans.
Agreement: This Pooling and Servicing Agreement and all amendments
and supplements hereto.
Applicable Unscheduled Principal Receipt Period: With respect to the
Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal
Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal
Receipt Period specified on Schedule I hereto, as amended from time to time by
the Master Servicer pursuant to Section 10.01(b) hereof.
Authenticating Agent: Any authenticating agent appointed by the
Trustee pursuant to Section 8.11. There shall initially be no Authenticating
Agent for the Certificates.
Available Master Servicer Compensation: As to any Distribution Date,
the sum of (a) the Master Servicing Fee for such Distribution Date, (b) interest
earned through the business day preceding the applicable Distribution Date on
any Prepayments in Full remitted to the Master Servicer and (c) the aggregate
amount of Month End Interest remitted by the Servicers to the Master Servicer
pursuant to the related Servicing Agreements.
Bankruptcy Code: The Bankruptcy Code of 1978, as amended.
Bankruptcy Loss: With respect to any Mortgage Loan, a Deficient
Valuation or Debt Service Reduction; provided, however, that a Bankruptcy Loss
shall not be deemed a Bankruptcy Loss hereunder so long as the applicable
Servicer has notified the Master Servicer and the Trustee in writing that such
Servicer is diligently pursuing any remedies that may exist in connection with
the representations and warranties made regarding the related Mortgage Loan and
either (A) the related Mortgage Loan is not in default with regard to payments
due thereunder or (B) delinquent payments of principal and interest under the
related Mortgage Loan and any premiums on any applicable primary hazard
insurance policy and any related escrow payments in respect of such Mortgage
Loan are being advanced on a current basis by such Servicer without giving
effect to any Debt Service Reduction.
Bankruptcy Loss Amount: As of any Distribution Date prior to the
first anniversary of the Cut-Off Date, the Bankruptcy Loss Amount will equal
$100,000.00 minus the aggregate amount of Bankruptcy Losses allocated solely to
the Class B Certificates in accordance with Section 4.02(a) since the Cut-Off
Date. As of any Distribution Date on or after the first anniversary of the
Cut-Off Date, an amount equal to (1) the lesser of (a) the Bankruptcy Loss
Amount calculated as of the close of business on the Business Day immediately
preceding the most recent anniversary of the Cut-Off Date coinciding with or
preceding such Distribution Date (the "Relevant Anniversary") and (b) such
lesser amount which, as determined on the Relevant Anniversary will not cause
any rated Certificates to be placed on credit review status (other than for
possible upgrading) by either Rating Agency minus (2) the aggregate amount of
Bankruptcy Losses allocated solely to the Class B Certificates in accordance
with Section 4.02(a) since the Relevant Anniversary. On and after the Cross-Over
Date the Bankruptcy Loss Amount shall be zero.
Beneficial Owner: With respect to a Book-Entry Certificate, the
Person who is the beneficial owner of such Book-Entry Certificate, as reflected
on the books of the Clearing Agency, or on the books of a Person maintaining an
account with such Clearing Agency (directly or as an indirect participant, in
accordance with the rules of such Clearing Agency), as the case may be.
Book-Entry Certificate: Any one of the Class A-1 Certificates, Class
A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates and Class A-12 Certificates, beneficial ownership and transfers of
which shall be evidenced by, and made through, book entries by the Clearing
Agency as described in Section 5.01(b).
Business Day: Any day other than (i) a Saturday or a Sunday, or (ii)
a legal holiday in the City of New York, State of Iowa, State of Maryland, State
of Minnesota or State of North Carolina or (iii) a day on which banking
institutions in the City of New York, or the State of Iowa, State of Maryland,
State of Minnesota or State of North Carolina are authorized or obligated by law
or executive order to be closed.
Certificate: Any one of the Class A Certificates or Class B
Certificates.
Certificate Account: The trust account established and maintained by
the Master Servicer in the name of the Master Servicer on behalf of the Trustee
pursuant to Section 3.01. The Certificate Account shall be an Eligible Account.
Certificate Custodian: Initially, First Union National Bank;
thereafter any other Certificate Custodian acceptable to The Depository Trust
Company and selected by the Trustee.
Certificate Register and Certificate Registrar: Respectively, the
register maintained pursuant to and the registrar provided for in Section 5.02.
The initial Certificate Registrar is the Trustee.
Certificateholder or Holder: The Person in whose name a Certificate
is registered in the Certificate Register, except that, solely for the purposes
of the taking of any action under Articles VII or VIII, any Certificate
registered in the name of the Master Servicer, a Servicer or any affiliate
thereof shall be deemed not to be outstanding and the Voting Interest evidenced
thereby shall not be taken into account in determining whether the requisite
percentage of Certificates necessary to effect any such action has been
obtained.
Class: All certificates whose form is identical except for
variations in the Percentage Interest evidenced thereby.
Class A Certificate: Any one of the Class A-1 Certificates, Class
A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates, Class A-12 Certificates, Class A-PO Certificates or Class A-R
Certificate.
Class A Certificateholder: The registered holder of a Class A
Certificate.
Class A Distribution Amount: As to any Distribution Date and any
Class of Class A Certificates (other than the Class A-2, Class A-8, Class A-11
and Class A-PO Certificates), the amount distributable to such Class of Class A
Certificates pursuant to Paragraphs first, second and third clause (A) of
Section 4.01(a). As to the Class A-2, Class A-8 and Class A-11 Certificates, (a)
as to any Distribution Date prior to the applicable Accretion Termination Date,
the amount distributable to such Class of Accrual Certificates pursuant to the
provisos in Paragraphs first and second of Section 4.01(a) and Paragraph third
clause (A) of Section 4.01(a) and (b) as to any Distribution Date on or after
the applicable Accretion Termination Date, the amount distributable to such
Class of Accrual Certificates pursuant to Paragraphs first, second and third
clause (A) of Section 4.01(a). As to any Distribution Date and the Class A-PO
Certificates, the amount distributable to the Class A-PO Certificates pursuant
to Paragraphs third clause (B) and fourth of Section 4.01(a) on such
Distribution Date.
Class A Fixed Pass-Through Rate: As to any Distribution Date, the
rate per annum set forth in Section 11.01.
Class A Interest Accrual Amount: As to any Distribution Date, the
sum of the Interest Accrual Amounts for the Classes of Class A Certificates with
respect to such Distribution Date.
Class A Interest Percentage: As to any Distribution Date and any
Class of Class A Certificates, the percentage calculated by dividing the
Interest Accrual Amount of such Class (determined without regard to clause (ii)
of the definition thereof) by the Class A Interest Accrual Amount (determined
without regard to clause (ii) of the definition of each Interest Accrual
Amount).
Class A Interest Shortfall Amount: As to any Distribution Date and
any Class of Class A Certificates, any amount by which the Interest Accrual
Amount of such Class with respect to such Distribution Date exceeds the amount
distributed in respect of such Class on such Distribution Date pursuant to
Paragraph first of Section 4.01(a) including, in the case of a Class of Accrual
Certificates prior to the applicable Accretion Termination Date, the amount
included in the Accrual Distribution Amount pursuant to clause (i) of the
definition thereof.
Class A Interest Shortfall Percentage: As to any Distribution Date
and any Class of Class A Certificates the percentage calculated by dividing the
Class A Unpaid Interest Shortfall for such Class by the Aggregate Class A Unpaid
Interest Shortfall determined as of the Business Day preceding the applicable
Distribution Date.
Class A Loss Denominator: As to any Determination Date, an amount
equal to the sum of (i) the Principal Balances of the Class A Certificates
(other than the Accrual Certificates and the Class A-PO Certificates); and (ii)
with respect to each Class of Accrual Certificates, the lesser of the Principal
Balance of such Class of Accrual Certificates and the Original Principal Balance
of such Class of Accrual Certificates.
Class A Loss Percentage: As to any Determination Date and any Class
of Class A Certificates (other than the Class A-PO Certificates) then
outstanding, the percentage calculated by dividing the Principal Balance of such
Class (or, in the case of a Class of Accrual Certificates, the Original
Principal Balance of such Class if lower) by the Class A Loss Denominator
(determined without regard to any such Principal Balance of any Class of Class A
Certificates not then outstanding), in each case determined as of the preceding
Determination Date.
Class A Non-PO Optimal Amount: As to any Distribution Date, the sum
for such Distribution Date of (i) the Class A Interest Accrual Amount, (ii) the
Aggregate Class A Unpaid Interest Shortfall and (iii) the Class A Non-PO Optimal
Principal Amount.
Class A Non-PO Optimal Principal Amount: As to any Distribution
Date, an amount equal to the sum, as to each Outstanding Mortgage Loan, of the
product of (x) the Non-PO Fraction with respect to such Mortgage Loan, and (y)
the sum of:
(i) the Class A Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class A Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class A Prepayment Percentage of the Scheduled Principal Balance
of such Mortgage Loan which, during the month preceding the month of such
Distribution Date, was repurchased by the Seller pursuant to Section 2.02
or 2.03; and
(iv) the Class A Percentage of the excess of the unpaid principal balance
of such Mortgage Loan substituted for a defective Mortgage Loan during the
month preceding the month in which such Distribution Date occurs over the
unpaid principal balance of such defective Mortgage Loan, less the amount
allocable to the principal portion of any unreimbursed Periodic Advances
previously made by the applicable Servicer, the Master Servicer or the
Trustee in respect of such defective Mortgage Loan.
Class A Non-PO Principal Amount: As to any Distribution Date, the
aggregate amount distributed in respect of the Classes of Class A Certificates
pursuant to Paragraph third clause (A) of Section 4.01(a).
Class A Non-PO Principal Balance: As of any date, an amount equal to
the Class A Principal Balance less the Principal Balance of the Class A-PO
Certificates.
Class A Non-PO Principal Distribution Amount: As to any Distribution
Date, the sum of (i) the sum of the Accrual Distribution Amounts, if any, with
respect to such Distribution Date and (ii) the Class A Non-PO Principal Amount
with respect to such Distribution Date.
Class A Pass-Through Rate: As to the Class A-1, Class A-2, Class
A-4, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11 and Class A-R
Certificates, the Class A Fixed Pass-Through Rate. As to the Class A-5
Certificates, 6.250% per annum. As to the Class A-6 Certificates, 7.750% per
annum. As to the Class A-3 and Class A-12 Certificates, 8.000% per annum. The
Class A-PO Certificates are not entitled to interest and have no Class A
Pass-Through Rate.
Class A Percentage: As to any Distribution Date occurring on or
prior to the Cross-Over Date, the lesser of (i) 100% and (ii) the percentage
obtained by dividing the Class A Non-PO Principal Balance (determined as of the
Determination Date preceding such Distribution Date) by the Pool Balance (Non-PO
Portion). As to any Distribution Date occurring subsequent to the Cross-Over
Date, 100% or such lesser percentage which will cause the Class A Non-PO
Principal Balance to decline to zero following the distribution made on such
Distribution Date.
Class A Prepayment Percentage: As to any Distribution Date to and
including the Distribution Date in March 2005, 100%. As to any Distribution Date
subsequent to March 2005 to and including the Distribution Date in March 2006,
the Class A Percentage as of such Distribution Date plus 70% of the Subordinated
Percentage as of such Distribution Date. As to any Distribution Date subsequent
to March 2006 to and including the Distribution Date in March 2007, the Class A
Percentage as of such Distribution Date plus 60% of the Subordinated Percentage
as of such Distribution Date. As to any Distribution Date subsequent to March
2007 to and including the Distribution Date in March 2008, the Class A
Percentage as of such Distribution Date plus 40% of the Subordinated Percentage
as of such Distribution Date. As to any Distribution Date subsequent to March
2008 to and including the Distribution Date in March 2009, the Class A
Percentage as of such Distribution Date plus 20% of the Subordinated Percentage
as of such Distribution Date. As to any Distribution Date subsequent to March
2009, the Class A Percentage as of such Distribution Date. The foregoing is
subject to the following: (i) if the aggregate distribution to Holders of Class
A Certificates on any Distribution Date of the Class A Prepayment Percentage
provided above of (a) Unscheduled Principal Receipts distributable on such
Distribution Date would reduce the Class A Non-PO Principal Balance below zero,
the Class A Prepayment Percentage for such Distribution Date shall be the
percentage necessary to bring the Class A Non-PO Principal Balance to zero and
thereafter the Class A Prepayment Percentage shall be zero and (ii) if the Class
A Percentage as of any Distribution Date is greater than the Original Class A
Percentage, the Class A Prepayment Percentage for such Distribution Date shall
be 100%. Notwithstanding the foregoing, with respect to any Distribution Date on
which the following criteria are not met, the reduction of the Class A
Prepayment Percentage described in the second through sixth sentences of this
definition of Class A Prepayment Percentage shall not be applicable with respect
to such Distribution Date. In such event, the Class A Prepayment Percentage for
such Distribution Date will be determined in accordance with the applicable
provision, as set forth in the first through fifth sentences above, which was
actually used to determine the Class A Prepayment Percentage for the
Distribution Date occurring in the March preceding such Distribution Date (it
being understood that for the purposes of the determination of the Class A
Prepayment Percentage for the current Distribution Date, the current Class A
Percentage and Subordinated Percentage shall be utilized). In order for the
reduction referred to in the second through sixth sentences to be applicable,
with respect to any Distribution Date (a) the average outstanding principal
balance on such Distribution Date and for the preceding five Distribution Dates
on the Mortgage Loans that were delinquent 60 days or more (including for this
purpose any payments due with respect to Mortgage Loans in foreclosure and REO
Mortgage Loans) must be less than 50% of the current Class B Principal Balance
and (b) cumulative Realized Losses shall not exceed (1) 30% of the Original
Class B Principal Balance if such Distribution Date occurs between and including
April 2005 and March 2006, (2) 35% of the Original Class B Principal Balance if
such Distribution Date occurs between and including April 2006 and March 2007,
(3) 40% of the Original Class B Principal Balance if such Distribution Date
occurs between and including April 2007 and March 2008, (4) 45% of the Original
Class B Principal Balance if such Distribution Date occurs between and including
April 2008 and March 2009, and (5) 50% of the Original Class B Principal Balance
if such Distribution Date occurs during or after April 2009. With respect to any
Distribution Date on which the Class A Prepayment Percentage is reduced below
the Class A Prepayment Percentage for the prior Distribution Date, the Master
Servicer shall certify to the Trustee, based upon information provided by each
Servicer as to the Mortgage Loans serviced by it that the criteria set forth in
the preceding sentence are met.
Class A Principal Balance: As of any date, an amount equal to the
sum of the Principal Balances for the Class A-1 Certificates, Class A-2
Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates, Class A-12 Certificates, Class A-PO Certificates and Class A-R
Certificate.
Class A Unpaid Interest Shortfall: As to any Distribution Date and
any Class of Class A Certificates, the amount, if any, by which the aggregate of
the Class A Interest Shortfall Amounts for such Class for prior Distribution
Dates is in excess of the amounts distributed in respect of such Class (or in
the case of a Class of Accrual Certificates prior to the applicable Accretion
Termination Date, the amount included in the Accrual Distribution Amount
pursuant to clause (ii) of the definition thereof) on prior Distribution Dates
pursuant to Paragraph second of Section 4.01(a).
Class A-1 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-1 and Exhibit C hereto.
Class A-1 Certificateholder: The registered holder of a Class A-1
Certificate.
Class A-2 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-2 and Exhibit C hereto.
Class A-2 Certificateholder: The registered holder of a Class A-2
Certificate.
Class A-3 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-3 and Exhibit C hereto.
Class A-3 Certificateholder: The registered holder of a Class A-3
Certificate.
Class A-4 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-4 and Exhibit C hereto.
Class A-4 Certificateholder: The registered holder of a Class A-4
Certificate.
Class A-5 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-5 and Exhibit C hereto.
Class A-5 Certificateholder: The registered holder of a Class A-5
Certificate.
Class A-6 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-6 and Exhibit C hereto.
Class A-6 Certificateholder: The registered holder of a Class A-6
Certificate.
Class A-7 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-7 and Exhibit C hereto.
Class A-7 Certificateholder: The registered holder of a Class A-7
Certificate.
Class A-8 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-8 and Exhibit C hereto.
Class A-8 Certificateholder: The registered holder of a Class A-8
Certificate.
Class A-9 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-9 and Exhibit C hereto.
Class A-9 Certificateholder: The registered holder of a Class A-9
Certificate.
Class A-10 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-10 and Exhibit C hereto.
Class A-10 Certificateholder: The registered holder of a Class A-10
Certificate.
Class A-11 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-11 and Exhibit C hereto.
Class A-11 Certificateholder: The registered holder of a Class A-11
Certificate.
Class A-12 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-12 and Exhibit C hereto.
Class A-12 Certificateholder: The registered holder of a Class A-12
Certificate.
Class A-PO Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit A-PO and Exhibit C hereto.
Class A-PO Certificateholder: The registered holder of a Class A-PO
Certificate.
Class A-PO Deferred Amount: For any Distribution Date prior to the
Cross-Over Date, the difference between (A) the sum of (x) the amount by which
the sum of the Class A-PO Optimal Principal Amounts for all prior Distribution
Dates exceeded the amounts distributed on the Class A-PO Certificates on such
prior Distribution Dates pursuant to Paragraph third clause (B) of Section
4.01(a) and (y) the sum of the product for each Discount Mortgage Loan which
became a Liquidated Loan at any time on or prior to the last day of the
applicable Unscheduled Principal Receipt Period for the current Distribution
Date of (a) the PO Fraction for such Discount Mortgage Loan and (b) an amount
equal to the principal portion of Realized Losses (other than Bankruptcy Losses
due to Debt Service Reductions) incurred with respect to such Mortgage Loan
other than Excess Special Hazard Losses, Excess Fraud Losses and Excess
Bankruptcy Losses and (B) amounts distributed on the Class A-PO Certificates on
prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and
after the Cross-Over Date, the Class A-PO Deferred Amount will be zero. No
interest will accrue on any Class A-PO Deferred Amount.
Class A-PO Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum as to each Outstanding Mortgage Loan, of the product of
(x) the PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) (A) the principal portion of the Monthly Payment due on the Due Date
occurring in the month of such Distribution Date on such Mortgage Loan,
less (B) if the Bankruptcy Loss Amount has been reduced to zero, the
principal portion of any Debt Service Reduction with respect to such
Mortgage Loan;
(ii) all Unscheduled Principal Receipts that were received by a Servicer
with respect to such Mortgage Loan during the Applicable Unscheduled
Principal Receipt Period relating to such Distribution Date for each
applicable type of Unscheduled Principal Receipt;
(iii) the Scheduled Principal Balance of each Mortgage Loan that was
repurchased by the Seller during such preceding month pursuant to Section
2.02 or 2.03;
(iv) the excess of the unpaid principal balance of such Mortgage Loan
substituted for a defective Mortgage Loan during the month preceding the
month in which such Distribution Date occurs over the unpaid principal
balance of such defective Mortgage Loan, less the amount allocable to the
principal portion of any unreimbursed Periodic Advances previously made by
the applicable Servicer, the Master Servicer or the Trustee in respect of
such defective Mortgage Loan.
Class A-R Certificate: The Certificate executed by the Trustee and
authenticated by the Trustee or the Authenticating Agent in substantially the
form set forth in Exhibit A-R and Exhibit C hereto.
Class A-R Certificateholder: The registered holder of the Class A-R
Certificate.
Class B Certificate: Any one of the Class B-1 Certificates, Class
B-2 Certificates, Class B-3 Certificates, Class B-4 Certificates, Class B-5
Certificates or Class B-6 Certificates.
Class B Certificateholder: The registered holder of a Class B
Certificate.
Class B Distribution Amount: Any of the Class B-1, Class B-2, Class
B-3, Class B-4, Class B-5 or Class B-6 Distribution Amounts.
Class B Interest Accrual Amount: As to any Distribution Date, the
sum of the Interest Accrual Amounts for the Classes of Class B Certificates with
respect to such Distribution Date.
Class B Interest Percentage: As to any Distribution Date and any
Class of Class B Certificates, the percentage calculated by dividing the
Interest Accrual Amount of such Class (determined without regard to clause (ii)
of the definition thereof) by the Class B Interest Accrual Amount (determined
without regard to clause (ii) of the definition of each Interest Accrual
Amount).
Class B Interest Shortfall Amount: Any of the Class B-1 Interest
Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest
Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest
Shortfall Amount or Class B-6 Interest Shortfall Amount.
Class B Loss Percentage: As to any Determination Date and any Class
of Class B Certificates then outstanding, the percentage calculated by dividing
the Principal Balance of such Class of Class B Certificates by the Class B
Principal Balance (determined without regard to any Principal Balance of any
Class of Class B Certificates not then outstanding), in each case determined as
of the preceding Determination Date.
Class B Pass-Through Rate: As to any Distribution Date, 7.500% per
annum.
Class B Percentage: Any one of the Class B-1 Percentage, Class B-2
Percentage, Class B-3 Percentage, Class B-4 Percentage, Class B-5 Percentage or
Class B-6 Percentage.
Class B Prepayment Percentage: Any of the Class B-1 Prepayment
Percentage, Class B-2 Prepayment Percentage, Class B-3 Prepayment Percentage,
Class B-4 Prepayment Percentage, Class B-5 Prepayment Percentage or Class B-6
Prepayment Percentage.
Class B Principal Balance: As of any date, an amount equal to the
sum of the Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3
Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance and
Class B-6 Principal Balance.
Class B Unpaid Interest Shortfall: Any of the Class B-1 Unpaid
Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid
Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid
Interest Shortfall or Class B-6 Unpaid Interest Shortfall.
Class B-1 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-1 and Exhibit C hereto.
Class B-1 Certificateholder: The registered holder of a Class B-1
Certificate.
Class B-1 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-1 Certificates pursuant to
Paragraphs fifth, sixth and seventh of Section 4.01(a).
Class B-1 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-1 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph
fifth of Section 4.01(a).
Class B-1 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-1 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-1 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-1 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-1 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-1 Optimal Principal Amount
will equal the lesser of (A) the Class B-1 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-1 Certificates.
Class B-1 Percentage: As to any Distribution Date, the percentage
calculated by multiplying the Subordinated Percentage by either (i) if any Class
B Certificates (other than the Class B-1 Certificates) are eligible to receive
principal distributions for such Distribution Date in accordance with Section
4.01(d), a fraction, the numerator of which is the Class B-1 Principal Balance
(determined as of the Determination Date preceding such Distribution Date) and
the denominator of which is the sum of the Principal Balances of the Classes of
Class B Certificates eligible to receive principal distributions for such
Distribution Date in accordance with the provisions of Section 4.01(d) or (ii)
except as set forth in Section 4.01(d)(ii), in the event that the Class B
Certificates (other than the Class B-1 Certificates) are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), one.
Class B-1 Prepayment Percentage: As to any Distribution Date, the
percentage calculated by multiplying the Subordinated Prepayment Percentage by
either (i) if any Class B Certificates (other than the Class B-1 Certificates)
are eligible to receive principal distributions for such Distribution Date in
accordance with Section 4.01(d), a fraction, the numerator of which is the Class
B-1 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d) or (ii) except as set forth in Section 4.01(d)(ii), in the event
that the Class B Certificates (other than the Class B-1 Certificates) are not
eligible to receive distributions of principal in accordance with Section
4.01(d)(i), one.
Class B-1 Principal Balance: As to the first Determination Date, the
Original Class B-1 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-1 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-1 Certificates on
prior Distribution Dates (A) pursuant to Paragraph seventh of Section 4.01(a)
and (B) as a result of a Principal Adjustment and (b) the Realized Losses
allocated through such Determination Date to the Class B-1 Certificates pursuant
to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding
Distribution Date less the Class A Principal Balance as of such Determination
Date.
Class B-1 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-1 Certificates on prior Distribution Dates pursuant to
Paragraph sixth of Section 4.01(a).
Class B-2 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-2 and Exhibit C hereto.
Class B-2 Certificateholder: The registered holder of a Class B-2
Certificate.
Class B-2 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-2 Certificates pursuant to
Paragraphs eighth, ninth and tenth of Section 4.01(a).
Class B-2 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-2 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph
eighth of Section 4.01(a).
Class B-2 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-2 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-2 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-2 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-2 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-2 Optimal Principal Amount
will equal the lesser of (A) the Class B-2 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-2 Certificates.
Class B-2 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-2 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-2 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-2 Percentage for
such Distribution Date will be zero.
Class B-2 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-2 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-2 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-2
Prepayment Percentage for such Distribution Date will be zero.
Class B-2 Principal Balance: As to the first Determination Date, the
Original Class B-2 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-2 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-2 Certificates on
prior Distribution Dates (A) pursuant to Paragraph tenth of Section 4.01(a) and
(B) as a result of a Principal Adjustment and (b) the Realized Losses allocated
through such Determination Date to the Class B-2 Certificates pursuant to
Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding
Distribution Date less the sum of the Class A Principal Balance and the Class
B-1 Principal Balance as of such Determination Date.
Class B-2 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-2 Certificates on prior Distribution Dates pursuant to
Paragraph ninth of Section 4.01(a).
Class B-3 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-3 and Exhibit C hereto.
Class B-3 Certificateholder: The registered holder of a Class B-3
Certificate.
Class B-3 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-3 Certificates pursuant to
Paragraphs eleventh, twelfth and thirteenth of Section 4.01(a).
Class B-3 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-3 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph
eleventh of Section 4.01(a).
Class B-3 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-3 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-3 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-3 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-3 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-3 Optimal Principal Amount
will equal the lesser of (A) the Class B-3 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-3 Certificates.
Class B-3 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-3 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-3 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-3 Percentage for
such Distribution Date will be zero.
Class B-3 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-3 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-3 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-3
Prepayment Percentage for such Distribution Date will be zero.
Class B-3 Principal Balance: As to the first Determination Date, the
Original Class B-3 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-3 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-3 Certificates on
prior Distribution Dates (A) pursuant to Paragraph thirteenth of Section 4.01(a)
and (B) as a result of a Principal Adjustment and (b) the Realized Losses
allocated through such Determination Date to the Class B-3 Certificates pursuant
to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding
Distribution Date less the sum of the Class A Principal Balance, the Class B-1
Principal Balance and the Class B-2 Principal Balance as of such Determination
Date.
Class B-3 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-3 Certificates on prior Distribution Dates pursuant to
Paragraph twelfth of Section 4.01(a).
Class B-4 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-4 and Exhibit C hereto.
Class B-4 Certificateholder: The registered holder of a Class B-4
Certificate.
Class B-4 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-4 Certificates pursuant to
Paragraphs fourteenth, fifteenth, and sixteenth of Section 4.01(a).
Class B-4 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-4 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph
fourteenth of Section 4.01(a).
Class B-4 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-4 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-4 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-4 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-4 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-4 Optimal Principal Amount
will equal the lesser of (A) the Class B-4 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-4 Certificates.
Class B-4 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-4 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-4 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for
such Distribution Date will be zero.
Class B-4 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-4 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-4 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-4
Prepayment Percentage for such Distribution Date will be zero.
Class B-4 Principal Balance: As to the first Determination Date, the
Original Class B-4 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-4 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-4 Certificates on
prior Distribution Dates (A) pursuant to Paragraph sixteenth of Section 4.01(a)
and (B) as a result of a Principal Adjustment and (b) the Realized Losses
allocated through such Determination Date to the Class B-4 Certificates pursuant
to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding
Distribution Date less the sum of the Class A Principal Balance, the Class B-1
Principal Balance, the Class B-2 Principal Balance and the Class B-3 Principal
Balance as of such Determination Date.
Class B-4 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-4 Certificates on prior Distribution Dates pursuant to
Paragraph fifteenth of Section 4.01(a).
Class B-5 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-5 and Exhibit C hereto.
Class B-5 Certificateholder: The registered holder of a Class B-5
Certificate.
Class B-5 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-5 Certificates pursuant to
Paragraphs seventeenth, eighteenth, and nineteenth of Section 4.01(a).
Class B-5 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-5 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph
seventeenth of Section 4.01(a).
Class B-5 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-5 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-5 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-5 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-5 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-5 Optimal Principal Amount
will equal the lesser of (A) the Class B-5 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-5 Certificates.
Class B-5 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-5 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-5 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-5 Percentage for
such Distribution Date will be zero.
Class B-5 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-5 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-5 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-5
Prepayment Percentage for such Distribution Date will be zero.
Class B-5 Principal Balance: As to the first Determination Date, the
Original Class B-5 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-5 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-5 Certificates on
prior Distribution Dates (A) pursuant to Paragraph nineteenth of Section 4.01(a)
and (B) as a result of a Principal Adjustment and (b) the Realized Losses
allocated through such Determination Date to the Class B-5 Certificates pursuant
to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding
Distribution Date less the sum of the Class A Principal Balance, the Class B-1
Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal
Balance and the Class B-4 Principal Balance as of such Determination Date.
Class B-5 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-5 Certificates on prior Distribution Dates pursuant to
Paragraph eighteenth of Section 4.01(a).
Class B-6 Certificate: Any one of the Certificates executed by the
Trustee and authenticated by the Trustee or the Authenticating Agent in
substantially the form set forth in Exhibit B-6 and Exhibit C hereto.
Class B-6 Certificateholder: The registered holder of a Class B-6
Certificate.
Class B-6 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-6 Certificates pursuant to
Paragraphs twentieth, twenty-first and twenty-second of Section 4.01(a).
Class B-6 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-6 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph
twentieth of Section 4.01(a).
Class B-6 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of
(x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:
(i) the Class B-6 Percentage of (A) the principal portion of the Monthly
Payment due on the Due Date occurring in the month of such Distribution
Date on such Mortgage Loan, less (B) if the Bankruptcy Loss Amount has
been reduced to zero, the principal portion of any Debt Service Reduction
with respect to such Mortgage Loan;
(ii) the Class B-6 Prepayment Percentage of all Unscheduled Principal
Receipts that were received by a Servicer with respect to such Mortgage
Loan during the Applicable Unscheduled Principal Receipt Period relating
to such Distribution Date for each applicable type of Unscheduled
Principal Receipt;
(iii) the Class B-6 Prepayment Percentage of the Scheduled Principal
Balance of such Mortgage Loan which, during the month preceding the month
of such Distribution Date, was repurchased by the Seller pursuant to
Section 2.02 or 2.03; and
(iv) the Class B-6 Percentage of the excess of the unpaid principal
balance of such Mortgage Loan substituted for a defective Mortgage Loan
during the month preceding the month in which such Distribution Date
occurs over the unpaid principal balance of such defective Mortgage Loan,
less the amount allocable to the principal portion of any unreimbursed
Periodic Advances previously made by the applicable Servicer, the Master
Servicer or the Trustee in respect of such defective Mortgage Loan;
provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-6 Optimal Principal Amount
will equal the lesser of (A) the Class B-6 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-6 Certificates.
Class B-6 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-6 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-6 Certificates are not eligible to receive distributions of
principal in accordance with the provisions of Section 4.01(d)(i), the Class B-6
Percentage for such Distribution Date will be zero.
Class B-6 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-6 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-6 Certificates are not eligible to receive
distributions of principal in accordance with the provisions of Section
4.01(d)(i), the Class B-6 Prepayment Percentage for such Distribution Date will
be zero.
Class B-6 Principal Balance: As to the first Determination Date, the
Original Class B-6 Principal Balance. As of any subsequent Determination Date,
the lesser of (i) the Original Class B-6 Principal Balance less the sum of (a)
all amounts previously distributed in respect of the Class B-6 Certificates on
prior Distribution Dates pursuant to Paragraph twenty-second of Section 4.01(a)
and (b) the Realized Losses allocated through such Determination Date to the
Class B-6 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool
Amount as of the preceding Distribution Date less the Class A Principal Balance,
the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3
Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal
Balance as of such Determination Date.
Class B-6 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-6 Certificates on prior Distribution Dates pursuant to
Paragraph twenty-first of Section 4.01(a).
Clearing Agency: An organization registered as a "clearing agency"
pursuant to Section 17A of the Securities Exchange Act of 1934, as amended. The
initial Clearing Agency shall be The Depository Trust Company.
Clearing Agency Participant: A broker, dealer, bank, financial
institution or other Person for whom a Clearing Agency effects book-entry
transfers of securities deposited with the Clearing Agency.
Closing Date: The date of initial issuance of the Certificates, as
set forth in Section 11.21.
Code: The Internal Revenue Code of 1986, as it may be amended from
time to time, any successor statutes thereto, and applicable U.S. Department of
the Treasury temporary or final regulations promulgated thereunder.
Compensating Interest: As to any Distribution Date, the lesser of
(a) the product of (i) 1/12th of 0.20% and (ii) the Pool Scheduled Principal
Balance for such Distribution Date and (b) the Available Master Servicing
Compensation for such Distribution Date.
Co-op Shares: Shares issued by private non-profit housing
corporations.
Corporate Trust Office: The principal office of the Trustee at which
at any particular time its corporate trust business shall be administered, which
office, at the date of the execution of this instrument is located at 401 South
Tryon Street, Charlotte, North Carolina 28202.
Cross-Over Date: The Distribution Date preceding the first
Distribution Date on which the Class A Percentage (determined pursuant to clause
(ii) of the definition thereof) equals or exceeds 100%.
Cross-Over Date Interest Shortfall: With respect to any Distribution
Date that occurs on or after the Cross-Over Date with respect to any Unscheduled
Principal Receipt (other than a Prepayment in Full):
(A) in the case where the Applicable Unscheduled Principal Receipt
Period is the Mid-Month Receipt Period and such Unscheduled
Principal Receipt is received by the Servicer on or after the
Determination Date in the month preceding the month of such
Distribution Date but prior to the first day of the month of
such Distribution Date, the amount of interest that would have
accrued at the Net Mortgage Interest Rate on the amount of
such Unscheduled Principal Receipt from the day of its receipt
or, if earlier, its application by the Servicer through the
last day of the month preceding the month of such Distribution
Date; and
(B) in the case where the Applicable Unscheduled Principal Receipt
Period is the Prior Month Receipt Period and such Unscheduled
Principal Receipt is received by the Servicer during the month
preceding the month of such Distribution Date, the amount of
interest that would have accrued at the Net Mortgage Interest
Rate on the amount of such Unscheduled Principal Receipt from
the day of its receipt or, if earlier, its application by the
Servicer through the last day of the month in which such
Unscheduled Principal Receipt is received.
Current Class A Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Classes of Class A Certificates
pursuant to Paragraph first of Section 4.01(a) on such Distribution Date.
Current Class B Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Classes of Class B Certificates
pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and
twentieth of Section 4.01(a) on such Distribution Date.
Current Class B-1 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-2, Class B-3, Class B-4, Class
B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal
Balance and the Class B Principal Balance. As to the first Distribution Date,
the Original Class B-1 Fractional Interest.
Current Class B-2 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-3, Class B-4, Class B-5 and
Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and
the Class B Principal Balance. As to the first Distribution Date, the Original
Class B-2 Fractional Interest.
Current Class B-3 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-4, Class B-5 and Class B-6
Certificates by the sum of the Class A Non-PO Principal Balance and the Class B
Principal Balance. As to the first Distribution Date, the Original Class B-3
Fractional Interest.
Current Class B-4 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-5 and Class B-6 Certificates by
the sum of the Class A Non-PO Principal Balance and the Class B Principal
Balance. As to the first Distribution Date, the Original Class B-4 Fractional
Interest.
Current Class B-5 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the Principal Balance of the Class B-6 Certificates by the sum of the Class A
Non-PO Principal Balance and the Class B Principal Balance. As to the first
Distribution Date, the Original Class B-5 Fractional Interest.
Curtailment: Any Principal Prepayment made by a Mortgagor which is
not a Prepayment in Full.
Custodial Agreement: The Custodial Agreement, if any, from time to
time in effect between the Custodian named therein, the Seller, the Master
Servicer and the Trustee, substantially in the form of Exhibit E hereto, as the
same may be amended or modified from time to time in accordance with the terms
thereof.
Custodial P&I Account: The Custodial P&I Account, as defined in each
of the Servicing Agreements, with respect to the Mortgage Loans. In determining
whether the Custodial P&I Account under any Servicing Agreement is "acceptable"
to the Master Servicer (as may be required by the definition of "Eligible
Account" contained in the Servicing Agreements), the Master Servicer shall
require that any such account shall be acceptable to each of the Rating
Agencies.
Custodian: Initially, the Trustee, and thereafter the Custodian, if
any, hereafter appointed by the Trustee pursuant to Section 8.13, or its
successor in interest under the Custodial Agreement. The Custodian may (but need
not) be the Trustee or any Person directly or indirectly controlling or
controlled by or under common control of either of them. Neither a Servicer, nor
the Seller nor the Master Servicer nor any Person directly or indirectly
controlling or controlled by or under common control with any such Person may be
appointed Custodian.
Cut-Off Date: The first day of the month of initial issuance of the
Certificates as set forth in Section 11.02.
Cut-Off Date Aggregate Principal Balance: The aggregate of the
Cut-Off Date Principal Balances of the Mortgage Loans is as set forth in Section
11.03.
Cut-Off Date Principal Balance: As to each Mortgage Loan, its unpaid
principal balance as of the close of business on the Cut-Off Date (but without
giving effect to any Unscheduled Principal Receipts received or applied on the
Cut-Off Date), reduced by all payments of principal due on or before the Cut-Off
Date and not paid, and increased by scheduled monthly payments of principal due
after the Cut-Off Date but received by the related Servicer on or before the
Cut-Off Date.
DCR: Duff and Phelps Credit Rating Co., or its successor in
interest.
Debt Service Reduction: With respect to any Mortgage Loan, a
reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of
competent jurisdiction in a proceeding under the Bankruptcy Code, except such a
reduction constituting a Deficient Valuation.
Deficient Valuation: With respect to any Mortgage Loan, a valuation
by a court of competent jurisdiction of the Mortgaged Property in an amount less
than the then-outstanding indebtedness under the Mortgage Loan, or any reduction
in the amount of principal to be paid in connection with any scheduled Monthly
Payment that results in a permanent forgiveness of principal, which valuation or
reduction results from a proceeding under the Bankruptcy Code.
Definitive Certificates: As defined in Section 5.01(b).
Denomination: The amount, if any, specified on the face of each
Certificate representing the principal portion of the Cut-Off Date Aggregate
Principal Balance evidenced by such Certificate.
Determination Date: The 17th day of the month in which the related
Distribution Date occurs, or if such 17th day is not a Business Day, the
Business Day preceding such 17th day.
Discount Mortgage Loan: A Mortgage Loan with a Net Mortgage Interest
Rate of less than 7.500%.
Distribution Date: The 25th day of any month, beginning in the month
following the month of initial issuance of the Certificates, or if such 25th day
is not a Business Day, the Business Day following such 25th day.
Due Date: With respect to any Mortgage Loan, the day of the month in
which the Monthly Payment on such Mortgage Loan is scheduled to be paid.
Eligible Account: One or more accounts (i) that are maintained with
a depository institution (which may be the Master Servicer) whose long-term debt
obligations (or, in the case of a depository institution which is part of a
holding company structure, the long-term debt obligations of such parent holding
company) at the time of deposit therein are rated at least "AA" (or the
equivalent) by each of the Rating Agencies, (ii) the deposits in which are fully
insured by the FDIC through either the Bank Insurance Fund or the Savings
Association Insurance Fund, (iii) the deposits in which are insured by the FDIC
through either the Bank Insurance Fund or the Savings Association Insurance Fund
(to the limit established by the FDIC) and the uninsured deposits in which
accounts are otherwise secured, as evidenced by an Opinion of Counsel delivered
to the Trustee, such that the Trustee, on behalf of the Certificateholders has a
claim with respect to the funds in such accounts or a perfected first security
interest against any collateral securing such funds that is superior to claims
of any other depositors or creditors of the depository institution with which
such accounts are maintained, (iv) that are trust accounts maintained with the
trust department of a federal or state chartered depository institution or trust
company acting in its fiduciary capacity or (v) such other account that is
acceptable to each of the Rating Agencies and would not cause the Trust Estate
to fail to qualify as a REMIC or result in the imposition of any federal tax on
the REMIC.
Eligible Investments: At any time, any one or more of the following
obligations and securities which shall mature not later than the Business Day
preceding the Distribution Date next succeeding the date of such investment,
provided that such investments continue to qualify as "cash flow investments" as
defined in Code Section 860G(a)(6):
(i) obligations of the United States of America or any agency thereof,
provided such obligations are backed by the full faith and credit of the
United States of America;
(ii) general obligations of or obligations guaranteed by any state of the
United States of America or the District of Columbia receiving the highest
short-term or highest long-term rating of each Rating Agency, or such
lower rating as would not result in the downgrading or withdrawal of the
rating then assigned to any of the Certificates by either Rating Agency or
result in any of such rated Certificates being placed on credit review
status (other than for possible upgrading) by either Rating Agency;
(iii) commercial or finance company paper which is then rated in the
highest long-term commercial or finance company paper rating category of
each Rating Agency or the highest short-term rating category of each
Rating Agency, or such lower rating category as would not result in the
downgrading or withdrawal of the rating then assigned to any of the
Certificates by either Rating Agency or result in any of such rated
Certificates being placed on credit review status (other than for possible
upgrading) by either Rating Agency;
(iv) certificates of deposit, demand or time deposits, federal funds or
banker's acceptances issued by any depository institution or trust company
incorporated under the laws of the United States or of any state thereof
and subject to supervision and examination by federal and/or state banking
authorities, provided that the commercial paper and/or debt obligations of
such depository institution or trust company (or in the case of the
principal depository institution in a holding company system, the
commercial paper or debt obligations of such holding company) are then
rated in the highest short-term or the highest long-term rating category
for such securities of each of the Rating Agencies, or such lower rating
categories as would not result in the downgrading or withdrawal of the
rating then assigned to any of the Certificates by either Rating Agency or
result in any of such rated Certificates being placed on credit review
status (other than for possible upgrading) by either Rating Agency;
(v) guaranteed reinvestment agreements issued by any bank, insurance
company or other corporation acceptable to each Rating Agency at the time
of the issuance of such agreements;
(vi) repurchase agreements on obligations with respect to any security
described in clauses (i) or (ii) above or any other security issued or
guaranteed by an agency or instrumentality of the United States of
America, in either case entered into with a depository institution or
trust company (acting as principal) described in (iv) above;
(vii) securities (other than stripped bonds or stripped coupon securities)
bearing interest or sold at a discount issued by any corporation
incorporated under the laws of the United States of America or any state
thereof which, at the time of such investment or contractual commitment
providing for such investment, are then rated in the highest short-term or
the highest long-term rating category by each Rating Agency, or in such
lower rating category as would not result in the downgrading or withdrawal
of the rating then assigned to any of the Certificates by either Rating
Agency or result in any of such rated Certificates being placed on credit
review status (other than for possible upgrading) by either Rating Agency;
and
(viii) such other investments acceptable to each Rating Agency as would
not result in the downgrading of the rating then assigned to the
Certificates by either Rating Agency or result in any of such rated
Certificates being placed on credit review status (other than for possible
upgrading) by either Rating Agency.
In no event shall an instrument be an Eligible Investment if such
instrument evidences either (i) a right to receive only interest payments with
respect to the obligations underlying such instrument, or (ii) both principal
and interest payments derived from obligations underlying such instrument and
the interest and principal payments with respect to such instrument provide a
yield to maturity at the date of investment of greater than 120% of the yield to
maturity at par of such underlying obligations.
ERISA: The Employee Retirement Income Security Act of 1974, as
amended.
ERISA Prohibited Holder: As defined in Section 5.02(d).
Errors and Omissions Policy: As defined in each of the Servicing
Agreements.
Event of Default: Any of the events specified in Section 7.01.
Excess Bankruptcy Loss: With respect to any Distribution Date and
any Mortgage Loan as to which a Bankruptcy Loss is realized in the month
preceding the month of such Distribution Date, (i) if the Aggregate Current
Bankruptcy Losses with respect to such Distribution Date exceed the
then-applicable Bankruptcy Loss Amount, then the portion of such Bankruptcy Loss
represented by the ratio of (a) the excess of the Aggregate Current Bankruptcy
Losses over the then-applicable Bankruptcy Loss Amount, divided by (b) the
Aggregate Current Bankruptcy Losses or (ii) if the Aggregate Current Bankruptcy
Losses with respect to such Distribution Date are less than or equal to the
then-applicable Bankruptcy Loss Amount, then zero. In addition, any Bankruptcy
Loss occurring with respect to a Mortgage Loan on or after the Cross-Over Date
will be an Excess Bankruptcy Loss.
Excess Fraud Loss: With respect to any Distribution Date and any
Mortgage Loan as to which a Fraud Loss is realized in the month preceding the
month of such Distribution Date, (i) if the Aggregate Current Fraud Losses with
respect to such Distribution Date exceed the then-applicable Fraud Loss Amount,
then the portion of such Fraud Loss represented by the ratio of (a) the excess
of the Aggregate Current Fraud Losses over the then-applicable Fraud Loss
Amount, divided by (b) the Aggregate Current Fraud Losses, or (ii) if the
Aggregate Current Fraud Losses with respect to such Distribution Date are less
than or equal to the then-applicable Fraud Loss Amount, then zero. In addition,
any Fraud Loss occurring with respect to a Mortgage Loan on or after the
Cross-Over Date will be an Excess Fraud Loss.
Excess Special Hazard Loss: With respect to any Distribution Date
and any Mortgage Loan as to which a Special Hazard Loss is realized in the month
preceding the month of such Distribution Date, (i) if the Aggregate Current
Special Hazard Losses with respect to such Distribution Date exceed the
then-applicable Special Hazard Loss Amount, then the portion of such Special
Hazard Loss represented by the ratio of (a) the excess of the Aggregate Current
Special Hazard Losses over the then-applicable Special Hazard Loss Amount,
divided by (b) the Aggregate Current Special Hazard Losses, or (ii) if the
Aggregate Current Special Hazard Losses with respect to such Distribution Date
are less than or equal to the then-applicable Special Hazard Loss Amount, then
zero. In addition, any Special Hazard Loss occurring with respect to a Mortgage
Loan on or after the Cross-Over Date will be an Excess Special Hazard Loss.
Exhibit F-1 Mortgage Loan: Any of the Mortgage Loans identified in
Exhibit F-1 hereto, as such Exhibit may be amended from time to time in
connection with a substitution pursuant to Section 2.02, which Mortgage Loan is
serviced in locations other than Frederick, Maryland under the Norwest Servicing
Agreement.
Exhibit F-2 Mortgage Loan: Any of the Mortgage Loans identified in
Exhibit F-2 hereto, as such Exhibit may be amended from time to time in
connection with a substitution pursuant to Section 2.02, which Mortgage Loan is
serviced in Frederick, Maryland under the Norwest Servicing Agreement.
Exhibit F-3 Mortgage Loan: Any of the Mortgage Loans identified in
Exhibit F-3 hereto, as such Exhibit may be amended from time to time in
connection with a substitution pursuant to Section 2.02, which Mortgage Loan is
serviced under an Other Servicing Agreement.
FDIC: The Federal Deposit Insurance Corporation or any successor
thereto.
Fidelity Bond: As defined in each of the Servicing Agreements.
Final Distribution Date: The Distribution Date on which the final
distribution in respect of the Certificates is made pursuant to Section 9.01.
Final Scheduled Maturity Date: The Final Scheduled Maturity Date for
the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7,
Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-PO, Class A-R,
Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates
is April 25, 2030 which corresponds to the "latest possible maturity date" for
purposes of Section 860G(a)(1) of the Internal Revenue Code of 1986, as amended.
Fixed Retained Yield: The fixed percentage of interest on each
Mortgage Loan with a Mortgage Interest Rate greater than the sum of (a) 7.500%,
(b) the applicable Servicing Fee Rate and (c) the Master Servicing Fee Rate,
which will be determined on a loan by loan basis and will equal the Mortgage
Interest Rate on each Mortgage Loan minus the sum of (a), (b) and (c), which is
not assigned to and not part of the Trust Estate.
Fixed Retained Yield Rate: With respect to each Mortgage Loan, a per
annum rate equal to the greater of (a) zero and (b) the Mortgage Interest Rate
on such Mortgage Loan minus the sum of (i) 7.500%, (ii) the applicable Servicing
Fee Rate and (iii) the Master Servicing Fee Rate.
Fraud Loss: A Liquidated Loan Loss as to which there was fraud in
the origination of such Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after the Cut-Off
Date an amount equal to: (X) prior to the first anniversary of the Cut-Off Date
an amount equal to $7,601,598.25 minus the aggregate amount of Fraud Losses
allocated solely to the Class B Certificates in accordance with Section 4.02(a)
since the Cut-Off Date, and (Y) from the first through fifth anniversary of the
Cut-Off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as
of the most recent anniversary of the Cut-Off Date and (b) 1.00% of the
aggregate outstanding principal balance of all of the Mortgage Loans as of the
most recent anniversary of the Cut-Off Date minus (2) the Fraud Losses allocated
solely to the Class B Certificates in accordance with Section 4.02(a) since the
most recent anniversary of the Cut-Off Date. On and after the Cross-Over Date or
after the fifth anniversary of the Cut-Off Date the Fraud Loss Amount shall be
zero.
Full Unscheduled Principal Receipt: Any Unscheduled Principal
Receipt with respect to a Mortgage Loan (i) in the amount of the outstanding
principal balance of such Mortgage Loan and resulting in the full satisfaction
of such Mortgage Loan or (ii) representing Liquidation Proceeds other than
Partial Liquidation Proceeds.
Holder: See "Certificateholder."
Independent: When used with respect to any specified Person, such
Person who (i) is in fact independent of the Seller, the Master Servicer and any
Servicer, (ii) does not have any direct financial interest or any material
indirect financial interest in the Seller or the Master Servicer or any Servicer
or in an affiliate of either, and (iii) is not connected with the Seller, the
Master Servicer or any Servicer as an officer, employee, promoter, underwriter,
trustee, partner, director or person performing similar functions.
Insurance Policy: Any insurance or performance bond relating to a
Mortgage Loan or the Mortgage Loans, including any hazard insurance, special
hazard insurance, flood insurance, primary mortgage insurance, mortgagor
bankruptcy bond or title insurance.
Insurance Proceeds: Proceeds paid by any insurer pursuant to any
Insurance Policy covering a Mortgage Loan.
Insured Expenses: Expenses covered by any Insurance Policy covering
a Mortgage Loan.
Interest Accrual Amount: As to any Distribution Date and any Class
of Class A Certificates (other than the Class A-PO Certificates), (a) the
product of (i) 1/12th of the Class A Pass-Through Rate for such Class and (ii)
the Principal Balance of such Class as of the Determination Date preceding such
Distribution Date minus (b) the Class A Interest Percentage of such Class of (i)
any Non-Supported Interest Shortfall allocated to the Class A Certificates with
respect to such Distribution Date, (ii) the interest portion of any Excess
Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses
allocated to the Class A Certificates with respect to such Distribution Date
pursuant to Section 4.02(e) and (iii) the interest portion of any Realized
Losses (other than Excess Special Hazard Losses, Excess Fraud Losses and Excess
Bankruptcy Losses) allocated to the Class A Certificates on or after the
Cross-Over Date pursuant to Section 4.02(e). The Class A-PO Certificates have no
Interest Accrual Amount.
As to any Distribution Date and any Class of Class B Certificates,
an amount equal to (i) the product of 1/12th of the Class B Pass-Through Rate
and the Principal Balance of such Class as of the Determination Date preceding
such Distribution Date minus (ii) the Class B Interest Percentage of such Class
of (x) any Non-Supported Interest Shortfall allocated to the Class B
Certificates with respect to such Distribution Date and (y) the interest portion
of any Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy
Losses allocated to the Class B Certificates with respect to such Distribution
Date pursuant to Section 4.02(e).
Liquidated Loan: A Mortgage Loan with respect to which the related
Mortgaged Property has been acquired, liquidated or foreclosed and with respect
to which the applicable Servicer determines that all Liquidation Proceeds which
it expects to recover have been recovered.
Liquidated Loan Loss: With respect to any Distribution Date, the
aggregate of the amount of losses with respect to each Mortgage Loan which
became a Liquidated Loan during the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts for such Distribution
Date, equal to the excess of (i) the unpaid principal balance of each such
Liquidated Loan, plus accrued interest thereon in accordance with the
amortization schedule at the time applicable thereto at the applicable Net
Mortgage Interest Rate from the Due Date as to which interest was last paid with
respect thereto through the last day of the month preceding the month in which
such Distribution Date occurs, over (ii) Net Liquidation Proceeds with respect
to such Liquidated Loan.
Liquidation Expenses: Expenses incurred by a Servicer in connection
with the liquidation of any defaulted Mortgage Loan or property acquired in
respect thereof (including, without limitation, legal fees and expenses,
committee or referee fees, and, if applicable, brokerage commissions and
conveyance taxes), any unreimbursed advances expended by such Servicer pursuant
to its Servicing Agreement or the Master Servicer or Trustee pursuant hereto
respecting the related Mortgage Loan, including any unreimbursed advances for
real property taxes or for property restoration or preservation of the related
Mortgaged Property. Liquidation Expenses shall not include any previously
incurred expenses in respect of an REO Mortgage Loan which have been netted
against related REO Proceeds.
Liquidation Proceeds: Amounts received by a Servicer (including
Insurance Proceeds) in connection with the liquidation of defaulted Mortgage
Loans or property acquired in respect thereof, whether through foreclosure, sale
or otherwise, including payments in connection with such Mortgage Loans received
from the Mortgagor, other than amounts required to be paid to the Mortgagor
pursuant to the terms of the applicable Mortgage or to be applied otherwise
pursuant to law.
Liquidation Profits: As to any Distribution Date, the excess, if
any, of (i) Net Liquidation Proceeds in respect of each Mortgage Loan that
became a Liquidated Loan during the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts for such Distribution
Date over (ii) the sum of the unpaid principal balance of each such Liquidated
Loan plus accrued and unpaid interest at the applicable Mortgage Interest Rate
on the unpaid principal balance thereof from the Due Date to which interest was
last paid by the Mortgagor (or, in the case of a Liquidated Loan that had been
an REO Mortgage Loan, from the Due Date to which interest was last deemed to
have been paid) to the first day of the month in which such Distribution Date
occurs.
Loan-to-Value Ratio: The ratio, expressed as a percentage, the
numerator of which is the principal balance of a particular Mortgage Loan at
origination and the denominator of which is the lesser of (x) the appraised
value of the related Mortgaged Property determined in the appraisal used by the
originator at the time of origination of such Mortgage Loan, and (y) if the
Mortgage is originated in connection with a sale of the Mortgaged Property, the
sale price for such Mortgaged Property.
Master Servicer: Norwest Bank Minnesota, National Association, or
its successor in interest.
Master Servicing Fee: With respect to any Mortgage Loan and any
Distribution Date, the fee payable monthly to the Master Servicer pursuant to
Section 6.05 equal to a fixed percentage (expressed as a per annum rate) of the
unpaid principal balance of such Mortgage Loan.
Master Servicing Fee Rate: As set forth in Section 11.26.
MERS: As defined in Section 2.01.
Mid-Month Receipt Period: With respect to each Distribution Date,
the one month period beginning on the Determination Date (or, in the case of the
first Distribution Date, from and including the Cut-Off-Date) occurring in the
calendar month preceding the month in which such Distribution Date occurs and
ending on the day preceding the Determination Date immediately preceding such
Distribution Date.
MLCC Additional Collateral: The Additional Collateral, as defined in
the MLCC Servicing Agreement.
MLCC Additional Collateral Mortgage Loans: The Additional Collateral
Mortgage Loans, as defined in the MLCC Servicing Agreement.
MLCC Mortgage Loan Purchase Agreement: The master mortgage loan
purchase agreement dated as of April 1, 1998 between Merrill Lynch Credit
Corporation, as seller, and Norwest Funding, Inc., as purchaser.
MLCC Servicing Agreement: The Servicing Agreement executed by
Merrill Lynch Credit Corporation, as Servicer.
MLCC Surety Bond: The Surety Bond, as defined in the MLCC Servicing
Agreement.
Month End Interest: As defined in each Servicing Agreement or with
respect to the MLCC Servicing Agreement, the amount defined as "Compensating
Interest."
Monthly Payment: As to any Mortgage Loan (including any REO Mortgage
Loan) and any Due Date, the payment of principal and interest due thereon in
accordance with the amortization schedule at the time applicable thereto (after
adjustment for any Curtailments and Deficient Valuations occurring prior to such
Due Date but before any adjustment to such amortization schedule, other than for
Deficient Valuations, by reason of any bankruptcy or similar proceeding or any
moratorium or similar waiver or grace period).
Moody's: Moody's Investors Service, Inc., or its successor in
interest.
Mortgage: The mortgage, deed of trust or other instrument creating a
first lien on Mortgaged Property securing a Mortgage Note together with any
Mortgage Loan Rider, if applicable.
Mortgage 100sm Pledge Agreement: As defined in the MLCC Servicing
Agreement.
Mortgage Interest Rate: As to any Mortgage Loan, the per annum rate
at which interest accrues on the unpaid principal balance thereof as set forth
in the related Mortgage Note, which rate is as indicated on the Mortgage Loan
Schedule.
Mortgage Loan Purchase Agreement: The mortgage loan purchase
agreement dated as of March 30, 2000 between Norwest Mortgage, as seller, and
the Seller, as purchaser.
Mortgage Loan Rider: The standard Fannie Mae/Freddie Mac riders to
the Mortgage Note and/or Mortgage riders required when the Mortgaged Property is
a condominium unit or a unit in a planned unit development.
Mortgage Loan Schedule: The list of the Mortgage Loans transferred
to the Trustee on the Closing Date as part of the Trust Estate and attached
hereto as Exhibits F-1, F-2 and F-3, which list may be amended following the
Closing Date upon conveyance of a Substitute Mortgage Loan pursuant to Section
2.02 or 2.03 and which list shall set forth at a minimum the following
information of the close of business on the Cut-Off Date (or, with respect to
Substitute Mortgage Loans, as of the close of business on the day of
substitution) as to each Mortgage Loan:
(i) the Mortgage Loan identifying number;
(ii) the city, state and zip code of the Mortgaged Property;
(iii) the type of property;
(iv) the Mortgage Interest Rate;
(v) the Net Mortgage Interest Rate;
(vi) the Monthly Payment;
(vii) the original number of months to maturity;
(viii) the scheduled maturity date;
(ix) the Cut-Off Date Principal Balance;
(x) the Loan-to-Value Ratio at origination;
(xi) whether such Mortgage Loan is a Subsidy Loan;
(xii) whether such Mortgage Loan is covered by primary mortgage
insurance;
(xiii) the Servicing Fee Rate;
(xiv) the Master Servicing Fee Rate;
(xv) Fixed Retained Yield, if applicable; and
(xvi) for each Exhibit F-3 Mortgage Loan, the name of the Servicer with
respect thereto.
Such schedule may consist of multiple reports that collectively set
forth all of the information required.
Mortgage Loans: Each of the mortgage loans transferred and assigned
to the Trustee on the Closing Date pursuant to Section 2.01 and any mortgage
loans substituted therefor pursuant to Section 2.02 or 2.03, in each case as
from time to time are included in the Trust Estate as identified in the Mortgage
Loan Schedule.
Mortgage Note: The note or other evidence of indebtedness evidencing
the indebtedness of a Mortgagor under a Mortgage Loan together with any related
Mortgage Loan Riders, if applicable.
Mortgaged Property: The property subject to a Mortgage, which may
include Co-op Shares or residential long-term leases.
Mortgagor: The obligor on a Mortgage Note.
Net Liquidation Proceeds: As to any defaulted Mortgage Loan,
Liquidation Proceeds net of Liquidation Expenses.
Net Liquidation Profits: As to any Distribution Date, the amount, if
any, by which (i) Aggregate Liquidation Profits with respect to such
Distribution Date exceed (ii) Liquidated Loan Losses with respect to such
Distribution Date.
Net Mortgage Interest Rate: With respect to each Mortgage Loan, a
rate equal to (i) the Mortgage Interest Rate on such Mortgage Loan minus (ii)
the sum of (a) the applicable Servicing Fee Rate, as set forth in Section 11.25
with respect to such Mortgage Loan, (b) the Master Servicing Fee Rate, as set
forth in Section 11.26 with respect to such Mortgage Loan and (c) the Fixed
Retained Yield Rate, if any, with respect to such Mortgage Loan. Any regular
monthly computation of interest at such rate shall be based upon annual interest
at such rate on the applicable amount divided by twelve.
Net REO Proceeds: As to any REO Mortgage Loan, REO Proceeds net of
any related expenses of the Servicer.
Non-permitted Foreign Holder: As defined in Section 5.02(d).
Non-PO Fraction: With respect to any Mortgage Loan, the lesser of
(i) 1.00 and (ii) the quotient obtained by dividing the Net Mortgage Interest
Rate for such Mortgage Loan by 7.500%.
Nonrecoverable Advance: Any portion of a Periodic Advance previously
made or proposed to be made in respect of a Mortgage Loan which has not been
previously reimbursed to the Servicer, the Master Servicer or the Trustee, as
the case may be, and which the Servicer, the Master Servicer or the Trustee
determines will not, or in the case of a proposed Periodic Advance would not, be
ultimately recoverable from Liquidation Proceeds or other recoveries in respect
of the related Mortgage Loan. The determination by the Servicer, the Master
Servicer or the Trustee (i) that it has made a Nonrecoverable Advance or (ii)
that any proposed Periodic Advance, if made, would constitute a Nonrecoverable
Advance, shall be evidenced by an Officer's Certificate of the Servicer
delivered to the Master Servicer for redelivery to the Trustee or, in the case
of a Master Servicer determination, an Officer's Certificate of the Master
Servicer or delivered to the Trustee, in each case detailing the reasons for
such determination.
Non-Supported Interest Shortfall: With respect to any Distribution
Date, the excess, if any, of the aggregate Prepayment Interest Shortfall on the
Mortgage Loans over the aggregate Compensating Interest with respect to such
Distribution Date. With respect to each Distribution Date occurring on or after
the Cross-Over Date, the Non-Supported Interest Shortfall determined pursuant to
the preceding sentence will be increased by the amount of any Cross-Over Date
Interest Shortfall for such Distribution Date. Any Non-Supported Interest
Shortfall will be allocated to (a) the Class A Certificates according to the
percentage obtained by dividing the Class A Non-PO Principal Balance by the sum
of the Class A Non-PO Principal Balance and the Class B Principal Balance and
(b) the Class B Certificates according to the percentage obtained by dividing
the Class B Principal Balance by the sum of the Class A Non-PO Principal Balance
and the Class B Principal Balance.
Non-U.S. Person: As defined in Section 4.01(f).
Norwest Mortgage: Norwest Mortgage, Inc., or its successor in
interest.
Norwest Mortgage Correspondents: The entities listed on the Mortgage
Loan Schedule, from which Norwest Mortgage purchased the Mortgage Loans.
Norwest Servicing Agreement: The Servicing Agreement providing for
the servicing of the Exhibit F-1 Mortgage Loans and Exhibit F-2 Mortgage Loans
initially by Norwest Mortgage.
Officers' Certificate: With respect to any Person, a certificate
signed by the Chairman of the Board, the President or a Vice President, and by
the Treasurer, the Secretary or one of the Assistant Treasurers or Assistant
Secretaries of such Person (or, in the case of a Person which is not a
corporation, signed by the person or persons having like responsibilities), and
delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who may be outside
or salaried counsel for the Seller, a Servicer or the Master Servicer, or any
affiliate of the Seller, a Servicer or the Master Servicer, acceptable to the
Trustee if such opinion is to be delivered to the Trustee; provided, however,
that with respect to REMIC matters, matters relating to the determination of
Eligible Accounts or matters relating to transfers of Certificates, such counsel
shall be Independent.
Optimal Adjustment Event: With respect to any Class of Class B
Certificates and any Distribution Date, an Optimal Adjustment Event will occur
with respect to such Class if: (i) the Principal Balance of such Class on the
Determination Date succeeding such Distribution Date would have been reduced to
zero (regardless of whether such Principal Balance was reduced to zero as a
result of principal distribution or the allocation of Realized Losses) and (ii)
(a) the Principal Balance of any Class of Class A Certificates would be subject
to further reduction as a result of the third or fifth sentences of the
definition of Principal Balance or (b) the Principal Balance of a Class of Class
B Certificates with a lower numerical designation would be reduced with respect
to such Distribution Date as a result of the application of clause (ii) of the
definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class
B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance
or Class B-6 Principal Balance.
Original Class A Percentage: The Class A Percentage as of the
Cut-Off Date, as set forth in Section 11.04.
Original Class A Non-PO Principal Balance: The sum of the Original
Principal Balances of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5,
Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Cass A-12
and Class A-R Certificates, as set forth in Section 11.06.
Original Class B Principal Balance: The sum of the Original Class
B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3
Principal Balance, Original Class B-4 Principal Balance, Original Class B-5
Principal Balance and Original Class B-6 Principal Balance, as set forth in
Section 11.14.
Original Class B-1 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-2
Principal Balance, the Original Class B-3 Principal Balance, the Original Class
B-4 Principal Balance, Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal
Balance and the Original Class B Principal Balance. The Original Class B-1
Fractional Interest is specified in Section 11.16.
Original Class B-2 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-3
Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5
Principal Balance and the Original Class B-6 Principal Balance by the sum of the
Original Class A Non-PO Principal Balance and the Original Class B Principal
Balance. The Original Class B-2 Fractional Interest is specified in Section
11.17.
Original Class B-3 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-4
Principal Balance, the Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal
Balance and the Original Class B Principal Balance. The Original Class B-3
Fractional Interest is specified in Section 11.18.
Original Class B-4 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-5
Principal Balance and the Original Class B-6 Principal Balance by the sum of the
Original Class A Non-PO Principal Balance and the Original Class B Principal
Balance. The Original Class B-4 Fractional Interest is specified in Section
11.19.
Original Class B-5 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the Original Class B-6 Principal
Balance by the sum of the Original Class A Non-PO Principal Balance and the
Original Class B Principal Balance. The Original Class B-5 Fractional Interest
is specified in Section 11.20.
Original Class B-1 Percentage: The Class B-1 Percentage as of the
Cut-Off Date, as set forth in Section 11.08.
Original Class B-2 Percentage: The Class B-2 Percentage as of the
Cut-Off Date, as set forth in Section 11.09.
Original Class B-3 Percentage: The Class B-3 Percentage as of the
Cut-Off Date, as set forth in Section 11.10.
Original Class B-4 Percentage: The Class B-4 Percentage as of the
Cut-Off Date, as set forth in Section 11.11.
Original Class B-5 Percentage: The Class B-5 Percentage as of the
Cut-Off Date, as set forth in Section 11.12.
Original Class B-6 Percentage: The Class B-6 Percentage as of the
Cut-Off Date, as set forth in Section 11.13.
Original Class B-1 Principal Balance: The Class B-1 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Class B-2 Principal Balance: The Class B-2 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Class B-3 Principal Balance: The Class B-3 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Class B-4 Principal Balance: The Class B-4 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Class B-5 Principal Balance: The Class B-5 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Class B-6 Principal Balance: The Class B-6 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.15.
Original Principal Balance: Any of the Original Principal Balances
of the Classes of Class A Certificates as set forth in Section 11.05; the
Original Class B-1 Principal Balance, Original Class B-2 Principal Balance,
Original Class B-3 Principal Balance, Original Class B-4 Principal Balance,
Original Class B-5 Principal Balance or Original Class B-6 Principal Balance as
set forth in Section 11.15.
Original Subordinated Percentage: The Subordinated Percentage as of
the Cut-Off Date, as set forth in Section 11.07.
Other Servicer: Any of the Servicers other than Norwest Mortgage.
Other Servicing Agreements: The Servicing Agreements other than the
Norwest Servicing Agreement.
Outstanding Mortgage Loan: As to any Due Date, a Mortgage Loan
(including an REO Mortgage Loan) which was not the subject of a Full Unscheduled
Principal Receipt prior to such Due Date and which was not repurchased by the
Seller prior to such Due Date pursuant to Section 2.02 or 2.03.
Owner Mortgage Loan File: A file maintained by the Trustee (or the
Custodian, if any) for each Mortgage Loan that contains the documents specified
in the Servicing Agreements or, in the case of each Mortgage Loan serviced by
Merrill Lynch Credit Corporation, the documents specified in the MLCC Mortgage
Loan Purchase Agreement, under their respective "Owner Mortgage Loan File"
definition or similar definition and/or other provisions requiring delivery of
specified documents to the owner of the Mortgage Loan in connection with the
purchase thereof, and any additional documents required to be added to the Owner
Mortgage Loan File pursuant to this Agreement.
PAC Certificates: The Class A-1 and Class A-10 Certificates.
PAC Principal Amount: As defined in Section 4.01(b).
Parent Power(R)Guaranty Agreement for Real Estate: As defined in the
MLCC Servicing Agreement.
Parent Power(R)Guaranty and Security Agreement for Security Account:
As defined in the MLCC Servicing Agreement.
Partial Liquidation Proceeds: Liquidation Proceeds received by a
Servicer prior to the month in which the related Mortgage Loan became a
Liquidated Loan.
Partial Unscheduled Principal Receipt: An Unscheduled Principal
Receipt which is not a Full Unscheduled Principal Receipt.
Paying Agent: The Person authorized on behalf of the Trustee, as
agent for the Master Servicer, to make distributions to Certificateholders with
respect to the Certificates and to forward to Certificateholders the periodic
and annual statements required by Section 4.04. The Paying Agent may be any
Person directly or indirectly controlling or controlled by or under common
control with the Master Servicer and may be the Trustee. The initial Paying
Agent is appointed in Section 4.03(a).
Payment Account: The account maintained pursuant to Section 4.03(b).
Percentage Interest: With respect to a Class A Certificate of a
Class, the undivided percentage interest obtained by dividing the original
principal balance of such Certificate by the Original Principal Balance of such
Class of Class A Certificates. With respect to a Class B Certificate of a Class,
the undivided percentage interest obtained by dividing the original principal
balance of such Certificate by the Original Principal Balance of such Class of
Class B Certificates.
Periodic Advance: The aggregate of the advances required to be made
by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by
the Master Servicer or the Trustee hereunder, the amount of any such advances
being equal to the total of all Monthly Payments (adjusted, in each case (i) in
respect of interest, to the applicable Mortgage Interest Rate less the
applicable Servicing Fee in the case of Periodic Advances made by a Servicer and
to the applicable Net Mortgage Interest Rate in the case of Periodic Advances
made by the Master Servicer or Trustee and (ii) by the amount of any related
Debt Service Reductions or reductions in the amount of interest collectable from
the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940,
as amended, or similar legislation or regulations then in effect) on the
Mortgage Loans, that (x) were delinquent as of the close of business on the
related Determination Date, (y) were not the subject of a previous Periodic
Advance by such Servicer or of a Periodic Advance by the Master Servicer or the
Trustee, as the case may be and (z) have not been determined by the Master
Servicer, such Servicer or Trustee to be Nonrecoverable Advances.
Person: Any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.
Plan: As defined in Section 5.02(c).
PO Fraction: With respect to any Discount Mortgage Loan, the
difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with
respect to any other Mortgage Loan, zero.
Pool Balance (Non-PO Portion): As of any Distribution Date, the sum
of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of
the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the
Scheduled Principal Balance of such Mortgage Loan.
Pool Balance (PO Portion): As of any Distribution Date, the sum of
the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the
product of (i) the PO Fraction for such Mortgage Loan and (ii) the Scheduled
Principal Balance of such Mortgage Loan.
Pool Distribution Amount: As of any Distribution Date, the funds
eligible for distribution to the Holders of the Certificates on such
Distribution Date, which shall be the sum of (i) all previously undistributed
payments or other receipts on account of principal and interest on or in respect
of the Mortgage Loans (including, without limitation, the proceeds of any
repurchase of a Mortgage Loan by the Seller and any Substitution Principal
Amount) received by the Master Servicer with respect to the applicable
Remittance Date in the month of such Distribution Date and any Unscheduled
Principal Receipts received by the Master Servicer on or prior to the Business
Day preceding such Distribution Date, (ii) all Periodic Advances made by a
Servicer pursuant to the related Servicing Agreement or Periodic Advances made
by the Master Servicer or the Trustee pursuant to Section 3.03 and (iii) all
other amounts required to be placed in the Certificate Account by the Servicer
on or before the applicable Remittance Date or by the Master Servicer or the
Trustee on or prior to the Distribution Date, but excluding the following:
(a) amounts received as late payments of principal or interest and
respecting which the Master Servicer or the Trustee has made one or more
unreimbursed Periodic Advances;
(b) the portion of Liquidation Proceeds used to reimburse any
unreimbursed Periodic Advances by the Master Servicer or the Trustee;
(c) those portions of each payment of interest on a particular
Mortgage Loan which represent (i) the Fixed Retained Yield, if any, (ii) the
Servicing Fee and (iii) the Master Servicing Fee;
(d) all amounts representing scheduled payments of principal and
interest due after the Due Date occurring in the month in which such
Distribution Date occurs;
(e) all Unscheduled Principal Receipts received by the Servicers
after the Applicable Unscheduled Principal Receipt Period relating to the
Distribution Date for the applicable type of Unscheduled Principal Receipt, and
all related payments of interest on such amounts;
(f) all repurchase proceeds with respect to Mortgage Loans
repurchased by the Seller pursuant to Section 2.02 or 2.03 on or following the
Due Date in the month in which such Distribution Date occurs and the difference
between the unpaid principal balance of such Mortgage Loan substituted for a
defective Mortgage Loan during the month preceding the month in which such
Distribution Date occurs and the unpaid principal balance of such defective
Mortgage Loan;
(g) that portion of Liquidation Proceeds and REO Proceeds which
represents any unpaid Servicing Fee or Master Servicing Fee;
(h) all income from Eligible Investments that is held in the
Certificate Account for the account of the Master Servicer;
(i) all other amounts permitted to be withdrawn from the
Certificate Account in respect of the Mortgage Loans, to the extent not covered
by clauses (a) through (h) above, or not required to be deposited in the
Certificate Account under this Agreement;
(j) Net Liquidation Profits;
(k) Month End Interest; and
(l) the amount of any Recoveries in respect of principal which had
previously been allocated as a loss to one or more Classes of the Class A or
Class B Certificates pursuant to Section 4.02 other than Recoveries covered by
the last sentence of Section 4.02(d).
Pool Scheduled Principal Balance: As to any Distribution Date, the
aggregate Scheduled Principal Balances of all Mortgage Loans that were
Outstanding Mortgage Loans on the Due Date in the month preceding the month of
such Distribution Date.
Prepayment In Full: With respect to any Mortgage Loan, a Mortgagor
payment consisting of a Principal Prepayment in the amount of the outstanding
principal balance of such loan and resulting in the full satisfaction of such
obligation.
Prepayment Interest Shortfall: On any Distribution Date, the amount
of interest, if any, that would have accrued on any Mortgage Loan which was the
subject of a Prepayment in Full at the Net Mortgage Interest Rate for such
Mortgage Loan from the date of its Prepayment in Full (but in the case of a
Prepayment in Full where the Applicable Unscheduled Principal Receipt Period is
the Mid-Month Receipt Period, only if the date of the Prepayment in Full is on
or after the Determination Date in the month prior to the month of such
Distribution Date and prior to the first day of the month of such Distribution
Date) through the last day of the month prior to the month of such Distribution
Date.
Principal Adjustment: In the event that the Class B-1 Optimal
Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal
Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal
Principal Amount or Class B-6 Optimal Principal Amount is calculated in
accordance with the proviso in such definition with respect to any Distribution
Date, the Principal Adjustment for such Class of Class B Certificates shall
equal the difference between (i) the amount that would have been distributed to
such Class as principal in accordance with Section 4.01(a) for such Distribution
Date, calculated without regard to such proviso and assuming there are no
Principal Adjustments for such Distribution Date and (ii) the Adjusted Principal
Balance for such Class.
Principal Balance: As of the first Determination Date and as to any
Class of Class A Certificates, the Original Principal Balance of such Class. As
of any subsequent Determination Date prior to the Cross-Over Date and as to any
Class of Class A Certificates (other than the Class A-PO Certificates), the
Original Principal Balance of such Class (increased in the case of a Class of
Accrual Certificates by the Accrual Distribution Amounts with respect to prior
Distribution Dates for such Class of Accrual Certificates) less the sum of (a)
all amounts previously distributed in respect of such Class on prior
Distribution Dates (i) pursuant to Paragraph third clause (A) of Section
4.01(a), (ii) as a result of a Principal Adjustment and (iii), if applicable,
from the Accrual Distribution Amounts for such prior Distribution Dates and (b)
the Realized Losses allocated through such Determination Date to such Class
pursuant to Section 4.02(b). After the Cross-Over Date, each such Principal
Balance will also be reduced (a "Loss Reduction") on each Determination Date by
an amount equal to the product of the Class A Loss Percentage of such Class and
the excess, if any, of (i) the Class A Non-PO Principal Balance as of such
Determination Date without regard to this sentence over (ii) the difference
between (A) the Adjusted Pool Amount for the preceding Distribution Date and (B)
the Adjusted Pool Amount (PO Portion) for the preceding Distribution Date.
As of any subsequent Determination Date prior to the Cross-Over Date
and as to the Class A-PO Certificates, the Original Principal Balance of such
Class less the sum of (a) all amounts previously distributed in respect of the
Class A-PO Certificates on prior Distribution Dates pursuant to Paragraphs third
clause (B) and fourth of Section 4.01(a) and (b) the Realized Losses allocated
through such Determination Date to the Class A-PO Certificates pursuant to
Section 4.02(b). After the Cross-Over Date, such Principal Balance will also be
reduced on each Determination Date by an amount equal to the difference, if any,
between such Principal Balance as of such Determination Date without regard to
this sentence and the Adjusted Pool Amount (PO Portion) for the preceding
Distribution Date.
As to the Class B Certificates, the Class B-1 Principal Balance,
Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal
Balance, Class B-5 Principal Balance and Class B-6 Principal Balance,
respectively.
Principal Prepayment: Any Mortgagor payment on a Mortgage Loan which
is received in advance of its Due Date and is not accompanied by an amount
representing scheduled interest for any period subsequent to the date of
prepayment.
Prior Month Receipt Period: With respect to each Distribution Date,
the calendar month preceding the month in which such Distribution Date occurs.
Priority Amount: For any Distribution Date, the lesser of (i) the
Principal Balance of the Class A-4 Certificates and (ii) the product of (1) the
Priority Percentage, (2) the Shift Percentage and (3) the sum of the Scheduled
Principal Amount and the Unscheduled Principal Amount.
Priority Percentage: The Principal Balance of the Class A-4
Certificates divided by (ii) the Class A Non-PO Principal Balance.
Prohibited Transaction Tax: Any tax imposed under Section 860F of
the Code.
Prudent Servicing Practices: The standard of care set forth in each
Servicing Agreement.
Rating Agency: Any nationally recognized statistical credit rating
agency, or its successor, that rated one or more Classes of the Certificates at
the request of the Seller at the time of the initial issuance of the
Certificates. The Rating Agencies for the Class A Certificates (other than the
Class A-R Certificate) are DCR and Moody's. The Rating Agency for the Class A-R,
Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates is DCR. If
any such agency or a successor is no longer in existence, "Rating Agency" shall
be such statistical credit rating agency, or other comparable Person, designated
by the Seller, notice of which designation shall be given to the Trustee and the
Master Servicer. References herein to the highest short-term rating category of
a Rating Agency shall mean D-1+ in the case of DCR, P-1+ in the case of Moody's
and in the case of any other Rating Agency shall mean its equivalent of such
ratings. References herein to the highest long-term rating categories of a
Rating Agency shall mean AAA, and in the case of any other Rating Agency shall
mean its equivalent of such rating without any plus or minus.
Realized Losses: With respect to any Distribution Date, (i)
Liquidated Loan Losses (including Special Hazard Losses and Fraud Losses) and
(ii) Bankruptcy Losses incurred in the month preceding the month of such
Distribution Date.
Record Date: The last Business Day of the month preceding the month
of the related Distribution Date.
Recovery: Any amount received on a Mortgage Loan subsequent to such
Mortgage Loan being determined to be a Liquidated Loan.
Reduction Amount: As defined in Section 4.01(b).
Relevant Anniversary: See "Bankruptcy Loss Amount."
REMIC: A "real estate mortgage investment conduit" as defined in
Code Section 860D. "The REMIC" means the REMIC constituted by the Trust Estate.
REMIC Provisions: Provisions of the federal income tax law relating
to REMICs, which appear at Sections 860A through 860G of Part IV of Subchapter M
of Chapter 1 of Subtitle A of the Code, and related provisions, and U.S.
Department of the Treasury temporary, proposed or final regulations promulgated
thereunder, as the foregoing are in effect (or with respect to proposed
regulations, are proposed to be in effect) from time to time.
Remittance Date: As defined in each of the Servicing Agreements.
REO Mortgage Loan: Any Mortgage Loan which is not a Liquidated Loan
and as to which the indebtedness evidenced by the related Mortgage Note is
discharged and the related Mortgaged Property is held as part of the Trust
Estate.
REO Proceeds: Proceeds received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of the related
Mortgaged Property).
Request for Release: A request for release in substantially the form
attached as Exhibit G hereto.
Responsible Officer: When used with respect to the Trustee, the
Chairman or Vice-Chairman of the Board of Directors or Trustees, the Chairman or
Vice-Chairman of the Executive or Standing Committee of the Board of Directors
or Trustees, the President, the Chairman of the Committee on Trust Matters, any
Vice President, the Secretary, any Assistant Secretary, the Treasurer, any
Assistant Treasurer, the Cashier, any Assistant Cashier, any Trust Officer or
Assistant Trust Officer, the Controller and any Assistant Controller or any
other officer of the Trustee customarily performing functions similar to those
performed by any of the above-designated officers and also, with respect to a
particular matter, any other officer to whom such matter is referred because of
such officer's knowledge of and familiarity with the particular subject.
Rule 144A: Rule 144A promulgated under the Securities Act of 1933,
as amended.
Scheduled Certificates: The Class A-7 and Class A-9 Certificates.
Scheduled Principal Amount: The sum for each outstanding Mortgage
Loan (including each defaulted Mortgage Loan, other than a Liquidated Loan, with
respect to which the related Mortgaged Property has been acquired by the Trust
Estate) of the product of (A) the Non-PO Fraction for such Mortgage Loan and (B)
the sum of the amounts described in clauses (y)(i) and (y)(iv) of the definition
of Class A Non-PO Optimal Principal Amount.
Scheduled Principal Balance: As to any Mortgage Loan and
Distribution Date, the principal balance of such Mortgage Loan as of the Due
Date in the month preceding the month of such Distribution Date as specified in
the amortization schedule at the time relating thereto (before any adjustment to
such amortization schedule by reason of any bankruptcy (other than Deficient
Valuations) or similar proceeding or any moratorium or similar waiver or grace
period) after giving effect to (A) Unscheduled Principal Receipts received or
applied by the applicable Servicer during the related Unscheduled Principal
Receipt Period for each applicable type of Unscheduled Principal Receipt related
to the Distribution Date occurring in the month preceding such Distribution
Date, (B) Deficient Valuations incurred prior to such Due Date and (C) the
payment of principal due on such Due Date and irrespective of any delinquency in
payment by the related Mortgagor. Accordingly, the Scheduled Principal Balance
of a Mortgage Loan which becomes a Liquidated Loan at any time through the last
day of such related Unscheduled Principal Receipt Period shall be zero.
Seller: Norwest Asset Securities Corporation, or its successor in
interest.
Servicer Mortgage Loan File: As defined in each of the Servicing
Agreements.
Servicers: Each of Norwest Mortgage, National City Mortgage Co.,
Chevy Chase Bank, F.S.B., Downey Savings and Loan Association, F.A., HomeSide
Lending, Inc., Merrill Lynch Credit Corporation, Hibernia National Bank, The
Huntington Mortgage Company, Bank of Oklahoma, N.A., America First Credit Union,
Farmers State Bank & Trust Company of Superior and Keystone National Bank as a
Servicer under the related Servicing Agreement.
Servicing Agreements: Each of the Servicing Agreements executed with
respect to a portion of the Mortgage Loans by one of the Servicers, which
agreements are attached hereto, collectively, as Exhibit L.
Servicing Fee: With respect to any Servicer, as defined in its
Servicing Agreement.
Servicing Fee Rate: With respect to a Mortgage Loan, as set forth in
Section 11.25.
Servicing Officer: Any officer of a Servicer involved in, or
responsible for, the administration and servicing of the Mortgage Loans.
Shift Percentage: As to any Distribution Date, the percentage
indicated below:
Distribution Date Occurring In Shift Percentage
------------------------------ ----------------
April 2000 through March 2005................... 0%
April 2005 through March 2006................... 30%
April 2006 through March 2007................... 40%
April 2007 through March 2008................... 60%
April 2008 through March 2009................... 80%
April 2009 and thereafter....................... 100%
Similar Law: As defined in Section 5.02(c).
Single Certificate: A Certificate of any Class that evidences the
smallest permissible Denomination for such Class, as set forth in Section 11.24.
Special Hazard Loss: (i) A Liquidated Loan Loss suffered by a
Mortgaged Property on account of direct physical loss, exclusive of (a) any loss
covered by a hazard policy or a flood insurance policy maintained in respect of
such Mortgaged Property pursuant to a Servicing Agreement and (b) any loss
caused by or resulting from:
(1) normal wear and tear;
(2) infidelity, conversion or other dishonest act on the part of
the Trustee, or the Servicer or any of their agents or
employees; or
(3) errors in design, faulty workmanship or faulty materials,
unless the collapse of the property or a part thereof ensues;
or (ii) any Liquidated Loan Loss suffered by the Trust Estate arising from or
related to the presence or suspected presence of hazardous wastes or hazardous
substances on a Mortgaged Property unless such loss to a Mortgaged Property is
covered by a hazard policy or a flood insurance policy maintained in respect of
such Mortgaged Property pursuant to the Servicing Agreement.
Special Hazard Loss Amount: As of any Distribution Date, an amount
equal to $3,800,799.13 minus the sum of (i) the aggregate amount of Special
Hazard Losses allocated solely to the Class B Certificates in accordance with
Section 4.02(a) and (ii) the Special Hazard Adjustment Amount (as defined below)
as most recently calculated. For each anniversary of the Cut-Off Date, the
Special Hazard Adjustment Amount shall be calculated and shall be equal to the
amount, if any, by which the amount calculated in accordance with the preceding
sentence (without giving effect to the deduction of the Special Hazard
Adjustment Amount for such anniversary) exceeds the greater of (A) the product
of the Special Hazard Percentage for such anniversary multiplied by the
outstanding principal balance of all the Mortgage Loans on the Distribution Date
immediately preceding such anniversary, (B) twice the outstanding principal
balance of the Mortgage Loan in the Trust Estate which has the largest
outstanding principal balance on the Distribution Date immediately preceding
such anniversary and (C) that which is necessary to maintain the original
ratings on the Certificates as evidenced by letters to that effect delivered by
Rating Agencies to the Master Servicer and the Trustee. On and after the
Cross-Over Date, the Special Hazard Loss Amount shall be zero.
Special Hazard Percentage: As of each anniversary of the Cut-Off
Date, the greater of (i) 1.00% and (ii) the largest percentage obtained by
dividing the aggregate outstanding principal balance (as of the immediately
preceding Distribution Date) of the Mortgage Loans secured by Mortgaged
Properties located in a single, five-digit zip code area in the State of
California by the outstanding principal balance of all the Mortgage Loans as of
the immediately preceding Distribution Date.
Startup Day: As defined in Section 2.05.
Subordinated Percentage: As to any Distribution Date, the percentage
which is the difference between 100% and the Class A Percentage for such date.
Subordinated Prepayment Percentage: As to any Distribution Date, the
percentage which is the difference between 100% and the Class A Prepayment
Percentage for such date.
Subsidy Loan: Any Mortgage Loan subject to a temporary interest
subsidy agreement pursuant to which the monthly interest payments made by the
related Mortgagor will be less than the scheduled monthly interest payments on
such Mortgage Loan, with the resulting difference in interest payments being
provided by the employer of the Mortgagor. Each Subsidy Loan will be identified
as such in the Mortgage Loan Schedule.
Substitute Mortgage Loan: As defined in Section 2.02.
Substitution Principal Amount: With respect to any Mortgage Loan
substituted in accordance with Section 2.02 or pursuant to Section 2.03, the
excess of (x) the unpaid principal balance of the Mortgage Loan which is
substituted for over (y) the unpaid principal balance of the Substitute Mortgage
Loan, each balance being determined as of the date of substitution.
Trustee: First Union National Bank, a national banking association
with its principal office located in Charlotte, North Carolina, or any successor
trustee appointed as herein provided.
Trust Estate: The corpus of the trust created by this Agreement,
consisting of the Mortgage Loans (other than any Fixed Retained Yield), such
amounts as may be held from time to time in the Certificate Account (other than
any Fixed Retained Yield), the rights of the Trustee, to receive the proceeds of
all insurance policies and performance bonds, if any, required to be maintained
hereunder or under the related Servicing Agreement and property which secured a
Mortgage Loan and which has been acquired by foreclosure or deed in lieu of
foreclosure.
Unpaid Interest Shortfalls: Each of the Class A Unpaid Interest
Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid
Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4
Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class
B-6 Unpaid Interest Shortfall.
Unscheduled Principal Amount: The sum for each outstanding Mortgage
Loan (including each defaulted Mortgage Loan, other than a Liquidated Loan, with
respect to which the related Mortgaged Property has been acquired by the Trust
Estate) of the product of (A) the Non-PO Fraction for such Mortgage Loan and (B)
the sum of the amounts described in clauses (y)(ii) and (y)(iii) of the
definition of Class A Non-PO Optimal Principal Amount.
Unscheduled Principal Receipt: Any Principal Prepayment or other
recovery of principal on a Mortgage Loan, including, without limitation,
Liquidation Proceeds, Net REO Proceeds and proceeds received from any
condemnation award or proceeds in lieu of condemnation other than that portion
of such proceeds released to the Mortgagor in accordance with the terms of the
Mortgage or Prudent Servicing Practices, but excluding any Net Liquidation
Profits and proceeds of a repurchase of a Mortgage Loan by the Seller and any
Substitution Principal Amounts. Except as set forth in the last sentence of
Section 4.02(d), a Recovery shall not be treated as an Unscheduled Principal
Receipt.
Unscheduled Principal Receipt Period: Either a Mid-Month Receipt
Period or a Prior Month Receipt Period.
U.S. Person: As defined in Section 4.01(f).
Voting Interest: With respect to any provisions hereof providing for
the action, consent or approval of the Holders of all Certificates evidencing
specified Voting Interests in the Trust Estate, the Holders of each Class of
Certificates will collectively be entitled to the then applicable percentage of
the aggregate Voting Interest represented by all Certificates equal to the ratio
obtained by dividing the Principal Balance of such Class by the sum of the Class
A Principal Balance and the Class B Principal Balance. Each Certificateholder of
a Class will have a Voting Interest equal to the product of the Voting Interest
to which such Class is collectively entitled and the Percentage Interest in such
Class represented by such Holder's Certificates. With respect to any provisions
hereof providing for action, consent or approval of each Class of Certificates
or specified Classes of Certificates, each Certificateholder of a Class will
have a Voting Interest in such Class equal to such Holder's Percentage Interest
in such Class.
Weighted Average Net Mortgage Interest Rate: As to any Distribution
Date, a rate per annum equal to the average, expressed as a percentage of the
Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage
Loans as of the Due Date in the month preceding the month of such Distribution
Date, weighted on the basis of the respective Scheduled Principal Balances of
such Mortgage Loans.
SECTION 1.02 ACTS OF HOLDERS.
(a) Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Agreement to be given or taken
by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly
appointed in writing. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the
Trustee. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Agreement and
conclusive in favor of the Trustee, if made in the manner provided in this
Section 1.02. The Trustee shall promptly notify the Master Servicer in writing
of the receipt of any such instrument or writing.
(b) The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. When such
execution is by a signer acting in a capacity other than his or her individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his or her authority. The fact and date of the execution of any such
instrument or writing, or the authority of the individual executing the same,
may also be proved in any other manner which the Trustee deems sufficient.
(c) The ownership of Certificates (whether or not such
Certificates shall be overdue and notwithstanding any notation of ownership or
other writing thereon made by anyone other than the Trustee and the
Authenticating Agent) shall be proved by the Certificate Register, and neither
the Trustee, the Seller nor the Master Servicer shall be affected by any notice
to the contrary.
(d) Any request, demand, authorization, direction, notice,
consent, waiver or other action of the Holder of any Certificate shall bind
every future Holder of the same Certificate and the Holder of every Certificate
issued upon the registration of transfer thereof or in exchange therefor or in
lieu thereof in respect of anything done, omitted or suffered to be done by the
Trustee, the Seller or the Master Servicer in reliance thereon, whether or not
notation of such action is made upon such Certificate.
SECTION 1.03 EFFECT OF HEADINGS AND TABLE OF CONTENTS.
The Article and Section headings in this Agreement and the Table of
Contents are for convenience of reference only and shall not affect the
interpretation or construction of this Agreement.
SECTION 1.04 BENEFITS OF AGREEMENT.
Nothing in this Agreement or in the Certificates, express or
implied, shall give to any Person, other than the parties to this Agreement and
their successors hereunder and the Holders of the Certificates any benefit or
any legal or equitable right, power, remedy or claim under this Agreement.
<PAGE>
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF THE CERTIFICATES
SECTION 2.01 CONVEYANCE OF MORTGAGE LOANS.
The Seller, concurrently with the execution and delivery hereof,
does hereby assign to the Trustee, without recourse all the right, title and
interest of the Seller in and to (a) the Trust Estate, including all interest
(other than the portion, if any, representing the Fixed Retained Yield) and
principal received by the Seller on or with respect to the Mortgage Loans after
the Cut-Off Date (and including scheduled payments of principal and interest due
after the Cut-Off Date but received by the Seller on or before the Cut-Off Date
and Unscheduled Principal Receipts received or applied on the Cut-Off Date, but
not including payments of principal and interest due on the Mortgage Loans on or
before the Cut-Off Date), (b) the Insurance Policies, (c) the obligations of the
Servicers under the Servicing Agreements with respect to the Mortgage Loans, (d)
all of the Seller's right, title and interest in and to each Mortgage 100SM
Pledge Agreement, each Parent Power(R) Guaranty and Security Agreement for
Securities Account and each Parent Power(R) Guaranty Agreement for Real Estate
with respect to each MLCC Additional Collateral Mortgage Loan and (f) proceeds
of all the foregoing.
In connection with such assignment, the Seller shall, with respect
to each Mortgage Loan, deliver, or cause to be delivered, to the Trustee, as
initial Custodian, on or before the Closing Date, an Owner Mortgage Loan File.
If any Mortgage or an assignment of a Mortgage to the Trustee or any prior
assignment is in the process of being recorded on the Closing Date, the Seller
shall deliver a copy thereof, certified by Norwest Mortgage or the applicable
Norwest Mortgage Correspondent to be a true and complete copy of the document
sent for recording, and the Seller shall use its best efforts to cause each such
original recorded document or certified copy thereof to be delivered to the
Trustee promptly following its recordation, but in no event later than one (1)
year following the Closing Date. If any Mortgage has been recorded in the name
of Mortgage Electronic Registration System, Inc. ("MERS") or its designee, no
assignment of Mortgage in favor of the Trustee will be required to be prepared
or delivered and instead, the Master Servicer shall take all actions as are
necessary to cause the Trust Estate to be shown as the owner of the related
Mortgage Loan on the records of MERS for the purpose of the system of recording
transfers of beneficial ownership of mortgages maintained by MERS. The Seller
shall also cause to be delivered to the Trustee any other original mortgage loan
document to be included in the Owner Mortgage Loan File if a copy thereof has
been delivered. The Seller shall pay from its own funds, without any right of
reimbursement therefor, the amount of any costs, liabilities and expenses
incurred by the Trust Estate by reason of the failure of the Seller to cause to
be delivered to the Trustee within one (1) year following the Closing Date any
original Mortgage or assignment of a Mortgage (except with respect to any
Mortgage recorded in the name of MERS) not delivered to the Trustee on the
Closing Date.
In lieu of recording an assignment of any Mortgage the Seller may,
to the extent set forth in the applicable Servicing Agreement, deliver or cause
to be delivered to the Trustee the assignment of the Mortgage Loan from the
Seller to the Trustee in a form suitable for recordation, in the states as to
which the Trustee has received an Opinion of Counsel acceptable to it that such
recording is not required to make an assignment effective against the parties to
the Mortgage or subsequent purchasers or encumbrancers of the Mortgaged
Property. In the event that the Master Servicer receives notice that recording
is required to protect the right, title and interest of the Trustee in and to
any such Mortgage Loan for which recordation of an assignment has not previously
been required, the Master Servicer shall promptly notify the Trustee and the
Trustee shall within five Business Days (or such other reasonable period of time
mutually agreed upon by the Master Servicer and the Trustee) of its receipt of
such notice deliver each previously unrecorded assignment to the related
Servicer for recordation.
SECTION 2.02 ACCEPTANCE BY TRUSTEE.
The Trustee, acknowledges receipt of the Mortgage Notes, the
Mortgages, the assignments (unless the related Mortgage has been registered in
the name of MERS or its designee) and other documents required to be delivered
on the Closing Date pursuant to Section 2.01 above and declares that it holds
and will hold such documents and the other documents constituting a part of the
Owner Mortgage Loan Files delivered to it in trust, upon the trusts herein set
forth, for the use and benefit of all present and future Certificateholders. The
Trustee agrees, for the benefit of Certificateholders, to review each Owner
Mortgage Loan File within 45 days after execution of this Agreement in order to
ascertain that all required documents set forth in Section 2.01 have been
executed and received and appear regular on their face, and that such documents
relate to the Mortgage Loans identified in the Mortgage Loan Schedule, and in so
doing the Trustee may rely on the purported due execution and genuineness of any
such document and on the purported genuineness of any signature thereon. If
within such 45 day period the Trustee finds any document constituting a part of
an Owner Mortgage Loan File not to have been executed or received or to be
unrelated to the Mortgage Loans identified in the Mortgage Loan Schedule or not
to appear regular on its face, the Trustee shall promptly (and in no event more
than 30 days after the discovery of such defect) notify the Seller, which shall
have a period of 60 days after the date of such notice within which to correct
or cure any such defect. The Seller hereby covenants and agrees that, if any
material defect is not so corrected or cured, the Seller will, not later than 60
days after the Trustee's notice to it referred to above respecting such defect,
either (i) repurchase the related Mortgage Loan or any property acquired in
respect thereof from the Trust Estate at a price equal to (a) 100% of the unpaid
principal balance of such Mortgage Loan plus (b) accrued interest at the
Mortgage Interest Rate, less any Fixed Retained Yield, through the last day of
the month in which such repurchase takes place or (ii) if within two years of
the Startup Day, or such other period permitted by the REMIC Provisions,
substitute for any Mortgage Loan to which such material defect relates, a new
mortgage loan (a "Substitute Mortgage Loan") having such characteristics so that
the representations and warranties of the Seller set forth in Section 2.03(b)
hereof (other than Section 2.03(b)(i)) would not have been incorrect had such
Substitute Mortgage Loan originally been a Mortgage Loan. In no event shall any
Substitute Mortgage Loan have an unpaid principal balance, as of the date of
substitution, greater than the Scheduled Principal Balance (reduced by the
scheduled payment of principal due on the Due Date in the month of substitution)
of the Mortgage Loan for which it is substituted. In addition, such Substitute
Mortgage Loan shall have a Loan-to-Value Ratio less than or equal to and a
Mortgage Interest Rate equal to that of the Mortgage Loan for which it is
substituted.
In the case of a repurchased Mortgage Loan or property, the purchase
price shall be deposited by the Seller in the Certificate Account maintained by
the Master Servicer pursuant to Section 3.01. In the case of a Substitute
Mortgage Loan, the Owner Mortgage Loan File relating thereto shall be delivered
to the Trustee and the Substitution Principal Amount, together with (i) interest
on such Substitution Principal Amount at the applicable Net Mortgage Interest
Rate to the following Due Date of such Mortgage Loan which is being substituted
for and (ii) an amount equal to the aggregate amount of unreimbursed Periodic
Advances in respect of interest previously made by the Servicer, the Master
Servicer or the Trustee with respect to such Mortgage Loan, shall be deposited
in the Certificate Account. The Monthly Payment on the Substitute Mortgage Loan
for the Due Date in the month of substitution shall not be part of the Trust
Estate. Upon receipt by the Trustee of written notification of any such deposit
signed by an officer of the Seller, or the new Owner Mortgage Loan File, as the
case may be, the Trustee shall release to the Seller the related Owner Mortgage
Loan File and shall execute and deliver such instrument of transfer or
assignment (or, in the case of a Mortgage Loan registered in the name of MERS or
its designee, the Master Servicer shall take all necessary action to reflect
such assignment on the records of MERS), in each case without recourse, as shall
be necessary to vest in the Seller legal and beneficial ownership of such
substituted or repurchased Mortgage Loan or property. It is understood and
agreed that the obligation of the Seller to substitute a new Mortgage Loan for
or repurchase any Mortgage Loan or property as to which such a material defect
in a constituent document exists shall constitute the sole remedy respecting
such defect available to the Certificateholders or the Trustee on behalf of the
Certificateholders. The failure of the Trustee to give any notice contemplated
herein within forty-five (45) days after the execution of this Agreement shall
not affect or relieve the Seller's obligation to repurchase any Mortgage Loan
pursuant to this Section 2.02.
The Trustee may, concurrently with the execution and delivery hereof
or at any time thereafter, enter into a Custodial Agreement substantially in the
form of Exhibit E hereto pursuant to which the Trustee appoints a Custodian to
hold the Mortgage Notes, the Mortgages, the assignments and other documents
related to the Mortgage Loans received by the Trustee, in trust for the benefit
of all present and future Certificateholders, which may provide, among other
things, that the Custodian shall conduct the review of such documents required
under the first paragraph of this Section 2.02.
SECTION 2.03 REPRESENTATIONS AND WARRANTIES OF THE MASTER
SERVICER AND THE SELLER.
(a) The Master Servicer hereby represents and warrants to the
Trustee for the benefit of Certificateholders that, as of the date of execution
of this Agreement:
(i) The Master Servicer is a national banking association duly
chartered and validly existing in good standing under the laws of the
United States;
(ii) The execution and delivery of this Agreement by the Master
Servicer and its performance and compliance with the terms of this
Agreement will not violate the Master Servicer's corporate charter or
by-laws or constitute a default (or an event which, with notice or lapse
of time, or both, would constitute a default) under, or result in the
breach of, any material contract, agreement or other instrument to which
the Master Servicer is a party or which may be applicable to the Master
Servicer or any of its assets;
(iii) This Agreement, assuming due authorization, execution and
delivery by the Trustee and the Seller, constitutes a valid, legal and
binding obligation of the Master Servicer, enforceable against it in
accordance with the terms hereof subject to applicable bankruptcy,
insolvency, reorganization, moratorium and other laws affecting the
enforcement of creditors' rights generally and to general principles of
equity, regardless of whether such enforcement is considered in a
proceeding in equity or at law;
(iv) The Master Servicer is not in default with respect to any
order or decree of any court or any order, regulation or demand of any
federal, state, municipal or governmental agency, which default might have
consequences that would materially and adversely affect the condition
(financial or other) or operations of the Master Servicer or its
properties or might have consequences that would affect its performance
hereunder; and
(v) No litigation is pending or, to the best of the Master
Servicer's knowledge, threatened against the Master Servicer which would
prohibit its entering into this Agreement or performing its obligations
under this Agreement.
It is understood and agreed that the representations and warranties
set forth in this Section 2.03(a) shall survive delivery of the respective Owner
Mortgage Loan Files to the Trustee or the Custodian.
(b) The Seller hereby represents and warrants to the Trustee for
the benefit of Certificateholders that, as of the date of execution of this
Agreement, with respect to the Mortgage Loans, or each Mortgage Loan, as the
case may be:
(i) The information set forth in the Mortgage Loan Schedule was
true and correct in all material respects at the date or dates respecting
which such information is furnished as specified in the Mortgage Loan
Schedule;
(ii) Immediately prior to the transfer and assignment
contemplated herein, the Seller was the sole owner and holder of the
Mortgage Loan free and clear of any and all liens, pledges, charges or
security interests of any nature and has full right and authority to sell
and assign the same;
(iii) The Mortgage is a valid, subsisting and enforceable first
lien on the property therein described, and the Mortgaged Property is free
and clear of all encumbrances and liens having priority over the first
lien of the Mortgage except for liens for real estate taxes and special
assessments not yet due and payable and liens or interests arising under
or as a result of any federal, state or local law, regulation or ordinance
relating to hazardous wastes or hazardous substances, and, if the related
Mortgaged Property is a condominium unit, any lien for common charges
permitted by statute or homeowners association fees; and if the Mortgaged
Property consists of shares of a cooperative housing corporation, any lien
for amounts due to the cooperative housing corporation for unpaid
assessments or charges or any lien of any assignment of rents or
maintenance expenses secured by the real property owned by the cooperative
housing corporation; and any security agreement, chattel mortgage or
equivalent document related to, and delivered to the Trustee or to the
Custodian with, any Mortgage establishes in the Seller a valid and
subsisting first lien on the property described therein and the Seller has
full right to sell and assign the same to the Trustee;
(iv) Neither the Seller nor any prior holder of the Mortgage or
the related Mortgage Note has modified the Mortgage or the related
Mortgage Note in any material respect, satisfied, canceled or subordinated
the Mortgage in whole or in part, released the Mortgaged Property in whole
or in part from the lien of the Mortgage, or executed any instrument of
release, cancellation, modification or satisfaction, except in each case
as is reflected in an agreement delivered to the Trustee or the Custodian
pursuant to Section 2.01;
(v) All taxes, governmental assessments, insurance premiums, and
water, sewer and municipal charges, which previously became due and owing
have been paid, or an escrow of funds has been established, to the extent
permitted by law, in an amount sufficient to pay for every such item which
remains unpaid; and the Seller has not advanced funds, or received any
advance of funds by a party other than the Mortgagor, directly or
indirectly (except pursuant to any Subsidy Loan arrangement) for the
payment of any amount required by the Mortgage, except for interest
accruing from the date of the Mortgage Note or date of disbursement of the
Mortgage Loan proceeds, whichever is later, to the day which precedes by
thirty days the first Due Date under the related Mortgage Note;
(vi) The Mortgaged Property is undamaged by water, fire,
earthquake, earth movement other than earthquake, windstorm, flood,
tornado or similar casualty (excluding casualty from the presence of
hazardous wastes or hazardous substances, as to which the Seller makes no
representations), so as to affect adversely the value of the Mortgaged
Property as security for the Mortgage Loan or the use for which the
premises were intended and to the best of the Seller's knowledge, there is
no proceeding pending or threatened for the total or partial condemnation
of the Mortgaged Property;
(vii) The Mortgaged Property is free and clear of all mechanics'
and materialmen's liens or liens in the nature thereof; provided, however,
that this warranty shall be deemed not to have been made at the time of
the initial issuance of the Certificates if a title policy affording, in
substance, the same protection afforded by this warranty is furnished to
the Trustee by the Seller;
(viii) Except for Mortgage Loans secured by Co-op Shares and
Mortgage Loans secured by residential long-term leases, the Mortgaged
Property consists of a fee simple estate in real property; all of the
improvements which are included for the purpose of determining the
appraised value of the Mortgaged Property lie wholly within the boundaries
and building restriction lines of such property and no improvements on
adjoining properties encroach upon the Mortgaged Property (unless insured
against under the related title insurance policy); and to the best of the
Seller's knowledge, the Mortgaged Property and all improvements thereon
comply with all requirements of any applicable zoning and subdivision laws
and ordinances;
(ix) The Mortgage Loan meets, or is exempt from, applicable state
or federal laws, regulations and other requirements, pertaining to usury,
and the Mortgage Loan is not usurious;
(x) To the best of the Seller's knowledge, all inspections,
licenses and certificates required to be made or issued with respect to
all occupied portions of the Mortgaged Property and, with respect to the
use and occupancy of the same, including, but not limited to, certificates
of occupancy and fire underwriting certificates, have been made or
obtained from the appropriate authorities;
(xi) All payments required to be made up to the Due Date
immediately preceding the Cut-Off Date for such Mortgage Loan under the
terms of the related Mortgage Note have been made and no Mortgage Loan had
more than one delinquency in the 12 months preceding the Cut-Off Date;
(xii) The Mortgage Note, the related Mortgage and other
agreements executed in connection therewith are genuine, and each is the
legal, valid and binding obligation of the maker thereof, enforceable in
accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by general equity
principles (regardless of whether such enforcement is considered in a
proceeding in equity or at law); and, to the best of the Seller's
knowledge, all parties to the Mortgage Note and the Mortgage had legal
capacity to execute the Mortgage Note and the Mortgage and each Mortgage
Note and Mortgage has been duly and properly executed by the Mortgagor;
(xiii) Any and all requirements of any federal, state or local
law with respect to the origination of the Mortgage Loans including,
without limitation, truth-in-lending, real estate settlement procedures,
consumer credit protection, equal credit opportunity or disclosure laws
applicable to the Mortgage Loans have been complied with;
(xiv) The proceeds of the Mortgage Loans have been fully
disbursed, there is no requirement for future advances thereunder and any
and all requirements as to completion of any on-site or off-site
improvements and as to disbursements of any escrow funds therefor have
been complied with (except for escrow funds for exterior items which could
not be completed due to weather and escrow funds for the completion of
swimming pools); and all costs, fees and expenses incurred in making,
closing or recording the Mortgage Loan have been paid, except recording
fees with respect to Mortgages not recorded as of the Closing Date;
(xv) The Mortgage Loan (except any Mortgage Loan secured by a
Mortgaged Property located in any jurisdiction, as to which an opinion of
counsel of the type customarily rendered in such jurisdiction in lieu of
title insurance is instead received) is covered by an American Land Title
Association mortgagee title insurance policy or other generally acceptable
form of policy or insurance acceptable to Fannie Mae or Freddie Mac,
issued by a title insurer acceptable to Fannie Mae or Freddie Mac insuring
the originator, its successors and assigns, as to the first priority lien
of the Mortgage in the original principal amount of the Mortgage Loan and
subject only to (A) the lien of current real property taxes and
assessments not yet due and payable, (B) covenants, conditions and
restrictions, rights of way, easements and other matters of public record
as of the date of recording of such Mortgage acceptable to mortgage
lending institutions in the area in which the Mortgaged Property is
located or specifically referred to in the appraisal performed in
connection with the origination of the related Mortgage Loan, (C) liens
created pursuant to any federal, state or local law, regulation or
ordinance affording liens for the costs of clean-up of hazardous
substances or hazardous wastes or for other environmental protection
purposes and (D) such other matters to which like properties are commonly
subject which do not individually, or in the aggregate, materially
interfere with the benefits of the security intended to be provided by the
Mortgage; the Seller is the sole insured of such mortgagee title insurance
policy, the assignment to the Trustee of the Seller's interest in such
mortgagee title insurance policy does not require any consent of or
notification to the insurer which has not been obtained or made, such
mortgagee title insurance policy is in full force and effect and will be
in full force and effect and inure to the benefit of the Trustee, no
claims have been made under such mortgagee title insurance policy, and no
prior holder of the related Mortgage, including the Seller, has done, by
act or omission, anything which would impair the coverage of such
mortgagee title insurance policy;
(xvi) The Mortgaged Property securing each Mortgage Loan is
insured by an insurer acceptable to Fannie Mae or Freddie Mac against loss
by fire and such hazards as are covered under a standard extended coverage
endorsement, in an amount which is not less than the lesser of 100% of the
insurable value of the Mortgaged Property and the outstanding principal
balance of the Mortgage Loan, but in no event less than the minimum amount
necessary to fully compensate for any damage or loss on a replacement cost
basis; if the Mortgaged Property is a condominium unit, it is included
under the coverage afforded by a blanket policy for the project; if upon
origination of the Mortgage Loan, the improvements on the Mortgaged
Property were in an area identified in the Federal Register by the Federal
Emergency Management Agency as having special flood hazards, a flood
insurance policy meeting the requirements of the current guidelines of the
Federal Insurance Administration is in effect with a generally acceptable
insurance carrier, in an amount representing coverage not less than the
least of (A) the outstanding principal balance of the Mortgage Loan, (B)
the full insurable value of the Mortgaged Property and (C) the maximum
amount of insurance which was available under the National Flood Insurance
Act of 1968, as amended; and each Mortgage obligates the Mortgagor
thereunder to maintain all such insurance at the Mortgagor's cost and
expense;
(xvii) To the best of the Seller's knowledge, there is no
default, breach, violation or event of acceleration existing under the
Mortgage or the related Mortgage Note and no event which, with the passage
of time or with notice and the expiration of any grace or cure period,
would constitute a default, breach, violation or event of acceleration;
the Seller has not waived any default, breach, violation or event of
acceleration; and no foreclosure action is currently threatened or has
been commenced with respect to the Mortgage Loan;
(xviii) No Mortgage Note or Mortgage is subject to any right of
rescission, set-off, counterclaim or defense, including the defense of
usury, nor will the operation of any of the terms of the Mortgage Note or
Mortgage, or the exercise of any right thereunder, render the Mortgage
Note or Mortgage unenforceable, in whole or in part, or subject it to any
right of rescission, set-off, counterclaim or defense, including the
defense of usury, and no such right of rescission, set-off, counterclaim
or defense has been asserted with respect thereto;
(xix) Each Mortgage Note is payable in monthly payments,
resulting in complete amortization of the Mortgage Loan over a term of not
more than 360 months;
(xx) Each Mortgage contains customary and enforceable provisions
such as to render the rights and remedies of the holder thereof adequate
for the realization against the Mortgaged Property of the benefits of the
security, including realization by judicial foreclosure (subject to any
limitation arising from any bankruptcy, insolvency or other law for the
relief of debtors), and there is no homestead or other exemption available
to the Mortgagor which would interfere with such right of foreclosure;
(xxi) To the best of the Seller's knowledge, no Mortgagor is a
debtor in any state or federal bankruptcy or insolvency proceeding;
(xxii) Each Mortgaged Property is located in the United States
and consists of a one- to four-unit residential property, which may
include a detached home, townhouse, condominium unit or a unit in a
planned unit development or, in the case of Mortgage Loans secured by
Co-op Shares, leases or occupancy agreements;
(xxiii) The Mortgage Loan is a "qualified mortgage" within the
meaning of Section 860G(a)(3) of the Code;
(xxiv) With respect to each Mortgage where a lost note affidavit
has been delivered to the Trustee in place of the related Mortgage Note,
the related Mortgage Note is no longer in existence;
(xxv) In the event that the Mortgagor is an inter vivos "living"
trust, (i) such trust is in compliance with Fannie Mae or Freddie Mac
standards for inter vivos trusts and (ii) holding title to the Mortgaged
Property in such trust will not diminish any rights as a creditor
including the right to full title to the Mortgaged Property in the event
foreclosure proceedings are initiated; and
(xxvi) If the Mortgage Loan is secured by a long-term residential
lease, (1) the lessor under the lease holds a fee simple interest in the
land; (2) the terms of such lease expressly permit the mortgaging of the
leasehold estate, the assignment of the lease without the lessor's consent
and the acquisition by the holder of the Mortgage of the rights of the
lessee upon foreclosure or assignment in lieu of foreclosure or provide
the holder of the Mortgage with substantially similar protections; (3) the
terms of such lease do not (a) allow the termination thereof upon the
lessee's default without the holder of the Mortgage being entitled to
receive written notice of, and opportunity to cure, such default, (b)
allow the termination of the lease in the event of damage or destruction
as long as the Mortgage is in existence, (c) prohibit the holder of the
Mortgage from being insured (or receiving proceeds of insurance) under the
hazard insurance policy or policies relating to the Mortgaged Property or
(d) permit any increase in rent other than pre-established increases set
forth in the lease; (4) the original term of such lease is not less than
15 years; (5) the term of such lease does not terminate earlier than five
years after the maturity date of the Mortgage Note; and (6) the Mortgaged
Property is located in a jurisdiction in which the use of leasehold
estates in transferring ownership in residential properties is a widely
accepted practice.
Notwithstanding the foregoing, no representations or warranties are
made by the Seller as to the environmental condition of any Mortgaged Property;
the absence, presence or effect of hazardous wastes or hazardous substances on
any Mortgaged Property; any casualty resulting from the presence or effect of
hazardous wastes or hazardous substances on, near or emanating from any
Mortgaged Property; the impact on Certificateholders of any environmental
condition or presence of any hazardous substance on or near any Mortgaged
Property; or the compliance of any Mortgaged Property with any environmental
laws, nor is any agent, person or entity otherwise affiliated with the Seller
authorized or able to make any such representation, warranty or assumption of
liability relative to any Mortgaged Property. In addition, no representations or
warranties are made by the Seller with respect to the absence or effect of fraud
in the origination of any Mortgage Loan.
It is understood and agreed that the representations and warranties
set forth in this Section 2.03(b) shall survive delivery of the respective Owner
Mortgage Loan Files to the Trustee and shall inure to the benefit of the Trustee
notwithstanding any restrictive or qualified endorsement or assignment.
(c) Upon discovery by either the Seller, the Master Servicer, the
Trustee or the Custodian that any of the representations and warranties made in
subsection (b) above is not accurate (referred to herein as a "breach") and,
except for a breach of the representation and warranty set forth in subsection
(b)(i), where such breach is a result of the Cut-Off Date Principal Balance of a
Mortgage Loan being greater, by $5,000 or greater, than the Cut-Off Date
Principal Balance of such Mortgage Loan indicated on the Mortgage Loan Schedule,
that such breach materially and adversely affects the interests of the
Certificateholders in the related Mortgage Loan, the party discovering such
breach shall give prompt written notice to the other parties (any Custodian
being so obligated under a Custodial Agreement). Within 60 days of the earlier
of its discovery or its receipt of notice of any such breach, the Seller shall
cure such breach in all material respects or shall either (i) repurchase the
Mortgage Loan or any property acquired in respect thereof from the Trust Estate
at a price equal to (A) 100% of the unpaid principal balance of such Mortgage
Loan plus (B) accrued interest at the Net Mortgage Interest Rate for such
Mortgage Loan through the last day of the month in which such repurchase took
place or (ii) if within two years of the Startup Day, or such other period
permitted by the REMIC Provisions, substitute for such Mortgage Loan in the
manner described in Section 2.02. The purchase price of any repurchase described
in this paragraph and the Substitution Principal Amount, if any, plus accrued
interest thereon and the other amounts referred to in Section 2.02, shall be
deposited in the Certificate Account. It is understood and agreed that the
obligation of the Seller to repurchase or substitute for any Mortgage Loan or
property as to which such a breach has occurred and is continuing shall
constitute the sole remedy respecting such breach available to
Certificateholders or the Trustee on behalf of Certificateholders, and such
obligation shall survive until termination of the Trust Estate hereunder.
SECTION 2.04 EXECUTION AND DELIVERY OF CERTIFICATES.
The Trustee acknowledges the assignment to it of the Mortgage Loans
and the delivery of the Owner Mortgage Loan Files to it, and, concurrently with
such delivery, has executed and delivered to or upon the order of the Seller, in
exchange for the Mortgage Loans together with all other assets included in the
definition of "Trust Estate," receipt of which is hereby acknowledged,
Certificates in authorized denominations which evidence ownership of the entire
Trust Estate.
SECTION 2.05 DESIGNATION OF CERTIFICATES; DESIGNATION OF
STARTUP DAY AND LATEST POSSIBLE MATURITY DATE.
The Seller hereby designates the Classes of Class A Certificates
(other than the Class A-R Certificate) and the Classes of Class B Certificates
as classes of "regular interests" and the Class A-R Certificate as the single
class of "residual interest" in the REMIC for the purposes of Code Sections
860G(a)(1) and 860G(a)(2), respectively. The Closing Date is hereby designated
as the "Startup Day" of the REMIC within the meaning of Code Section 860G(a)(9).
The "latest possible maturity date" of the regular interests in the REMIC is
April 25, 2030 for purposes of Code Section 860G(a)(1).
<PAGE>
ARTICLE III
ADMINISTRATION OF THE TRUST ESTATE: SERVICING
OF THE MORTGAGE LOANS
SECTION 3.01 CERTIFICATE ACCOUNT.
(a) The Master Servicer shall establish and maintain a Certificate
Account for the deposit of funds received by the Master Servicer with respect to
the Mortgage Loans serviced by each Servicer pursuant to each of the Servicing
Agreements. Such account shall be maintained as an Eligible Account. The Master
Servicer shall give notice to each Servicer and the Seller of the location of
the Certificate Account and of any change in the location thereof.
(b) The Master Servicer shall deposit into the Certificate Account
on the day of receipt thereof all amounts received by it from any Servicer
pursuant to any of the Servicing Agreements, any amounts received by it upon the
sale of any MLCC Additional Collateral pursuant to the terms of the Mortgage
100SM Pledge Agreement, the Parent Power(R) Guaranty and Security Agreement for
Securities Account or the Parent Power(R) Guaranty Agreement for Real Estate,
and shall, in addition, deposit into the Certificate Account the following
amounts, in the case of amounts specified in clause (i), not later than the
Distribution Date on which such amounts are required to be distributed to
Certificateholders and, in the case of the amounts specified in clause (ii), not
later than the Business Day next following the day of receipt and posting by the
Master Servicer:
(i) Periodic Advances pursuant to Section 3.03(a) made by the
Master Servicer or the Trustee, if any and any amounts deemed received by
the Master Servicer pursuant to Section 3.01(d); and
(ii) in the case of any Mortgage Loan that is repurchased by the
Seller pursuant to Section 2.02 or 2.03 or that is auctioned by the Master
Servicer pursuant to Section 3.08 or purchased by the Master Servicer
pursuant to Section 3.08 or 9.01, the purchase price therefor or, where
applicable, any Substitution Principal Amount and any amounts received in
respect of the interest portion of unreimbursed Periodic Advances.
(c) The Master Servicer shall cause the funds in the Certificate
Account to be invested in Eligible Investments. No such Eligible Investments
will be sold or disposed of at a gain prior to maturity unless the Master
Servicer has received an Opinion of Counsel or other evidence satisfactory to it
that such sale or disposition will not cause the Trust Estate to be subject to
Prohibited Transactions Tax, otherwise subject the Trust Estate to tax, or cause
the Trust Estate to fail to qualify as a REMIC while any Certificates are
outstanding. Any amounts deposited in the Certificate Account prior to the
Distribution Date shall be invested for the account of the Master Servicer and
any investment income thereon shall be additional compensation to the Master
Servicer for services rendered under this Agreement. The amount of any losses
incurred in respect of any such investments shall be deposited in the
Certificate Account by the Master Servicer out of its own funds immediately as
realized.
(d) For purposes of this Agreement, the Master Servicer will be
deemed to have received from a Servicer on the applicable Remittance Date for
such funds all amounts deposited by such Servicer into the Custodial Account for
P&I maintained in accordance with the applicable Servicing Agreement, if such
Custodial Account for P&I is not an Eligible Account as defined in this
Agreement, to the extent such amounts are not actually received by the Master
Servicer on such Remittance Date as a result of the bankruptcy, insolvency,
receivership or other financial distress of the depository institution in which
such Custodial Account for P&I is being held. To the extent that amounts so
deemed to have been received by the Master Servicer are subsequently remitted to
the Master Servicer, the Master Servicer shall be entitled to retain such
amounts.
SECTION 3.02 PERMITTED WITHDRAWALS FROM THE CERTIFICATE
ACCOUNT.
(a) The Master Servicer may, from time to time, make withdrawals
from the Certificate Account for the following purposes (limited, in the case of
Servicer reimbursements, to cases where funds in the respective Custodial P&I
Account are not sufficient therefor):
(i) to reimburse the Master Servicer, the Trustee or any Servicer
for Periodic Advances made by the Master Servicer or the Trustee pursuant
to Section 3.03(a) or any Servicer pursuant to any Servicing Agreement
with respect to previous Distribution Dates, such right to reimbursement
pursuant to this subclause (i) being limited to amounts received on or in
respect of particular Mortgage Loans (including, for this purpose,
Liquidation Proceeds, REO Proceeds and proceeds from the purchase, sale,
repurchase or substitution of Mortgage Loans pursuant to Sections 2.02,
2.03, 3.08 or 9.01) respecting which any such Periodic Advance was made;
(ii) to reimburse any Servicer, the Master Servicer or the
Trustee for any Periodic Advances determined in good faith to have become
Nonrecoverable Advances provided, however, that any portion of
Nonrecoverable Advances representing Fixed Retained Yield shall be
reimbursable only from amounts constituting Fixed Retained Yield and not
from the assets of the Trust Estate;
(iii) to reimburse the Master Servicer or any Servicer from
Liquidation Proceeds for Liquidation Expenses and for amounts expended by
the Master Servicer or any Servicer pursuant hereto or to any Servicing
Agreement, respectively, in good faith in connection with the restoration
of damaged property or for foreclosure expenses;
(iv) from any Mortgagor payment on account of interest or other
recovery (including Net REO Proceeds) with respect to a particular
Mortgage Loan, to pay the Master Servicing Fee with respect to such
Mortgage Loan to the Master Servicer;
(v) to reimburse the Master Servicer, any Servicer or the Trustee
(or, in certain cases, the Seller) for expenses incurred by it (including
taxes paid on behalf of the Trust Estate) and recoverable by or
reimbursable to it pursuant to Section 3.03(c), 3.03(d) or 6.03 or the
second sentence of Section 8.14(a) or pursuant to such Servicer's
Servicing Agreement, provided such expenses are "unanticipated" within the
meaning of the REMIC Provisions;
(vi) to pay to the Seller or other purchaser with respect to each
Mortgage Loan or property acquired in respect thereof that has been
repurchased or replaced pursuant to Section 2.02 or 2.03 or auctioned
pursuant to Section 3.08 or to pay to the Master Servicer with respect to
each Mortgage Loan or property acquired in respect thereof that has been
purchased pursuant to Section 3.08 or 9.01, all amounts received thereon
and not required to be distributed as of the date on which the related
repurchase or purchase price or Scheduled Principal Balance was
determined;
(vii) to remit funds to the Paying Agent in the amounts and in
the manner provided for herein;
(viii) to pay to the Master Servicer any interest earned on or
investment income with respect to funds in the Certificate Account;
(ix) to pay to the Master Servicer or any Servicer out of
Liquidation Proceeds allocable to interest the amount of any unpaid Master
Servicing Fee or Servicing Fee (as adjusted pursuant to the related
Servicing Agreement) and any unpaid assumption fees, late payment charges
or other Mortgagor charges on the related Mortgage Loan;
(x) to withdraw from the Certificate Account any amount deposited
in the Certificate Account that was not required to be deposited therein;
(xi) to clear and terminate the Certificate Account pursuant to
Section 9.01; and
(xii) to pay to Norwest Mortgage from any Mortgagor payment on
account of interest or other recovery (including Net REO Proceeds) with
respect to a particular Mortgage Loan, the Fixed Retained Yield, if any,
with respect to such Mortgage Loan; provided, however, that with respect
to any payment of interest received by the Master Servicer in respect of a
Mortgage Loan (whether paid by the Mortgagor or received as Liquidation
Proceeds, Insurance Proceeds or otherwise) which is less than the full
amount of interest then due with respect to such Mortgage Loan, only that
portion of such payment of interest that bears the same relationship to
the total amount of such payment of interest as the Fixed Retained Yield
Rate, if any, in respect of such Mortgage Loan bears to the Mortgage
Interest Rate shall be allocated to the Fixed Retained Yield with respect
thereto.
(b) The Master Servicer shall keep and maintain separate
accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of
justifying any payment to and withdrawal from the Certificate Account.
SECTION 3.03 ADVANCES BY MASTER SERVICER AND TRUSTEE.
(a) In the event an Other Servicer fails to make any required
Periodic Advances of principal and interest on a Mortgage Loan as required by
the related Other Servicing Agreement prior to the Distribution Date occurring
in the month during which such Periodic Advance is due, the Master Servicer
shall make Periodic Advances to the extent provided hereby. In addition, if
under the terms of an Other Servicing Agreement, the applicable Servicer is not
required to make Periodic Advances on a Mortgage Loan or REO Mortgage Loan
through the liquidation of such Mortgage Loan or REO Mortgage Loan, the Master
Servicer to the extent provided hereby shall make the Periodic Advances thereon
during the period the Servicer is not obligated to do so. In the event Norwest
Mortgage fails to make any required Periodic Advances of principal and interest
on a Mortgage Loan as required by the Norwest Servicing Agreement prior to the
Distribution Date occurring in the month during which such Periodic Advance is
due, the Trustee shall, to the extent required by Section 8.15, make such
Periodic Advance to the extent provided hereby, provided that the Trustee has
previously received the certificate of the Master Servicer described in the
following sentence. The Master Servicer shall certify to the Trustee with
respect to any such Distribution Date (i) the amount of Periodic Advances
required of Norwest Mortgage or such Other Servicer, as the case may be, (ii)
the amount actually advanced by Norwest Mortgage or such Other Servicer, (iii)
the amount that the Trustee or Master Servicer is required to advance hereunder,
including any amount the Master Servicer is required to advance pursuant to the
second sentence of this Section 3.03(a) and (iv) whether the Master Servicer has
determined that it reasonably believes that such Periodic Advance is a
Nonrecoverable Advance. Amounts advanced by the Trustee or Master Servicer shall
be deposited in the Certificate Account on the related Distribution Date.
Notwithstanding the foregoing, neither the Master Servicer nor the Trustee will
be obligated to make a Periodic Advance that it reasonably believes to be a
Nonrecoverable Advance. The Trustee may conclusively rely for any determination
to be made by it hereunder upon the determination of the Master Servicer as set
forth in its certificate.
(b) To the extent an Other Servicer fails to make an advance on
account of the taxes or insurance premiums with respect to a Mortgage Loan
required pursuant to the related Other Servicing Agreement, the Master Servicer
shall, if the Master Servicer knows of such failure of the Servicer, advance
such funds and take such steps as are necessary to pay such taxes or insurance
premiums. To the extent Norwest Mortgage fails to make an advance on account of
the taxes or insurance premiums with respect to a Mortgage Loan required
pursuant to the Norwest Servicing Agreement, the Master Servicer shall, if the
Master Servicer knows of such failure of Norwest Mortgage, certify to the
Trustee that such failure has occurred. Upon receipt of such certification, the
Trustee shall advance such funds and take such steps as are necessary to pay
such taxes or insurance premiums.
(c) The Master Servicer and the Trustee shall each be entitled to
be reimbursed from the Certificate Account for any Periodic Advance made by it
under Section 3.03(a) to the extent described in Section 3.02(a)(i) and (ii).
The Master Servicer and the Trustee shall be entitled to be reimbursed pursuant
to Section 3.02(a)(v) for any advance by it pursuant to Section 3.03(b). The
Master Servicer shall diligently pursue restoration of such amount to the
Certificate Account from the related Servicer. The Master Servicer shall, to the
extent it has not already done so, upon the request of the Trustee, withdraw
from the Certificate Account and remit to the Trustee any amounts to which the
Trustee is entitled as reimbursement pursuant to Section 3.02 (a)(i), (ii) and
(v).
(d) Except as provided in Section 3.03(a) and (b), neither the
Master Servicer nor the Trustee shall be required to pay or advance any amount
which any Servicer was required, but failed, to deposit in the Certificate
Account.
SECTION 3.04 TRUSTEE TO COOPERATE; RELEASE OF OWNER MORTGAGE
LOAN FILES.
Upon the receipt by the Master Servicer of a Request for Release in
connection with the deposit by a Servicer into the Certificate Account of the
proceeds from a Liquidated Loan or of a Prepayment in Full, the Master Servicer
shall confirm to the Trustee that all amounts required to be remitted to the
Certificate Account in connection with such Mortgage Loan have been so
deposited, and shall deliver such Request for Release to the Trustee. The
Trustee shall, within five Business Days of its receipt of such a Request for
Release, release the related Owner Mortgage Loan File to the Master Servicer or
such Servicer, as requested by the Master Servicer. No expenses incurred in
connection with any instrument of satisfaction or deed of reconveyance shall be
chargeable to the Certificate Account.
From time to time and as appropriate for the servicing or
foreclosure of any Mortgage Loan, including but not limited to, collection under
any insurance policies, or to effect a partial release of any Mortgaged Property
from the lien of the Mortgage, the Servicer of such Mortgage Loan shall deliver
to the Master Servicer a Request for Release. Upon the Master Servicer's receipt
of any such Request for Release, the Master Servicer shall promptly forward such
request to the Trustee and the Trustee shall, within five Business Days, release
the related Owner Mortgage Loan File to the Master Servicer or such Servicer, as
requested by the Master Servicer. Any such Request for Release shall obligate
the Master Servicer or such Servicer, as the case may be, to return each and
every document previously requested from the Owner Mortgage Loan File to the
Trustee by the twenty-first day following the release thereof, unless (i) the
Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the
Mortgage Loan have been deposited in the Certificate Account or (ii) the Owner
Mortgage Loan File or such document has been delivered to an attorney, or to a
public trustee or other public official as required by law, for purposes of
initiating or pursuing legal action or other proceedings for the foreclosure of
the Mortgaged Property either judicially or non-judicially, and the Master
Servicer has delivered to the Trustee a certificate of the Master Servicer or
such Servicer certifying as to the name and address of the Person to which such
Owner Mortgage Loan File or such document was delivered and the purpose or
purposes of such delivery. Upon receipt of an Officer's Certificate of the
Master Servicer or such Servicer stating that such Mortgage Loan was liquidated
and that all amounts received or to be received in connection with such
liquidation which are required to be deposited into the Certificate Account have
been so deposited, or that such Mortgage Loan has become an REO Mortgage Loan,
the Request for Release shall be released by the Trustee to the Master Servicer
or such Servicer, as appropriate.
Upon written certification of the Master Servicer or the Servicer of
a Mortgage Loan, the Trustee shall execute and deliver to the Master Servicer or
such Servicer, as directed by the Master Servicer, court pleadings, requests for
trustee's sale or other documents necessary to the foreclosure or trustee's sale
in respect of a Mortgaged Property or to any legal action brought to obtain
judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a
deficiency judgment, or to enforce any other remedies or rights provided by the
Mortgage Note or Mortgage or otherwise available at law or in equity. Each such
certification shall include a request that such pleadings or documents be
executed by the Trustee and a statement as to the reason such documents or
pleadings are required and that the execution and delivery thereof by the
Trustee will not invalidate or otherwise affect the lien of the Mortgage, except
for the termination of such a lien upon completion of the foreclosure proceeding
or trustee's sale.
SECTION 3.05 REPORTS TO THE TRUSTEE; ANNUAL COMPLIANCE
STATEMENTS.
(a) Not later than 15 days after each Distribution Date, the
Master Servicer shall deliver to the Trustee a statement setting forth the
status of the Certificate Account as of the close of business on such
Distribution Date stating that all distributions required to be made by the
Master Servicer under this Agreement have been made (or, if any required
distribution has not been made by the Master Servicer, specifying the nature and
status thereof) and showing, for the period covered by such statement, the
aggregate amount of deposits into and withdrawals from such account for each
category of deposit and withdrawal specified in Sections 3.01 and 3.02. Such
statement may be in the form of the then current Fannie Mae monthly accounting
report for its Guaranteed Mortgage Pass-Through Program with appropriate
additions and changes, and shall also include information as to the aggregate
unpaid principal balance of all of the Mortgage Loans as of the close of
business as of the last day of the calendar month immediately preceding such
Distribution Date. Copies of such statement shall be provided by the Trustee to
any Certificateholder upon written request, provided such statement is
delivered, or caused to be delivered, by the Master Servicer to the Trustee.
(b) The Master Servicer shall deliver to the Trustee on or before
April 30 of each year, a certificate signed by an officer of the Master
Servicer, certifying that (i) such officer has reviewed the activities of the
Master Servicer during the preceding calendar year or portion thereof and its
performance under this agreement and (ii) to the best of such officer's
knowledge, based on such review, the Master Servicer has performed and fulfilled
its duties, responsibilities and obligations under this agreement in all
material respects throughout such year, or, if there has been a default in the
fulfillment of any such duties, responsibilities or obligations, specifying each
such default known to such officer and the nature and status thereof, and, (iii)
(A) the Master Servicer has received from each Servicer any financial
statements, officer's certificates, accountant's statements or other information
required to be provided to the Master Servicer pursuant to the related Servicing
Agreement and (B) to the best of such officer's knowledge, based on a review of
the information provided to the Master Servicer by each Servicer as described in
(iii)(A) above, each Servicer has performed and fulfilled its duties,
responsibilities and obligations under the related Servicing Agreement in all
material respects throughout such year, or, if there has been a default in the
fulfillment of any such duties, responsibilities or obligations, specifying each
such default known to such officer and the nature and status thereof. Copies of
such officers' certificate shall be provided by the Trustee to any
Certificateholder upon written request provided such certificate is delivered,
or caused to be delivered, by the Master Servicer to the Trustee.
SECTION 3.06 TITLE, MANAGEMENT AND DISPOSITION OF ANY REO
MORTGAGE LOAN.
The Master Servicer shall ensure that each REO Mortgage Loan is
administered by the related Servicer at all times so that it qualifies as
"foreclosure property" under the REMIC Provisions and that it does not earn any
"net income from foreclosure property" which is subject to tax under the REMIC
Provisions. In the event that a Servicer is unable to dispose of any REO
Mortgage Loan within the period mandated by each of the Servicing Agreements,
the Master Servicer shall monitor such Servicer to verify that such REO Mortgage
Loan is auctioned to the highest bidder within the period so specified. In the
event of any such sale of a REO Mortgage Loan, the Trustee shall, at the written
request of the Master Servicer and upon being supported with appropriate forms
therefor, within five Business Days of the deposit by the Master Servicer of the
proceeds of such sale or auction into the Certificate Account, release or cause
to be released to the entity identified by the Master Servicer the related Owner
Mortgage Loan File and Servicer Mortgage Loan File and shall execute and deliver
such instruments of transfer or assignment, in each case without recourse, as
shall be necessary to vest in the auction purchaser title to the REO Mortgage
Loan and the Trustee shall have no further responsibility with regard to such
Owner Mortgage Loan File or Servicer Mortgage Loan File. Neither the Trustee,
the Master Servicer nor any Servicer, acting on behalf of the Trust Estate,
shall provide financing from the Trust Estate to any purchaser of an REO
Mortgage Loan.
SECTION 3.07 AMENDMENTS TO SERVICING AGREEMENTS, MODIFICATION
OF STANDARD PROVISIONS.
(a) Subject to the prior written consent of the Trustee pursuant
to Section 3.07(b), the Master Servicer from time to time may, to the extent
permitted by the applicable Servicing Agreement, make such modifications and
amendments to such Servicing Agreement as the Master Servicer deems necessary or
appropriate to confirm or carry out more fully the intent and purpose of such
Servicing Agreement and the duties, responsibilities and obligations to be
performed by the Servicer thereunder. Such modifications may only be made if
they are consistent with the REMIC Provisions, as evidenced by an Opinion of
Counsel. Prior to the issuance of any modification or amendment, the Master
Servicer shall deliver to the Trustee such Opinion of Counsel and an Officer's
Certificate setting forth (i) the provision that is to be modified or amended,
(ii) the modification or amendment that the Master Servicer desires to issue and
(iii) the reason or reasons for such proposed amendment or modification.
(b) The Trustee shall consent to any amendment or supplement to a
Servicing Agreement proposed by the Master Servicer pursuant to Section 3.07(a),
which consent and amendment shall not require the consent of any
Certificateholder if it is (i) for the purpose of curing any mistake or
ambiguity or to further effect or protect the rights of the Certificateholders
or (ii) for any other purpose, provided such amendment or supplement for such
other purpose cannot reasonably be expected to adversely affect
Certificateholders. The lack of reasonable expectation of an adverse effect on
Certificateholders may be established through the delivery to the Trustee of (i)
an Opinion of Counsel to such effect or (ii) written notification from each
Rating Agency to the effect that such amendment or supplement will not result in
reduction of the current rating assigned by that Rating Agency to the
Certificates. Notwithstanding the two immediately preceding sentences, the
Trustee may, in its discretion, decline to enter into or consent to any such
supplement or amendment if its own rights, duties or immunities shall be
adversely affected.
(c) (i) Notwithstanding anything to the contrary in this Section
3.07, the Master Servicer from time to time may, without the consent of
any Certificateholder, or the Trustee, enter into an amendment (A) to an
Other Servicing Agreement for the purpose of (i) eliminating or reducing
Month End Interest and (ii) providing for the remittance of Full
Unscheduled Principal Receipts by the applicable Servicer to the Master
Servicer not later than the 24th day of each month (or if such day is not
a Business Day, on the previous Business Day) or (B) to the Norwest
Servicing Agreement for the purpose of changing the applicable Remittance
Date to the 18th day of each month (or if such day is not a Business Day,
on the previous Business Day).
(ii) The Master Servicer may direct Norwest Mortgage to enter
into an amendment to the Norwest Servicing Agreement for the purposes
described in Sections 3.07(c)(i)(B) and 10.01(b)(iii).
SECTION 3.08 OVERSIGHT OF SERVICING.
The Master Servicer shall supervise, monitor and oversee the
servicing of the Mortgage Loans by each Servicer and the performance by each
Servicer of all services, duties, responsibilities and obligations (including
the obligation to maintain an Errors and Omissions Policy and Fidelity Bond)
that are to be observed or performed by the Servicer under its respective
Servicing Agreement. In performing its obligations hereunder, the Master
Servicer shall act in a manner consistent with Accepted Master Servicing
Practices and with the Trustee's and the Certificateholders' reliance on the
Master Servicer, and in a manner consistent with the terms and provisions of any
insurance policy required to be maintained by the Master Servicer or any
Servicer pursuant to this Agreement or any Servicing Agreement. The Master
Servicer acknowledges that prior to taking certain actions required to service
the Mortgage Loans, each Servicing Agreement provides that the Servicer
thereunder must notify, consult with, obtain the consent of or otherwise follow
the instructions of the Master Servicer. The Master Servicer is also given
authority to waive compliance by a Servicer with certain provisions of its
Servicing Agreement. In each such instance, the Master Servicer shall promptly
instruct such Servicer or otherwise respond to such Servicer's request. In no
event will the Master Servicer instruct such Servicer to take any action, give
any consent to action by such Servicer or waive compliance by such Servicer with
any provision of such Servicer's Servicing Agreement if any resulting action or
failure to act would be inconsistent with the requirements of the Rating
Agencies that rated the Certificates or would otherwise have an adverse effect
on the Certificateholders. Any such action or failure to act shall be deemed to
have an adverse effect on the Certificateholders if such action or failure to
act either results in (i) the downgrading of the rating assigned by any Rating
Agency to the Certificates, (ii) the loss by the Trust Estate of REMIC status
for federal income tax purposes or (iii) the imposition of any Prohibited
Transaction Tax or any federal taxes on the REMIC or the Trust Estate. The
Master Servicer shall have full power and authority in its sole discretion to
take any action with respect to the Trust Estate as may be necessary or
advisable to avoid the circumstances specified including clause (ii) or (iii) of
the preceding sentence.
For the purposes of determining whether any modification of a
Mortgage Loan shall be permitted by the Trustee or the Master Servicer, such
modification shall be construed as a substitution of the modified Mortgage Loan
for the Mortgage Loan originally deposited in the Trust Estate if it would be a
"significant modification" within the meaning of Section 1.860G-2(b) of the
regulations of the U.S. Department of the Treasury. No modification shall be
approved unless (i) the modified Mortgage Loan would qualify as a Substitute
Mortgage Loan under Section 2.02 and (ii) with respect to any modification that
occurs more than three months after the Closing Date and is not the result of a
default or a reasonably foreseeable default under the Mortgage Loan, there is
delivered to the Trustee an Opinion of Counsel (at the expense of the party
seeking to modify the Mortgage Loan) to the effect that such modification would
not be treated as giving rise to a new debt instrument for federal income tax
purposes as described in the preceding sentence.
During the term of this Agreement, the Master Servicer shall consult
fully with each Servicer as may be necessary from time to time to perform and
carry out the Master Servicer's obligations hereunder and otherwise exercise
reasonable efforts to encourage such Servicer to perform and observe the
covenants, obligations and conditions to be performed or observed by it under
its Servicing Agreement.
The relationship of the Master Servicer to the Trustee under this
Agreement is intended by the parties to be that of an independent contractor and
not that of a joint venturer, partner or agent.
The Master Servicer shall administer the Trust Estate on behalf of
the Trustee and shall have full power and authority, acting alone or (subject to
Section 6.06) through one or more subcontractors, to do any and all things in
connection with such administration which it may deem necessary or desirable.
Upon the execution and delivery of this Agreement, and from time to time as may
be required thereafter, the Trustee shall furnish the Master Servicer or its
subcontractors with any powers of attorney and such other documents as may be
necessary or appropriate to enable the Master Servicer to carry out its
administrative duties hereunder.
The Seller shall be entitled to repurchase at its option (i) any
defaulted Mortgage Loan or any Mortgage Loan as to which default is reasonably
foreseeable from the Trust Estate if, in the Seller's judgment, the default is
not likely to be cured by the Mortgagor or (ii) any Mortgage Loan in the Trust
Estate which, pursuant to paragraph 5(b) of the Mortgage Loan Purchase
Agreement, Norwest Mortgage requests the Seller to repurchase and to sell to
Norwest Mortgage to facilitate the exercise of Norwest Mortgage's rights against
the originator or a prior holder of such Mortgage Loan. The purchase price for
any such Mortgage Loan shall be 100% of the unpaid principal balance of such
Mortgage Loan plus accrued interest thereon at the Mortgage Interest Rate for
such Mortgage Loan, through the last day of the month in which such repurchase
occurs. Upon the receipt of such purchase price, the Master Servicer shall
provide to the Trustee the certification required by Section 3.04 and the
Trustee and the Custodian, if any, shall promptly release to the Seller the
Owner Mortgage Loan File relating to the Mortgage Loan being repurchased.
In the event that (i) the Master Servicer determines at any time
that, notwithstanding the representations and warranties set forth in Section
2.03(b), any Mortgage Loan is not a "qualified mortgage" within the meaning of
Section 860G of the Code and (ii) the Master Servicer is unable to enforce the
obligation of the Seller to purchase such Mortgage Loan pursuant to Section 2.02
within two months of such determination, the Master Servicer shall cause such
Mortgage Loan to be auctioned to the highest bidder and sold out of the Trust
Estate no later than the date 90 days after such determination. In the event of
any such sale of a Mortgage Loan, the Trustee shall, at the written request of
the Master Servicer and upon being supported with appropriate forms therefor,
within five Business Days of the deposit by the Master Servicer of the proceeds
of such auction into the Certificate Account, release or cause to be released to
the entity identified by the Master Servicer the related Owner Mortgage Loan
File and Servicer Mortgage Loan File and shall execute and deliver such
instruments of transfer or assignment, in each case without recourse, as shall
be necessary to vest in the auction purchaser title to the Mortgage Loan and the
Trustee shall have no further responsibility with regard to such Owner Mortgage
Loan File or Servicer Mortgage Loan File. Neither the Trustee, the Master
Servicer nor any Servicer, acting on behalf of the Trustee, shall provide
financing from the Trust Estate to any purchaser of a Mortgage Loan.
The Master Servicer, on behalf of the Trustee, shall, pursuant to
the Servicing Agreements, object to the foreclosure upon, or other related
conversion of the ownership of, any Mortgaged Property by the related Servicer
if (i) the Master Servicer believes such Mortgaged Property may be contaminated
with or affected by hazardous wastes or hazardous substances or (ii) such
Servicer does not agree to administer such Mortgaged Property, once the related
Mortgage Loan becomes an REO Mortgage Loan, in a manner which would not result
in a federal tax being imposed upon the Trust Estate or the REMIC.
MLCC Additional Collateral may be liquidated and the proceeds
applied to cover any shortfalls upon the liquidation of a Mortgaged Property;
provided, however, that the Trust Estate in no event shall acquire ownership of
the MLCC Additional Collateral unless the Trustee shall have received an Opinion
of Counsel that such ownership shall not cause the Trust Estate to fail to
qualify as a REMIC or subject the REMIC to any tax.
The Master Servicer may enter into a special servicing agreement
with an unaffiliated holder of 100% Percentage Interest of a Class of Class B
Certificates or a holder of a class of securities representing interests in the
Class B Certificates and/or other subordinated mortgage pass-through
certificates, such agreement to be substantially in the form of Exhibit M hereto
or subject to each Rating Agency's acknowledgment that the ratings of the
Certificates in effect immediately prior to the entering into of such agreement
would not be qualified, downgraded or withdrawn and the Certificates would not
be placed on credit review status (except for possible upgrading) as a result of
such agreement. Any such agreement may contain provisions whereby such holder
may instruct the Master Servicer to instruct a Servicer to the extent provided
in the applicable Servicing Agreement to commence or delay foreclosure
proceedings with respect to delinquent Mortgage Loans and will contain
provisions for the deposit of cash by the holder that would be available for
distribution to Certificateholders if Liquidation Proceeds are less than they
otherwise may have been had the Servicer acted in accordance with its normal
procedures.
SECTION 3.09 TERMINATION AND SUBSTITUTION OF SERVICING
AGREEMENTS.
Upon the occurrence of any event for which a Servicer may be
terminated pursuant to its Servicing Agreement, the Master Servicer shall
promptly deliver to the Seller and the Trustee an Officer's Certificate
certifying that an event has occurred which may justify termination of such
Servicing Agreement, describing the circumstances surrounding such event and
recommending what action should be taken by the Trustee with respect to such
Servicer. If the Master Servicer recommends that such Servicing Agreement be
terminated, the Master Servicer's certification must state that the breach is
material and not merely technical in nature. Upon written direction of the
Master Servicer, based upon such certification, the Trustee shall promptly
terminate such Servicing Agreement. Notwithstanding the foregoing, in the event
that (i) Norwest Mortgage fails to make any advance, as a consequence of which
the Trustee is obligated to make an advance pursuant to Section 3.03 and (ii)
the Trustee provides Norwest Mortgage written notice of the failure to make such
advance and such failure shall continue unremedied for a period of 15 days after
receipt of such notice, the Trustee shall terminate the Norwest Servicing
Agreement without the recommendation of the Master Servicer. The Master Servicer
shall indemnify the Trustee and hold it harmless from and against any and all
claims, liabilities, costs and expenses (including, without limitation,
reasonable attorneys' fees) arising out of, or assessed against the Trustee in
connection with termination of such Servicing Agreement at the direction of the
Master Servicer. If the Trustee terminates such Servicing Agreement, the Trustee
may enter into a substitute Servicing Agreement with the Master Servicer or, at
the Master Servicer's nomination, with another mortgage loan service company
acceptable to the Trustee, the Master Servicer and each Rating Agency under
which the Master Servicer or such substitute servicer, as the case may be, shall
assume, satisfy, perform and carry out all liabilities, duties, responsibilities
and obligations that are to be, or otherwise were to have been, satisfied,
performed and carried out by such Servicer under such terminated Servicing
Agreement. Until such time as the Trustee enters into a substitute servicing
agreement with respect to the Mortgage Loans previously serviced by such
Servicer, the Master Servicer shall assume, satisfy, perform and carry out all
obligations which otherwise were to have been satisfied, performed and carried
out by such Servicer under its terminated Servicing Agreement. However, in no
event shall the Master Servicer be deemed to have assumed the obligations of a
Servicer to advance payments of principal and interest on a delinquent Mortgage
Loan in excess of the Master Servicer's independent Periodic Advance obligation
under Section 3.03 of this Agreement. As compensation for the Master Servicer of
any servicing obligations fulfilled or assumed by the Master Servicer, the
Master Servicer shall be entitled to any servicing compensation to which a
Servicer would have been entitled if the Servicing Agreement with such Servicer
had not been terminated.
SECTION 3.10 APPLICATION OF NET LIQUIDATION PROCEEDS.
For all purposes under this agreement, Net Liquidation Proceeds
received from a Servicer shall be allocated first to accrued and unpaid interest
on the related Mortgage Loan and then to the unpaid principal balance thereof.
SECTION 3.11 ACT REPORTS.
The Master Servicer shall, on behalf of the Seller, make all filings
required to be made by the Seller with respect to the Class A Certificates
(other than the Class A-PO Certificates) and the Class B-1, Class B-2 and Class
B-3 Certificates pursuant to the Securities Exchange Act of 1934, as amended.
<PAGE>
ARTICLE IV
DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
PAYMENTS TO CERTIFICATEHOLDERS;
STATEMENTS AND REPORTS
SECTION 4.01 DISTRIBUTIONS.
(a) On each Distribution Date, the Pool Distribution Amount will
be applied in the following amounts, to the extent the Pool Distribution Amount
is sufficient therefor, in the manner and in the order of priority as follows:
first, to the Classes of Class A Certificates, pro rata, based upon
their respective Interest Accrual Amounts, in an aggregate amount up to
the Class A Interest Accrual Amount with respect to such Distribution
Date; provided that prior to the applicable Accretion Termination Date, an
amount equal to the amount that would otherwise be distributable in
respect of interest to each Class of Accrual Certificates pursuant to this
provision will instead be distributed in reduction of the Principal
Balances of certain Classes of Class A Certificates, in each case in
accordance with Section 4.01(b);
second, to the Classes of Class A Certificates, pro rata, based upon
their respective Class A Unpaid Interest Shortfalls, in an aggregate
amount up to the Aggregate Class A Unpaid Interest Shortfall; provided
that prior to the applicable Accretion Termination Date, an amount equal
to the amount that would otherwise be distributable in respect of unpaid
interest shortfalls to each Class of Accrual Certificates pursuant to this
provision will instead be distributed in reduction of the Principal
Balances of certain Classes of Class A Certificates, in each case in
accordance with Section 4.01(b);
third, concurrently, to the Class A Certificates (other than the
Class A-PO Certificates) and the Class A-PO Certificates, pro rata, based
on their respective Class A Non-PO Optimal Principal Amount and Class A-PO
Optimal Principal Amount, (A) to the Classes of Class A Certificates
(other than the Class A-PO Certificates), in an aggregate amount up to the
Class A Non-PO Optimal Principal Amount, such distribution to be allocated
among such Classes in accordance with Section 4.01(b) or Section 4.01(c),
as applicable, and (B) to the Class A-PO Certificates in an amount up to
the Class A-PO Optimal Principal Amount;
fourth, to the Class A-PO Certificates in an amount up to the Class
A-PO Deferred Amount from amounts otherwise distributable (without regard
to this Paragraph fourth) first to the Class B-6 Certificates pursuant to
Paragraph twenty-second, below, second to the Class B-5 Certificates
pursuant to Paragraph nineteenth, below, third to the Class B-4
Certificates pursuant to Paragraph sixteenth, below, fourth to the Class
B-3 Certificates pursuant to Paragraph thirteenth, below, fifth to the
Class B-2 Certificates pursuant to Paragraph tenth below, and sixth to the
Class B-1 Certificates pursuant to Paragraph seventh below;
fifth, to the Class B-1 Certificates in an amount up to the
Interest Accrual Amount for the Class B-1 Certificates with respect to
such Distribution Date;
sixth, to the Class B-1 Certificates in an amount up to the
Class B-1 Unpaid Interest Shortfall;
seventh, to the Class B-1 Certificates in an amount up to the
Class B-1 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-1 Certificates pursuant to this Paragraph
seventh will be reduced by the amount, if any, that would have been
distributable to the Class B-1 Certificates hereunder used to pay the
Class A-PO Deferred Amount as provided in Paragraph fourth above;
eighth, to the Class B-2 Certificates in an amount up to the
Interest Accrual Amount for the Class B-2 Certificates with respect to
such Distribution Date;
ninth, to the Class B-2 Certificates in an amount up to the
Class B-2 Unpaid Interest Shortfall;
tenth, to the Class B-2 Certificates in an amount up to the
Class B-2 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-2 Certificates pursuant to this Paragraph
tenth will be reduced by the amount, if any, that would have been
distributable to the Class B-2 Certificates hereunder used to pay the
Class A-PO Deferred Amount as provided in Paragraph fourth above;
eleventh, to the Class B-3 Certificates in an amount up to the
Interest Accrual Amount for the Class B-3 Certificates with respect to
such Distribution Date;
twelfth, to the Class B-3 Certificates in an amount up to
the Class B-3 Unpaid Interest Shortfall;
thirteenth, to the Class B-3 Certificates in an amount up to
the Class B-3 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-3 Certificates pursuant to this Paragraph
thirteenth will be reduced by the amount, if any, that would have been
distributable to the Class B-3 Certificates hereunder used to pay the
Class A-PO Deferred Amount as provided in Paragraph fourth above;
fourteenth, to the Class B-4 Certificates in an amount up to
the Interest Accrual Amount for the Class B-4 Certificates with respect to
such Distribution Date;
fifteenth, to the Class B-4 Certificates in an amount up to
the Class B-4 Unpaid Interest Shortfall;
sixteenth, to the Class B-4 Certificates in an amount up to
the Class B-4 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-4 Certificates pursuant to this Paragraph
sixteenth will be reduced by the amount, if any, that would have been
distributable to the Class B-4 Certificates hereunder used to pay the
Class A-PO Deferred Amount as provided in Paragraph fourth above;
seventeenth, to the Class B-5 Certificates in an amount up to
the Interest Accrual Amount for the Class B-5 Certificates with respect to
such Distribution Date;
eighteenth, to the Class B-5 Certificates in an amount up
to the Class B-5 Unpaid Interest Shortfall;
nineteenth, to the Class B-5 Certificates in an amount up to
the Class B-5 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-5 Certificates pursuant to this Paragraph
nineteenth will be reduced by the amount, if any, that would have been
distributable to the Class B-5 Certificates hereunder used to pay the
Class A-PO Deferred Amount as provided in Paragraph fourth above;
twentieth, to the Class B-6 Certificates in an amount up to
the Interest Accrual Amount for the Class B-6 Certificates with respect to
such Distribution Date;
twenty-first, to the Class B-6 Certificates in an amount up
to the Class B-6 Unpaid Interest Shortfall;
twenty-second, to the Class B-6 Certificates in an amount up
to the Class B-6 Optimal Principal Amount; provided, however, that the
amount distributable to the Class B-6 Certificates pursuant to this
Paragraph twenty-second will be reduced by the amount, if any, that would
have been distributable to the Class B-6 Certificates hereunder used to
pay the Class A-PO Deferred Amount as provided in Paragraph fourth above;
and
twenty-third, to the Holder of the Class A-R Certificate.
Notwithstanding the foregoing, after the Principal Balance of any
Class (other than the Class A-R Certificate) has been reduced to zero, such
Class will be entitled to no further distributions of principal or interest
(including, without limitation, any Unpaid Interest Shortfalls).
In addition, Net Liquidation Profits, if any, with respect to such
Distribution Date minus any portion thereof payable to a Servicer pursuant to
Section 3.02(ix) hereof shall be distributed to the Holder of the Class A-R
Certificate.
With respect to any Distribution Date, the amount of the Principal
Adjustment, if any, attributable to any Class of Class B Certificates will be
allocated to the Classes of Class A Certificates (other than the Class A-PO
Certificates) and any Class of Class B Certificates with a lower numerical
designation pro rata based on their Principal Balances.
(b) On each Distribution Date occurring prior to the Cross-Over
Date, the Class A Non-PO Principal Distribution Amount will be allocated among
and distributed in reduction of the Principal Balances of the Classes of Class A
Certificates (other than the Principal Balance of the Class A-PO Certificates)
in accordance with the following priorities:
I. On each Distribution Date occurring prior to the Accretion
Termination Date for the Class A-2 Certificates, the Accrual Distribution
Amount for the Class A-2 Certificates will be allocated sequentially as
follows:
first, concurrently, as follows:
(a) 27.0049302579%, sequentially, to the Class A-9, Class A-11
and Class A-10 Certificates, in that order, until the Principal Balance of
each such Class has been reduced to zero; and
(b) 72.9950697421%, sequentially, to the Class A-7, Class A-8
and Class A-1 Certificates, in that order, until the Principal Balance of
each such Class has been reduced to zero; and
second, to the Class A-2 Certificates, until the Principal
Balance thereof has been reduced to zero;
II. On each Distribution Date occurring prior to the Accretion
Termination Date for the Class A-8 Certificates, the Accrual Distribution
Amount for the Class A-8 Certificates will be allocated sequentially as
follows:
first, to the Class A-7 Certificates, until the Principal Balance
thereof has been reduced to zero; and
second, to the Class A-8 Certificates, until the Principal Balance
thereof has been reduced to zero;
III. On each Distribution Date occurring prior to the Accretion
Termination Date for the Class A-11 Certificates, the Accrual Distribution
Amount for the Class A-11 Certificates will be allocated sequentially as
follows:
first, to the Class A-9 Certificates, until the Principal Balance
thereof has been reduced to zero; and
second, to the Class A-11 Certificates, until the Principal Balance
thereof has been reduced to zero; and
IV. The Class A Non-PO Principal Amount will be allocated
sequentially as follows:
first, to the Class A-4 Certificates, up to the Priority Amount for
such Distribution Date;
second, to the Class A-R Certificate, until the Principal Balance
thereof has been reduced to zero;
third, concurrently, as follows:
(a) 27.0049302579%, sequentially, as follows:
(i) to the Class A-10 Certificates, up to their PAC Principal
Amount for such Distribution Date;
(ii) to the Class A-9 Certificates, up to their Reduction
Amount for such Distribution Date;
(iii) to the Class A-11 Certificates, until the Principal
Balance thereof has been reduced to zero;
(iv) to the Class A-9 Certificates, without regard to their
Reduction Amount for such Distribution Date, until the Principal
Balance thereof has been reduced to zero; and
(v) to the Class A-10 Certificates, without regard to their
PAC Principal Amount for such Distribution Date, until the Principal
Balance thereof has been reduced to zero;
(b) 72.9950697421%, sequentially, as follows:
(i) to the Class A-1 Certificates, up to their PAC Principal
Amount for such Distribution Date;
(ii) to the Class A-7 Certificates, up to their Reduction
Amount for such Distribution Date;
(iii) to the Class A-8 Certificates, until the Principal
Balance thereof has been reduced to zero;
(iv) to the Class A-7 Certificates, without regard to their
Reduction Amount, until the Principal Balance thereof has been
reduced to zero; and
(v) to the Class A-1 Certificates, without regard to their PAC
Principal Amount for such Distribution Date, until the Principal
Balance thereof has been reduced to zero;
fourth, to the Class A-2 Certificates, until the Principal
Balance thereof has been reduced to zero;
fifth, concurrently, as follows:
(a) 50.0000000000%, sequentially, to the Class A-3 and the
Class A-12 Certificates, in that order, until the Principal Balance
of each such Class has been reduced to zero;
(b) 25.0000000000% to the Class A-5 Certificates, until the
Principal Balance thereof has been reduced to zero; and
(c) 25.0000000000% to the Class A-6 Certificates, until the
Principal Balance thereof has been reduced to zero; and
sixth, to the Class A-4 Certificates, without regard to the Priority
Amount for such Distribution Date, until the Principal Balance thereof has
been reduced to zero.
As used above, the "PAC Principal Amount" for any Distribution Date
and each Class of PAC Certificates means the amount, if any, that would reduce
the Principal Balance of such Class to the percentage of its Original Principal
Balance shown in the related table set forth below with respect to such
Distribution Date.
As used above, the "Reduction Amount" for any Distribution Date and
each Class of Scheduled Certificates means the amount, if any, that would reduce
the Principal Balance of such Class to the percentage of its Original Principal
Balance shown in the related table set forth below with respect to such
Distribution Date.
The following tables set forth for each Distribution Date the
planned Principal Balances for each Class of PAC Certificates and the scheduled
Principal Balances for each Class of Scheduled Certificates, expressed as a
percentage of the Original Principal Balance of such Class.
<PAGE>
PLANNED PRINCIPAL BALANCES
AS PERCENTAGES OF INITIAL PRINCIPAL BALANCE
<TABLE>
<CAPTION>
CLASS A-1 CERTIFICATES
- -------------------------------------------------------------------------------------------------------------------
PERCENTAGE OF PERCENTAGE OF PERCENTAGE OF
INITIAL INITIAL INITIAL
DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
Up to and including April 2003........ 68.39966435 May 2006.......... 29.21022899
April 2000........ 99.71194486 May 2003.......... 67.25280269 June 2006......... 28.26761441
May 2000.......... 99.38800214 June 2003......... 66.10980437 July 2006......... 27.32823890
June 2000......... 99.02831129 July 2003......... 64.97065345 August 2006....... 26.39208886
July 2000......... 98.63295236 August 2003....... 63.83533403 September 2006.... 25.45915075
August 2000....... 98.20201931 September 2003.... 62.70383027 October 2006...... 24.52941107
September 2000.... 97.73562003 October 2003...... 61.57612639 November 2006.... 23.60285639
October 2000...... 97.23387630 November 2003.... 60.45220668 December 2006..... 22.67947333
November 2000.... 96.69692374 December 2003..... 59.33205548 January 2007...... 21.75924855
December 2000..... 96.12491176 January 2004...... 58.21565719 February 2007..... 20.84216879
January 2001...... 95.51800353 February 2004..... 57.10299626 March 2007........ 19.92822081
February 2001..... 94.87637589 March 2004........ 55.99405723 April 2007........ 19.05231874
March 2001........ 94.20021927 April 2004........ 54.88882466 May 2007.......... 18.17938489
April 2001........ 93.48973764 May 2004.......... 53.78728320 June 2007......... 17.30940641
May 2001.......... 92.74514841 June 2004......... 52.68941753 July 2007......... 16.44237050
June 2001......... 91.96668228 July 2004......... 51.59521242 August 2007....... 15.57826442
July 2001......... 91.15458319 August 2004....... 50.50465266 September 2007.... 14.71707547
August 2001....... 90.30910820 September 2004.... 49.41772313 October 2007...... 13.85879101
September 2001.... 89.43052731 October 2004...... 48.33440876 November 2007.... 13.00339844
October 2001...... 88.51912337 November 2004.... 47.25469452 December 2007..... 12.15088521
November 2001.... 87.57519194 December 2004..... 46.17856546 January 2008...... 11.30123884
December 2001..... 86.59904110 January 2005...... 45.10600667 February 2008..... 10.45444686
January 2002...... 85.59099132 February 2005..... 44.03700331 March 2008........ 9.61049689
February 2002..... 84.55137529 March 2005........ 42.97154058 April 2008........ 8.80319794
March 2002........ 83.48053771 April 2005........ 41.96380242 May 2008.......... 7.99851743
April 2002........ 82.37883517 May 2005.......... 40.95954448 June 2008......... 7.19644362
May 2002.......... 81.24663588 June 2005......... 39.95875233 July 2008......... 6.39696477
June 2002......... 80.08431952 July 2005......... 38.96141159 August 2008....... 5.60006922
July 2002......... 78.89793326 August 2005....... 37.96750794 September 2008.... 4.80574533
August 2002....... 77.71557329 September 2005.... 36.97702712 October 2008...... 4.01398153
September 2002.... 76.53722303 October 2005...... 35.98995493 November 2008.... 3.22476626
October 2002...... 75.36286599 November 2005.... 35.00627721 December 2008..... 2.43808802
November 2002.... 74.19248571 December 2005..... 34.02597987 January 2009...... 1.65393536
December 2002..... 73.02606579 January 2006...... 33.04904887 February 2009..... 0.87229687
January 2003...... 71.86358994 February 2006..... 32.07547023 March 2009........ 0.09316117
February 2003..... 70.70504187 March 2006........ 31.10523003 April 2009........
March 2003........ 69.55040538 April 2006........ 30.15609630 and thereafter. 0.00000000
<CAPTION>
CLASS A-10 CERTIFICATES
- -------------------------------------------------------------------------------------------------------------------
PERCENTAGE OF PERCENTAGE OF PERCENTAGE OF
INITIAL INITIAL INITIAL
DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
Up to and including January 2004...... 66.88680466 November 2007.... 28.94206106
April 2000........ 99.73468575 February 2004..... 65.99512969 December 2007..... 28.18583563
May 2000.......... 99.44368956 March 2004........ 65.10478184 January 2008...... 27.43057449
June 2000......... 99.12713200 April 2004........ 64.21575405 February 2008..... 26.67627117
July 2000......... 98.78506295 May 2004.......... 63.32803927 March 2008........ 25.92291923
August 2000....... 98.41753900 June 2004......... 62.44163045 April 2008........ 25.19730872
September 2000.... 98.02462346 July 2004......... 61.55652053 May 2008.......... 25.19730872
October 2000...... 97.60638633 August 2004....... 60.67270246 June 2008......... 23.74862537
November 2000.... 97.16290430 September 2004.... 59.79016921 July 2008......... 23.02553974
December 2000..... 96.69426073 October 2004...... 58.90891373 August 2008....... 22.30328295
January 2001...... 96.20054562 November 2004.... 58.02892900 September 2008.... 21.30328295
February 2001..... 95.68185559 December 2004..... 57.15020797 October 2008...... 20.86123031
March 2001........ 95.13829385 January 2005...... 56.27274363 November 2008.... 20.14142167
April 2001........ 94.56997019 February 2005..... 55.39652894 December 2008..... 19.42241630
May 2001.......... 93.97700092 March 2005........ 54.52155689 January 2009...... 18.70420782
June 2001......... 93.35950885 April 2005........ 53.68880153 February 2009..... 17.98678982
July 2001......... 92.71762325 May 2005.......... 52.85728868 March 2009........ 17.27015593
August 2001....... 92.05147980 June 2005......... 52.02701161 April 2009........ 16.58056313
September 2001.... 91.36122057 July 2005......... 51.19796362 May 2009.......... 15.89161475
October 2001...... 90.64699392 August 2005....... 50.37013798 June 2009......... 15.20330447
November 2001.... 89.90895452 September 2005.... 49.54352799 July 2009......... 14.51562598
December 2001..... 89.14726326 October 2005...... 48.71812694 August 2009....... 13.82857296
January 2002...... 88.36208718 November 2005.... 47.89392814 September 2009.... 13.14213908
February 2002..... 87.55359943 December 2005..... 47.07092491 October 2009...... 12.45631804
March 2002........ 86.72197924 January 2006...... 46.24911055 November 2009.... 11.77110348
April 2002........ 85.86741180 February 2006..... 45.42847838 December 2009..... 11.08648909
May 2002.......... 84.99008822 March 2006........ 44.60902174 January 2010...... 10.40246852
June 2002......... 84.09020547 April 2006........ 43.80435208 February 2010..... 9.71903542
July 2002......... 83.17196779 May 2006.......... 43.00083122 March 2010........ 9.03618346
August 2002....... 82.25519221 June 2006......... 42.19845255 April 2010........ 8.35390628
September 2002.... 81.33987161 July 2006......... 41.39720944 May 2010.......... 7.67219751
October 2002...... 80.42599884 August 2006....... 40.59709532 June 2010......... 6.99105081
November 2002.... 79.51356676 September 2006.... 39.79810358 July 2010......... 6.31045982
December 2002..... 78.60256823 October 2006...... 39.00022764 August 2010....... 5.63041813
January 2003...... 77.69299614 November 2006.... 38.20346090 September 2010.... 4.95091940
February 2003..... 76.78484335 December 2006..... 37.40779681 October 2010...... 4.27195724
March 2003........ 75.87810276 January 2007...... 36.61322877 November 2010.... 3.59352526
April 2003........ 74.97276724 February 2007..... 35.81975024 December 2010..... 2.91561708
May 2003.......... 74.06882970 March 2007........ 35.02735464 January 2011...... 2.23822629
June 2003......... 73.16628301 April 2007........ 34.26318206 February 2011..... 1.56134649
July 2003......... 72.26512010 May 2007.......... 33.50002556 March 2011........ 0.88497128
August 2003....... 71.36533385 June 2007......... 32.73787865 April 2011........ 0.20909424
September 2003.... 70.46691718 July 2007......... 31.97673483 May 2011..........
October 2003...... 69.56986301 August 2007....... 31.21658764 and thereafter. 0.00000000
November 2003.... 68.67416425 September 2007.... 30.45743060
December 2003..... 67.77981383 October 2007...... 29.69925722
<CAPTION>
SCHEDULED PRINCIPAL BALANCES AS PERCENTAGES OF INITIAL PRINCIPAL BALANCE
CLASS A-7 CERTIFICATES
- -------------------------------------------------------------------------------------------------------------------
PERCENTAGE OF PERCENTAGE OF PERCENTAGE OF
INITIAL INITIAL INITIAL
DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
Up to and including November 2001.... 74.00036772 July 2003......... 28.40756588
April 2000........ 99.54514909 December 2001..... 71.86811053 August 2003....... 26.40501413
May 2000.......... 98.99651067 January 2002...... 69.67219801 September 2003.... 24.43724742
June 2000......... 98.35428914 February 2002..... 67.41541800 October 2003...... 22.50377960
July 2000......... 97.61883123 March 2002........ 65.10065319 November 2003.... 20.60413045
August 2000....... 96.79062636 April 2002........ 62.73087591 December 2003..... 18.73782561
September 2000.... 95.87030675 May 2002.......... 60.30914280 January 2004...... 16.90439645
October 2000...... 94.85864722 June 2002......... 57.83858926 February 2004..... 15.10338005
November 2000.... 93.75656462 July 2002......... 55.33676704 March 2004........ 13.33431912
December 2000..... 92.56511712 August 2002....... 52.87662215 April 2004........ 11.59676193
January 2001...... 91.28550304 September 2002.... 50.45758459 May 2004.......... 9.89026221
February 2001..... 89.91905947 October 2002...... 48.07909129 June 2004......... 8.21437915
March 2001........ 88.46726060 November 2002.... 45.74058604 July 2004......... 6.56867725
April 2001........ 86.93171569 December 2002..... 43.44151942 August 2004....... 4.95272634
May 2001.......... 85.31416679 January 2003...... 41.18134867 September 2004.... 3.36610144
June 2001......... 83.61648619 February 2003..... 38.95953765 October 2004...... 1.80838274
July 2001......... 81.84067350 March 2003........ 36.77555674 November 2004.... 0.27915552
August 2001....... 79.98885257 April 2003........ 34.62888278 December 2004.....
September 2001.... 78.06326799 May 2003.......... 32.51899896 and thereafter. 0.00000000
October 2001...... 76.06628144 June 2003......... 30.44539476
<CAPTION>
CLASS A-9 CERTIFICATES
- -------------------------------------------------------------------------------------------------------------------
PERCENTAGE OF PERCENTAGE OF PERCENTAGE OF
INITIAL INITIAL INITIAL
DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE DISTRIBUTION DATE PRINCIPAL BALANCE
----------------- ----------------- ----------------- ----------------- ----------------- -----------------
<S> <C> <C> <C> <C> <C>
Up to and including September 2001.... 76.55543949 March 2003........ 31.53095301
April 2000........ 99.52983110 October 2001...... 74.39921061 April 2003........ 29.16265271
May 2000.......... 98.95772693 November 2001.... 72.16623889 May 2003.......... 26.83188711
June 2000......... 98.28390968 December 2001..... 69.85913075 June 2003......... 24.53816785
July 2000......... 97.50874391 January 2002...... 67.48059828 July 2003......... 22.28101241
August 2000....... 96.63273684 February 2002..... 65.03345468 August 2003....... 20.05994410
September 2000.... 95.65653843 March 2002........ 62.52060954 September 2003.... 17.87449193
October 2000...... 94.58094119 April 2002........ 59.94506384 October 2003...... 15.72419059
November 2000.... 93.40687965 May 2002.......... 57.30990484 November 2003.... 13.60858034
December 2000..... 92.13542955 June 2002......... 54.61830068 December 2003..... 11.52720700
January 2001...... 90.76780684 July 2002......... 51.88920579 January 2004...... 9.47962179
February 2001..... 89.30536626 August 2002....... 49.20231743 February 2004..... 7.46538136
March 2001........ 87.74959972 September 2002.... 46.55709102 March 2004........ 5.48404768
April 2001........ 86.10213436 October 2002...... 43.95298854 April 2004........ 3.53518796
May 2001.......... 84.36473035 November 2002.... 41.38947843 May 2004.......... 1.61837462
June 2001......... 82.53927837 December 2002..... 38.86603555 June 2004.........
July 2001......... 80.62779688 January 2003...... 36.38214105 and thereafter. 0.00000000
August 2001....... 78.63242906 February 2003..... 33.93728235
</TABLE>
(c) Notwithstanding the foregoing, on each Distribution Date
occurring on or subsequent to the Cross-Over Date, the Class A Non-PO Principal
Distribution Amount shall be distributed among the Classes of Class A
Certificates (other than the Class A-PO Certificates) pro rata in accordance
with their outstanding Principal Balances without regard to either the
proportions or the priorities set forth in Section 4.01(b).
(d) (i) For purposes of determining whether the Classes of Class
B Certificates are eligible to receive distributions of principal with respect
to any Distribution Date, the following tests shall apply:
(A) if the Current Class B-1 Fractional Interest is less than
the Original Class B-1 Fractional Interest and the Class B-1
Principal Balance is greater than zero, the Class B-2, Class B-3,
Class B-4, Class B-5 and Class B-6 Certificates shall not be
eligible to receive distributions of principal; or
(B) if the Current Class B-2 Fractional Interest is less than
the Original Class B-2 Fractional Interest and the Class B-2
Principal Balance is greater than zero, the Class B-3, Class B-4,
Class B-5 and Class B-6 Certificates shall not be eligible to
receive distributions of principal; or
(C) if the Current Class B-3 Fractional Interest is less than
the Original Class B-3 Fractional Interest and the Class B-3
Principal Balance is greater than zero, the Class B-4, Class B-5 and
Class B-6 Certificates shall not be eligible to receive
distributions of principal; or
(D) if the Current Class B-4 Fractional Interest is less than
the Original Class B-4 Fractional Interest and the Class B-4
Principal Balance is greater than zero, the Class B-5 and Class B-6
Certificates shall not be eligible to receive distributions of
principal; or
(E) if the Current Class B-5 Fractional Interest is less than
the Original Class B-5 Fractional Interest and the Class B-5
Principal Balance is greater than zero, the Class B-6 Certificates
shall not be eligible to receive distributions of principal.
(ii) Notwithstanding the foregoing, if on any Distribution Date
the aggregate distributions to Holders of the Classes of Class B Certificates
entitled to receive distributions of principal would reduce the Principal
Balances of the Classes of Class B Certificates entitled to receive
distributions of principal below zero, first the Class B Prepayment Percentage
of any affected Class of Class B Certificates for such Distribution Date
beginning with the affected Class with the lowest numerical Class designation
and then, if necessary, the Class B Percentage of such Class of the Class B
Certificates for such Distribution Date shall be reduced to the respective
percentages necessary to bring the Principal Balance of such Class of Class B
Certificates to zero. The Class B Prepayment Percentages and the Class B
Percentages of the remaining Classes of Class B Certificates will be recomputed
substituting for the Subordinated Prepayment Percentage and Subordinated
Percentage in such computations the difference between (A) the Subordinated
Prepayment Percentage or Subordinated Percentage, as the case may be, and (B)
the percentages determined in accordance with the preceding sentence necessary
to bring the Principal Balances of the affected Classes of Class B Certificates
to zero; provided, however, that if the Principal Balances of all the Classes of
Class B Certificates eligible to receive distributions of principal shall be
reduced to zero on such Distribution Date, the Class B Prepayment Percentage and
the Class B Percentage of the Class of Class B Certificates with the lowest
numerical Class designation which would otherwise be ineligible to receive
distributions of principal in accordance with this Section shall equal the
remainder of the Subordinated Prepayment Percentage for such Distribution Date
minus the sum of the Class B Prepayment Percentages of the Classes of Class B
Certificates having lower numerical Class designations, if any, and the
remainder of the Subordinated Percentage for such Distribution Date minus the
sum of the Class B Percentages of the Classes of Class B Certificates having
lower numerical Class designations, if any, respectively. Any entitlement of any
Class of Class B Certificates to principal payments solely pursuant to this
clause (ii) shall not cause such Class to be regarded as being eligible to
receive principal distributions for the purpose of applying the definition of
its Class B Percentage or Class B Prepayment Percentage.
(e) On each Distribution Date other than the Final Distribution
Date (if such Final Distribution Date is in connection with a purchase of the
assets of the Trust Estate by the Seller), the Paying Agent shall, on behalf of
the Master Servicer, from funds remitted to it by the Master Servicer,
distribute to each Certificateholder of record on the preceding Record Date
(other than as provided in Section 9.01 respecting the final distribution to
Certificateholders or in the last paragraph of this Section 4.01(e) respecting
the final distribution in respect of any Class) either in immediately available
funds by wire transfer to the account of such Certificateholder at a bank or
other entity having appropriate facilities therefor, if such Certificateholder
holds Certificates having a Denomination at least equal to that specified in
Section 11.23, and has so notified the Master Servicer or, if applicable, the
Paying Agent at least seven Business Days prior to the Distribution Date or, if
such Holder holds Certificates having, in the aggregate, a Denomination less
than the requisite minimum Denomination or if such Holder holds the Class A-R
Certificate or has not so notified the Paying Agent, by check mailed to such
Holder at the address of such Holder appearing in the Certificate Register, such
Holder's share of the Class A Distribution Amount with respect to each Class of
Class A Certificates and the Class B Distribution Amount with respect to each
Class of Class B Certificates.
In the event that, on any Distribution Date prior to the Final
Distribution Date, the Principal Balance of any Class of Class A Certificates
(other than the Class A-R Certificate) or the Principal Balance of any Class of
Class B Certificates would be reduced to zero, the Master Servicer shall, as
soon as practicable after the Determination Date relating to such Distribution
Date, send a notice to the Trustee. The Trustee will then send a notice to each
Certificateholder of such Class with a copy to the Certificate Registrar,
specifying that the final distribution with respect to such Class will be made
on such Distribution Date only upon the presentation and surrender of such
Certificateholder's Certificates at the office or agency of the Trustee therein
specified; provided, however, that the failure to give such notice will not
entitle a Certificateholder to any interest beyond the interest payable with
respect to such Distribution Date in accordance with Section 4.01(a).
(f) The Paying Agent (or if no Paying Agent is appointed by the
Master Servicer, the Master Servicer) shall withhold or cause to be withheld
such amounts as may be required by the Code (giving full effect to any
exemptions from withholding and related certifications required to be furnished
by Certificateholders and any reductions to withholding by virtue of any
bilateral tax treaties and any applicable certification required to be furnished
by Certificateholders with respect thereto) from distributions to be made to
Persons other than U.S. Persons ("Non-U.S. Persons"). Amounts withheld pursuant
to this Section 4.01(f) shall be treated as having been distributed to the
related Certificateholder for all purposes of this Agreement. For the purposes
of this paragraph, a "U.S. Person" is a citizen or resident of the United
States, a corporation or partnership (unless, in the case of a partnership,
Treasury regulations are adopted that provide otherwise) created or organized in
or under the laws of the United States, any state thereof or the District of
Columbia, including an entity treated as a corporation or partnership for
federal income tax purposes, an estate whose income is subject to United States
federal income tax regardless of its source, or a trust if a court within the
United States is able to exercise primary supervision over the administration of
such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable
Treasury regulations, certain trusts in existence on August 20, 1996 which are
eligible to elect to be treated as U.S. Persons).
SECTION 4.02 ALLOCATION OF REALIZED LOSSES.
(a) With respect to any Distribution Date, the principal portion
of Realized Losses (other than Debt Service Reductions, Excess Special Hazard
Losses, Excess Fraud Losses and Excess Bankruptcy Losses) will be allocated as
follows:
first, to the Class B-6 Certificates until the Class B-6 Principal Balance
has been reduced to zero;
second, to the Class B-5 Certificates until the Class B-5 Principal
Balance has been reduced to zero;
third, to the Class B-4 Certificates until the Class B-4 Principal Balance
has been reduced to zero;
fourth, to the Class B-3 Certificates until the Class B-3 Principal
Balance has been reduced to zero;
fifth, to the Class B-2 Certificates until the Class B-2 Principal Balance
has been reduced to zero;
sixth, to the Class B-1 Certificates until the Class B-1 Principal Balance
has been reduced to zero; and
seventh, concurrently, to the Class A Certificates (other than the Class
A-PO Certificates) and Class A-PO Certificates, pro rata, based on the
Non-PO Fraction and the PO Fraction, respectively.
This allocation of Realized Losses will be effected through the
reduction of the applicable Class's Principal Balance.
(b) With respect to any Distribution Date, the principal portion
of Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy
Losses occurring with respect to any Mortgage Loan allocable to the Class A-PO
Certificates will equal the product of the amount of any such principal loss and
the PO Fraction for such Mortgage Loan. The principal portion of any Excess
Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses
remaining after allocation to the Class A-PO Certificates in accordance with the
preceding sentence shall be allocated pro rata among the Class A Certificates
(other than the Class A-PO Certificates) and Class B Certificates based on the
Class A Non-PO Principal Balance and the Class B Principal Balance,
respectively. Any such loss allocated to the Class A Certificates shall be
allocated on the subsequent Determination Date among the outstanding Classes of
Class A Certificates (other than the Class A-PO Certificates) in accordance with
the Class A Loss Percentages as of such Determination Date. Any such loss
allocated to the Class B Certificates shall be allocated pro rata among the
outstanding Classes of Class B Certificates based on their Principal Balances.
(c) Any Realized Losses allocated to a Class of Class A
Certificates or Class B Certificates pursuant to Section 4.02(a) or Section
4.02(b) shall be allocated among the Certificates of such Class based on their
Percentage Interests.
(d) In the event that there is a Recovery of an amount in respect
of principal of a Mortgage Loan which had previously been allocated as a
Realized Loss to any Classes of Class A Certificates or any Classes of Class B
Certificates, each outstanding Class to which such Realized Loss had previously
been allocated shall be entitled to its share (with respect to the Class A-PO
Certificates, based on the PO Fraction of such Mortgage Loan and, with respect
to the Class A Certificates (other than the Class A-PO Certificates) and Class B
Certificates, based on their pro rata share of the Non-PO Fraction of such
Mortgage Loan) of such Recovery up to the amount of such Realized Loss
previously allocated to such Class on the Distribution Date in the month
following the month in which such recovery is received. When the Principal
Balance of a Class of Certificates has been reduced to zero, such Class shall
not be entitled to any share of such Recovery. In the event that the amount of
such Recovery exceeds the amount of such Recovery allocated to each outstanding
Class in accordance with the preceding provisions, each outstanding Class shall
be entitled to its pro rata share (determined as described above) of such excess
up to the amount of any unrecovered Realized Loss previously allocated to such
Class. Notwithstanding the foregoing provisions, but subject to the following
proviso, if such Recovery occurs within two years of the realization of such
loss and (i) is the result of an event that would have given rise to the
repurchase of the related Mortgage Loan by the Seller pursuant to Section 2.02
or 2.03, or (ii) represents in whole or part funds which the applicable Servicer
had received in respect of a Liquidated Loan but failed to remit to the
Certificate Account on or prior to the Business Day preceding the Distribution
Date following the Applicable Unscheduled Principal Receipt Period in which the
Mortgage Loan became a Liquidated Loan, such Recovery may, at the sole
discretion of the Master Servicer, be treated as a repurchase or an Unscheduled
Principal Receipt with respect to such Mortgage Loan, as the case may be, the
Realized Loss previously recognized may be reversed and treated for all
subsequent purposes as if it had never occurred and the Master Servicer may make
such adjustments to interest or principal distributions on the Certificates and
to the principal balances of the Certificates as the Master Servicer in its good
faith judgment and sole discretion deems necessary or desirable to effectuate
the reversal of the Realized Loss and the treatment of such amount as a
repurchase or as an Unscheduled Principal Receipt, as the case may be; provided
that such actions do not result in the aggregate distributions made in respect
of each Class of Certificates whose principal balances were previously reduced
as a result of such Realized Loss being less than such Class would have received
if such Recovery had been deposited in the Certificate Account on or prior to
the Business Day preceding the Distribution Date following the Applicable
Unscheduled Principal Receipt Period in which the Mortgage Loan became a
Liquidated Loan.
(e) The interest portion of Excess Special Hazard Losses, Excess
Fraud Losses and Excess Bankruptcy Losses shall be allocated between (i) the
Class A Certificates and (ii) the Class B Certificates, pro rata based on the
Class A Interest Accrual Amount and the Class B Interest Accrual Amount for the
related Distribution Date, without regard to any reduction pursuant to this
sentence. Any such loss allocated to the Class A Certificates shall be allocated
among the outstanding Classes of Class A Certificates based on their Class A
Interest Percentages. Any such loss allocated to the Class B Certificates will
be allocated among the outstanding Classes of Class B Certificates based on
their Class B Interest Percentages. In addition, after the Class B Principal
Balance has been reduced to zero, the interest portion of Realized Losses (other
than Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy
Losses) will be allocated among the outstanding Classes of Class A Certificates
based on their Class A Interest Percentages.
(f) Realized Losses allocated in accordance with this Section 4.02
will be allocated on the Determination Date in the second month following the
month in which such loss was incurred with respect to the preceding Distribution
Date.
SECTION 4.03 PAYING AGENT.
(a) The Master Servicer hereby appoints the Trustee as initial
Paying Agent to make distributions to Certificateholders and to forward to
Certificateholders the periodic statements and the annual statements required by
Section 4.04 as agent of the Master Servicer.
The Master Servicer may, at any time, remove or replace the Paying
Agent.
The Master Servicer shall cause any Paying Agent that is not the
Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent agrees with the Trustee that such Paying Agent shall:
(i) hold all amounts remitted to it by the Master Servicer for
distribution to Certificateholders in trust for the benefit of
Certificateholders until such amounts are distributed to
Certificateholders or otherwise disposed of as herein provided;
(ii) give the Trustee notice of any default by the Master
Servicer in remitting any required amount; and
(iii) at any time during the continuance of any such default,
upon the written request of the Trustee, forthwith pay to the Trustee all
amounts held in trust by such Paying Agent.
(b) The Paying Agent shall establish and maintain a Payment
Account, which shall be a separate trust account and an Eligible Account, in
which the Master Servicer shall cause to be deposited from funds in the
Certificate Account or, to the extent required hereunder, from its own funds (i)
at or before 10:00 a.m., New York time, on the Business Day preceding each
Distribution Date, by wire transfer of immediately available funds, any Periodic
Advance for such Distribution Date, pursuant to Section 3.03 and (ii) at or
before 10:00 a.m., New York time, on the Business Day preceding each
Distribution Date, by wire transfer of immediately available funds, (a) an
amount equal to the Pool Distribution Amount, (b) Net Liquidation Profits, if
any, with respect to such Distribution Date and (c) the amount of any recovery
in respect of a Realized Loss. The Master Servicer may cause the Paying Agent to
invest the funds in the Payment Account. Any such investment shall be in
Eligible Investments, which shall mature not later than the Business Day
preceding the related Distribution Date (unless the Eligible Investments are
obligations of the Trustee, in which case such Eligible Investments shall mature
not later than the Distribution Date), and shall not be sold or disposed of
prior to maturity. All income and gain realized from any such investment shall
be for the benefit of the Master Servicer and shall be subject to its withdrawal
or order from time to time. The amount of any losses incurred in respect of any
such investments shall be deposited in the Payment Account by the Master
Servicer out of its own funds immediately as realized. The Paying Agent may
withdraw from the Payment Account any amount deposited in the Payment Account
that was not required to be deposited therein and may clear and terminate the
Payment Account pursuant to Section 9.01.
SECTION 4.04 STATEMENTS TO CERTIFICATEHOLDERS; REPORT TO THE
TRUSTEE AND THE SELLER.
Concurrently with each distribution pursuant to Section 4.01(e), the
Master Servicer, or the Paying Agent appointed by the Master Servicer (upon
receipt of such statement from the Master Servicer), shall forward or cause to
be forwarded by mail to each Holder of a Certificate and the Seller a statement
setting forth:
(i) the amount of such distribution to Holders of each Class of
Class A Certificates allocable to principal, separately identifying the
aggregate amount of any Unscheduled Principal Receipts included therein;
(ii) (a) the amount of such distribution to Holders of each Class
of Class A Certificates allocable to interest, (b) the amount of the
Current Class A Interest Distribution Amount allocated to each Class of
Class A Certificates, (c) any Class A Interest Shortfall Amounts arising
with respect to such Distribution Date and any remaining Class A Unpaid
Interest Shortfall with respect to each Class after giving effect to such
distribution, (d) the amount of any Non-Supported Interest Shortfall
allocated to each Class of Class A Certificates for such Distribution Date
and (e) the interest portion of Excess Special Hazard Losses, Excess Fraud
Losses and Excess Bankruptcy Losses allocated to each Class for such
Distribution Date;
(iii) the amount of such distribution to Holders of each Class of
Class B Certificates allocable to principal, separately identifying the
aggregate amount of any Unscheduled Principal Receipts included therein;
(iv) (a) the amount of such distribution to Holders of each Class
of Class B Certificates allocable to interest, (b) the amount of the
Current Class B Interest Distribution Amount allocated to each Class of
Class B Certificates, (c) any Class B Interest Shortfall Amounts arising
with respect to such Distribution Date and any remaining Class B Unpaid
Interest Shortfall with respect to each Class B of Class B Certificates
after giving effect to such distribution, (d) the amount of any
Non-Supported Interest Shortfall allocated to each Class of Class B
Certificates for such Distribution Date, and (e) the interest portion of
Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy
Losses allocated to each Class of Class B Certificates for such
Distribution Date;
(v) the amount of any Periodic Advance by any Servicer, the
Master Servicer or the Trustee pursuant to the Servicing Agreements or
this Agreement;
(vi) the number of Mortgage Loans outstanding as of the preceding
Determination Date;
(vii) the Class A Principal Balance, the Principal Balance of
each Class of Class A Certificates, the Class B Principal Balance and the
Principal Balance of each Class of Class B Certificates as of the
following Determination Date after giving effect to the distributions of
principal made, and the principal portion of Realized Losses, if any,
allocated with respect to such Distribution Date;
(viii) the Adjusted Pool Amount, the Adjusted Pool Amount (PO
Portion), the Pool Scheduled Principal Balance of the Mortgage Loans for
such Distribution Date and the aggregate Scheduled Principal Balance of
the Discount Mortgage Loans for such Distribution Date;
(ix) the aggregate Scheduled Principal Balances of the Mortgage
Loans serviced by Norwest Mortgage and, collectively, by the Other
Servicers as of such Distribution Date;
(x)the Class A Percentage for the following Distribution Date
(without giving effect to Unscheduled Principal Receipts received after
the Applicable Unscheduled Principal Receipt Period for the current
Distribution Date which are applied by a Servicer during such Applicable
Unscheduled Principal Receipt Period);
(xi) the Class A Prepayment Percentage for the following
Distribution Date (without giving effect to Unscheduled Principal Receipts
received after the Applicable Unscheduled Principal Receipt Period for the
current Distribution Date which are applied by a Servicer during such
Applicable Unscheduled Principal Receipt Period);
(xii) the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5
and Class B-6 Percentages for the following Distribution Date (without
giving effect to Unscheduled Principal Receipts received after the
Applicable Unscheduled Principal Receipt Period for the current
Distribution Date which are applied by a Servicer during such Applicable
Unscheduled Principal Receipt Period);
(xiii) the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5
and Class B-6 Prepayment Percentages for the following Distribution Date
(without giving effect to Unscheduled Principal Receipts received after
the Applicable Unscheduled Principal Receipt Period for the current
Distribution Date which are applied by a Servicer during such Applicable
Unscheduled Principal Receipt Period);
(xiv) the number and aggregate principal balances of Mortgage
Loans delinquent (a) one month, (b) two months and (c) three months or
more;
(xv) the number and aggregate principal balances of the Mortgage
Loans in foreclosure as of the preceding Determination Date;
(xvi) the book value of any real estate acquired through
foreclosure or grant of a deed in lieu of foreclosure;
(xvii) the amount of the remaining Special Hazard Loss Amount,
Fraud Loss Amount and Bankruptcy Loss Amount as of the close of business
on such Distribution Date;
(xviii) the principal and interest portions of Realized Losses
allocated as of such Distribution Date and the amount of such Realized
Losses constituting Excess Special Hazard Losses, Excess Fraud Losses or
Excess Bankruptcy Losses;
(xix) the aggregate amount of Bankruptcy Losses allocated to each
Class of Class B Certificates in accordance with Section 4.02(a) since the
Relevant Anniversary;
(xx) the amount by which the Principal Balance of each Class of
Class B Certificates has been reduced as a result of Realized Losses
allocated as of such Distribution Date;
(xxi) the unpaid principal balance of any Mortgage Loan as to
which the Servicer of such Mortgage Loan has determined not to foreclose
because it believes the related Mortgaged Property may be contaminated
with or affected by hazardous wastes or hazardous substances;
(xxii) the amount of the aggregate Servicing Fees and Master
Servicing Fees paid (and not previously reported) with respect to the
related Distribution Date and the amount by which the aggregate Available
Master Servicer Compensation has been reduced by the Prepayment Interest
Shortfall for the related Distribution Date;
(xxiii) the Class A-PO Deferred Amount, if any; and
(xxiv) such other customary information as the Master Servicer
deems necessary or desirable to enable Certificateholders to prepare their
tax returns;
and shall deliver a copy of each type of statement to the Trustee, who shall
provide copies thereof to Persons making written request therefor at the
Corporate Trust Office.
In the case of information furnished with respect to a Class of
Class A Certificates pursuant to clauses (i) and (ii) above and with respect to
a Class of Class B Certificates pursuant to clauses (iii) and (iv) above, the
amounts shall be expressed as a dollar amount per Class A or Class B Certificate
(other than the Class A-R Certificate) with a $1,000 Denomination, and as a
dollar amount per Class A-R Certificate with a $100 Denomination.
Within a reasonable period of time after the end of each calendar
year, the Master Servicer shall furnish or cause to be furnished to each Person
who at any time during the calendar year was the Holder of a Certificate a
statement containing the information set forth in clauses (i) and (ii)(a) above
in the case of a Class A Certificateholder and the information set forth in
clauses (iii) and (iv)(a) above in the case of a Class B Certificateholder
aggregated for such calendar year or applicable portion thereof during which
such Person was a Certificateholder. Such obligation of the Master Servicer
shall be deemed to have been satisfied to the extent that substantially
comparable information shall be provided by the Master Servicer pursuant to any
requirements of the Code from time to time in force.
Prior to the close of business on the third Business Day preceding
each Distribution Date, the Master Servicer shall furnish a statement to the
Trustee, any Paying Agent and the Seller (the information in such statement to
be made available to Certificateholders by the Master Servicer on written
request) setting forth the Class A Distribution Amount with respect to each
Class of Class A Certificates and the Class B Distribution Amount with respect
to each Class of Class B Certificates. The determination by the Master Servicer
of such amounts shall, in the absence of obvious error, be presumptively deemed
to be correct for all purposes hereunder and the Trustee and the Paying Agent
shall be protected in relying upon the same without any independent check or
verification.
In addition to the reports required pursuant to this Section 4.04,
the Master Servicer shall make available upon request to each Holder and each
proposed transferee of a Class A-PO, Class B-4, Class B-5 or Class B-6
Certificate such additional information, if any, as may be required to permit
the proposed transfer to be effected pursuant to Rule 144A.
SECTION 4.05 REPORTS TO MORTGAGORS AND THE INTERNAL REVENUE
SERVICE.
The Master Servicer shall, in each year beginning after the Cut-Off
Date, make the reports of foreclosures and abandonments of any Mortgaged
Property as required by Code Section 6050J. In order to facilitate this
reporting process, the Master Servicer shall request that each Servicer, on or
before January 15th of each year, shall provide to the Internal Revenue Service,
with copies to the Master Servicer, reports relating to each instance occurring
during the previous calendar year in which such Servicer (i) on behalf of the
Trustee acquires an interest in a Mortgaged Property through foreclosure or
other comparable conversion in full or partial satisfaction of a Mortgage Loan
serviced by such Servicer, or (ii) knows or has reason to know that a Mortgaged
Property has been abandoned. Reports from the Servicers shall be in form and
substance sufficient to meet the reporting requirements imposed by Code Section
6050J. In addition, each Servicer shall provide the Master Servicer with
sufficient information to allow the Master Servicer to, for each year ending
after the Cut-Off Date, provide, or cause to be provided, to the Internal
Revenue Service and the Mortgagors such information as is required under Code
Sections 6050H (regarding payment of interest) and 6050P (regarding cancellation
of indebtedness).
SECTION 4.06 CALCULATION OF AMOUNTS; BINDING EFFECT OF
INTERPRETATIONS AND ACTIONS OF MASTER SERVICER.
The Master Servicer will compute the amount of all distributions to
be made on the Certificates and all losses to be allocated to the Certificates.
In the event that the Master Servicer concludes that any ambiguity or
uncertainty exists in any provisions of this Agreement relating to distributions
to be made on the Certificates or the allocation of losses to the Certificates,
the interpretation of such provisions and any actions taken by the Master
Servicer in good faith to implement such interpretation shall be binding upon
Certificateholders.
<PAGE>
ARTICLE V
THE CERTIFICATES
SECTION 5.01 THE CERTIFICATES.
(a) The Class A and Class B Certificates shall be issued only in
minimum Denominations of a Single Certificate and, except for the Class A-PO and
Class A-R Certificates, integral multiples of $1,000 in excess thereof (except,
if necessary, for one Certificate of each Class (other than the Class A-PO and
Class A-R Certificates) that evidences one Single Certificate plus such
additional principal portion as is required in order for all Certificates of
such Class to equal the aggregate Original Principal Balance of such Class), and
shall be substantially in the respective forms set forth as Exhibits A-1, A-2,
A-3, A-4, A-5, A-6, A-7, A-8, A-9, A-10, A-11, A-12, A-PO, A-R, B-1, B-2, B-3,
B-4, B-5, B-6 and C (reverse side of Certificates) hereto. On original issue the
Certificates shall be executed and delivered by the Trustee to or upon the order
of the Seller upon receipt by the Trustee or the Custodian of the documents
specified in Section 2.01. The aggregate principal portion evidenced by the
Class A and Class B Certificates shall be the sum of the amounts specifically
set forth in the respective Certificates. The Certificates shall be executed by
manual or facsimile signature on behalf of the Trustee by any Responsible
Officer thereof. Certificates bearing the manual or facsimile signatures of
individuals who were at any time the proper officers of the Trustee shall bind
the Trustee notwithstanding that such individuals or any of them have ceased to
hold such offices prior to the authentication and delivery of such Certificates
or did not hold such offices at the date of such Certificates. No Certificate
shall be entitled to any benefit under this Agreement, or be valid for any
purpose, unless manually countersigned by a Responsible Officer of the Trustee,
or unless there appears on such Certificate a certificate of authentication
executed by the Authenticating Agent by manual signature, and such
countersignature or certificate upon a Certificate shall be conclusive evidence,
and the only evidence, that such Certificate has been duly authenticated and
delivered hereunder. All Certificates shall be dated the date of their
authentication.
Until such time as Definitive Certificates are issued pursuant to
Section 5.07, each Book-Entry Certificate shall bear the following legend:
"Unless this certificate is presented by an authorized
representative of [the Clearing Agency] to the Seller or its agent for
registration of transfer, exchange or payment, and any certificate issued is
registered in the name of [the Clearing Agency] or such other name as requested
by an authorized representative of [the Clearing Agency] and any payment is made
to [the Clearing Agency], any transfer, pledge or other use hereof for value or
otherwise by or to any person is wrongful since the registered owner hereof,
[the Clearing Agency], has an interest herein."
(b) Upon original issuance, the Book-Entry Certificates shall be
issued in the form of one or more typewritten certificates, to be delivered to
The Depository Trust Company, the initial Clearing Agency, by, or on behalf of,
the Seller; or to, and deposited with the Certificate Custodian, on behalf of
The Depository Trust Company, if directed to do so pursuant instructions from
The Depository Trust Company. Such Certificates shall initially be registered in
the Certificate Register in the name of the nominee of the initial Clearing
Agency, and no Beneficial Owner will receive a definitive certificate
representing such Beneficial Owner's interest in the Book-Entry Certificates,
except as provided in Section 5.07. Unless and until definitive, fully
registered certificates ("Definitive Certificates") have been issued to
Beneficial Owners pursuant to Section 5.07:
(i) the provisions of this Section 5.01(b) shall be in full force
and effect;
(ii) the Seller, the Master Servicer, the Certificate Registrar
and the Trustee may deal with the Clearing Agency for all purposes
(including the making of distributions on the Book-Entry Certificates and
the taking of actions by the Holders of Book-Entry Certificates) as the
authorized representative of the Beneficial Owners;
(iii) to the extent that the provisions of this Section 5.01(b)
conflict with any other provisions of this Agreement, the provisions of
this Section 5.01(b) shall control;
(iv) the rights of Beneficial Owners shall be exercised only
through the Clearing Agency and shall be limited to those established by
law, the rules, regulations and procedures of the Clearing Agency and
agreements between such Beneficial Owners and the Clearing Agency and/or
the Clearing Agency Participants, and all references in this Agreement to
actions by Certificateholders shall, with respect to the Book-Entry
Certificates, refer to actions taken by the Clearing Agency upon
instructions from the Clearing Agency Participants, and all references in
this Agreement to distributions, notices, reports and statements to
Certificateholders shall, with respect to the Book-Entry Certificates,
refer to distributions, notices, reports and statements to the Clearing
Agency or its nominee, as registered holder of the Book-Entry
Certificates, as the case may be, for distribution to Beneficial Owners in
accordance with the procedures of the Clearing Agency; and
(v) the initial Clearing Agency will make book-entry transfers
among the Clearing Agency Participants and receive and transmit
distributions of principal and interest on the Certificates to the
Clearing Agency Participants, for distribution by such Clearing Agency
Participants to the Beneficial Owners or their nominees.
For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of
Book-Entry Certificates evidencing specified Voting Interests, such direction or
consent shall be given by Beneficial Owners having the requisite Voting
Interests, acting through the Clearing Agency.
Unless and until Definitive Certificates have been issued to
Beneficial Owners pursuant to Section 5.07, copies of the reports or statements
referred to in Section 4.04 shall be available to Beneficial Owners upon written
request to the Trustee at the Corporate Trust Office.
SECTION 5.02 REGISTRATION OF CERTIFICATES.
(a) The Trustee shall cause to be kept at one of the offices or
agencies to be maintained in accordance with the provisions of Section 5.06 a
Certificate Register in which, subject to such reasonable regulations as it may
prescribe, the Trustee shall provide for the registration of Certificates and of
transfers and exchanges of Certificates as herein provided. The Trustee shall
act as, or shall appoint, a Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as herein provided.
Upon surrender for registration of transfer of any Certificate at
any office or agency maintained for such purpose pursuant to Section 5.06 (and
subject to the provisions of this Section 5.02) the Trustee shall execute, and
shall date, authenticate (or cause the Authenticating Agent to authenticate) and
deliver, in the name of the designated transferee or transferees, one or more
new Certificates of a like aggregate principal portion or Percentage Interest
and of the same Class.
At the option of the Certificateholders, Certificates may be
exchanged for other Certificates of authorized Denominations of a like aggregate
principal portion or Percentage Interest and of the same Class upon surrender of
the Certificates to be exchanged at any such office or agency. Whenever any
Certificates are so surrendered for exchange, the Trustee shall execute, and
shall date, authenticate (or cause the Authenticating Agent to authenticate) and
deliver, the Certificates which the Certificateholder making the exchange is
entitled to receive. Every Certificate presented or surrendered for transfer or
exchange shall (if so required by the Certificate Registrar or the Trustee) be
duly endorsed by, or be accompanied by a written instrument of transfer in form
satisfactory to the Certificate Registrar, duly executed by the Holder thereof
or his attorney duly authorized in writing.
No service charge shall be made for any transfer or exchange of
Certificates, but the Trustee or the Certificate Registrar may require payment
of a sum sufficient to cover any tax or governmental charge that may be imposed
in connection with any transfer or exchange of Certificates.
All Certificates surrendered for transfer and exchange shall be
canceled by the Certificate Registrar, the Trustee or the Authenticating Agent
in accordance with their standard procedures.
(b) No transfer of a Class A-PO, Class B-4, Class B-5 or Class B-6
Certificate shall be made unless the registration requirements of the Securities
Act of 1933, as amended, and any applicable State securities laws are complied
with, or such transfer is exempt from the registration requirements under said
Act and laws. In the event that a transfer is to be made in reliance upon an
exemption from said Act or laws, (i) unless such transfer is made in reliance on
Rule 144A, the Trustee or the Seller may, if such transfer is to be made within
three years after the later of (i) the date of the initial sale of Certificates
or (ii) the last date on which the Seller or any affiliate thereof was a Holder
of the Certificates proposed to be transferred, require a Class A-PO, Class B-4,
Class B-5 or Class B-6 Certificateholder to deliver a written Opinion of Counsel
acceptable to and in form and substance satisfactory to the Trustee and the
Seller, to the effect that such transfer may be made pursuant to an exemption,
describing the applicable exemption and the basis therefor, from said Act and
laws or is being made pursuant to said Act and laws, which Opinion of Counsel
shall not be an expense of the Trustee, the Seller or the Master Servicer, and
(ii) the Trustee shall require the transferee (other than an affiliate of the
Seller on the Closing Date) to execute an investment letter in the form of
Exhibit J hereto certifying to the Seller and the Trustee the facts surrounding
such transfer, which investment letter shall not be an expense of the Trustee,
the Seller or the Master Servicer. The Holder of a Class A-PO, Class B-4, Class
B-5 or Class B-6 Certificate desiring to effect such transfer shall, and does
hereby agree to, indemnify the Trustee, the Seller, the Master Servicer and any
Paying Agent acting on behalf of the Trustee against any liability that may
result if the transfer is not so exempt or is not made in accordance with such
federal and state laws. Neither the Seller nor the Trustee is under an
obligation to register the Class A-PO, Class B-4, Class B-5 or Class B-6
Certificates under said Act or any other securities law.
(c) No transfer of a Class A-PO or Class B Certificate shall be
made (other than the transfer of the Class A-PO Certificates to an affiliate of
the Seller on the Closing Date) unless the Trustee and the Seller shall have
received (i) a representation letter from the transferee in the form of Exhibit
J hereto, in the case of a Class A-PO, Class B-4, Class B-5 or Class B-6
Certificate, or in the form of Exhibit K hereto, in the case of a Class B-1,
Class B-2 or Class B-3 Certificate, to the effect that either (a) such
transferee is not an employee benefit plan or other retirement arrangement
subject to Title I of ERISA or Code Section 4975, or a governmental plan, as
defined in Section 3(32) of ERISA, subject to any federal, state or local law
("Similar Law") which is to a material extent similar to the foregoing
provisions of ERISA or the Code (collectively, a "Plan") and is not a person
acting on behalf of or using the assets of any such Plan, which representation
letter shall not be an expense of the Trustee, the Seller or the Master Servicer
or (b) with respect to the Class B Certificates only, if such transferee is an
insurance company, (A) the source of funds used to purchase the Class B
Certificates is an "insurance company general account" (as such term is defined
in Section V(e) of Prohibited Transaction Class Exemption 95-60 ("PTE 95-60"),
60 Fed. Reg. 35925 (July 12, 1995)), (B) there is no Plan with respect to which
the amount of such general account's reserves and liabilities for the
contract(s) held by or on behalf of such Plan and all other Plans maintained by
the same employer (or affiliate thereof as defined in Section V(a)(1) of PTE
95-60) or by the same employee organization exceeds 10% of the total of all
reserves and liabilities of such general account (as such amounts are determined
under Section I(a) of PTE 95-60) at the date of acquisition and (C) the purchase
and holding of such Class B Certificates is covered by Sections I and III of PTE
95-60 or (ii) in the case of any such Class A-PO or Class B Certificate
presented for registration in the name of a Plan, or a trustee of any such Plan,
(A) an Opinion of Counsel satisfactory to the Trustee and the Seller to the
effect that the purchase or holding of such Class A-PO or Class B Certificate
will not result in the assets of the Trust Estate being deemed to be "plan
assets" and subject to the prohibited transaction provisions of ERISA, the Code
or Similar Law and will not subject the Trustee, the Seller or the Master
Servicer to any obligation in addition to those undertaken in this Agreement,
which Opinion of Counsel shall not be an expense of the Trustee, the Seller or
the Master Servicer and (B) such other opinions of counsel, officer's
certificates and agreements as the Seller or the Master Servicer may require in
connection with such transfer, which opinions of counsel, officers' certificates
and agreements shall not be an expense of the Trustee, the Seller or the Master
Servicer. The Class A-PO and Class B Certificates shall bear a legend referring
to the foregoing restrictions contained in this paragraph.
(d) No legal or beneficial interest in all or any portion of the
Class A-R Certificate may be transferred directly or indirectly to a
"disqualified organization" within the meaning of Code Section 860E(e)(5) or an
agent of a disqualified organization (including a broker, nominee, or
middleman), to a Plan or a Person acting on behalf of or investing the assets of
a Plan (such Plan or Person, an "ERISA Prohibited Holder") or to an individual,
corporation, partnership or other person unless such transferee (i) is not a
Non-U.S. Person or (ii) is a Non-U.S. Person that holds the Class A-R
Certificate in connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or (iii) is a Non-U.S. Person that has
delivered to both the transferor and the Trustee an opinion of a nationally
recognized tax counsel to the effect that the transfer of the Class A-R
Certificate to it is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such transfer of the Class A-R
Certificate will not be disregarded for federal income tax purposes (any such
person who is not covered by clauses (i), (ii) or (iii) above being referred to
herein as a "Non-permitted Foreign Holder"), and any such purported transfer
shall be void and have no effect. The Trustee shall not execute, and shall not
authenticate (or cause the Authenticating Agent to authenticate) and deliver, a
new Class A-R Certificate in connection with any such transfer to a disqualified
organization or agent thereof (including a broker, nominee or middleman), an
ERISA Prohibited Holder or a Non-permitted Foreign Holder, and neither the
Certificate Registrar nor the Trustee shall accept a surrender for transfer or
registration of transfer, or register the transfer of, the Class A-R
Certificate, unless the transferor shall have provided to the Trustee an
affidavit, substantially in the form attached as Exhibit H hereto, signed by the
transferee, to the effect that the transferee is not such a disqualified
organization, an agent (including a broker, nominee, or middleman) for any
entity as to which the transferee has not received a substantially similar
affidavit, an ERISA Prohibited Holder or a Non-permitted Foreign Holder, which
affidavit shall contain the consent of the transferee to any such amendments of
this Agreement as may be required to further effectuate the foregoing
restrictions on transfer of the Class A-R Certificate to disqualified
organizations, ERISA Prohibited Holders or Non-permitted Foreign Holders. Such
affidavit shall also contain the statement of the transferee that (i) the
transferee has historically paid its debts as they have come due and intends to
do so in the future, (ii) the transferee understands that it may incur
liabilities in excess of cash flows generated by the residual interest, (iii)
the transferee intends to pay taxes associated with holding the residual
interest as they become due and (iv) the transferee will not transfer the Class
A-R Certificate to any Person who does not provide an affidavit substantially in
the form attached as Exhibit H hereto.
The affidavit described in the preceding paragraph, if not executed
in connection with the initial issuance of the Class A-R Certificate, shall be
accompanied by a written statement in the form attached as Exhibit I hereto,
signed by the transferor, to the effect that as of the time of the transfer, the
transferor has no actual knowledge that the transferee is a disqualified
organization, ERISA Prohibited Holder or Non-permitted Foreign Holder, and has
no knowledge or reason to know that the statements made by the transferee with
respect to clauses (i) and (iii) of the last sentence of the preceding paragraph
are not true. The Class A-R Certificate shall bear a legend referring to the
foregoing restrictions contained in this paragraph and the preceding paragraph.
Upon notice to the Master Servicer that any legal or beneficial
interest in any portion of the Class A-R Certificate has been transferred,
directly or indirectly, to a disqualified organization or agent thereof
(including a broker, nominee, or middleman) in contravention of the foregoing
restrictions, (i) such transferee shall be deemed to hold the Class A-R
Certificate in constructive trust for the last transferor who was not a
disqualified organization or agent thereof, and such transferor shall be
restored as the owner of such Class A-R Certificate as completely as if such
transfer had never occurred, provided that the Master Servicer may, but is not
required to, recover any distributions made to such transferee with respect to
the Class A-R Certificate, and (ii) the Master Servicer agrees to furnish to the
Internal Revenue Service and to any transferor of the Class A-R Certificate or
such agent (within 60 days of the request therefor by the transferor or agent)
such information necessary to the application of Code Section 860E(e) as may be
required by the Code, including but not limited to the present value of the
total anticipated excess inclusions with respect to the Class A-R Certificate
(or portion thereof) for periods after such transfer. At the election of the
Master Servicer, the cost to the Master Servicer of computing and furnishing
such information may be charged to the transferor or such agent referred to
above; however, the Master Servicer shall in no event be excused from furnishing
such information.
SECTION 5.03 MUTILATED, DESTROYED, LOST OR STOLEN CERTIFICATES.
If (i) any mutilated Certificate is surrendered to the Trustee or
the Authenticating Agent, or the Trustee or the Authenticating Agent receives
evidence to its satisfaction of the destruction, loss or theft of any
Certificate, and (ii) there is delivered to the Trustee or the Authenticating
Agent such security or indemnity as may be required by them to hold each of them
harmless, then, in the absence of notice to the Trustee or the Authenticating
Agent that such Certificate has been acquired by a bona fide purchaser, the
Trustee shall execute and authenticate (or cause the Authenticating Agent to
authenticate) and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Certificate, a new Certificate of like tenor and
principal portion or Percentage Interest and of the same Class. Upon the
issuance of any new Certificate under this Section, the Trustee or the
Certificate Registrar may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and any
other expense (including the fees and expenses of the Trustee or the
Authenticating Agent) in connection therewith. Any duplicate Certificate issued
pursuant to this Section shall constitute complete and indefeasible evidence of
ownership in the Trust Estate, as if originally issued, whether or not the lost,
stolen, or destroyed Certificate shall be found at any time.
SECTION 5.04 PERSONS DEEMED OWNERS.
Prior to the due presentation of a Certificate for registration of
transfer, the Seller, the Master Servicer, the Trustee, the Certificate
Registrar and any agent of the Seller, the Master Servicer, the Trustee or the
Certificate Registrar may treat the Person in whose name any Certificate is
registered as the owner of such Certificate for the purpose of receiving
distributions pursuant to Section 4.01, and for all other purposes whatsoever,
and neither the Seller, the Master Servicer, the Trustee, the Certificate
Registrar nor any agent of the Seller, the Master Servicer, the Trustee or the
Certificate Registrar shall be affected by notice to the contrary.
SECTION 5.05 ACCESS TO LIST OF CERTIFICATEHOLDERS' NAMES AND
ADDRESSES.
(a) If the Trustee is not acting as Certificate Registrar, the
Certificate Registrar shall furnish or cause to be furnished to the Trustee,
within 15 days after receipt by the Certificate Registrar of a request by the
Trustee in writing, a list, in such form as the Trustee may reasonably require,
of the names and addresses of the Certificateholders of each Class as of the
most recent Record Date.
(b) If five or more Certificateholders (hereinafter referred to as
"applicants") apply in writing to the Trustee, and such application states that
the applicants desire to communicate with other Certificateholders with respect
to their rights under this Agreement or under the Certificates and is
accompanied by a copy of the communication which such applicants propose to
transmit, then the Trustee shall, within five Business Days following the
receipt of such application, afford such applicants access during normal
business hours to the most recent list of Certificateholders held by the
Trustee. If such a list is as of the date more than 90 days prior to the date of
receipt of such applicants' request and the Trustee is not the Certificate
Registrar, the Trustee shall promptly request from the Certificate Registrar a
current list as provided in paragraph (a) hereof, and shall afford such
applicants access to such list promptly upon receipt.
(c) Every Certificateholder, by receiving and holding a
Certificate, agrees with the Seller, the Master Servicer, the Certificate
Registrar and the Trustee that neither the Seller, the Master Servicer, the
Certificate Registrar nor the Trustee shall be held accountable by reason of the
disclosure of any such information as to the names, addresses and Percentage
Interests of the Certificateholders hereunder, regardless of the source from
which such information was delivered.
SECTION 5.06 MAINTENANCE OF OFFICE OR AGENCY.
The Trustee will maintain, at its expense, an office or agency where
Certificates may be surrendered for registration of transfer or exchange and
where notices and demands to or upon the Certificate Registrar in respect of the
Certificates and this Agreement may be served. The Trustee initially designates
the Corporate Trust Office and the principal corporate trust office of the
Authenticating Agent, if any, as its offices and agencies for said purposes.
SECTION 5.07 DEFINITIVE CERTIFICATES.
If (i)(A) the Master Servicer advises the Trustee in writing that
the Clearing Agency is no longer willing or able properly to discharge its
responsibilities as depository with respect to the Book-Entry Certificates, and
(B) the Master Servicer is unable to locate a qualified successor, (ii) the
Master Servicer, at its option, advises the Trustee in writing that it elects to
terminate the book-entry system through the Clearing Agency, or (iii) after the
occurrence of dismissal or resignation of the Master Servicer, Beneficial Owners
representing aggregate Voting Interests of not less than 51% of the aggregate
Voting Interests of each outstanding Class of Book-Entry Certificates advise the
Trustee through the Clearing Agency and Clearing Agency Participants in writing
that the continuation of a book-entry system through the Clearing Agency is no
longer in the best interests of the Beneficial Owners, the Trustee shall notify
the Beneficial Owners, through the Clearing Agency, of the occurrence of any
such event and of the availability of Definitive Certificates to Beneficial
Owners requesting the same. Upon surrender to the Trustee by the Clearing Agency
of the Certificates held of record by its nominee, accompanied by reregistration
instructions and directions to execute and authenticate new Certificates from
the Master Servicer, the Trustee shall execute and authenticate Definitive
Certificates for delivery at its Corporate Trust Office. The Master Servicer
shall arrange for, and will bear all costs of, the printing and issuance of such
Definitive Certificates. Neither the Seller, the Master Servicer nor the Trustee
shall be liable for any delay in delivery of such instructions by the Clearing
Agency and may conclusively rely on, and shall be protected in relying on, such
instructions.
SECTION 5.08 NOTICES TO CLEARING AGENCY.
Whenever notice or other communication to the Holders of Book-Entry
Certificates is required under this Agreement, unless and until Definitive
Certificates shall have been issued to Beneficial Owners pursuant to Section
5.07, the Trustee shall give all such notices and communications specified
herein to be given to Holders of Book-Entry Certificates to the Clearing Agency.
<PAGE>
ARTICLE VI
THE SELLER AND THE MASTER SERVICER
SECTION 6.01 LIABILITY OF THE SELLER AND THE MASTER SERVICER.
The Seller and the Master Servicer shall each be liable in
accordance herewith only to the extent of the obligations specifically imposed
by this Agreement and undertaken hereunder by the Seller and the Master
Servicer.
SECTION 6.02 MERGER OR CONSOLIDATION OF THE SELLER OR THE
MASTER SERVICER.
Subject to the following paragraph, the Seller and the Master
Servicer each will keep in full effect its existence, rights and franchises as a
corporation under the laws of the jurisdiction of its incorporation, and will
obtain and preserve its qualification to do business as a foreign corporation in
each jurisdiction in which such qualification is or shall be necessary to
protect the validity and enforceability of this Agreement, the Certificates or
any of the Mortgage Loans and to perform its respective duties under this
Agreement.
The Seller or the Master Servicer may be merged or consolidated with
or into any Person, or transfer all or substantially all of its assets to any
Person, in which case any Person resulting from any merger or consolidation to
which the Seller or Master Servicer shall be a party, or any Person succeeding
to the business of the Seller or Master Servicer, shall be the successor of the
Seller or Master Servicer hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding; provided, however, that, in the case of
the Master Servicer, any such successor or resulting Person shall be qualified
to service mortgage loans for Fannie Mae or Freddie Mac.
SECTION 6.03 LIMITATION ON LIABILITY OF THE SELLER, THE
MASTER SERVICER AND OTHERS.
Neither the Seller nor the Master Servicer nor any subcontractor nor
any of the partners, directors, officers, employees or agents of any of them
shall be under any liability to the Trust Estate or the Certificateholders and
all such Persons shall be held harmless for any action taken or for refraining
from the taking of any action in good faith pursuant to this Agreement, or for
errors in judgment; provided, however, that this provision shall not protect any
such Person against any breach of warranties or representations made herein or
against any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of duties or by
reason of reckless disregard of obligations and duties hereunder. The Seller,
the Master Servicer, any subcontractor, and any partner, director, officer,
employee or agent of any of them shall be entitled to indemnification by the
Trust Estate and will be held harmless against any loss, liability or expense
incurred in connection with any legal action relating to this Agreement or the
Certificates, including, without limitation, any legal action against the
Trustee in its capacity as Trustee hereunder, other than any loss, liability or
expense (including, without limitation, expenses payable by the Master Servicer
under Section 8.06) incurred by reason of willful misfeasance, bad faith or
gross negligence in the performance of his or its duties hereunder or by reason
of reckless disregard of his or its obligations and duties hereunder. The
Seller, the Master Servicer and any of the directors, officers, employees or
agents of either may rely in good faith on any document of any kind which, prima
facie, is properly executed and submitted by any Person respecting any matters
arising hereunder. Neither the Seller nor the Master Servicer shall be under any
obligation to appear in, prosecute or defend any legal action unless such action
is related to its respective duties under this Agreement and which in its
opinion does not involve it in any expense or liability; provided, however, that
the Seller or the Master Servicer may in its discretion undertake any such
action which it may deem necessary or desirable with respect to this Agreement
and the rights and duties of the parties hereto and the interests of the
Certificateholders hereunder if the Certificateholders offer to the Seller or
the Master Servicer, as the case may be, reasonable security or indemnity
against the costs, expenses and liabilities which may be incurred therein or
thereby. In such event, the legal expenses and costs of such action and any
liability resulting therefrom shall be expenses, costs and liabilities of the
Trust Estate, and the Seller or the Master Servicer shall be entitled to be
reimbursed therefor out of the Certificate Account, and such amounts shall, on
the following Distribution Date or Distribution Dates, be allocated in reduction
of distributions on the Class A and Class B Certificates in the same manner as
Realized Losses are allocated pursuant to Section 4.02(a).
SECTION 6.04 RESIGNATION OF THE MASTER SERVICER.
The Master Servicer shall not resign from the obligations and duties
hereby imposed on it except upon determination that its duties hereunder are no
longer permissible under applicable law or are in material conflict by reason of
applicable law with any other activities carried on by it. Any such
determination permitting the resignation of the Master Servicer shall be
evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No
such resignation shall become effective until the Trustee or a successor
servicer shall have assumed the Master Servicer's responsibilities, duties,
liabilities and obligations hereunder.
SECTION 6.05 COMPENSATION TO THE MASTER SERVICER.
The Master Servicer shall be entitled to receive a monthly fee equal
to the Master Servicing Fee, as compensation for services rendered by the Master
Servicer under this Agreement. The Master Servicer also will be entitled to any
late reporting fees paid by a Servicer pursuant to its Servicing Agreement and
any investment income on funds on deposit in the Certificate Account as
additional compensation.
SECTION 6.06 ASSIGNMENT OR DELEGATION OF DUTIES BY MASTER
SERVICER.
The Master Servicer shall not assign or transfer any of its rights,
benefits or privileges under this Agreement to any other Person, or delegate to
or subcontract with, or authorize or appoint any other Person to perform any of
the duties, covenants or obligations to be performed by the Master Servicer
without the prior written consent of the Trustee, and any agreement, instrument
or act purporting to effect any such assignment, transfer, delegation or
appointment shall be void. Notwithstanding the foregoing, the Master Servicer
shall have the right without the prior written consent of the Trustee (i) to
assign its rights and delegate its duties and obligations hereunder; provided,
however, that (a) the purchaser or transferee accepting such assignment or
delegation is qualified to service mortgage loans for Fannie Mae or Freddie Mac,
is satisfactory to the Trustee, in the exercise of its reasonable judgment, and
executes and delivers to the Trustee an agreement, in form and substance
reasonably satisfactory to the Trustee, which contains an assumption by such
purchaser or transferee of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the Master Servicer
hereunder from and after the date of such agreement; and (b) each applicable
Rating Agency's rating of any Certificates in effect immediately prior to such
assignment, sale or transfer is not reasonably likely to be qualified,
downgraded or withdrawn as a result of such assignment, sale or transfer and the
Certificates are not reasonably likely to be placed on credit review status by
any such Rating Agency; and (ii) to delegate to, subcontract with, authorize, or
appoint an affiliate of the Master Servicer to perform and carry out any duties,
covenants or obligations to be performed and carried out by the Master Servicer
under this Agreement and hereby agrees so to delegate, subcontract, authorize or
appoint to an affiliate of the Master Servicer any duties, covenants or
obligations to be performed and carried out by the Master Servicer to the extent
that such duties, covenants or obligations are to be performed in any state or
states in which the Master Servicer is not authorized to do business as a
foreign corporation but in which the affiliate is so authorized. In no case,
however, shall any permitted assignment and delegation relieve the Master
Servicer of any liability to the Trustee or the Seller under this Agreement,
incurred by it prior to the time that the conditions contained in clause (i)
above are met.
SECTION 6.07 INDEMNIFICATION OF TRUSTEE AND SELLER BY MASTER
SERVICER.
The Master Servicer shall indemnify and hold harmless the Trustee
and the Seller and any director, officer or agent thereof against any loss,
liability or expense, including reasonable attorney's fees, arising out of, in
connection with or incurred by reason of willful misfeasance, bad faith or
negligence in the performance of duties of the Master Servicer under this
Agreement or by reason of reckless disregard of its obligations and duties under
this Agreement. Any payment pursuant to this Section made by the Master Servicer
to the Trustee or the Seller shall be from such entity's own funds, without
reimbursement therefor. The provisions of this Section 6.07 shall survive the
termination of this Agreement.
<PAGE>
ARTICLE VII
DEFAULT
SECTION 7.01 EVENTS OF DEFAULT.
In case one or more of the following Events of Default by the Master
Servicer shall occur and be continuing, that is to say:
(i) any failure by the Master Servicer (a) to remit any funds to
the Paying Agent as required by Section 4.03 or (b) to distribute or cause
to be distributed to Certificateholders any payment required to be made by
the Master Servicer under the terms of this Agreement which, in either
case, continues unremedied for a period of three business days after the
date upon which written notice of such failure, requiring the same to be
remedied, shall have been given to the Master Servicer by the Trustee or
to the Master Servicer and the Trustee by the holders of Certificates
evidencing in the aggregate not less than 25% of the aggregate Voting
Interest represented by all Certificates; or
(ii) any failure on the part of the Master Servicer duly to
observe or perform in any material respect any other of the covenants or
agreements on the part of the Master Servicer in the Certificates or in
this Agreement which continues unremedied for a period of 60 days after
the date on which written notice of such failure, requiring the same to be
remedied, shall have been given to the Master Servicer by the Trustee, or
to the Master Servicer and the Trustee by the holders of Certificates
evidencing in the aggregate not less than 25% of the aggregate Voting
Interest represented by all Certificates; or
(iii) a decree or order of a court or agency or supervisory
authority having jurisdiction in the premises for the appointment of a
trustee, conservator, receiver or liquidator in any bankruptcy,
insolvency, readjustment of debt, marshaling of assets and liabilities or
similar proceedings, or for the winding-up or liquidation of its affairs,
shall have been entered against the Master Servicer and such decree or
order shall have remained in force undischarged and unstayed for a period
of 60 days; or
(iv) the Master Servicer shall consent to the appointment of a
trustee, conservator, receiver or liquidator or liquidating committee in
any bankruptcy, insolvency, readjustment of debt, marshaling of assets and
liabilities, voluntary liquidation or similar proceedings of or relating
to the Master Servicer, or of or relating to all or substantially all of
its property; or
(v) the Master Servicer shall admit in writing its inability to
pay its debts generally as they become due, file a petition to take
advantage of any applicable insolvency, bankruptcy or reorganization
statute, make an assignment for the benefit of its creditors or
voluntarily suspend payment of its obligations;
(vi) the Master Servicer shall be dissolved, or shall dispose of
all or substantially all of its assets; or consolidate with or merge into
another entity or shall permit another entity to consolidate or merge into
it, such that the resulting entity does not meet the criteria for a
successor servicer, as specified in Section 6.02 hereof; or
(vii) the Master Servicer and any subservicer appointed by it
becomes ineligible to service for both Fannie Mae and Freddie Mac, which
ineligibility continues unremedied for a period of 90 days.
then, and in each and every such case, subject to applicable law, so long as an
Event of Default shall not have been remedied, either the Trustee or the holders
of Certificates evidencing in the aggregate not less than 66 2/3% of the
aggregate Voting Interest represented by all Certificates, by notice in writing
to the Master Servicer (and to the Trustee if given by the Certificateholders)
may terminate all of the rights and obligations of the Master Servicer under
this Agreement and in and to the Mortgage Loans, but without prejudice to any
rights which the Master Servicer may have to the aggregate Master Servicing Fees
due prior to the date of transfer of the Master Servicer's responsibilities
hereunder, reimbursement of expenses to the extent permitted by this Agreement,
Periodic Advances and other advances of its own funds. Upon receipt by the
Master Servicer of such written notice, all authority and power of the Master
Servicer under this Agreement, whether with respect to the Certificates or the
Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant
to and under this Section, subject to the provisions of Section 7.05; and,
without limitation, the Trustee is hereby authorized and empowered to execute
and deliver, on behalf of the Master Servicer, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other
acts or things necessary or appropriate to effect the purposes of such notice of
termination, whether to complete the transfer and endorsement or assignment of
the Mortgage Loans and related documents or otherwise. The Master Servicer
agrees to cooperate with the Trustee in effecting the termination of the Master
Servicer's responsibilities and rights hereunder and shall promptly provide the
Trustee all documents and records reasonably requested by it to enable it to
assume the Master Servicer's functions hereunder and shall promptly also
transfer to the Trustee all amounts which then have been or should have been
deposited in the Certificate Account by the Master Servicer or which are
thereafter received by the Master Servicer with respect to the Mortgage Loans.
SECTION 7.02 OTHER REMEDIES OF TRUSTEE.
During the continuance of any Event of Default, so long as such
Event of Default shall not have been remedied, the Trustee, in addition to the
rights specified in Section 7.01, shall have the right, in its own name as
trustee of an express trust, to take all actions now or hereafter existing at
law, in equity or by statute to enforce its rights and remedies and to protect
the interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and
other proceedings and the filing of proofs of claim and debt in connection
therewith). Except as otherwise expressly provided in this Agreement, no remedy
provided for by this Agreement shall be exclusive of any other remedy, and each
and every remedy shall be cumulative and in addition to any other remedy and no
delay or omission to exercise any right or remedy shall impair any such right or
remedy or shall be deemed to be a waiver of any Event of Default.
SECTION 7.03 DIRECTIONS BY CERTIFICATEHOLDERS AND DUTIES OF
TRUSTEE DURING EVENT OF DEFAULT.
During the continuance of any Event of Default, Holders of
Certificates evidencing in the aggregate not less than 25% of the aggregate
Voting Interest represented by all Certificates may direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Agreement;
provided, however, that the Trustee shall be under no obligation to pursue any
such remedy, or to exercise any of the rights or powers vested in it by this
agreement (including, without limitation, (i) the conducting or defending of any
administrative action or litigation hereunder or in relation hereto and (ii) the
terminating of the Master Servicer from its rights and duties as servicer
hereunder) at the request, order or direction of any of the Certificateholders,
unless such Certificateholders shall have offered to the Trustee reasonable
security or indemnity against the cost, expenses and liabilities which may be
incurred therein or thereby and, provided further, that, subject to the
provisions of Section 8.01, the Trustee shall have the right to decline to
follow any such direction if the Trustee, in accordance with an Opinion of
Counsel, determines that the action or proceeding so directed may not lawfully
be taken or if the Trustee in good faith determines that the action or
proceeding so directed would involve it in personal liability or be unjustly
prejudicial to the nonassenting Certificateholders.
SECTION 7.04 ACTION UPON CERTAIN FAILURES OF THE MASTER
SERVICER AND UPON EVENT OF DEFAULT.
In the event that the Trustee shall have knowledge of any failure of
the Master Servicer specified in Section 7.01(i) or (ii) which would become an
Event of Default upon the Master Servicer's failure to remedy the same after
notice, the Trustee may, but need not if the Trustee deems it not in the
Certificateholders' best interest, give notice thereof to the Master Servicer.
For all purposes of this Agreement, in the absence of actual knowledge by a
corporate trust officer of the Trustee, the Trustee shall not be deemed to have
knowledge of any failure of the Master Servicer as specified in Section 7.01(i)
and (ii) or any Event of Default unless notified thereof in writing by the
Master Servicer or by a Certificateholder.
SECTION 7.05 TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR.
When the Master Servicer receives notice of termination pursuant to
Section 7.01 or the Trustee receives the resignation of the Master Servicer
evidenced by an Opinion of Counsel pursuant to Section 6.04, the Trustee shall
be the successor in all respects to the Master Servicer in its capacity as
master servicer under this Agreement and the transactions set forth or provided
for herein and shall have the rights and powers and be subject to all the
responsibilities, duties and liabilities relating thereto placed on the Master
Servicer by the terms and provisions hereof and in its capacity as such
successor shall have the same limitation of liability herein granted to the
Master Servicer. In the event that the Trustee is succeeding to the Master
Servicer as the Master Servicer, as compensation therefor, the Trustee shall be
entitled to receive monthly such portion of the Master Servicing Fee, together
with such other servicing compensation as is agreed to at such time by the
Trustee and the Master Servicer, but in no event more than 25% thereof until the
date of final cessation of the Master Servicer's servicing activities hereunder.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so act,
or shall, if it is unable to so act or to obtain a qualifying bid as described
below, appoint, or petition a court of competent jurisdiction to appoint, any
housing and home finance institution, bank or mortgage servicing institution
having a net worth of not less than $10,000,000 and meeting such other standards
for a successor servicer as are set forth herein, as the successor to the Master
Servicer hereunder in the assumption of all or any part of the responsibilities,
duties or liabilities of the Master Servicer hereunder; provided, however, that
until such a successor master servicer is appointed and has assumed the
responsibilities, duties and liabilities of the Master Servicer hereunder, the
Trustee shall continue as the successor to the Master Servicer as provided
above. The compensation of any successor master servicer so appointed shall not
exceed the compensation specified in Section 6.05 hereof. In the event the
Trustee is required to solicit bids as provided above, the Trustee shall
solicit, by public announcement, bids from housing and home finance
institutions, banks and mortgage servicing institutions meeting the
qualifications set forth in the preceding sentence for the purchase of the
master servicing functions. Such public announcement shall specify that the
successor master servicer shall be entitled to the full amount of the Master
Servicing Fee as compensation together with the other servicing compensation in
the form of late reporting fees or otherwise as provided in Section 6.05. Within
30 days after any such public announcement, the Trustee shall negotiate and
effect the sale, transfer and assignment of the master servicing rights and
responsibilities hereunder to the qualified party submitting the highest
qualifying bid. The Trustee shall deduct all costs and expenses of any public
announcement and of any sale, transfer and assignment of the servicing rights
and responsibilities hereunder from any sum received by the Trustee from the
successor to the Master Servicer in respect of such sale, transfer and
assignment. After such deductions, the remainder of such sum shall be paid by
the Trustee to the Master Servicer at the time of such sale, transfer and
assignment to the Master Servicer's successor. The Trustee and such successor
shall take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession. The Master Servicer agrees to cooperate with the
Trustee and any successor servicer in effecting the termination of the Master
Servicer's servicing responsibilities and rights hereunder and shall promptly
provide the Trustee or such successor master servicer, as applicable, all
documents and records reasonably requested by it to enable it to assume the
Master Servicer's function hereunder and shall promptly also transfer to the
Trustee or such successor master servicer, as applicable, all amounts which then
have been or should have been deposited in the Certificate Account by the Master
Servicer or which are thereafter received by the Master Servicer with respect to
the Mortgage Loans. Neither the Trustee nor any other successor master servicer
shall be deemed to be in default hereunder by reason of any failure to make, or
any delay in making, any distribution hereunder or any portion thereof caused by
(i) the failure of the Master Servicer to deliver, or any delay in delivering,
cash, documents or records to it, or (ii) restrictions imposed by any regulatory
authority having jurisdiction over the Master Servicer. Notwithstanding anything
to the contrary contained in Section 7.01 above or this Section 7.05, the Master
Servicer shall retain all of its rights and responsibilities hereunder, and no
successor (including the Trustee) shall succeed thereto, if the assumption
thereof by such successor would cause the rating assigned to any Certificates to
be revoked, downgraded or placed on credit review status (other than for
possible upgrading) by either Rating Agency and the retention thereof by the
Master Servicer would avert such revocation, downgrading or review.
SECTION 7.06 NOTIFICATION TO CERTIFICATEHOLDERS.
Upon any termination of the Master Servicer or appointment of a
successor master servicer, in each case as provided herein, the Trustee shall
give prompt written notice thereof to Certificateholders at their respective
addresses appearing in the Certificate Register. The Trustee shall also, within
45 days after the occurrence of any Event of Default known to the Trustee, give
written notice thereof to Certificateholders at their respective addresses
appearing in the Certificate Register, unless such Event of Default shall have
been cured or waived within said 45 day period.
<PAGE>
ARTICLE VIII
CONCERNING THE TRUSTEE
SECTION 8.01 DUTIES OF TRUSTEE.
The Trustee, prior to the occurrence of an Event of Default and
after the curing of all Events of Default which may have occurred, undertakes to
perform such duties and only such duties as are specifically set forth in this
Agreement. In case an Event of Default has occurred (which has not been cured),
the Trustee, subject to the provisions of Sections 7.01, 7.03, 7.04 and 7.05,
shall exercise such of the rights and powers vested in it by this Agreement, and
use the same degree of care and skill in its exercise as a prudent investor
would exercise or use under the circumstances in the conduct of such investor's
own affairs.
The Trustee, upon receipt of all resolutions, certificates,
statements, opinions, reports, documents, orders or other instruments furnished
to the Trustee, which are specifically required to be furnished pursuant to any
provision of this Agreement, shall examine them to determine whether they are in
the form required by this Agreement; provided, however, that the Trustee shall
not be responsible for the accuracy or content of any certificate, statement,
instrument, report, notice or other document furnished by the Master Servicer or
the Servicers pursuant to Articles III, IV and IX.
No provision of this Agreement shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act or its own willful misconduct; provided, however, that:
(i) Prior to the occurrence of an Event of Default and after the
curing of all such Events of Default which may have occurred, the duties
and obligations of the Trustee shall be determined solely by the express
provisions of this Agreement, the Trustee shall not be liable except for
the performance of such duties and obligations as are specifically set
forth in this Agreement, no implied covenants or obligations shall be read
into this Agreement against the Trustee and, in the absence of bad faith
on the part of the Trustee, the Trustee may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed
therein, upon any certificates or opinions furnished to the Trustee, and
conforming to the requirements of this Agreement;
(ii) The Trustee shall not be personally liable with respect to
any action taken, suffered or omitted to be taken by it in good faith in
accordance with the direction of holders of Certificates which evidence in
the aggregate not less than 25% of the Voting Interest represented by all
Certificates relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee, under this Agreement; and
(iii) The Trustee shall not be liable for any error of judgment
made in good faith by any of its Responsible Officers, unless it shall be
proved that the Trustee or such Responsible Officer, as the case may be,
was negligent in ascertaining the pertinent facts.
None of the provisions contained in this Agreement shall require the
Trustee to expend or risk its own funds or otherwise incur personal financial
liability in the performance of any of its duties hereunder or in the exercise
of any of its rights or powers if there is reasonable ground for believing that
repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.
SECTION 8.02 CERTAIN MATTERS AFFECTING THE TRUSTEE.
Except as otherwise provided in Section 8.01:
(i) The Trustee may request and rely and shall be protected in
acting or refraining from acting upon any resolution, Officers'
Certificate, certificate of auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent, order, appraisal,
bond or other paper or document believed by it to be genuine and to have
been signed or presented by the proper party or parties and the manner of
obtaining consents and evidencing the authorization of the execution
thereof shall be subject to such reasonable regulations as the Trustee may
prescribe;
(ii) The Trustee may consult with counsel, and any written advice
of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or suffered or
omitted by it hereunder in good faith and in accordance with such advice
or Opinion of Counsel;
(iii) The Trustee shall not be personally liable for any action
taken, suffered or omitted by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it
by this Agreement;
(iv) Subject to Section 7.04, the Trustee shall not be
accountable, shall have no liability and makes no representation as to any
acts or omissions hereunder of the Master Servicer until such time as the
Trustee may be required to act as Master Servicer pursuant to Section 7.05
and thereupon only for the acts or omissions of the Trustee as successor
Master Servicer; and
(v) The Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or
attorneys.
SECTION 8.03 TRUSTEE NOT REQUIRED TO MAKE INVESTIGATION.
Prior to the occurrence of an Event of Default hereunder and after
the curing of all Events of Default which may have occurred, the Trustee shall
not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, appraisal, bond, Mortgage, Mortgage Note or other paper
or document (provided the same appears regular on its face), unless requested in
writing to do so by holders of Certificates evidencing in the aggregate not less
than 51% of the Voting Interest represented by all Certificates; provided,
however, that if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Agreement, the
Trustee may require reasonable indemnity against such expense or liability as a
condition to so proceeding. The reasonable expense of every such investigation
shall be paid by the Master Servicer or, if paid by the Trustee shall be repaid
by the Master Servicer upon demand.
SECTION 8.04 TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE
LOANS.
The recitals contained herein and in the Certificates (other than
the certificate of authentication on the Certificates) shall be taken as the
statements of the Seller, and the Trustee assumes no responsibility as to the
correctness of the same. The Trustee makes no representation for the correctness
of the same. The Trustee makes no representation as to the validity or
sufficiency of this Agreement or of the Certificates or of any Mortgage Loan or
related document. Subject to Section 2.04, the Trustee shall not be accountable
for the use or application by the Seller of any of the Certificates or of the
proceeds of such Certificates, or for the use or application of any funds paid
to the Master Servicer in respect of the Mortgage Loans deposited into the
Certificate Account by the Master Servicer or, in its capacity as trustee, for
investment of any such amounts.
SECTION 8.05 TRUSTEE MAY OWN CERTIFICATES.
The Trustee, and any agent thereof, in its individual or any other
capacity, may become the owner or pledgee of Certificates with the same rights
it would have if it were not Trustee or such agent and may transact banking
and/or trust business with the Seller, the Master Servicer or their Affiliates.
SECTION 8.06 THE MASTER SERVICER TO PAY FEES AND EXPENSES.
The Master Servicer covenants and agrees to pay to the Trustee from
time to time, and the Trustee shall be entitled to receive, reasonable
compensation (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust) for all services rendered by
it in the execution of the trusts hereby created and in the exercise and
performance of any of the powers and duties hereunder of the Trustee and the
Master Servicer will pay or reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by it in
accordance with any of the provisions of this Agreement (including the
reasonable compensation and the expenses and disbursements of its counsel and of
all persons not regularly in its employ) except any such expense, disbursement,
or advance as may arise from its negligence or bad faith.
SECTION 8.07 ELIGIBILITY REQUIREMENTS.
The Trustee hereunder shall at all times (i) be a corporation or
association having its principal office in a state and city acceptable to the
Seller, organized and doing business under the laws of such state or the United
States of America, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least $50,000,000, or shall
be a member of a bank holding system, the aggregate combined capital and surplus
of which is at least $50,000,000, provided that its separate capital and surplus
shall at all times be at least the amount specified in Section 310(a)(2) of the
Trust Indenture Act of 1939, (ii) be subject to supervision or examination by
federal or state authority and (iii) have a credit rating or be otherwise
acceptable to the Rating Agencies such that neither of the Rating Agencies would
reduce their respective then current ratings of the Certificates (or have
provided such security from time to time as is sufficient to avoid such
reduction) as evidenced in writing by each Rating Agency. If such corporation or
association publishes reports of condition at least annually, pursuant to law or
to the requirements of the aforesaid supervising or examining authority, then
for the purposes of this Section the combined capital and surplus of such
corporation or association shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. In
case at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, the Trustee shall resign immediately in the manner
and with the effect specified in Section 8.08.
SECTION 8.08 RESIGNATION AND REMOVAL.
The Trustee may at any time resign and be discharged from the trust
hereby created by giving written notice of resignation to the Master Servicer,
such resignation to be effective upon the appointment of a successor trustee.
Upon receiving such notice of resignation, the Master Servicer shall promptly
appoint a successor trustee by written instrument, in duplicate, one copy of
which instrument shall be delivered to the resigning entity and one copy to its
successor. If no successor trustee shall have been appointed and have accepted
appointment within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee.
If at any time the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.07 and shall fail to resign after written
request for its resignation by the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or an order for relief shall have been
entered in any bankruptcy or insolvency proceeding with respect to such entity,
or a receiver of such entity or of its property shall be appointed, or any
public officer shall take charge or control of the Trustee or of the property or
affairs of the Trustee for the purpose of rehabilitation, conversion or
liquidation, or the Master Servicer shall deem it necessary in order to change
the situs of the Trust Estate for state tax reasons, then the Master Servicer
shall remove the Trustee and appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee.
The Holders of Certificates evidencing in the aggregate not less
than 51% of the Voting Interests represented by all Certificates (except that
any Certificate registered in the name of the Seller, the Master Servicer or any
affiliate thereof will not be taken into account in determining whether the
requisite Voting Interests has been obtained) may at any time remove the Trustee
and appoint a successor by written instrument or instruments, in triplicate,
signed by such holders or their attorneys-in-fact duly authorized, one complete
set of which instruments shall be delivered to the Master Servicer, one complete
set of which shall be delivered to the entity or entities so removed and one
complete set of which shall be delivered to the successor so appointed.
Any resignation or removal of the Trustee and appointment of a
successor pursuant to any of the provisions of this Section shall become
effective upon acceptance of appointment by the successor as provided in Section
8.09.
SECTION 8.09 SUCCESSOR.
Any successor trustee appointed as provided in Section 8.08 shall
execute, acknowledge and deliver to the Master Servicer and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor trustee shall become effective, and
such successor, without any further act, deed or reconveyance, shall become
fully vested with all the rights, powers, duties and obligations of its
predecessor hereunder, with like effect as if originally named as trustee
herein. The predecessor trustee shall deliver to its successor all Owner
Mortgage Loan Files and related documents and statements held by it hereunder
(other than any Owner Mortgage Loan Files at the time held by a Custodian, which
Custodian shall become the agent of any successor trustee hereunder), and the
Seller, the Master Servicer and the predecessor entity shall execute and deliver
such instruments and do such other things as may reasonably be required for more
fully and certainly vesting and confirming in the successor trustee all such
rights, powers, duties and obligations. No successor shall accept appointment as
provided in this Section unless at the time of such acceptance such successor
shall be eligible under the provisions of Section 8.07
Upon acceptance of appointment by a successor as provided in this
Section, the Master Servicer shall mail notice of the succession of such trustee
hereunder to all Holders of Certificates at their addresses as shown in the
Certificate Register. If the Master Servicer fails to mail such notice within
ten days after acceptance of the successor trustee, the successor trustee shall
cause such notice to be mailed at the expense of the Master Servicer.
SECTION 8.10 MERGER OR CONSOLIDATION.
Any Person into which the Trustee may be merged or converted or with
which it may be consolidated, to which it may sell or transfer its corporate
trust business and assets as a whole or substantially as a whole or any Person
resulting from any merger, sale, transfer, conversion or consolidation to which
the Trustee shall be a party, or any Person succeeding to the business of such
entity, shall be the successor of the Trustee hereunder; provided, however, that
(i) such Person shall be eligible under the provisions of Section 8.07, without
the execution or filing of any paper or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding, and (ii)
the Trustee shall deliver an Opinion of Counsel to the Seller and the Master
Servicer to the effect that such merger, consolidation, sale or transfer will
not subject the REMIC to federal, state or local tax or cause the REMIC to fail
to qualify as a REMIC, which Opinion of Counsel shall be at the sole expense of
the Trustee.
SECTION 8.11 AUTHENTICATING AGENT.
The Trustee may appoint an Authenticating Agent, which shall be
authorized to act on behalf of the Trustee in authenticating Certificates.
Wherever reference is made in this Agreement to the authentication of
Certificates by the Trustee or the Trustee's countersignature, such reference
shall be deemed to include authentication on behalf of the Trustee by the
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by the Authenticating Agent. The Authenticating Agent must be
acceptable to the Seller and the Master Servicer and must be a corporation
organized and doing business under the laws of the United States of America or
of any state, having a principal office and place of business in a state and
city acceptable to the Seller and the Master Servicer, having a combined capital
and surplus of at least $15,000,000, authorized under such laws to do a trust
business and subject to supervision or examination by federal or state
authorities.
Any corporation into which the Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency business
of the Authenticating Agent, shall be the Authenticating Agent without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.
The Authenticating Agent may at any time resign by giving at least
30 days' advance written notice of resignation to the Trustee, the Seller and
the Master Servicer. The Trustee may at any time terminate the agency of the
Authenticating Agent by giving written notice thereof to the Authenticating
Agent, the Seller and the Master Servicer. Upon receiving a notice of
resignation or upon such a termination, or in case at any time the
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 8.11, the Trustee promptly shall appoint a successor
Authenticating Agent, which shall be acceptable to the Master Servicer, and
shall give written notice of such appointment to the Seller, and shall mail
notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers, duties and responsibilities of its
predecessor hereunder, with like effect as if originally named as Authenticating
Agent herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section 8.11.
The Authenticating Agent shall have no responsibility or liability
for any action taken by it as such at the direction of the Trustee. Any
reasonable compensation paid to the Authenticating Agent shall be a reimbursable
expense under Section 8.06.
SECTION 8.12 SEPARATE TRUSTEES AND CO-TRUSTEES.
The Trustee shall have the power from time to time to appoint one or
more persons or corporations to act either as co-trustees jointly with the
Trustee, or as separate trustees, for the purpose of holding title to,
foreclosing or otherwise taking action with respect to any Mortgage Loan outside
the state where the Trustee has its principal place of business, where such
separate trustee or co-trustee is necessary or advisable (or the Trustee is
advised by the Master Servicer that such separate trustee or co-trustee is
necessary or advisable) under the laws of any state in which a Mortgaged
Property is located or for the purpose of otherwise conforming to any legal
requirement, restriction or condition in any state in which a Mortgaged Property
is located or in any state in which any portion of the Trust Estate is located.
The Master Servicer shall advise the Trustee when, in its good faith opinion, a
separate trustee or co-trustee is necessary or advisable as aforesaid. The
separate trustees or co-trustees so appointed shall be trustees for the benefit
of all of the Certificateholders and shall have such powers, rights and remedies
as shall be specified in the instrument of appointment; provided, however, that
no such appointment shall, or shall be deemed to, constitute the appointee an
agent of the Trustee. The Seller and the Master Servicer shall join in any such
appointment, but such joining shall not be necessary for the effectiveness of
such appointment.
Every separate trustee and co-trustee shall, to the extent permitted
by law, be appointed and act subject to the following provisions and conditions:
(i) all powers, duties, obligations and rights conferred upon the
Trustee, in respect of the receipt, custody and payment of moneys shall be
exercised solely by the Trustee;
(ii) all other rights, powers, duties and obligations conferred
or imposed upon the Trustee shall be conferred or imposed upon and
exercised or performed by the Trustee and such separate trustee or
co-trustee jointly, except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be performed
(whether as Trustee hereunder or as successor to the Master Servicer
hereunder) the Trustee shall be incompetent or unqualified to perform such
act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Estate or any portion thereof
in any such jurisdiction) shall be exercised and performed by such
separate trustee or co-trustee;
(iii) no separate trustee or co-trustee hereunder shall be
personally liable by reason of any act or omission of any other separate
trustee or co-trustee hereunder; and
(iv) the Trustee may at any time accept the resignation of or
remove any separate trustee or co-trustee so appointed by it, if such
resignation or removal does not violate the other terms of this Agreement.
Any notice, request or other writing given to the Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee, co-trustee, or custodian shall refer to this Agreement and the
conditions of this Article. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Trustee, or
separately, as may be provided therein, subject to all the provisions of this
Agreement, specifically including every provision of this Agreement relating to
the conduct of, affecting the liability of, or affording protection to, the
Trustee. Every such instrument shall be furnished to the Trustee.
Any separate trustee, co-trustee, or custodian may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full power and
authority, to the extent not prohibited by law, to do any lawful act under or in
respect of this Agreement on its behalf and in its name. If any separate trustee
or co-trustee shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Trustee to the extent permitted by law, without the appointment
of a new or successor trustee.
No separate trustee or co-trustee hereunder shall be required to
meet the terms of eligibility as a successor trustee under Section 8.07
hereunder and no notice to Certificateholders of the appointment thereof shall
be required under Section 8.09 hereof.
The Trustee agrees to instruct its co-trustees, if any, to the
extent necessary to fulfill such entity's obligations hereunder.
The Master Servicer shall pay the reasonable compensation of the
co-trustees to the extent, and in accordance with the standards, specified in
Section 8.06 hereof.
SECTION 8.13 APPOINTMENT OF CUSTODIANS.
The Trustee may at any time on or after the Closing Date, with the
consent of the Master Servicer and the Seller, appoint one or more Custodians to
hold all or a portion of the Owner Mortgage Loan Files as agent for the Trustee,
by entering into a Custodial Agreement. Subject to this Article VIII, the
Trustee agrees to comply with the terms of each Custodial Agreement and to
enforce the terms and provisions thereof against the Custodian for the benefit
of the Certificateholders. Each Custodian shall be a depository institution
subject to supervision by federal or state authority, shall have a combined
capital and surplus of at least $10,000,000 and shall be qualified to do
business in the jurisdiction in which it holds any Owner Mortgage Loan File.
Each Custodial Agreement may be amended only as provided in Section 10.01(a).
SECTION 8.14 TAX MATTERS; COMPLIANCE WITH REMIC PROVISIONS.
(a) Each of the Trustee and the Master Servicer covenants and
agrees that it shall perform its duties hereunder in a manner consistent with
the REMIC Provisions and shall not knowingly take any action or fail to take any
action that would (i) affect the determination of the Trust Estate's status as a
REMIC; or (ii) cause the imposition of any federal, state or local income,
prohibited transaction, contribution or other tax on either the REMIC or the
Trust Estate. The Master Servicer, or, in the case of any tax return or other
action required by law to be performed directly by the Trustee, the Trustee,
shall (i) prepare or cause to be prepared, timely cause to be signed by the
Trustee and file or cause to be filed annual federal and applicable state and
local income tax returns using a calendar year as the taxable year for the REMIC
and the accrual method of accounting; (ii) in the first such federal tax return,
make, or cause to be made, elections satisfying the requirements of the REMIC
Provisions, on behalf of the Trust Estate, to treat the Trust Estate as a REMIC;
(iii) prepare, execute and forward, or cause to be prepared, executed and
forwarded, to the Certificateholders all information reports or tax returns
required with respect to the REMIC, as and when required to be provided to the
Certificateholders, and to the Internal Revenue Service and any other relevant
governmental taxing authority in accordance with the REMIC Provisions and any
other applicable federal, state or local laws, including without limitation
information reports relating to "original issue discount" and "market discount"
as defined in the Code based upon the issue prices, prepayment assumption and
cash flows provided by the Seller to the Trustee and calculated on a monthly
basis by using the issue prices of the Certificates; (iv) make available
information necessary for the application of any tax imposed on transferors of
residual interests to "disqualified organizations" (as defined in the REMIC
Provisions); (v) file Form 8811 and apply for an Employee Identification Number
with a Form SS-4 or any other permissible method and respond to inquiries by
Certificateholders or their nominees concerning information returns, reports or
tax returns; (vi) maintain (or cause to be maintained by the Servicers) such
records relating to the REMIC, including but not limited to the income,
expenses, individual Mortgage Loans (including REO Mortgage Loans, other assets
and liabilities of the REMIC, and the fair market value and adjusted basis of
the REMIC property determined at such intervals as may be required by the Code,
as may be necessary to prepare the foregoing returns or information reports;
(vii) exercise reasonable care not to allow the creation of any "interests" in
the REMIC within the meaning of Code Section 860D(a)(2) other than the interests
represented by the Class A-1, Class A-2, Class A-3, Class A-4, Clas A-5, Class
A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class
A-PO and Class A-R Certificates and the Class B-1, Class B-2, Class B-3, Class
B-4, Class B-5 and Class B-6 Certificates; (viii) exercise reasonable care not
to allow the occurrence of any "prohibited transactions" within the meaning of
Code Section 860F(a), unless the Master Servicer shall have provided an Opinion
of Counsel to the Trustee that such occurrence would not (a) result in a taxable
gain, (b) otherwise subject either the Trust Estate or the REMIC to tax or (c)
cause the Trust Estate to fail to qualify as a REMIC; (ix) exercise reasonable
care not to allow the REMIC to receive income from the performance of services
or from assets not permitted under the REMIC Provisions to be held by a REMIC;
(x) pay (on behalf of the REMIC) the amount of any federal income tax,
including, without limitation, prohibited transaction taxes, taxes on net income
from foreclosure property, and taxes on certain contributions to a REMIC after
the Startup Day, imposed on the REMIC, when and as the same shall be due and
payable (but such obligation shall not prevent the Master Servicer or any other
appropriate Person from contesting any such tax in appropriate proceedings and
shall not prevent the Master Servicer from withholding or depositing payment of
such tax, if permitted by law, pending the outcome of such proceedings); and
(xi) if required or permitted by the Code and applicable law, act as "tax
matters person" for the REMIC within the meaning of Treasury Regulations Section
1.860F-4(d), and the Master Servicer is hereby designated as agent of the Class
A-R Certificateholder for such purpose (or if the Master Servicer is not so
permitted, the Holder of the Class A-R Certificate shall be the tax matters
person in accordance with the REMIC Provisions). The Master Servicer shall be
entitled to be reimbursed pursuant to Section 3.02 for any taxes paid by it
pursuant to clause (x) of the preceding sentence, except to the extent that such
taxes are imposed as a result of the bad faith, willful misfeasance or gross
negligence of the Master Servicer in the performance of its obligations
hereunder. The Trustee shall sign the tax returns referred to in clause (i) of
the second preceding sentence.
In order to enable the Master Servicer or the Trustee, as the case
may be, to perform its duties as set forth above, the Seller shall provide, or
cause to be provided, to the Master Servicer within ten days after the Closing
Date all information or data that the Master Servicer determines to be relevant
for tax purposes to the valuations and offering prices of the Certificates,
including, without limitation, the price, yield, prepayment assumption and
projected cash flows of each Class of Certificates and the Mortgage Loans in the
aggregate. Thereafter, the Seller shall provide to the Master Servicer or the
Trustee, as the case may be, promptly upon request therefor, any such additional
information or data that the Master Servicer or the Trustee, as the case may be,
may from time to time request in order to enable the Master Servicer to perform
its duties as set forth above. The Seller hereby indemnifies the Master Servicer
or the Trustee, as the case may be, for any losses, liabilities, damages, claims
or expenses of the Master Servicer or the Trustee arising from any errors or
miscalculations by the Master Servicer or the Trustee pursuant to this Section
that result from any failure of the Seller to provide, or to cause to be
provided, accurate information or data to the Master Servicer or the Trustee, as
the case may be, on a timely basis. The Master Servicer hereby indemnifies the
Seller and the Trustee for any losses, liabilities, damages, claims or expenses
of the Seller or the Trustee arising from the Master Servicer's willful
misfeasance, bad faith or gross negligence in preparing any of the federal,
state and local tax returns of the REMIC as described above. In the event that
the Trustee prepares any of the federal, state and local tax returns of the
REMIC as described above, the Trustee hereby indemnifies the Seller and the
Master Servicer for any losses, liabilities, damages, claims or expenses of the
Seller or the Master Servicer arising from the Trustee's willful misfeasance,
bad faith or negligence in connection with such preparation.
(b) Notwithstanding anything in this Agreement to the contrary,
each of the Master Servicer and the Trustee shall pay from its own funds,
without any right of reimbursement therefor, the amount of any costs,
liabilities and expenses incurred by the Trust Estate (including, without
limitation, any and all federal, state or local taxes, including taxes imposed
on "prohibited transactions" within the meaning of the REMIC Provisions) if and
to the extent that such costs, liabilities and expenses arise from a failure of
the Master Servicer or the Trustee to, respectively, perform its obligations
under this Section 8.14.
SECTION 8.15 MONTHLY ADVANCES.
In the event that Norwest Mortgage fails to make a Periodic Advance
required to be made pursuant to the Norwest Servicing Agreement on or before the
Distribution Date, the Trustee shall make a Periodic Advance as required by
Section 3.03 hereof; provided, however, the Trustee shall not be required to
make such Periodic Advances if prohibited by law or if it determines that such
Periodic Advance would be a Nonrecoverable Advance. With respect to those
Periodic Advances which should have been made by Norwest Mortgage, the Trustee
shall be entitled, pursuant to Section 3.02(a)(i), (ii) or (v) hereof, to be
reimbursed from the Certificate Account for Periodic Advances and Nonrecoverable
Advances made by it.
<PAGE>
ARTICLE IX
TERMINATION
SECTION 9.01 TERMINATION UPON PURCHASE BY THE SELLER OR
LIQUIDATION OF ALL MORTGAGE LOANS.
Subject to Section 9.02, the respective obligations and
responsibilities of the Seller, the Master Servicer and the Trustee created
hereby (other than the obligation of the Trustee to make certain payments after
the Final Distribution Date to Certificateholders and the obligation of the
Master Servicer to send certain notices as hereinafter set forth and the tax
reporting obligations under Sections 4.05 and 8.14 hereof) shall terminate upon
the last action required to be taken by the Trustee on the Final Distribution
Date pursuant to this Article IX following the earlier of (i) the purchase by
the Seller of all Mortgage Loans and all property acquired in respect of any
Mortgage Loan remaining in the Trust Estate at a price equal to the sum of (x)
100% of the unpaid principal balance of each Mortgage Loan (other than any REO
Mortgage Loan) as of the Final Distribution Date, and (y) the fair market value
of the Mortgaged Property related to any REO Mortgage Loan (as determined by the
Master Servicer as of the close of business on the third Business Day next
preceding the date upon which notice of any such termination is furnished to
Certificateholders pursuant to the third paragraph of this Section 9.01), plus
any accrued and unpaid interest through the last day of the month preceding the
month of such purchase at the applicable Mortgage Interest Rate less any Fixed
Retained Yield on each Mortgage Loan (including any REO Mortgage Loan) and (ii)
the final payment or other liquidation (or any advance with respect thereto) of
the last Mortgage Loan remaining in the Trust Estate (including for this purpose
the discharge of any Mortgagor under a defaulted Mortgage Loan on which a
Servicer is not obligated to foreclose due to environmental impairment) or the
disposition of all property acquired upon foreclosure or deed in lieu of
foreclosure of any Mortgage Loan; provided, however, that in no event shall the
trust created hereby continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late
ambassador of the United States to the Court of St. James, living on the date
hereof.
The right of the Seller to purchase all the assets of the Trust
Estate pursuant to clause (i) of the preceding paragraph are subject to Section
9.02 and conditioned upon the Pool Scheduled Principal Balance of the Mortgage
Loans as of the Final Distribution Date being less than the amount set forth in
Section 11.22. In the case of any purchase by the Seller pursuant to said clause
(i), the Seller shall provide to the Trustee the certification required by
Section 3.04 and the Trustee and the Custodian shall, promptly following payment
of the purchase price, release to the Seller the Owner Mortgage Loan Files
pertaining to the Mortgage Loans being purchased.
Notice of any termination, specifying the Final Distribution Date
(which shall be a date that would otherwise be a Distribution Date) upon which
the Certificateholders may surrender their Certificates to the Trustee for
payment of the final distribution and cancellation, shall be given promptly by
the Master Servicer (if it is exercising its right to purchase the assets of the
Trust Estate) or by the Trustee (in any other case) by letter to
Certificateholders mailed not earlier than the 15th day of the month preceding
the month of such final distribution and not later than the twentieth day of the
month of such final distribution specifying (A) the Final Distribution Date upon
which final payment of the Certificates will be made upon presentation and
surrender of Certificates at the office or agency of the Trustee therein
designated, (B) the amount of any such final payment and (C) that the Record
Date otherwise applicable to such Distribution Date is not applicable, payments
being made (except in the case of any Class A Certificate surrendered on a prior
Distribution Date pursuant to Section 4.01) only upon presentation and surrender
of the Certificates at the office or agency of the Trustee therein specified. If
the Master Servicer is obligated to give notice to Certificateholders as
aforesaid, it shall give such notice to the Trustee and the Certificate
Registrar at the time such notice is given to Certificateholders. In the event
such notice is given by the Master Servicer, the Master Servicer shall deposit
in the Certificate Account on or before the Final Distribution Date in
immediately available funds an amount equal to the purchase price for the assets
of the Trust Estate computed as above provided. Failure to give notice of
termination as described herein shall not entitle a Certificateholder to any
interest beyond the interest payable on the Final Distribution Date.
Upon presentation and surrender of the Certificates, the Trustee
shall cause to be distributed to Certificateholders on the Final Distribution
Date in proportion to their respective Percentage Interests an amount equal to
(i) as to the Classes of Class A Certificates, the respective Principal Balance
together with any related Class A Unpaid Interest Shortfall and one month's
interest in an amount equal to the respective Interest Accrual Amount, (ii) as
to the Classes of Class B Certificates, the respective Principal Balance
together with any related Class B Unpaid Interest Shortfall and one month's
interest in an amount equal to the respective Interest Accrual Amount and (iii)
as to the Class A-R Certificate, the amounts, if any, which remain on deposit in
the Certificate Account (other than amounts retained to meet claims) after
application pursuant to clauses (i), (ii) and (iii) above and payment to the
Master Servicer of any amounts it is entitled as reimbursement or otherwise
hereunder. Notwithstanding the foregoing, if the price paid pursuant to clause
(i) of the first paragraph of this Section 9.01, after reimbursement to the
Servicers, the Master Servicer and the Trustee of any Periodic Advances, is
insufficient to pay in full the amounts set forth in clauses (i), (ii) and (iii)
of this paragraph, then any shortfall in the amount available for distribution
to Certificateholders shall be allocated in reduction of the amounts otherwise
distributable on the Final Distribution Date in the same manner as Realized
Losses are allocated pursuant to Sections 4.02(b) and 4.02(g) hereof. Such
distribution on the Final Distribution Date shall be in lieu of the distribution
otherwise required to be made on such Distribution Date in respect of each Class
of Certificates.
In the event that all of the Certificateholders shall not surrender
their Certificates for final payment and cancellation within three months
following the Final Distribution Date, the Trustee shall on such date cause all
funds, if any, in the Certificate Account not distributed in final distribution
to Certificateholders to be withdrawn therefrom and credited to the remaining
Certificateholders by depositing such funds in a separate escrow account for the
benefit of such Certificateholders, and the Master Servicer (if it exercised its
right to purchase the assets of the Trust Estate) or the Trustee (in any other
case) shall give a second written notice to the remaining Certificateholders to
surrender their Certificates for cancellation and receive the final distribution
with respect thereto. If within three months after the second notice all the
Certificates shall not have been surrendered for cancellation, the Trustee may
take appropriate steps, or may appoint an agent to take appropriate steps, to
contact the remaining Certificateholders concerning surrender of their
Certificates, and the cost thereof shall be paid out of the funds on deposit in
such escrow account.
SECTION 9.02 ADDITIONAL TERMINATION REQUIREMENTS.
In the event of a termination of the Trust Estate upon the exercise
by the Seller of its purchase option as provided in Section 9.01, the Trust
Estate shall be terminated in accordance with the following additional
requirements, unless the Trustee has received an Opinion of Counsel to the
effect that any other manner of termination (i) will constitute a "qualified
liquidation" of the Trust Estate within the meaning of Code Section
860F(a)(4)(A) and (ii) will not subject the REMIC to federal tax or cause the
Trust Estate to fail to qualify as a REMIC at any time that any Certificates are
outstanding:
(i) The notice given by the Master Servicer under Section 9.01
shall provide that such notice constitutes the adoption of a plan of
complete liquidation of the REMIC as of the date of such notice (or, if
earlier, the date on which the first such notice is mailed to
Certificateholders). The Master Servicer shall also specify such date in a
statement attached to the final tax return of the REMIC; and
(ii) At or after the time of adoption of such a plan of complete
liquidation and at or prior to the Final Distribution Date, the Trustee
shall sell all of the assets of the Trust Estate to the Seller for cash at
the purchase price specified in Section 9.01 and shall distribute such
cash within 90 days of such adoption in the manner specified in Section
9.01.
<PAGE>
ARTICLE X
MISCELLANEOUS PROVISIONS
SECTION 10.01 AMENDMENT.
(a) This Agreement or any Custodial Agreement may be amended from
time to time by the Seller, the Master Servicer and the Trustee, without the
consent of any of the Certificateholders, (i) to cure any ambiguity or mistake,
(ii) to correct or supplement any provisions herein or therein which may be
inconsistent with any other provisions herein or therein, (iii) to modify,
eliminate or add to any of its provisions to such extent as shall be necessary
to maintain the qualification of the Trust Estate as a REMIC at all times that
any Certificates are outstanding or to avoid or minimize the risk of the
imposition of any federal tax on the Trust Estate or the REMIC pursuant to the
Code that would be a claim against the Trust Estate, provided that (a) the
Trustee has received an Opinion of Counsel to the effect that such action is
necessary or desirable to maintain such qualification or to avoid or minimize
the risk of the imposition of any such tax and (b) such action shall not, as
evidenced by such Opinion of Counsel, adversely affect in any material respect
the interests of any Certificateholder, (iv) to change the timing and/or nature
of deposits into the Certificate Account provided that (a) such change shall
not, as evidenced by an Opinion of Counsel, adversely affect in any material
respect the interests of any Certificateholder and (b) such change shall not
adversely affect the then-current rating of the Certificates as evidenced by a
letter from each Rating Agency to such effect, (v) to modify, eliminate or add
to the provisions of Section 5.02 or any other provisions hereof restricting
transfer of the Certificates, provided that the Master Servicer for purposes of
Section 5.02 has determined in its sole discretion that any such modifications
to this Agreement will neither adversely affect the rating on the Certificates
nor give rise to a risk that either the Trust Estate or the REMIC or any of the
Certificateholders will be subject to a tax caused by a transfer to a
non-permitted transferee and (vi) to make any other provisions with respect to
matters or questions arising under this Agreement or such Custodial Agreement
which shall not be materially inconsistent with the provisions of this
Agreement, provided that such action shall not, as evidenced by an Opinion of
Counsel, adversely affect in any material respect the interests of any
Certificateholder.
This Agreement or any Custodial Agreement may also be amended from
time to time by the Seller, the Master Servicer and the Trustee with the consent
of the Holders of Certificates evidencing in the aggregate not less than 66-2/3%
of the aggregate Voting Interests of each Class of Certificates affected thereby
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or such Custodial Agreement
or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall (i) reduce in any manner
the amount of, or delay the timing of, payments received on Mortgage Loans which
are required to be distributed on any Certificate without the consent of the
Holder of such Certificate, (ii) adversely affect in any material respect the
interest of the Holders of Certificates of any Class in a manner other than as
described in clause (i) hereof without the consent of Holders of Certificates of
such Class evidencing, as to such Class, Voting Interests aggregating not less
than 66-2/3% or (iii) reduce the aforesaid percentage of Certificates of any
Class the Holders of which are required to consent to any such amendment,
without the consent of the Holders of all Certificates of such Class then
outstanding.
Notwithstanding any contrary provision of this Agreement, the
Trustee shall not consent to any amendment to this Agreement unless it shall
have first received an Opinion of Counsel to the effect that such amendment will
not subject the REMIC to tax or cause the Trust Estate to fail to qualify as a
REMIC at any time that any Certificates are outstanding.
Promptly after the execution of any amendment requiring the consent
of Certificateholders, the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.
It shall not be necessary for the consent of Certificateholders
under this Section 10.01(a) to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders shall be subject to
such reasonable regulations as the Trustee may prescribe.
(b) Notwithstanding any contrary provision of this Agreement, the
Master Servicer may, from time to time, amend Schedule I hereto without the
consent of any Certificateholder or the Trustee; provided, however, (i) that
such amendment does not conflict with any provisions of the related Servicing
Agreement, (ii) that the related Servicing Agreement provides for the remittance
of each type of Unscheduled Principal Receipts received by such Servicer during
the Applicable Unscheduled Principal Receipt Period (as so amended) related to
each Distribution Date to the Master Servicer no later than the 24th day of the
month in which such Distribution Date occurs and (iii) that such amendment is
for the purpose of:
(a) changing the Applicable Unscheduled Principal Receipt Period
for Exhibit F-1 Mortgage Loans to a Mid-Month Receipt Period
with respect to all Unscheduled Principal Receipts; or
(b) changing the Applicable Unscheduled Principal Receipt Period
for all Mortgage Loans serviced by any Servicer to a Mid-Month
Receipt Period with respect to Full Unscheduled Principal
Receipts and to a Prior Month Receipt Period with respect to
Partial Unscheduled Principal Receipts.
A copy of any amendment to Schedule I pursuant to this Section
10.01(b) shall be promptly forwarded to the Trustee.
SECTION 10.02 RECORDATION OF AGREEMENT.
This Agreement (or an abstract hereof, if acceptable to the
applicable recording office) is subject to recordation in all appropriate public
offices for real property records in all the towns or other comparable
jurisdictions in which any or all of the Mortgaged Properties are situated, and
in any other appropriate public office or elsewhere, such recordation to be
effected by the Master Servicer and at its expense on direction by the Trustee,
but only upon direction accompanied by an Opinion of Counsel to the effect that
such recordation materially and beneficially affects the interests of the
Certificateholders.
For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.
SECTION 10.03 LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS.
The death or incapacity of any Certificateholder shall not operate
to terminate this Agreement or the Trust Estate, nor entitle such
Certificateholder's legal representatives or heirs to claim an accounting or
take any action or proceeding in any court for a partition or winding up of the
Trust Estate, nor otherwise affect the rights, obligations and liabilities of
the parties hereto or any of them.
Except as otherwise expressly provided herein, no Certificateholder,
solely by virtue of its status as a Certificateholder, shall have any right to
vote or in any manner otherwise control the operation and management of the
Trust Estate, or the obligations of the parties hereto, nor shall anything
herein set forth, or contained in the terms of the Certificates, be construed so
as to constitute the Certificateholders from time to time as partners or members
of an association, nor shall any Certificateholder be under any liability to any
third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder, solely by virtue of its status as
Certificateholder, shall have any right by virtue or by availing of any
provision of this Agreement to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Agreement, unless such
Holder previously shall have given to the Trustee a written notice of default
and of the continuance thereof, as hereinbefore provided, and unless also the
Holders of Certificates evidencing not less than 25% of the Voting Interest
represented by all Certificates shall have made written request upon the Trustee
to institute such action, suit or proceeding in its own name as Trustee
hereunder and shall have offered to the Trustee such reasonable indemnity as it
may require against the cost, expenses and liabilities to be incurred therein or
thereby, and the Trustee, for 60 days after its receipt of such notice, request
and offer of indemnity, shall have neglected or refused to institute any such
action, suit or proceeding; it being understood and intended, and being
expressly covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of Certificates
shall have any right in any manner whatever by virtue or by availing of any
provision of this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right
under this Agreement, except in the manner herein provided and for the benefit
of all Certificateholders. For the protection and enforcement of the provisions
of this Section, each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.
SECTION 10.04 GOVERNING LAW; JURISDICTION.
This Agreement shall be construed in accordance with the laws of the
State of New York (without regard to conflicts of laws principles), and the
obligations, rights and remedies of the parties hereunder shall be determined in
accordance with such laws.
SECTION 10.05 NOTICES.
All demands, notices and communications hereunder shall be in
writing and shall be deemed to have been duly given if personally delivered at
or mailed by certified or registered mail, return receipt requested (i) in the
case of the Seller, to Norwest Asset Securities Corporation, 7485 New Horizon
Way, Frederick, Maryland 21703, Attention: Chief Executive Officer, or such
other address as may hereafter be furnished to the Master Servicer and the
Trustee in writing by the Seller, (ii) in the case of the Master Servicer, to
Norwest Bank Minnesota, National Association, 7485 New Horizon Way, Frederick,
Maryland 21703, Attention: Vice President or such other address as may hereafter
be furnished to the Seller and the Trustee in writing by the Master Servicer and
(iii) in the case of the Trustee, to the Corporate Trust Office, or such other
address as may hereafter be furnished to the Seller and the Master Servicer in
writing by the Trustee, in each case Attention: Corporate Trust Department. Any
notice required or permitted to be mailed to a Certificateholder shall be given
by first class mail, postage prepaid, at the address of such Holder as shown in
the Certificate Register. Any notice mailed or transmitted within the time
prescribed in this Agreement shall be conclusively presumed to have been duly
given, whether or not the addressee receives such notice, provided, however,
that any demand, notice or communication to or upon the Seller, the Master
Servicer or the Trustee shall not be effective until received.
For all purposes of this Agreement, in the absence of actual
knowledge by an officer of the Master Servicer, the Master Servicer shall not be
deemed to have knowledge of any act or failure to act of any Servicer unless
notified thereof in writing by the Trustee, such Servicer or a
Certificateholder.
SECTION 10.06 SEVERABILITY OF PROVISIONS.
If any one or more of the covenants, agreements, provisions or terms
of this Agreement shall be for any reason whatsoever held invalid, then such
covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Agreement and shall
in no way affect the validity or enforceability of the other provisions of this
Agreement or of the Certificates or the rights of the Holders thereof.
SECTION 10.07 SPECIAL NOTICES TO RATING AGENCIES.
(a) The Trustee shall give prompt notice to each Rating Agency of
the occurrence of any of the following events of which it has notice:
(i) any amendment to this Agreement pursuant to Section 10.01(a);
(ii) any sale or transfer of the Class B Certificates pursuant to
Section 5.02 to an affiliate of the Seller;
(iii) any assignment by the Master Servicer of its rights and
delegation of its duties pursuant to Section 6.06;
(iv) any resignation of the Master Servicer pursuant to Section
6.04;
(v) the occurrence of any of the Events of Default described in
Section 7.01;
(vi) any notice of termination given to the Master Servicer
pursuant to Section 7.01;
(vii) the appointment of any successor to the Master Servicer
pursuant to Section 7.05; or
(viii) the making of a final payment pursuant to Section 9.01.
(b) The Master Servicer shall give prompt notice to each Rating
Agency of the occurrence of any of the following events:
(i) the appointment of a Custodian pursuant to Section 2.02;
(ii) the resignation or removal of the Trustee pursuant to
Section 8.08;
(iii) the appointment of a successor trustee pursuant to Section
8.09; or
(iv) the sale, transfer or other disposition in a single
transaction of 50% or more of the equity interests in the Master Servicer.
(c) The Master Servicer shall deliver to each Rating Agency:
(i) reports prepared pursuant to Section 3.05; and
(ii) statements prepared pursuant to Section 4.04.
SECTION 10.08 COVENANT OF SELLER.
The Seller shall not amend Article Third of its Certificate of
Incorporation without the prior written consent of each Rating Agency rating the
Certificates.
SECTION 10.09 RECHARACTERIZATION.
The Parties intend the conveyance by the Seller to the Trustee of
all of its right, title and interest in and to the Mortgage Loans pursuant to
this Agreement to constitute a purchase and sale and not a loan. Notwithstanding
the foregoing, to the extent that such conveyance is held not to constitute a
sale under applicable law, it is intended that this Agreement shall constitute a
security agreement under applicable law and that the Seller shall be deemed to
have granted to the Trustee a first priority security interest in all of the
Seller's right, title and interest in and to the Mortgage Loans.
<PAGE>
ARTICLE XI
TERMS FOR CERTIFICATES
SECTION 11.01 CLASS A FIXED PASS-THROUGH RATE.
The Class A Fixed Pass-Through Rate is 7.500% per annum.
SECTION 11.02 CUT-OFF DATE.
The Cut-Off Date for the Certificates is March 1, 2000.
SECTION 11.03 CUT-OFF DATE AGGREGATE PRINCIPAL BALANCE.
The Cut-Off Date Aggregate Principal Balance is $380,079,912.57.
SECTION 11.04 ORIGINAL CLASS A PERCENTAGE.
The Original Class A Percentage is 95.98068082%.
SECTION 11.05 ORIGINAL PRINCIPAL BALANCES OF THE CLASSES OF
CLASS A CERTIFICATES.
As to the following Classes of Class A Certificates, the Principal
Balance of such Class as of the Cut-Off Date, as follows:
Original
Class Principal Balance
----- -----------------
Class A-1 $99,506,000.00
Class A-2 $23,309,000.00
Class A-3 $10,130,000.00
Class A-4 $38,079,000.00
Class A-5 $14,877,000.00
Class A-6 $14,877,000.00
Class A-7 $75,000,000.00
Class A-8 $2,272,000.00
Class A-9 $29,704,000.00
Class A-10 $34,868,000.00
Class A-11 $828,000.00
Class A-12 $19,624,000.00
Class A-PO $1,801,599.78
Class A-R $100.00
SECTION 11.06 ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE.
The Original Class A Non-PO Principal Balance is $363,074,100.00.
SECTION 11.07 ORIGINAL SUBORDINATED PERCENTAGE.
The Original Subordinated Percentage is 4.01931918%.
SECTION 11.08 ORIGINAL CLASS B-1 PERCENTAGE.
The Original Class B-1 Percentage is 1.90917633%.
SECTION 11.09 ORIGINAL CLASS B-2 PERCENTAGE.
The Original Class B-2 Percentage is 0.85413303%.
SECTION 11.10 ORIGINAL CLASS B-3 PERCENTAGE.
The Original Class B-3 Percentage is 0.50227569%.
SECTION 11.11 ORIGINAL CLASS B-4 PERCENTAGE.
The Original Class B-4 Percentage is 0.30136541%.
SECTION 11.12 ORIGINAL CLASS B-5 PERCENTAGE.
The Original Class B-5 Percentage is 0.20117463%.
SECTION 11.13 ORIGINAL CLASS B-6 PERCENTAGE.
The Original Class B-6 Percentage is 0.25119410%.
SECTION 11.14 ORIGINAL CLASS B PRINCIPAL BALANCE.
The Original Class B Principal Balance is $15,204,212.79.
SECTION 11.15 ORIGINAL PRINCIPAL BALANCES OF THE CLASSES OF
CLASS B CERTIFICATES.
As to the following Classes of Class B Certificate, the Principal
Balance of such Class as of the Cut-Off Date, is as follows:
Original
Class Principal Balance
----- -----------------
Class B-1 $7,222,000.00
Class B-2 $3,231,000.00
Class B-3 $1,900,000.00
Class B-4 $1,140,000.00
Class B-5 $761,000.00
SECTION 11.16 ORIGINAL CLASS B-1 FRACTIONAL INTEREST.
The Original Class B-1 Fractional Interest is 2.11014285%.
SECTION 11.17 ORIGINAL CLASS B-2 FRACTIONAL INTEREST.
The Original Class B-2 Fractional Interest is 1.25600982%.
SECTION 11.18 ORIGINAL CLASS B-3 FRACTIONAL INTEREST.
The Original Class B-3 Fractional Interest is 0.75373414%.
SECTION 11.19 ORIGINAL CLASS B-4 FRACTIONAL INTEREST.
The Original Class B-4 Fractional Interest is 0.45236872%.
SECTION 11.20 ORIGINAL CLASS B-5 FRACTIONAL INTEREST.
The Original Class B-5 Fractional Interest is 0.25119409%.
SECTION 11.21 CLOSING DATE.
The Closing Date is March 30, 2000.
SECTION 11.22 RIGHT TO PURCHASE.
The right of the Seller to purchase all of the Mortgage Loans
pursuant to Section 9.01 hereof shall be conditioned upon the Pool Scheduled
Principal Balance of the Mortgage Loans being less than $38,007,991.26 (10% of
the Cut-Off Date Aggregate Principal Balance) at the time of any such purchase.
SECTION 11.23 WIRE TRANSFER ELIGIBILITY.
With respect to the Class A Certificates (other than the Class A-PO
and Class A-R Certificates) and the Class B Certificates, the minimum
Denomination eligible for wire transfer on each Distribution Date is $500,000.
With respect to the Class A-PO Certificates, the minimum Denomination eligible
for wire transfer on each Distribution Date is 100% Percentage Interest. The
Class A-R Certificate is not eligible for wire transfer.
SECTION 11.24 SINGLE CERTIFICATE.
A Single Certificate for each Class of Class A Certificates (other
than the Class A-PO and Class A-R Certificates) and each Class of the Class B
Certificates (other than the Class B-4, Class B-5 and Class B-6 Certificates)
represents a $100,000 Denomination. A Single Certificate for the Class A-R
Certificate represents a $100 Denomination. A Single Certificate for the Class
B-4, Class B-5 and Class B-6 Certificates represents a $250,000 Denomination. A
Single Certificate for the Class A-PO represents a $1,801,599.78 Denomination.
SECTION 11.25 SERVICING FEE RATE.
The rate used to calculate the Servicing Fee is equal to such rate
as is set forth on the Mortgage Loan Schedule with respect to a Mortgage Loan.
SECTION 11.26 MASTER SERVICING FEE RATE.
The rate used to calculate the Master Servicing Fee for each
Mortgage Loan is 0.017% per annum.
<PAGE>
IN WITNESS WHEREOF, the Seller, the Master Servicer and the Trustee
have caused their names to be signed hereto by their respective officers
thereunto duly authorized, all as of the day and year first above written.
NORWEST ASSET SECURITIES CORPORATION
as Seller
By:____________________________________
Name: Alan S. McKenney
Title: Vice President
NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION
as Master Servicer
By:____________________________________
Name: Brett Handelman
Title: Assistant Vice President
FIRST UNION NATIONAL BANK
as Trustee
By:____________________________________
Name:
Title:
Attest:
By:___________________________
Name:_________________________
Title:________________________
<PAGE>
STATE OF MARYLAND )
) ss.:
COUNTY OF FREDERICK )
On this 30th day of March, 2000, before me, a notary public in and
for the State of Maryland, personally appeared Alan S. McKenney, known to me
who, being by me duly sworn, did depose and say that he resides at McLean,
Virginia; that he is a Vice President of Norwest Asset Securities Corporation, a
Delaware corporation, one of the parties that executed the foregoing instrument;
and that he signed his name thereto by order of the Board of Directors of said
corporation.
_________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
STATE OF MARYLAND )
) ss.:
COUNTY OF FREDERICK )
On this 30th day of March, 2000, before me, a notary public in and
for the State of Maryland, personally appeared Brett Handelman, known to me who,
being by me duly sworn, did depose and say that he resides at Frederick,
Maryland; that he is an Assistant Vice President of Norwest Bank Minnesota,
National Association, a national banking association, one of the parties that
executed the foregoing instrument; and that he signed his name thereto by order
of the Board of Directors of said association.
_________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
STATE OF NORTH CAROLINA )
) ss.:
COUNTY OF )
On this 30th day of March, 2000, before me, a notary public in and
for the State of North Carolina, personally appeared _____________________,
known to me who, being by me duly sworn, did depose and say that he resides at
__________________, North Carolina; that he is a _____________________ of First
Union National Bank, a national banking association, one of the parties that
executed the foregoing instrument; and that s/he signed his name thereto by
order of the Board of Directors of said corporation.
_________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
SCHEDULE I
Norwest Asset Securities Corporation, Mortgage Pass-Through Certificates,
Series 2000-2
Applicable Unscheduled Principal Receipt Period
Full Unscheduled Partial Unscheduled
Servicer Principal Receipts Principal Receipts
-------- ------------------ ------------------
Norwest Mortgage, Inc. (Exhibit F-1) Prior Month Prior Month
Norwest Mortgage, Inc. (Exhibit F-2) Mid-Month Mid-Month
National City Mortgage Co. Mid-Month Prior Month
Chevy Chase Bank, F.S.B. Mid-Month Prior Month
Downey Savings & Loan Association, F.A. Mid-Month Prior Month
HomeSide Lending, Inc. Prior Month Prior Month
Merrill Lynch Credit Corporation Prior Month Prior Month
Hibernia National Bank Mid-Month Prior Month
The Huntington Mortgage Company Mid-Month Prior Month
Bank of Oklahoma, N.A. Mid-Month Prior Month
America First Credit Union Mid-Month Prior Month
Farmers State Bank & Trust Company of
Superior Mid-Month Prior Month
Keystone National Bank Mid-Month Prior Month
<PAGE>
EXHIBIT A-1
[FORM OF FACE OF CLASS A-1 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-1
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R V8 9 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-1 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-1 Certificates required to be distributed to
Holders of the Class A-1 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-1 Certificates applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-1 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-2
[FORM OF FACE OF CLASS A-2 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-2
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR (EXCEPT AS PROVIDED
HEREIN) PRIVATE INSURER.
UNTIL THE APPLICABLE ACCRETION TERMINATION DATE, THE INTEREST THAT
ACCRUES ON THE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL NOT BE PAYABLE.
BECAUSE SUCH UNPAID INTEREST IS ADDED TO THE PRINCIPAL BALANCE OF THIS
CERTIFICATE AND BECAUSE DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE WILL
BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN), THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE MORE OR
LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R V9 7 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-2 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-2 Certificates required to be distributed to
Holders of the Class A-2 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-2 Certificates applicable to each Distribution Date will be 7.500% per
annum. Prior to the applicable Accretion Termination Date, no distribution of
interest on this Certificate will be made. Prior to the applicable Accretion
Termination Date, interest otherwise available for distribution on this
Certificate will be added to the Principal Balance of the Class A-2 Certificates
on each Distribution Date. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and the interest portion of certain Realized
Losses allocated to the Class A-2 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, at an issue price of
91.06317%, including accrued interest, and a stated redemption price at maturity
equal to the sum of its initial principal balance and all interest distributions
hereon (whether current or accrued), and is issued with original issue discount
("OID") for federal income tax purposes. Assuming that this Certificate pays in
accordance with projected cash flows reflecting the prepayment assumption of
225% SPA (as defined in the Prospectus Supplement dated March 20, 2000 with
respect to the offering of the Class A Certificates (other than the Class A-PO
Certificates) and Class B-1, Class B-2, and Class B-3 Certificates) used to
price this Certificate: (i) the amount of OID as a percentage of the initial
principal balance of this Certificate is approximately 95.99396436%; (ii) the
annual yield to maturity of this Certificate, compounded monthly, is
approximately 8.64%; and (iii) the amount of OID allocable to the short first
accrual period (March 30, 2000 to April 25, 2000) as a percentage of the initial
principal balance of this Certificate, calculated using the exact method, is
approximately 0.54626976%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-3
[FORM OF FACE OF CLASS A-3 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-3
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR (EXCEPT AS PROVIDED
HEREIN) PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W2 1 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-3 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-3 Certificates required to be distributed to
Holders of the Class A-3 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-3 Certificates applicable to each Distribution Date will be 8.000% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-3 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-4
[FORM OF FACE OF CLASS A-4 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-4
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W3 9 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-4 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-4 Certificates required to be distributed to
Holders of the Class A-4 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-4 Certificates applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-4 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 96.11979%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 3.98438000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 8.03%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.01509944%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-5
[FORM OF FACE OF CLASS A-5 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-5
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W4 7 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-5 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-5 Certificates required to be distributed to
Holders of the Class A-5 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-5 Certificates applicable to each Distribution Date will be 6.250% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-5 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 85.93454%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 14.15226333%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 7.88%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.03611060%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-6
[FORM OF FACE OF CLASS A-6 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-6
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X7 9 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-6 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-6 Certificates required to be distributed to
Holders of the Class A-6 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-6 Certificates applicable to each Distribution Date will be 7.750% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-6 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-7
[FORM OF FACE OF CLASS A-7 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-7
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W5 4 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-7 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-7 Certificates required to be distributed to
Holders of the Class A-7 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-7 Certificates applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-7 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 99.54167%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 0.56250000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 7.75%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.01443832%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-8
[FORM OF FACE OF CLASS A-8 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-8
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
UNTIL THE APPLICABLE ACCRETION TERMINATION DATE, THE INTEREST THAT
ACCRUES ON THE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL NOT BE PAYABLE.
BECAUSE SUCH UNPAID INTEREST IS ADDED TO THE PRINCIPAL BALANCE OF THIS
CERTIFICATE AND BECAUSE DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE WILL
BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN), THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE MORE OR
LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W6 2 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-8 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-8 Certificates required to be distributed to
Holders of the Class A-8 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-8 Certificates applicable to each Distribution Date will be 7.500% per
annum. Prior to the applicable Accretion Termination Date, no distribution of
interest on this Certificate will be made. Prior to the applicable Accretion
Termination Date, interest otherwise available for distribution on this
Certificate will be added to the Principal Balance of the Class A-8 Certificates
on each Distribution Date. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and the interest portion of certain Realized
Losses allocated to the Class A-8 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, at an issue price of
97.60417%, including accrued interest, and a stated redemption price at maturity
equal to the sum of its initial principal balance and all interest distributions
hereon (whether current or accrued), and is issued with original issue discount
("OID") for federal income tax purposes. Assuming that this Certificate pays in
accordance with projected cash flows reflecting the prepayment assumption of
225% SPA (as defined in the Prospectus Supplement dated March 20, 2000 with
respect to the offering of the Class A Certificates (other than the Class A-PO
Certificates) and Class B-1, Class B-2, and Class B-3 Certificates) used to
price this Certificate: (i) the amount of OID as a percentage of the initial
principal balance of this Certificate is approximately 46.11652391%; (ii) the
annual yield to maturity of this Certificate, compounded monthly, is
approximately 8.03%; and (iii) the amount of OID allocable to the short first
accrual period (March 30, 2000 to April 25, 2000) as a percentage of the initial
principal balance of this Certificate, calculated using the exact method, is
approximately 0.54371842%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-9
[FORM OF FACE OF CLASS A-9 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-9
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W7 0 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-9 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-9 Certificates required to be distributed to
Holders of the Class A-9 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-9 Certificates applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-9 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-10
[FORM OF FACE OF CLASS A-10 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-10
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W8 8 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-10 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-10 Certificates required to be distributed
to Holders of the Class A-10 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-10 Certificates applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-10 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-11
[FORM OF FACE OF CLASS A-11 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-11
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
UNTIL THE APPLICABLE ACCRETION TERMINATION DATE, THE INTEREST THAT
ACCRUES ON THE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL NOT BE PAYABLE.
BECAUSE SUCH UNPAID INTEREST IS ADDED TO THE PRINCIPAL BALANCE OF THIS
CERTIFICATE AND BECAUSE DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE WILL
BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN), THE
OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE MORE OR
LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R W9 6 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-11 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-11 Certificates required to be distributed
to Holders of the Class A-11 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-11 Certificates applicable to each Distribution Date will be 7.500% per
annum. Prior to the applicable Accretion Termination Date, no distribution of
interest on this Certificate will be made. Prior to the applicable Accretion
Termination Date, interest otherwise available for distribution on this
Certificate will be added to the Principal Balance of the Class A-11
Certificates on each Distribution Date. The amount of interest which accrues on
this Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and the interest portion of certain Realized
Losses allocated to the Class A-11 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, at an issue price of
97.60417%, including accrued interest, and a stated redemption price at maturity
equal to the sum of its initial principal balance and all interest distributions
hereon (whether current or accrued), and is issued with original issue discount
("OID") for federal income tax purposes. Assuming that this Certificate pays in
accordance with projected cash flows reflecting the prepayment assumption of
225% SPA (as defined in the Prospectus Supplement dated March 20, 2000 with
respect to the offering of the Class A Certificates (other than the Class A-PO
Certificates) and Class B-1, Class B-2, and Class B-3 Certificates) used to
price this Certificate: (i) the amount of OID as a percentage of the initial
principal balance of this Certificate is approximately 41.03560628%; (ii) the
annual yield to maturity of this Certificate, compounded monthly, is
approximately 8.08%; and (iii) the amount of OID allocable to the short first
accrual period (March 30, 2000 to April 25, 2000) as a percentage of the initial
principal balance of this Certificate, calculated using the exact method, is
approximately 0.54765590%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-12
[FORM OF FACE OF CLASS A-12 CERTIFICATE]
[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY TO THE SELLER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2 CLASS A-12
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X2 0 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-12 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans"), formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-12 Certificates required to be distributed
to Holders of the Class A-12 Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-12 Certificates applicable to each Distribution Date will be 8.000% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-12 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-PO
[FORM OF FACE OF CLASS A-PO CERTIFICATE]
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING THAT THE
TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT
SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED ("ERISA") OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF
ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL
EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY,
A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN.
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS A-PO
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-PO Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-PO Certificates required to be distributed
to Holders of the Class A-PO Certificates on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. The Class A-PO
Certificates will not be entitled to distributions in respect of interest.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds.. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class A-PO Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller that such transfer is exempt
(describing the applicable exemption and the basis therefor) from or is being
made pursuant to the registration requirements of the Securities Act of 1933, as
amended, and of any applicable statute of any state. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent acting on behalf of the
Trustee against any liability that may result if the transfer is not so exempt
or is not made in accordance with such Federal and state laws. In connection
with any such transfer, the Trustee will also require (i) a representation
letter, in the form as described in the Agreement, stating that the transferee
is not a Plan and is not acting on behalf of a Plan or using the assets of a
Plan to effect such purchase or (ii) if such transferee is a Plan, (a) an
opinion of counsel acceptable to and in form and substance satisfactory to the
Trustee and the Seller with respect to certain matters and (b) such other
documentation as the Seller or the Master Servicer may require, as described in
the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, at an issue price of
59.00000% and a stated redemption price at maturity equal to its initial
principal balance, and is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 41.0000000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 9.16%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.37491192%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT A-R
[Form of Face of Class A-R Certificate]
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL INTEREST"
IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN
RESTRICTIONS ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(d) OF THE POOLING
AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE
TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT, AMONG OTHER THINGS, IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5),
AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR A DISQUALIFIED
ORGANIZATION OR A NON-PERMITTED FOREIGN HOLDER, AS DEFINED IN SECTION 5.02(d) OF
THE POOLING AND SERVICING AGREEMENT AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE
POOLING AND SERVICING AGREEMENT AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE
RESTRICTIONS ON TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR
NON-PERMITTED FOREIGN HOLDERS.
THE HOLDER OF THIS CLASS A-R CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO
HAVE AGREED TO THE DESIGNATION OF THE MASTER SERVICER AS ITS AGENT TO ACT AS
"TAX MATTERS PERSON" OF THE REMIC TO PERFORM THE FUNCTIONS OF A "TAX MATTERS
PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE,
OR, IF SO REQUESTED BY THE MASTER SERVICER, TO ACT AS TAX MATTERS PERSON OF THE
REMIC.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON WHICH IS
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE CODE OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF
ERISA SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A
"PLAN"), OR ANY PERSON ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN.
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS A-R
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X3 8 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT __________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holder of the Class A-R Certificate with respect to a Trust
Estate consisting of a pool of fixed interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to four-family residential mortgage loans,
other than the Fixed Retained Yield, if any, with respect thereto, and which may
include loans secured by shares issued by cooperative housing corporations (the
"Mortgage Loans"), formed by Norwest Asset Securities Corporation (hereinafter
called the "Seller", which term includes any successor entity under the
Agreement referred to below). The Trust Estate was created pursuant to a Pooling
and Servicing Agreement dated as of March 30, 2000 (the "Agreement") among the
Seller, Norwest Bank Minnesota, National Association, as master servicer (the
"Master Servicer") and First Union National Bank, as trustee (the "Trustee"), a
summary of certain of the pertinent provisions of which is set forth
hereinafter. To the extent not defined herein, the capitalized terms used herein
have the meanings ascribed to such terms in the Agreement. This Certificate is
issued under and is subject to the terms, provisions and conditions of the
Agreement, to which Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and the Class A
Distribution Amount for the Class A-R Certificate required to be distributed to
the Holder of the Class A-R Certificate on such Distribution Date, subject to
adjustment in certain events as specified in the Agreement. Distributions in
reduction of the Principal Balance of certain Classes of Class A Certificates
may not commence on the first Distribution Date specified above. Distributions
of principal will be allocated among the Classes of Class A Certificates in
accordance with the provisions of the Agreement. The pass-through rate on the
Class A-R Certificate applicable to each Distribution Date will be 7.500% per
annum. The amount of interest which accrues on this Certificate in any month
will be subject to reduction with respect to any Non-Supported Interest
Shortfall and the interest portion of certain Realized Losses allocated to the
Class A-R Certificate, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register.
Notwithstanding the above, the final distribution on this Certificate will be
made after due notice of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency specified
by the Trustee for that purpose in the notice of final distribution.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-1
[FORM OF FACE OF CLASS B-1 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES
AS DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-1
evidencing an interest in a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family
residential mortgage loans, which may include loans secured by shares
issued by cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X4 6 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-1 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates as specified in the Agreement, any
Class B-1 Distribution Amount required to be distributed to Holders of the Class
B-1 Certificates on such Distribution Date, subject to adjustment, in certain
events, as specified in the Agreement. The pass-through rate on the Class B-1
Certificates applicable to each Distribution Date will be 7.500% per annum. The
amount of interest which accrues on this Certificate in any month will be
subject to reduction with respect to any Non-Supported Interest Shortfall and
the interest portion of certain Realized Losses allocated to the Class B-1
Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-1 Certificate will be made unless the
Holder hereof desiring to make any such transfer shall deliver to the Trustee
(i) a representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 96.30729%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 3.79687500%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 8.03%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.01584818%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-2
[FORM OF FACE OF CLASS B-2 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A CERTIFICATES
AND THE CLASS B-1 CERTIFICATES AS DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-2
evidencing an interest in a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family
residential mortgage loans, which may include loans secured by shares
issued by cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X5 3 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-2 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-2 Distribution Amount required to be distributed to
Holders of the Class B-2 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-2 Certificates applicable to each Distribution Date will be
7.500% per annum. The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and the interest portion of certain Realized Losses allocated
to the Class B-2 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-2 Certificate will be made unless the
Holder hereof desiring to make any such transfer shall deliver to the Trustee
(i) a representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 95.82292%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 4.28125000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 8.10%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.01778176%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-3
[FORM OF FACE OF CLASS B-3 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES AND THE CLASS B-2 CERTIFICATES AS
DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-3
evidencing an interest in a pool of fixed
interest rate, conventional, monthly pay,
fully amortizing, first lien, one- to
four-family residential mortgage loans, which may
include loans secured by shares issued by
cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X6 1 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT _______________________________ is the
registered owner of the Percentage Interest evidenced by this Certificate in
monthly distributions to the Holders of the Class B-3 Certificates with respect
to a Trust Estate consisting of a pool of fixed interest rate, conventional,
monthly pay, fully amortizing, first lien, one- to four-family residential
mortgage loans, other than the Fixed Retained Yield, if any, with respect
thereto, and which may include loans secured by shares issued by cooperative
housing corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-3 Distribution Amount required to be distributed to
Holders of the Class B-3 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-3 Certificates applicable to each Distribution Date will be
7.500% per annum. The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and the interest portion of certain Realized Losses allocated
to the Class B-3 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-3 Certificate will be made unless the
Holder hereof desiring to make any such transfer shall deliver to the Trustee
(i) a representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 91.63542%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 8.46875000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 8.72%; and
(iii) the amount of OID allocable to the short first accrual period (March 30,
2000 to April 25, 2000) as a percentage of the initial principal balance of this
Certificate, calculated using the exact method, is approximately 0.03397173%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-4
[FORM OF FACE OF CLASS B-4 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES AND THE
CLASS B-3 CERTIFICATES AS DESCRIBED IN THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-4
evidencing an interest in a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family
residential mortgage loans, which may include loans secured by shares
issued by cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X8 7 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-4 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-4 Distribution Amount required to be distributed to
Holders of the Class B-4 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-4 Certificates applicable to each Distribution Date will be
7.500% per annum. The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and the interest portion of certain Realized Losses allocated
to the Class B-4 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-4 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller that such transfer is exempt
(describing the applicable exemption and the basis therefor) from or is being
made pursuant to the registration requirements of the Securities Act of 1933, as
amended, and of any applicable statute of any state. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent acting on behalf of the
Trustee against any liability that may result if the transfer is not so exempt
or is not made in accordance with such Federal and state laws. In connection
with any such transfer, the Trustee will also require (i) a representation
letter, in the form as described in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 76.66667%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 23.43750000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 11.36%;
and (iii) the amount of OID allocable to the short first accrual period (March
30, 2000 to April 25, 2000) as a percentage of the initial principal balance of
this Certificate, calculated using the exact method, is approximately
0.08345865%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-5
[FORM OF FACE OF CLASS B-5 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES AND THE CLASS B-4 CERTIFICATES AS DESCRIBED IN THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-5
evidencing an interest in a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family
residential mortgage loans, which may include loans secured by shares
issued by cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R X9 5 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-5 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-5 Distribution Amount required to be distributed to
Holders of the Class B-5 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-5 Certificates applicable to each Distribution Date will be
7.500% per annum. The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and the interest portion of certain Realized Losses allocated
to the Class B-5 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-5 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller that such transfer is exempt
(describing the applicable exemption and the basis therefor) from or is being
made pursuant to the registration requirements of the Securities Act of 1933, as
amended, and of any applicable statute of any state. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent acting on behalf of the
Trustee against any liability that may result if the transfer is not so exempt
or is not made in accordance with such Federal and state laws. In connection
with any such transfer, the Trustee will also require (i) a representation
letter, in the form as described in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 55.85417%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 44.25000000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 16.69%;
and (iii) the amount of OID allocable to the short first accrual period (March
30, 2000 to April 25, 2000) as a percentage of the initial principal balance of
this Certificate, calculated using the exact method, is approximately
0.12592216%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT B-6
[FORM OF FACE OF CLASS B-6 CERTIFICATE]
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES, THE CLASS B-4 CERTIFICATES AND THE CLASS B-5 CERTIFICATES AS
DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.
EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN, THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO
ANY PERSON THAT HAS NOT DELIVERED A REPRESENTATION LETTER STATING EITHER (A)
THAT THE TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A
MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE
(COLLECTIVELY, A "PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS
OF A PLAN OR (B) SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE POOLING AND
SERVICING AGREEMENT, THAT THE SOURCE OF FUNDS USED TO PURCHASE THIS CERTIFICATE
IS AN "INSURANCE COMPANY GENERAL ACCOUNT."
<PAGE>
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2000-2, CLASS B-6
evidencing an interest in a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family
residential mortgage loans, which may include loans secured by shares
issued by cooperative housing corporations, sold by
NORWEST ASSET SECURITIES CORPORATION
(Not an interest in or obligation of the Seller)
THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES, AND
IS NOT INSURED OR GUARANTEED BY THE SELLER, THE MASTER SERVICER, THE TRUSTEE OR
ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE INSURER.
DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.
Certificate No. Cut-Off Date: March 1, 2000
CUSIP No.: 66937R Y2 9 First Distribution Date: April 25, 2000
Percentage Interest evidenced Denomination: $
by this Certificate: %
Final Scheduled Maturity Date: April 25, 2030
<PAGE>
THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-6 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, conventional, monthly
pay, fully amortizing, first lien, one- to four-family residential mortgage
loans, other than the Fixed Retained Yield, if any, with respect thereto, and
which may include loans secured by shares issued by cooperative housing
corporations (the "Mortgage Loans") formed by Norwest Asset Securities
Corporation (hereinafter called the "Seller", which term includes any successor
entity under the Agreement referred to below). The Trust Estate was created
pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000 (the
"Agreement") among the Seller, Norwest Bank Minnesota, National Association, as
master servicer (the "Master Servicer") and First Union National Bank, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth hereinafter. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to such terms in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month preceding the month of such distribution, in an amount equal to the
product of the Percentage Interest evidenced by this Certificate and, subject to
the prior rights of the Class A Certificates and each Class of Class B
Certificates bearing a lower numerical designation as specified in the
Agreement, any Class B-6 Distribution Amount required to be distributed to
Holders of the Class B-6 Certificates on such Distribution Date, subject to
adjustment, in certain events, as specified in the Agreement. The pass-through
rate on the Class B-6 Certificates applicable to each Distribution Date will be
7.500% per annum. The amount of interest which accrues on this Certificate in
any month will be subject to reduction with respect to any Non-Supported
Interest Shortfall and the interest portion of certain Realized Losses allocated
to the Class B-6 Certificates, as described in the Agreement.
Distributions on this Certificate will be made on behalf of the
Trustee either by the Master Servicer or by a Paying Agent appointed by the
Master Servicer by check mailed to the address of the Person entitled thereto,
as such name and address shall appear on the Certificate Register, unless such
Person is entitled to receive payments by wire transfer in immediately available
funds in accordance with the Pooling and Servicing Agreement and such Person has
notified the Master Servicer pursuant to the Pooling and Servicing Agreement
that such payments are to be made by wire transfer of immediately available
funds. Notwithstanding the above, the final distribution in reduction of the
Principal Balance of this Certificate will be made after due notice of the
pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency specified by the Trustee for that purpose in
the notice of final distribution.
No transfer of a Class B-6 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, (i) the transferee will be required to execute
an investment letter in the form described in the Agreement and (ii) if such
transfer is to be made within three years from the later of (a) the date of
initial issuance of the Certificates or (b) the last date on which the Seller or
any affiliate thereof was a Holder of the Certificates proposed to be
transferred, and unless such transfer is made in reliance on Rule 144A of the
Securities Act of 1933, as amended, the Trustee or the Seller may require the
Holder to deliver an opinion of counsel acceptable to and in form and substance
satisfactory to the Trustee and the Seller that such transfer is exempt
(describing the applicable exemption and the basis therefor) from or is being
made pursuant to the registration requirements of the Securities Act of 1933, as
amended, and of any applicable statute of any state. The Holder hereof desiring
to effect such transfer shall, and does hereby agree to, indemnify the Trustee,
the Seller, the Master Servicer, and any Paying Agent acting on behalf of the
Trustee against any liability that may result if the transfer is not so exempt
or is not made in accordance with such Federal and state laws. In connection
with any such transfer, the Trustee will also require (i) a representation
letter, in the form as described in the Agreement, stating either (a) that the
transferee is not a Plan and is not acting on behalf of a Plan or using the
assets of a Plan to effect such purchase or (b) subject to certain conditions
described in the Agreement, that the source of funds used to purchase this
Certificate is an "insurance company general account," or (ii) if such
transferee is a Plan, (a) an opinion of counsel acceptable to and in form and
substance satisfactory to the Trustee and the Seller with respect to certain
matters and (b) such other documentation as the Seller or the Master Servicer
may require, as described in the Agreement.
Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.
This Certificate is issued on March 30, 2000, and based on its issue
price of 24.60417%, including accrued interest, and a stated redemption price at
maturity equal to its initial principal balance (plus 5 days of interest at the
pass-through rate hereon), is issued with original issue discount ("OID") for
federal income tax purposes. Assuming that this Certificate pays in accordance
with projected cash flows reflecting the prepayment assumption of 225% SPA (as
defined in the Prospectus Supplement dated March 20, 2000 with respect to the
offering of the Class A Certificates (other than the Class A-PO Certificates)
and Class B-1, Class B-2, and Class B-3 Certificates) used to price this
Certificate: (i) the amount of OID as a percentage of the initial principal
balance of this Certificate is approximately 75.50000000%; (ii) the annual yield
to maturity of this Certificate, compounded monthly, is approximately 36.82%;
and (iii) the amount of OID allocable to the short first accrual period (March
30, 2000 to April 25, 2000) as a percentage of the initial principal balance of
this Certificate, calculated using the exact method, is approximately
0.10675919%.
This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.
Unless this Certificate has been countersigned by an authorized
officer of the Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed as of the date set forth below.
Dated:
First Union National Bank,
Trustee
By____________________________
Authorized Officer
Countersigned:
First Union National Bank,
Trustee
By ________________________
Authorized Officer
<PAGE>
EXHIBIT C
[Form of Reverse of Series 2000-2 Certificates]
NORWEST ASSET SECURITIES CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-2
This Certificate is one of a duly authorized issue of Certificates
issued in several Classes designated as Mortgage Pass-Through Certificates of
the Series specified hereon (herein collectively called the "Certificates").
The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. In the event funds are
advanced with respect to any Mortgage Loan by a Servicer, the Master Servicer or
the Trustee, such advances are reimbursable to such Servicer, the Master
Servicer or the Trustee to the extent provided in the Agreement, from related
recoveries on such Mortgage Loan or from other cash that would have been
distributable to Certificateholders.
As provided in the Agreement, withdrawals from the Certificate
Account created for the benefit of Certificateholders may be made by the Master
Servicer from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement to a Servicer, the
Master Servicer or the Trustee, as applicable, of advances made by such
Servicer, the Master Servicer or the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment of the Agreement and the modification of the rights and obligations of
the Seller, the Master Servicer and the Trustee and the rights of the
Certificateholders under the Agreement at any time by the Seller, the Master
Servicer and the Trustee with the consent of the Holders of Certificates
evidencing in the aggregate not less than 66 2/3% of the Voting Interests of
each Class of Certificates affected thereby. Any such consent by the Holder of
this Certificate shall be conclusive and binding on such Holder and upon all
future holders of this Certificate and of any Certificate issued upon the
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent is made upon the Certificate. The Agreement also permits the
amendment thereof in certain circumstances without the consent of the Holders of
any of the Certificates.
As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the office or agency appointed by the Trustee, duly endorsed by, or
accompanied by an assignment in the form below or other written instrument of
transfer in form satisfactory to the Trustee and the Certificate Registrar, duly
executed by the Holder hereof or such Holder's attorney duly authorized in
writing, and thereupon one or more new Certificates of authorized Denominations
evidencing the same Class and aggregate Percentage Interest will be issued to
the designated transferee or transferees.
The Certificates are issuable only as registered Certificates
without coupons in Classes and Denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
Certificates are exchangeable for new Certificates of authorized Denominations
evidencing the same Class and aggregate Percentage Interest, as requested by the
Holder surrendering the same.
No service charge will be made for any such registration of transfer
or exchange, but the Trustee or the Certificate Registrar may require payment of
a sum sufficient to cover any tax or other governmental charge payable in
connection therewith.
The Seller, the Master Servicer, the Trustee and the Certificate
Registrar, and any agent of the Seller, the Master Servicer, the Trustee or the
Certificate Registrar, may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and neither the Seller, the
Master Servicer, the Trustee, the Certificate Registrar nor any such agent shall
be affected by notice to the contrary.
The obligations created by the Agreement in respect of the
Certificates and the Trust Estate created thereby shall terminate upon the last
action required to be taken by the Trustee on the Final Distribution Date
pursuant to the Agreement following the earlier of (i) the payment or other
liquidation (or advance with respect thereto) of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon foreclosure or deed in
lieu of foreclosure of any Mortgage Loan, and (ii) the purchase by the Seller
from the Trust Estate of all remaining Mortgage Loans and all property acquired
in respect of such Mortgage Loans; provided, however, that the Trust Estate will
in no event continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late ambassador of
the United States to the Court of St. James, living on the date of the
Agreement. The Agreement permits, but does not require, the Seller to purchase
all remaining Mortgage Loans and all property acquired in respect of any
Mortgage Loan at a price determined as provided in the Agreement. The exercise
of such option will effect early retirement of the Certificates, the Seller's
right to exercise such option being subject to the Pool Scheduled Principal
Balance of the Mortgage Loans as of the Distribution Date upon which the
proceeds of such repurchase are distributed being less than ten percent of the
Cut-Off Date Aggregate Principal Balance.
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ___________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
(Please print or typewrite name and address including postal zip code
of assignee)
the beneficial interest evidenced by the within Mortgage Pass-Through
Certificate and hereby authorizes the transfer of registration of such interest
to assignee on the Certificate Register of the Trust Estate.
I (We) further direct the Certificate Registrar to issue a new
Certificate of a like Denomination or Percentage Interest and Class, to the
above named assignee and deliver such Certificate to the following address:
________________________________________________________
________________________________________________________
Social Security or other Identifying Number of Assignee:
________________________________________________________
Dated:
______________________________________
Signature by or on behalf of
assignor
______________________________________
Signature Guaranteed
<PAGE>
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for purposes of
distribution:
Distributions shall be made, if the assignee is eligible to receive
distributions in immediately available funds, by wire transfer or otherwise, in
immediately available funds to ________________________________________________
for the account of ____________________________________________________ account
number _____________, or, if mailed by check, to ______________________________
_________________________. Applicable statements should be mailed to __________
________________________________________________________________.
This information is provided by ______________________, the assignee
named above, or ___________________________________, as its agent.
<PAGE>
EXHIBIT D
RESERVED
<PAGE>
EXHIBIT E
CUSTODIAL AGREEMENT
THIS CUSTODIAL AGREEMENT (as amended and supplemented from time to
time, the "Agreement"), dated as of _____________, by and among FIRST UNION
NATIONAL BANK, not individually, but solely as Trustee (including its successors
under the Pooling and Servicing Agreement defined below, the "Trustee"), NORWEST
ASSET SECURITIES CORPORATION (together with any successor in interest, the
"Seller"), NORWEST BANK MINNESOTA, NATIONAL ASSOCIATION (together with any
successor in interest or successor under the Pooling and Servicing Agreement
referred to below, the "Master Servicer") and ___________________________
(together with any successor in interest or any successor appointed hereunder,
the "Custodian").
W I T N E S S E T H T H A T
- - - - - - - - - - - - - -
WHEREAS, the Seller, the Master Servicer and the Trustee, have
entered into a Pooling and Servicing Agreement dated as of March 30, 2000
relating to the issuance of Mortgage Pass-Through Certificates, Series 2000-2
(as in effect on the date of this Agreement, the "Original Pooling and Servicing
Agreement", and as amended and supplemented from time to time, the "Pooling and
Servicing Agreement"); and
WHEREAS, the Custodian has agreed to act as agent for the Trustee
for the purposes of receiving and holding certain documents and other
instruments delivered by the Seller under the Pooling and Servicing Agreement,
all upon the terms and conditions and subject to the limitations hereinafter set
forth;
NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements hereinafter set forth, the Trustee, the Seller, the
Master Servicer and the Custodian hereby agree as follows:
ARTICLE I
DEFINITIONS
Capitalized terms used in this Agreement and not defined herein
shall have the meanings assigned in the Original Pooling and Servicing
Agreement, unless otherwise required by the context herein.
ARTICLE II
CUSTODY OF MORTGAGE DOCUMENTS
Section 2.1. Custodian to Act as Agent; Acceptance of Custodial
Files. The Custodian, as the duly appointed agent of the Trustee for these
purposes, acknowledges receipt of the Mortgage Notes, the Mortgages, the
assignments and other documents relating to the Mortgage Loans identified on the
schedule attached hereto and declares that it holds and will hold such Mortgage
Notes, Mortgages, assignments and other documents and any similar documents
received by the Trustee subsequent to the date hereof (the "Custodial Files") as
agent for the Trustee, in trust, for the use and benefit of all present and
future Certificateholders.
Section 2.2. Recordation of Assignments. If any Custodial File
includes one or more assignments to the Trustee of Mortgage Notes and related
Mortgages that have not been recorded, each such assignment shall be delivered
by the Custodian to the Seller for the purpose of recording it in the
appropriate public office for real property records, and the Seller, at no
expense to the Custodian, shall promptly cause to be recorded in the appropriate
public office for real property records each such assignment and, upon receipt
thereof from such public office, shall return each such assignment to the
Custodian.
Section 2.3. Review of Custodial Files. The Custodian agrees, for
the benefit of Certificateholders, to review, in accordance with the provisions
of Section 2.01 of the Pooling and Servicing Agreement, each Custodial File. If
in performing the review required by this Section 2.3 the Custodian finds any
document or documents constituting a part of a Custodial File to be missing or
defective in any material respect, the Custodian shall promptly so notify the
Seller, the Master Servicer and the Trustee.
Section 2.4. Notification of Breaches of Representations and
Warranties. Upon discovery by the Custodian of a breach of any representation or
warranty made by the Seller or the Master Servicer as set forth in the Pooling
and Servicing Agreement, the Custodian shall give prompt written notice to the
Seller, the Master Servicer and the Trustee.
Section 2.5. Custodian to Cooperate; Release of Custodial Files.
Upon the payment in full of any Mortgage Loan, or the receipt by the Master
Servicer of a notification that payment in full will be escrowed in a manner
customary for such purposes, the Master Servicer shall immediately notify the
Custodian by a certification (which certification shall include a statement to
the effect that all amounts received or to be received in connection with such
payment which are required to be deposited in the Certificate Account pursuant
to Section 3.02 of the Pooling and Servicing Agreement have been or will be so
deposited) of a Servicing Officer and shall request delivery to it of the
Custodial File. The Custodian agrees, upon receipt of such certification and
request, promptly to release the related Custodial File to the Master Servicer.
From time to time as is appropriate for the servicing or foreclosure
of any Mortgage Loan, the Master Servicer shall deliver to the Custodian a
certificate of a Servicing Officer requesting that possession of all, or any
document constituting part of, the Custodial File be released to the Master
Servicer and certifying as to the reason for such release and that such release
will not invalidate any insurance coverage provided in respect of the Mortgage
Loan. With such certificate, the Master Servicer shall deliver to the Custodian
a receipt signed by a Servicing Officer on behalf of the Master Servicer, and
upon receipt of the foregoing, the Custodian shall deliver the Custodial File or
such document to the Master Servicer. The Master Servicer shall cause each
Custodial File or any document therein so released to be returned to the
Custodian when the need therefor by the Master Servicer no longer exists, unless
(i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating
to the Mortgage Loan have been deposited in the Certificate Account to the
extent required by the Pooling and Servicing Agreement or (ii) the Custodial
File or such document has been delivered to an attorney, or to a public trustee
or other public official as required by law, for purposes of initiating or
pursuing legal action or other proceedings for the foreclosure of the Mortgaged
Property either judicially or non-judicially, and the Master Servicer has
delivered to the Custodian a certificate of a Servicing Officer certifying as to
the name and address of the Person to which such Custodial File or such document
were delivered and the purpose or purposes of such delivery. In the event of the
liquidation of a Mortgage Loan, the Custodian shall deliver such receipt with
respect thereto to the Master Servicer upon deposit of the related Liquidation
Proceeds in the Certificate Account to the extent required by the Pooling and
Servicing Agreement.
Section 2.6. Assumption Agreements. In the event that any assumption
agreement or substitution of liability agreement is entered into with respect to
any Mortgage Loan subject to this Agreement in accordance with the terms and
provisions of the Pooling and Servicing Agreement, the Master Servicer shall
notify the Custodian that such assumption or substitution agreement has been
completed by forwarding to the Custodian the original of such assumption or
substitution agreement, which copy shall be added to the related Custodial File
and, for all purposes, shall be considered a part of such Custodial File to the
same extent as all other documents and instruments constituting parts thereof.
ARTICLE III
CONCERNING THE CUSTODIAN
Section 3.1. Custodian a Bailee and Agent of the Trustee. With
respect to each Mortgage Note, Mortgage and other documents constituting each
Custodian File which are delivered to the Custodian, the Custodian is
exclusively the bailee and agent of the Trustee, holds such documents for the
benefit of Certificateholders and undertakes to perform such duties and only
such duties as are specifically set forth in this Agreement. Except upon
compliance with the provisions of Section 2.5 of this Agreement, no Mortgage
Note, Mortgage or other document constituting a part of a Custodial File shall
be delivered by the Custodian to the Seller or the Master Servicer or otherwise
released from the possession of the Custodian.
Section 3.2. Indemnification. The Seller hereby agrees to indemnify
and hold the Custodian harmless from and against all claims, liabilities,
losses, actions, suits or proceedings at law or in equity, or any other
expenses, fees or charges of any character or nature, which the Custodian may
incur or with which the Custodian may be threatened by reasons of its acting as
custodian under this Agreement, including indemnification of the Custodian
against any and all expenses, including attorney's fees if counsel for the
Custodian has been approved by the Seller, and the cost of defending any action,
suit or proceedings or resisting any claim. Notwithstanding the foregoing, it is
specifically understood and agreed that in the event any such claim, liability,
loss, action, suit or proceeding or other expense, fees, or charge shall have
been caused by reason of any negligent act, negligent failure to act, or willful
misconduct on the part of the Custodian, or which shall constitute a willful
breach of its duties hereunder, the indemnification provisions of this Agreement
shall not apply.
Section 3.3. Custodian May Own Certificates. The Custodian in its
individual or any other capacity may become the owner or pledgee of Certificates
with the same rights it would have if it were not Custodian.
Section 3.4. Master Servicer to Pay Custodian's Fees and Expenses.
The Master Servicer covenants and agrees to pay to the Custodian from time to
time, and the Custodian shall be entitled to, reasonable compensation for all
services rendered by it in the exercise and performance of any of the powers and
duties hereunder of the Custodian, and the Master Servicer will pay or reimburse
the Custodian upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Custodian in accordance with any of the
provisions of this Agreement (including the reasonable compensation and the
expenses and disbursements of its counsel and of all persons not regularly in
its employ), except any such expense, disbursement or advance as may arise from
its negligence or bad faith.
Section 3.5. Custodian May Resign; Trustee May Remove Custodian. The
Custodian may resign from the obligations and duties hereby imposed upon it as
such obligations and duties relate to its acting as Custodian of the Mortgage
Loans. Upon receiving such notice of resignation, the Trustee shall either take
custody of the Custodial Files itself and give prompt notice thereof to the
Seller, the Master Servicer and the Custodian or promptly appoint a successor
Custodian by written instrument, in duplicate, one copy of which instrument
shall be delivered to the resigning Custodian and one copy to the successor
Custodian. If the Trustee shall not have taken custody of the Custodial Files
and no successor Custodian shall have been so appointed and have accepted
resignation, the resigning Custodian may petition any court of competent
jurisdiction for the appointment of a successor Custodian.
The Trustee may remove the Custodian at any time. In such event, the
Trustee shall appoint, or petition a court of competent jurisdiction to appoint,
a successor Custodian hereunder. Any successor Custodian shall be a depository
institution subject to supervision or examination by federal or state authority
and shall be able to satisfy the other requirements contained in Section 3.7.
Any resignation or removal of the Custodian and appointment of a
successor Custodian pursuant to any of the provisions of this Section 3.5 shall
become effective upon acceptance of appointment by the successor Custodian. The
Trustee shall give prompt notice to the Seller and the Master Servicer of the
appointment of any successor Custodian. No successor Custodian shall have been
appointed and accepted appointment by the Trustee without the prior approval of
the Seller and the Master Servicer.
Section 3.6. Merger or Consolidation of Custodian. Any Person into
which the Custodian may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or
consolidation to which the Custodian shall be a party, or any Person succeeding
to the business of the Custodian, shall be the successor of the Custodian
hereunder, without the execution or filing of any paper or any further act on
the part of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 3.7. Representations of the Custodian. The Custodian hereby
represents that it is a depository institution subject to supervision or
examination by a federal or state authority, has a combined capital and surplus
of at least $10,000,000 and is qualified to do business in the jurisdiction in
which it will hold any Custodian File.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.1. Notices. All notices, requests, consents and demands
and other communications required under this Agreement or pursuant to any other
instrument or document delivered hereunder shall be in writing and, unless
otherwise specifically provided, may be delivered personally, by telegram or
telex, or by registered or certified mail, postage prepaid, return receipt
requested, at the addresses specified on the signature page hereof (unless
changed by the particular party whose address is stated herein by similar notice
in writing), in which case the notice will be deemed delivered when received.
Section 4.2. Amendments. No modification or amendment of or
supplement to this Agreement shall be valid or effective unless the same is in
writing and signed by all parties hereto, and neither the Seller, the Master
Servicer nor the Trustee shall enter into any amendment hereof except as
permitted by the Pooling and Servicing Agreement. The Trustee shall give prompt
notice to the Custodian of any amendment or supplement to the Pooling and
Servicing Agreement and furnish the Custodian with written copies thereof.
SECTION 4.3. GOVERNING LAW. THIS AGREEMENT SHALL BE DEEMED A
CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
Section 4.4. Recordation of Agreement. To the extent permitted by
applicable law, this Agreement is subject to recordation in all appropriate
public offices for real property records in all the counties or other comparable
jurisdictions in which any or all of the properties subject to the Mortgages are
situated, and in any other appropriate public recording office or elsewhere,
such recordation to be effected by the Master Servicer and at its expense on
direction by the Trustee, but only upon direction accompanied by an Opinion of
Counsel to the effect that such recordation materially and beneficially affects
the interests of the Certificateholders.
For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.
Section 4.5. Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement or of the Certificates
or the rights of the holders thereof.
<PAGE>
IN WITNESS WHEREOF, this Agreement is executed as of the date first
above written.
Address: FIRST UNION NATIONAL BANK
230 South Tryon Street By:__________________________________
Charlotte, North Carolina, 28288 Name:________________________________
Title:_______________________________
Address: NORWEST ASSET SECURITIES
CORPORATION
7485 New Horizon Way
Frederick, Maryland 21703 By:__________________________________
Name:________________________________
Title:_______________________________
Address: NORWEST BANK MINNESOTA, NATIONAL
ASSOCIATION
7485 New Horizon Way
Frederick, Maryland 21703 By: _________________________________
Name:________________________________
Title:_______________________________
[CUSTODIAN]
Address:
By: _________________________________
Name:________________________________
Title:_______________________________
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
On this ____ day of _________, 19__, before me, a notary public in
and for the State of ____________, personally appeared _______________, known to
me who, being by me duly sworn, did depose and say that he resides at
__________________________; that he is the __________ of Norwest Asset
Securities Corporation a Delaware corporation, one of the parties that executed
the foregoing instrument; and that he signed his name thereto by order of the
Board of Directors of said corporation.
_______________________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
On this ____ day of _________, 19__, before me, a notary public in
and for the State of ____________, personally appeared _______________, known to
me who, being by me duly sworn, did depose and say that he resides at
__________________________; that he is the __________ of Norwest Bank Minnesota,
National Association, a national banking association, one of the parties that
executed the foregoing instrument; and that he signed his name thereto by order
of the Board of Directors of said corporation.
_______________________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
On this ___ day of ________, 19__, before me, a notary public in and
for the State of ____________, personally appeared __________ _________, known
to me who, being by me duly sworn, did depose and say that he resides at
__________________________; that he is the ____________________ of First Union
National Bank, a national banking association, one of the parties that executed
the foregoing instrument; and that he signed his name thereto by order of the
Board of Directors of said association.
_______________________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
STATE OF )
) ss.:
COUNTY OF )
On this ____ day of ________, 19 , before me, a notary public in and
for the State of __________, personally appeared __________ __________, known to
me who, being by me duly sworn, did depose and say that he resides at
__________________________; that he is the _______________________ of
______________________, a _________________________, one of the parties that
executed the foregoing instrument; and that he signed his name thereto by order
of the Board of Directors of said association.
_______________________________________
Notary Public
[NOTARIAL SEAL]
<PAGE>
EXHIBIT F-1
[Schedule of Mortgage Loans Serviced by Norwest Mortgage from locations
other than Frederick, Maryland]
NASCOR
NMI 2000-02 Exhibit F-1
30 YEAR FIXED RATE NON RELOCATION LOANS
<TABLE>
<CAPTION>
(i) (ii) (iii) (iv) (v) (vi) (vii)
- ----- --------------------------- ----- ----- -------- -------- -------- ---------- --------
NET
MORTGAGE MORTGAGE MORTGAGE CURRENT ORIGINAL
LOAN ZIP PROPERTY INTEREST INTEREST MONTHLY TERM TO
NUMBER CITY STATE CODE TYPE RATE RATE PAYMENT MATURITY
- -------- ---------------------------------- ----- -------- -------- -------- ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
7414014 STEAMBOAT SPRINGS CO 80477 SFD 7.750 7.483 $ 1,823.27 360
7679121 LACROSSE WI 54601 SFD 7.875 7.500 $ 1,845.30 360
7963814 NORMANDY PARK WA 98166 SFD 7.625 7.358 $ 1,801.33 360
8007135 THOUSAND OAKS CA 91320 SFD 7.750 7.483 $ 1,823.27 360
8008498 SHAKOPEE MN 55379 SFD 7.875 7.500 $ 1,845.30 360
</TABLE>
TABLE (CONTINUED)
<TABLE>
<CAPTION>
(i) (viii) (ix) (x) (xi) (xii) (xiii) (xv) (xvi)
- ----- ---------- -------------- ------ --------- ---------- -------- ----------------------
CUT-OFF
MORTGAGE SCHEDULED DATE MORTGAGE MASTER FIXED
LOAN MATURITY PRINCIPAL INSURANCE SERVICE SERVICE RETAINED
NUMBER DATE BALANCE LTV SUBSIDY CODE FEE FEE YIELD
- -------- ----------- -------------- ------ --------- ---------- -------- ----------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
7414014 1-Dec-29 $ 253,957.65 25.45 0.250 0.017 0.000
7679121 1-Jan-30 $ 254,047.91 67.87 0.250 0.017 0.108
7963814 1-Jan-30 $ 254,130.45 61.33 0.250 0.017 0.000
8007135 1-Jan-30 $ 254,139.60 63.63 0.250 0.017 0.000
8008498 1-Jan-30 $ 254,148.5 55.33 0.250 0.017 0.108
$ 1,270,424.18
</TABLE>
COUNT: 5
WAC: 7.77499815
WAM: 357.8001001
WALTV: 54.72520011
<PAGE>
EXHIBIT F-2
[Schedule of Mortgage Loans Serviced by Norwest Mortgage in Frederick,
Maryland]
NASCOR
NMI / 2000-02 Exhibit F-2
30 YEAR FIXED RATE NON RELOCATION LOANS
<TABLE>
<CAPTION>
(i) (ii) (iii) (iv) (v) (vi) (vii)
- ----- --------------------------- ----- ----- -------- -------- -------- ---------- --------
NET
MORTGAGE MORTGAGE MORTGAGE CURRENT ORIGINAL
LOAN ZIP PROPERTY INTEREST INTEREST MONTHLY TERM TO
NUMBER CITY STATE CODE TYPE RATE RATE PAYMENT MATURITY
- -------- -------------------------------------------- -------- -------- -------- ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
4808083 LARGO FL 33774 SFD 7.750 7.483 $ 1,851.21 360
4833860 LARCHMONT NY 10538 SFD 8.375 7.500 $ 3,040.29 360
4866697 FRESNO CA 93720 SFD 8.000 7.500 $ 4,519.99 360
4936199 HAILEY ID 83333 SFD 8.500 7.500 $ 2,983.39 360
4996758 SWEENY TX 77480 SFD 7.625 7.358 $ 1,785.41 360
5006354 BROOKLYN NY 11215 HCO 8.375 7.500 $ 2,158.61 360
5010266 NEW YORK NY 10022 COP 8.375 7.500 $ 2,280.22 360
5012003 ALEXANDRIA NJ 08848 SFD 8.125 7.500 $ 4,826.24 360
5012434 DAVIS CA 95616 SFD 8.125 7.500 $ 2,739.81 360
5017689 DAVIS CA 95616 SFD 7.500 7.233 $ 2,461.24 360
5036357 RINGOES NJ 08551 SFD 7.125 6.858 $ 2,054.85 360
5038487 PLAINSBORO NJ 08536 SFD 8.000 7.500 $ 2,274.68 360
5046296 DRAPER UT 84020 SFD 8.250 7.500 $ 2,005.29 360
5047565 BEDFORD NH 03110 SFD 8.250 7.500 $ 2,070.50 360
5048198 FREEHOLD NJ 07728 SFD 8.250 7.500 $ 2,554.31 360
5055833 AUSTIN TX 78730 SFD 7.875 7.500 $ 2,537.75 360
5061301 ASHVILLE AL 35953 SFD 8.000 7.500 $ 1,625.15 360
5075735 CAMARILLO CA 93010 SFD 7.750 7.483 $ 3,582.07 360
5088438 LAS VEGAS NV 89128 SFD 8.625 7.500 $ 2,333.37 360
5090986 PEARL RIVER NY 10965 SFD 7.625 7.358 $ 1,936.53 360
5093550 SELBYVILLE DE 19975 SFD 8.500 7.500 $ 2,691.20 360
5095416 ARMONK NY 10504 SFD 7.500 7.233 $ 2,587.10 360
5096803 OLD BROOKVILLE NY 11545 SFD 8.375 7.500 $ 4,940.47 360
5100757 MANHATTAN BEACH CA 90266 SFD 7.875 7.500 $ 2,704.51 360
5100878 DOWINGTOWN PA 19335 SFD 7.750 7.483 $ 1,790.82 360
5102072 QUEENS NY 11366 SFD 8.250 7.500 $ 2,300.58 240
5105017 HOBOKEN NJ 07030 LCO 8.750 7.500 $ 2,092.63 360
5110863 MT. KISCO NY 10549 SFD 8.375 7.500 $ 3,040.29 360
5111473 SAN JOSE CA 95124 SFD 7.750 7.483 $ 2,488.36 360
5112177 BELLE MEAD NJ 08502 SFD 8.125 7.500 $ 2,134.09 360
5112731 ROCKVILLE MD 20855 SFD 7.750 7.483 $ 1,820.41 360
5113508 RICHMOND VA 23233 SFD 8.375 7.500 $ 2,280.22 360
5113759 CORTLANDT MANOR NY 10567 SFD 8.000 7.500 $ 3,169.87 360
5114573 NEW YORK NY 10028 COP 8.750 7.500 $ 1,258.73 360
5114788 MAHWAH NJ 07430 SFD 8.000 7.500 $ 4,455.42 360
5115066 PLAINFIELD NJ 07060 SFD 8.500 7.500 $ 2,768.09 360
5115251 SAN DIEGO CA 92123 LCO 7.875 7.500 $ 2,208.92 360
5115351 FRIDAY HARBOR WA 98250 SFD 8.750 7.500 $ 3,732.89 360
5115404 INDEPENDENCE MO 64057 SFD 8.375 7.500 $ 2,547.38 360
5116170 LINCOLN NE 68523 SFD 8.125 7.500 $ 2,910.59 360
5116816 PACIFIC GROVE CA 93950 SFD 8.125 7.500 $ 2,361.14 360
5116881 CHEVY CHASE MD 20815 SFD 8.000 7.500 $ 2,714.93 360
5118107 NEW YORK NY 10023 HCO 8.500 7.500 $ 492.11 36
5118197 GLEN COVE NY 11542 SFD 8.375 7.500 $ 1,520.15 360
5118254 NEW YORK NY 10025 HCO 8.625 7.500 $ 2,313.93 360
5118538 KEW GARDEN HILLS NY 11367 SFD 8.500 7.500 $ 2,245.23 360
5119728 GRAYSON GA 30017 SFD 8.375 7.500 $ 2,707.00 360
5120327 CASTLE ROCK CO 80104 SFD 8.250 7.500 $ 3,560.25 360
5120371 NEW YORK NY 10011 COP 8.875 7.500 $ 2,386.94 360
5121155 BROOKLYN NY 11223 SFD 7.375 7.108 $ 2,610.76 360
5121378 NORMAN OK 73072 SFD 8.250 7.500 $ 3,155.32 360
5121895 NEW PRAGUE MN 56071 SFD 8.125 7.500 $ 1,960.19 360
5121990 NEW YORK NY 10024 COP 8.250 7.500 $ 1,951.79 360
5122136 SCARSDALE NY 10583 SFD 7.875 7.500 $ 2,175.21 360
5122155 FLOWER MOUND TX 75022 SFD 7.875 7.500 $ 2,537.75 360
5122561 WESTWOOD MA 02090 SFD 7.750 7.483 $ 2,234.49 360
5122573 CHEVY CHASE MD 20815 SFD 8.000 7.500 $ 3,235.91 360
5122773 CLOVIS CA 93611 SFD 7.375 7.108 $ 1,757.77 360
5122832 OSPREY FL 34229 SFD 8.500 7.500 $ 2,222.16 360
5122971 MARINA DEL REY CA 90292 MF2 8.375 7.500 $ 4,560.44 360
5123462 LONGBOAT KEY FL 34228 LCO 8.375 7.500 $ 2,223.22 360
5123748 PFAFFTOWN NC 27040 SFD 7.875 7.500 $ 3,088.80 360
5124180 ROGERS AR 72758 SFD 8.000 7.500 $ 2,999.63 360
5124624 NISSEQUOGUE NY 11780 SFD 8.250 7.500 $ 3,515.93 360
5124742 MORRILTON AR 72110 SFD 7.500 7.233 $ 2,097.65 360
5125024 DIX HILLS NY 11746 SFD 7.625 7.358 $ 1,801.34 360
5125211 FORT LEE NJ 07024 HCO 7.875 7.500 $ 2,668.26 360
5125392 MARIETTA GA 30066 SFD 7.875 7.500 $ 1,845.31 360
5125474 ALBUQUERQUE NM 87122 SFD 8.250 7.500 $ 2,248.17 360
5125750 CAPE CORAL FL 33914 SFD 8.000 7.500 $ 2,788.68 360
5126233 NEW ROCHELLE NY 10804 SFD 8.375 7.500 $ 2,280.22 360
5126345 DUNWOODY GA 30338 PUD 7.750 7.483 $ 1,970.85 360
5126519 NEW BRAUNFELS TX 78130 SFD 8.500 7.500 $ 4,305.92 360
5126580 BASTROP TX 78602 SFD 8.000 7.500 $ 2,213.46 352
5126676 GARRETT PARK MD 20896 SFD 7.375 7.108 $ 1,757.77 360
5126983 WOODBURY NY 11797 SFD 8.000 7.500 $ 2,696.58 360
5127042 ATLANTA GA 30327 SFD 8.000 7.500 $ 2,201.30 360
5127146 NORWALK CT 06854 LCO 7.750 7.483 $ 608.95 36
5127163 STILLWATER MN 55082 SFD 8.000 7.500 $ 2,788.31 360
5127248 AURORA CO 80015 SFD 8.000 7.500 $ 2,568.18 360
5127325 LIVERMORE CA 94550 SFD 7.625 7.358 $ 1,801.34 360
5127367 RESTON VA 20194 SFD 7.750 7.483 $ 1,823.27 360
5127415 AUSTIN TX 78705 SFD 7.500 7.233 $ 1,779.51 360
5127499 GREENSBORO NC 27455 SFD 7.250 6.983 $ 1,736.14 360
5127510 REHOBOTH BEACH DE 19971 SFD 7.875 7.500 $ 1,845.31 360
5127637 MCKINNEY TX 75070 SFD 7.625 7.358 $ 1,801.34 360
5127643 BURLINGAME CA 94010 SFD 7.750 7.483 $ 1,823.27 360
5127722 NAPLES FL 34103 SFD 8.250 7.500 $ 2,178.67 360
5127726 SCARSDALE NY 10583 SFD 7.875 7.500 $ 1,845.31 360
5127770 MOORESVILLE NC 28117 SFD 7.500 7.233 $ 1,779.51 360
5127874 RANCHO PALOS VERDES CA 90275 SFD 8.500 7.500 $ 2,652.76 360
5128018 TORRANCE CA 90501 SFD 7.875 7.500 $ 1,845.31 360
5128037 JACKSON HEIGHTS NY 11372 MF2 8.250 7.500 $ 2,839.79 360
5128073 WESTON CT 06883 SFD 7.750 7.483 $ 4,655.96 360
5128134 MINNEAPOLIS MN 55410 SFD 7.875 7.500 $ 1,908.39 360
5128263 FAIRFIELD CT 06430 SFD 7.875 7.500 $ 1,845.31 360
5128434 FLOWER MOUND TX 75028 SFD 8.125 7.500 $ 2,895.74 360
5128603 DES MOINES IA 50315 SFD 9.000 7.500 $ 498.87 36
5128730 TRUCKEE CA 96161 PUD 7.625 7.358 $ 1,801.34 360
5129046 SALEM OR 97302 SFD 8.000 7.500 $ 2,766.30 360
5129160 SAN FRANCISCO CA 94114 SFD 8.875 7.500 $ 3,031.41 360
5129202 RAMONA CA 92065 SFD 7.500 7.233 $ 1,776.01 360
5129213 SAN ANSELMO CA 94960 SFD 7.250 6.983 $ 1,736.14 360
5129227 NEW YORK NY 10128 HCO 7.875 7.500 $ 2,175.21 360
5129273 LOMBARD IL 60148 SFD 8.250 7.500 $ 2,253.81 360
5129299 PENFIELD NY 14580 SFD 8.000 7.500 $ 3,521.34 360
5129536 ANNANDALE VA 22003 SFD 7.500 7.233 $ 1,779.51 360
5129629 WESTON FL 33332 SFD 7.500 7.233 $ 1,779.51 360
5129702 STAMFORD CT 06903 SFD 8.250 7.500 $ 2,779.69 360
5129832 CANTON GA 30144 SFD 7.500 7.233 $ 1,779.51 360
5129866 HUNTINGTON BEACH CA 92648 SFD 7.875 7.500 $ 1,968.56 360
5129927 LA HONDA CA 94020 SFD 7.500 7.233 $ 1,779.51 360
5129989 GREENWICH CT 06830 SFD 7.750 7.483 $ 3,796.99 360
5130226 AUSTIN TX 78731 SFD 7.875 7.500 $ 1,845.31 360
5130500 EAST HILLS NY 11576 SFD 8.375 7.500 $ 3,116.30 360
5130536 FLUSHING NY 11358 MF2 8.750 7.500 $ 2,832.13 360
5130696 BARTONVILLE TX 76226 SFD 8.000 7.500 $ 2,758.96 360
5130853 CHERRY GROVE NY 11782 SFD 8.250 7.500 $ 1,656.55 360
5130887 WALNUT CA 91789 SFD 8.000 7.500 $ 2,201.30 360
5130889 FAIRFIELD CA 94533 SFD 7.500 7.233 $ 1,776.01 360
5131154 CHANHASSEN MN 55317 SFD 8.000 7.500 $ 2,550.93 360
5131903 DELRAY BEACH FL 33483 HCO 8.500 7.500 $ 893.87 36
5131948 BELTON TX 76513 SFD 8.250 7.500 $ 2,426.60 360
5132039 CANTON MI 48187 SFD 8.375 7.500 $ 2,420.45 360
5132173 CATOOSA OK 74015 SFD 8.125 7.500 $ 2,053.00 360
5132226 ATLANTA GA 30350 SFD 8.125 7.500 $ 3,059.09 360
5132379 MASON OH 45040 SFD 7.500 7.233 $ 3,531.04 360
5132503 EAST HAMPTON NY 11937 SFD 8.750 7.500 $ 2,580.38 360
5132576 POUND RIDGE NY 10576 SFD 7.750 7.483 $ 1,074.62 360
5132720 ROSLYN NY 11576 LCO 8.375 7.500 $ 1,520.15 360
5133332 BIRMINGHAM MI 48009 SFD 8.250 7.500 $ 2,253.80 360
5134057 OSSINING NY 10562 SFD 8.625 7.500 $ 2,695.05 360
5134281 JENKS OK 74037 SFD 8.250 7.500 $ 1,923.24 360
5134347 COS COB CT 06807 LCO 8.250 7.500 $ 2,591.87 360
5134574 JACKSONVILLE FL 32256 SFD 8.375 7.500 $ 2,815.31 360
5134674 TAMPA FL 33647 SFD 8.250 7.500 $ 2,136.29 360
5135166 NEWTOWN SQUARE PA 19073 SFD 8.125 7.500 $ 4,826.24 360
5135216 WESTPORT CT 06880 SFD 8.500 7.500 $ 2,595.09 360
5135232 STATEN ISLAND NY 10308 SFD 8.750 7.500 $ 2,163.43 360
5135341 TULSA OK 74132 SFD 7.875 7.500 $ 2,900.28 360
5135630 BROOKLYN NY 11230 SFD 8.250 7.500 $ 3,042.63 360
5135995 SLOATSBURG NY 10974 SFD 8.625 7.500 $ 864.90 36
5136384 SUNNYVALE CA 94087 SFD 8.000 7.500 $ 3,877.95 360
5136508 CHATSWORTH CA 91311 SFD 8.875 7.500 $ 2,820.57 360
5136535 MEMPHIS TN 38117 SFD 8.000 7.500 $ 2,634.95 360
5136579 LAS VEGAS NV 89128 LCO 8.000 7.500 $ 731.38 36
5136597 WESTON FL 33331 SFD 8.375 7.500 $ 2,280.22 360
5136634 MOORESVILLE NC 28117 SFD 8.625 7.500 $ 3,305.61 360
5136796 FALMOUTH ME 04105 SFD 7.875 7.500 $ 2,204.21 360
5136827 BEND OR 97701 SFD 7.875 7.500 $ 3,636.95 360
5136946 BREA CA 92821 SFD 8.500 7.500 $ 1,951.12 360
5137120 WEST HAMPTON BEACH NY 11978 SFD 8.250 7.500 $ 2,524.26 360
5137163 BLOOMFIELD HILLS MI 48302 SFD 8.375 7.500 $ 2,407.80 240
5137322 SUDBURY MA 01776 SFD 8.500 7.500 $ 2,632.76 360
5137428 LOS ANGELES CA 90046 SFD 9.250 7.500 $ 5,174.63 360
5137440 PITTSBURG CA 94565 SFD 8.125 7.500 $ 1,956.48 360
5137472 PACIFICA CA 94044 SFD 8.000 7.500 $ 2,311.36 360
5137481 ORINDA CA 94563 SFD 8.500 7.500 $ 3,758.45 360
5137785 SAN FRANCISCO CA 94103 LCO 7.625 7.358 $ 1,801.34 360
5137793 LAKELAND TN 38002 SFD 8.250 7.500 $ 2,008.77 360
5138053 PLANO TX 75093 SFD 8.000 7.500 $ 2,066.28 360
5138163 FRESH MEADOWS NY 11365 SFD 8.875 7.500 $ 2,112.44 360
5138212 MANSFIELD TX 76063 SFD 8.000 7.500 $ 2,641.55 360
5138295 NEW YORK NY 10025 HCO 8.000 7.500 $ 2,861.69 360
5138487 FOUNTAIN VALLEY CA 92708 SFD 8.250 7.500 $ 2,678.27 360
5138505 MISSION VIEJO CA 92692 SFD 8.500 7.500 $ 1,450.18 360
5138594 COLLIERVILLE TN 38017 SFD 8.375 7.500 $ 3,040.29 360
5138675 CUMMING GA 30041 SFD 7.000 6.733 $ 1,796.32 360
5138793 FREMONT CA 94536 SFD 7.750 7.483 $ 2,005.96 360
5138806 ATLANTA GA 30306 SFD 7.750 7.483 $ 3,402.96 360
5138880 MISSION TX 78572 SFD 7.375 7.108 $ 2,762.71 360
5139105 SILVER SPRING MD 20910 SFD 8.375 7.500 $ 2,918.68 360
5139149 SCOTTSDALE AZ 85260 SFD 8.125 7.500 $ 3,712.49 360
5139188 EAST PALO ALTO CA 94303 SFD 8.375 7.500 $ 2,202.31 360
5139199 GATLINBURG TN 37738 LCO 8.875 7.500 $ 189.31 36
5139244 POTOMAC MD 20854 SFD 8.250 7.500 $ 4,085.02 360
5139293 STILLWATER MN 55082 SFD 8.125 7.500 $ 4,826.23 360
5139363 WESTPORT CT 06880 SFD 8.250 7.500 $ 2,704.56 360
5139564 GROVELAND MA 01834 SFD 8.875 7.500 $ 2,040.83 360
5139602 SCOTTSDALE AZ 85255 SFD 7.750 7.483 $ 1,823.27 360
5139669 WALDPORT OR 97394 SFD 8.375 7.500 $ 1,932.48 360
5139785 FAIRFIELD CT 06430 SFD 8.250 7.500 $ 3,816.44 360
5139814 EASTON CT 06612 SFD 8.500 7.500 $ 2,291.37 360
5139979 UNION CITY CA 94587 SFD 7.500 7.233 $ 3,382.11 360
5140176 BURBANK CA 91505 SFD 8.500 7.500 $ 2,220.24 360
5140241 SAN FRANCISCO CA 94127 SFD 8.250 7.500 $ 3,305.57 360
5140308 SPOTSYLVANIA VA 22553 SFD 8.500 7.500 $ 2,079.53 360
5140323 WESTON FL 33327 SFD 8.250 7.500 $ 1,291.87 360
5140345 MAPLE GROVE MN 55311 SFD 8.375 7.500 $ 2,660.26 360
5140411 SAN JOSE CA 95125 SFD 7.875 7.500 $ 2,283.97 360
5140515 MIAMI FL 33175 SFD 8.250 7.500 $ 2,332.69 360
5140766 HIGHLAND TOWNSHIP MI 48356 SFD 8.000 7.500 $ 2,348.05 360
5141023 MILL NECK NY 11771 SFD 7.875 7.500 $ 2,842.28 360
5141072 NORTHPORT NY 11768 SFD 8.250 7.500 $ 2,328.93 360
5141121 NAPLES FL 34114 SFD 8.625 7.500 $ 577.12 36
5141195 MIAMI FL 33138 SFD 8.500 7.500 $ 2,306.75 360
5141243 BROOKLYN NY 11220 SFD 7.875 7.500 $ 1,957.69 360
5141682 SADDLE RIVER NJ 07458 SFD 7.625 7.358 $ 4,600.66 360
5141688 REDWOOD CITY CA 94065 LCO 8.125 7.500 $ 1,889.66 360
5141701 NEW YORK NY 10023 HCO 8.625 7.500 $ 5,005.08 360
5141758 SAN FRANCISCO CA 94115 SFD 8.500 7.500 $ 3,075.66 360
5141822 OREM UT 84058 SFD 8.125 7.500 $ 2,851.19 360
5142259 SILVER SPRING MD 20915 SFD 8.000 7.500 $ 2,257.06 360
5142269 ELLICOTT CITY MD 21043 SFD 8.125 7.500 $ 2,013.65 360
5142373 ACTON MA 01720 SFD 7.875 7.500 $ 4,495.44 360
5142383 FLOWER MOUND TX 75022 SFD 7.750 7.483 $ 2,420.76 360
5143140 MOORPARK CA 93021 SFD 8.500 7.500 $ 1,956.89 360
5143272 UNIVERSITY PARK TX 75225 SFD 8.125 7.500 $ 2,168.09 360
5143273 ALAMO CA 94507 SFD 8.125 7.500 $ 2,598.75 360
5143373 SAN MARINO CA 91108 SFD 8.000 7.500 $ 4,769.47 360
5143447 NAPERVILLE IL 60565 SFD 8.250 7.500 $ 2,091.16 360
5143727 BREVARD NC 28712 SFD 8.125 7.500 $ 519.75 36
5143804 WESTON FL 33327 SFD 8.125 7.500 $ 2,376.00 360
5143885 DANBURY CT 06811 SFD 8.500 7.500 $ 2,739.64 360
5143910 SPARTA NJ 07871 SFD 7.875 7.500 $ 2,407.23 360
5143916 PLAINVIEW NY 11803 SFD 7.875 7.500 $ 2,145.05 360
5143921 WOODBURY NY 11797 SFD 8.000 7.500 $ 3,969.67 360
5143927 NEWTOWN CT 06470 SFD 8.500 7.500 $ 2,213.70 360
5143943 MANALAPAN NJ 07726 SFD 8.500 7.500 $ 2,037.24 360
5143948 NEW ROCHELLE NY 10804 SFD 8.500 7.500 $ 4,828.78 360
5143955 PARKLAND FL 33067 SFD 7.750 7.483 $ 2,507.44 360
5143962 SPRINGFIELD NJ 07081 SFD 7.750 7.483 $ 1,908.52 360
5143968 SAN FRANCISCO CA 94107 LCO 8.125 7.500 $ 2,572.75 360
5143990 SAINT PETERSBURG FL 33711 SFD 7.875 7.500 $ 2,283.97 360
5144149 NEW YORK NY 10128 HCO 8.000 7.500 $ 4,769.47 360
5144362 ORANGE PARK FL 32073 SFD 8.250 7.500 $ 2,103.55 360
5144527 BOYNTON BEACH FL 33437 SFD 8.125 7.500 $ 2,221.56 360
5144940 STOW MA 01775 SFD 8.375 7.500 $ 2,309.86 360
5145132 RANCHO SANTA MARGARITA CA 92688 SFD 7.875 7.500 $ 1,845.30 360
5145147 CHICAGO IL 60610 HCO 6.250 5.983 $ 1,589.47 360
5145200 GLENDALE AZ 85310 SFD 8.375 7.500 $ 2,455.04 360
5145249 BRIELLE NJ 08730 SFD 8.750 7.500 $ 3,020.93 360
5145269 JERICHO NY 11753 SFD 8.375 7.500 $ 2,346.34 360
5145279 ATLANTA GA 30327 SFD 8.500 7.500 $ 4,176.74 360
5145565 WEST CHESTER PA 19382 SFD 7.000 6.733 $ 1,995.91 360
5145676 WESTON CT 06883 SFD 8.625 7.500 $ 4,161.18 360
5145775 UNIVERSITY PARK TX 75205 SFD 8.125 7.500 $ 2,156.22 360
5146225 WYNNEWOOD PA 19096 SFD 8.500 7.500 $ 2,105.29 360
5146385 LITTLETON CO 80128 SFD 8.625 7.500 $ 5,055.63 360
5146456 COLLIERVILLE TN 38017 SFD 8.625 7.500 $ 2,327.54 360
5146740 CLIFFSIDE PARK NJ 07010 HCO 8.750 7.500 $ 2,506.43 360
5146763 ELKO MN 55020 SFD 8.375 7.500 $ 2,090.20 360
5146784 WOODMERE NY 11598 SFD 8.125 7.500 $ 2,413.12 360
5146990 LITTLE ROCK AR 72211 SFD 8.375 7.500 $ 3,949.34 360
5147117 HIGHLANDS RANCH CO 80126 SFD 8.250 7.500 $ 2,434.10 360
5147194 SAN MARTIN CA 95046 SFD 8.500 7.500 $ 1,781.96 360
5147964 LOVELAND CO 80537 SFD 8.625 7.500 $ 2,106.25 360
5147973 JAMAICA PLAIN MA 02130 SFD 7.750 7.483 $ 2,525.36 360
5147983 HILTON HEAD SC 29928 SFD 8.375 7.500 $ 3,078.29 360
5147998 SAN DIEGO CA 92128 SFD 8.250 7.500 $ 2,884.11 360
5148007 VAIL CO 81657 SFD 8.250 7.500 $ 3,155.32 360
5148014 NEWTON MA 02461 SFD 8.250 7.500 $ 2,629.44 360
5148016 ISLAMORADA FL 33036 SFD 8.250 7.500 $ 2,253.80 360
5148037 BROOKLINE MA 02445 LCO 8.500 7.500 $ 2,311.35 360
5148053 MINNEAPOLIS MN 55405 SFD 8.250 7.500 $ 2,073.50 360
5148061 COLORADO SPRINGS CO 80906 SFD 8.250 7.500 $ 2,765.42 360
5148064 AUSTIN TX 78746 SFD 8.375 7.500 $ 2,417.03 360
5148068 NATICK MA 01760 SFD 8.250 7.500 $ 2,403.46 360
5148077 N TOPSAIL BEACH NC 28460 SFD 8.375 7.500 $ 2,280.22 360
5148086 CORINTH TX 76208 SFD 8.375 7.500 $ 2,674.69 360
5148090 FOUNTAIN HILLS AZ 85268 SFD 8.250 7.500 $ 2,193.70 360
5148091 BOSTON MA 02130 SFD 8.375 7.500 $ 2,249.82 360
5148097 MIRAMAR FL 33027 SFD 8.875 7.500 $ 2,094.14 360
5148098 JUPITER FL 33477 SFD 8.625 7.500 $ 2,737.82 360
5148104 TUCSON AZ 85718 SFD 8.875 7.500 $ 3,599.50 360
5148105 DOWNINGTOWN PA 19335 SFD 8.750 7.500 $ 2,303.46 360
5148109 PLYMOUTH MI 48170 SFD 8.250 7.500 $ 2,223.75 360
5148115 HERNDON VA 20170 SFD 8.250 7.500 $ 2,283.85 360
5148258 SAN JOSE CA 95148 SFD 8.625 7.500 $ 2,146.70 360
5148267 FORT WASHINGTON MD 20744 SFD 8.750 7.500 $ 2,792.79 360
5148276 MUNDELEIN IL 60060 SFD 8.500 7.500 $ 2,300.98 360
5148277 WOODINVILLE WA 98072 SFD 8.250 7.500 $ 2,516.74 360
5148285 CHARLESTOWN MA 02129 SFD 8.625 7.500 $ 2,762.71 360
5148291 PERRYSBURG OH 43551 SFD 8.500 7.500 $ 2,737.33 360
5148298 DUCK NC 27949 SFD 8.500 7.500 $ 2,460.52 360
5148311 ARLINGTON HEIGHTS IL 60004 SFD 8.250 7.500 $ 2,366.49 360
5148323 SAN JOSE CA 95124 SFD 8.250 7.500 $ 2,103.55 360
5148329 MURRIETA CA 92562 SFD 8.500 7.500 $ 2,614.31 360
5148336 POWAY CA 92064 SFD 8.250 7.500 $ 2,253.80 360
5148348 NEWBURY MA 01951 SFD 8.250 7.500 $ 2,554.31 360
5148350 HILTON HEAD ISLAND SC 29928 HCO 8.625 7.500 $ 2,520.04 360
5148353 LAKEWOOD CO 80215 SFD 8.250 7.500 $ 2,013.39 360
5148370 BLOOMFIELD TWP MI 48301 SFD 8.750 7.500 $ 2,706.25 360
5148371 WHIPPANY NJ 07981 SFD 8.250 7.500 $ 1,927.00 360
5148383 BEDFORD MA 01730 SFD 8.250 7.500 $ 3,410.75 360
5148385 NEW ALBANY OH 43054 SFD 8.625 7.500 $ 2,003.20 360
5148397 NORTH GOLDEN CO 80401 SFD 8.250 7.500 $ 2,321.41 360
5148402 ISLE OF PALMS SC 29451 SFD 8.250 7.500 $ 6,761.40 360
5148418 WILMINGTON NC 28403 SFD 8.250 7.500 $ 2,033.34 360
5148435 SCOTTSDALE AZ 85262 SFD 8.250 7.500 $ 2,253.80 360
5148437 OAKHURST NJ 07755 SFD 8.750 7.500 $ 2,328.63 360
5148462 CHICAGO IL 60616 SFD 8.625 7.500 $ 2,688.04 360
5148470 PITTSFIELD TWP MI 48108 SFD 8.625 7.500 $ 2,632.04 360
5148488 ALPHARETTA GA 30005 SFD 8.750 7.500 $ 2,065.09 360
5148499 HERNDON VA 20171 SFD 9.375 7.500 $ 2,251.96 360
5148510 SAN DIEGO CA 92117 SFD 8.250 7.500 $ 2,259.81 360
5148517 HUDSON MA 01749 SFD 8.250 7.500 $ 2,005.51 360
5148519 LOS ANGELES CA 91604 SFD 8.250 7.500 $ 2,281.98 360
5148525 SCOTTSDALE AZ 85262 SFD 8.250 7.500 $ 3,331.12 360
5148527 NOVI MI 48375 SFD 8.375 7.500 $ 3,237.91 360
5148545 EAST GREENWICH RI 02818 SFD 8.750 7.500 $ 2,139.82 360
5148552 FLAGSTAFF AZ 86004 SFD 8.375 7.500 $ 3,192.30 360
5148565 FOLSOM CA 95630 SFD 8.625 7.500 $ 2,097.70 360
5148631 RYE NY 10580 COP 8.875 7.500 $ 2,285.89 360
5148668 HUFFMAN TX 77336 SFD 8.250 7.500 $ 2,662.49 360
5148688 PERRINEVILLE NJ 08535 SFD 8.875 7.500 $ 3,878.77 360
5148696 BOXFORD MA 01921 SFD 8.875 7.500 $ 2,609.72 360
5148706 CHICAGO IL 60610 HCO 8.625 7.500 $ 2,206.82 360
5148734 LA JOLLA CA 92037 SFD 8.250 7.500 $ 4,131.97 360
5148743 GUILFORD CT 06437 SFD 8.250 7.500 $ 2,193.70 360
5148768 BLOOMFIELD HILLS MI 48301 SFD 8.750 7.500 $ 2,360.11 360
5148781 SOUTHERN SHORES NC 27949 SFD 8.250 7.500 $ 2,089.27 360
5148791 POMPANO BEACH FL 33062 SFD 8.250 7.500 $ 2,253.80 360
5148804 CARLSBAD CA 92009 SFD 8.500 7.500 $ 2,947.63 360
5148824 FRAMINGHAM MA 01701 SFD 8.750 7.500 $ 2,537.11 360
5148842 NEWTON MA 02459 SFD 8.750 7.500 $ 3,146.80 360
5149631 CUPERTINO CA 95014 SFD 8.250 7.500 $ 2,115.57 360
5149728 SAN CLEMENTE CA 92672 SFD 9.250 7.500 $ 7,050.33 360
5149974 VIRGINIA BEACH VA 23451 SFD 8.250 7.500 $ 3,020.09 360
5150038 WARREN CT 06754 SFD 8.000 7.500 $ 1,001.59 360
5150210 HIGHLANDS RANCH CO 80126 SFD 8.000 7.500 $ 1,876.24 360
5150218 GAMBRILLS MD 21054 SFD 8.000 7.500 $ 1,969.79 360
5150594 BOCA RATON FL 33428 SFD 8.625 7.500 $ 2,084.48 360
5150756 COLLEYVILLE TX 76034 PUD 8.000 7.500 $ 2,406.75 360
5150968 SUPERIOR CO 80027 PUD 8.375 7.500 $ 2,913.36 360
5151120 WASHINGTON DC 20009 SFD 8.750 7.500 $ 4,084.55 360
5151520 ROCHESTER MI 48307 SFD 8.000 7.500 $ 1,958.79 360
5152164 ISLAMORADA FL 33036 SFD 8.375 7.500 $ 3,040.29 360
5153125 SAN JOSE CA 95131 SFD 8.375 7.500 $ 2,394.23 360
5153386 BERKELEY CA 94703 LCO 7.750 7.483 $ 2,154.61 360
5153438 COLLEYVILLE TX 76034 SFD 8.500 7.500 $ 2,245.23 360
5153520 GREAT NECK NY 11021 SFD 8.250 7.500 $ 3,005.07 360
5154004 BRIDGEWATER NJ 08807 SFD 8.875 7.500 $ 2,326.47 360
5155074 SOUTHLAKE TX 76092 SFD 8.625 7.500 $ 2,520.04 360
5155333 KING OF PRUSSIA PA 19406 SFD 7.750 7.483 $ 2,113.42 360
5155632 PONTE VEDRA BEACH FL 32082 SFD 8.625 7.500 $ 2,637.88 360
5156745 SEATTLE WA 98101 LCO 8.375 7.500 $ 2,365.34 360
5156749 HOLLYWOOD FL 33019 SFD 7.750 7.483 $ 1,823.27 360
5156806 ANDOVER MN 55304 SFD 7.875 7.500 $ 2,708.14 360
5156888 OYSTER BAY COVE NY 11771 SFD 8.125 7.500 $ 4,083.74 360
5157408 ORLANDO FL 32835 SFD 7.875 7.500 $ 2,710.68 360
5158131 SANTA CLARITA CA 91354 SFD 7.875 7.500 $ 2,537.75 360
5158300 RICHMOND VA 23236 SFD 7.875 7.500 $ 2,232.93 360
5158306 SAPULPA OK 74066 SFD 8.125 7.500 $ 2,285.41 360
5158313 NEWTOWN PA 18940 SFD 8.250 7.500 $ 2,191.90 360
5158325 KANSAS CITY MO 64116 SFD 7.750 7.483 $ 3,553.41 360
5158328 WAYNE PA 19087 SFD 7.875 7.500 $ 3,741.36 360
5158436 HUNTINGDON VALLEY PA 19006 SFD 7.875 7.500 $ 2,204.21 360
5158442 JOPPA MD 21085 SFD 8.000 7.500 $ 2,025.20 360
5158453 MENDOTA HEIGHTS MN 55118 SFD 7.875 7.500 $ 2,157.09 360
5158456 MONUMENT CO 80132 SFD 7.750 7.483 $ 1,991.63 360
5158477 LITTLE ROCK AR 72223 SFD 7.875 7.500 $ 4,078.52 360
5158497 HOCKESSIN DE 19707 SFD 8.750 7.500 $ 2,819.53 360
5158549 PONTE VEDRA BEACH FL 32082 SFD 8.250 7.500 $ 2,058.48 360
5158580 RICHMOND VA 23233 SFD 8.000 7.500 $ 3,485.39 360
5158619 HADLEY MA 01035 SFD 7.625 7.358 $ 1,869.00 360
5158635 HAVERFORD PA 19041 SFD 8.375 7.500 $ 2,128.20 360
5158643 STAMFORD CT 06905 SFD 7.625 7.358 $ 1,801.34 360
5158673 ROCHESTER MN 55902 SFD 8.000 7.500 $ 3,668.83 360
5158682 CHESAPEAKE VA 23323 SFD 7.750 7.483 $ 1,977.30 360
5158699 SANTA CRUZ CA 95062 PUD 8.250 7.500 $ 3,756.34 360
5158733 ALBUQUERQUE NM 87111 SFD 8.000 7.500 $ 1,929.43 360
5159293 KILDEER IL 60047 SFD 8.000 7.500 $ 2,384.74 360
5159298 UNION CITY CA 94587 SFD 7.875 7.500 $ 2,029.47 360
5159310 NORTHBROOK IL 60062 SFD 8.125 7.500 $ 2,572.76 360
5159320 NEWINGTON NH 03801 SFD 8.250 7.500 $ 3,305.58 360
5159336 HAGERSTOWN MD 21742 SFD 8.250 7.500 $ 2,389.03 360
5159357 BATON ROUGE LA 70810 SFD 7.750 7.483 $ 2,739.56 360
5159361 AFTON MN 55001 SFD 7.750 7.483 $ 2,220.88 360
5159378 ZIONSVILLE IN 46077 SFD 8.125 7.500 $ 2,227.50 360
5159388 FORT COLLINS CO 80524 SFD 8.125 7.500 $ 2,305.46 360
5159399 CRESTWOOD KY 40014 SFD 8.250 7.500 $ 2,554.31 360
5159402 WEST WINDSOR NJ 08550 SFD 7.750 7.483 $ 2,416.89 360
5159412 WYNNEWOOD PA 19096 SFD 7.875 7.500 $ 2,088.20 360
5159450 MEMPHIS TN 38103 SFD 7.875 7.500 $ 2,059.20 360
5159466 ST PAUL MN 55104 SFD 8.125 7.500 $ 2,338.87 360
5159485 ST CLOUD MN 56301 SFD 7.875 7.500 $ 2,674.06 360
5159872 LONG BEACH CA 90807 SFD 8.375 7.500 $ 3,101.10 360
5160484 CHICAGO IL 60607 HCO 9.500 7.500 $ 2,699.15 360
5161664 CHULA VISTA CA 91910 SFD 8.750 7.500 $ 2,643.31 360
5161782 FORT WORTH TX 76179 SFD 7.750 7.483 $ 2,579.08 360
5161800 BOCA RATON FL 33496 SFD 8.250 7.500 $ 2,253.80 360
5162201 HONOLULU HI 96825 SFD 8.500 7.500 $ 7,689.13 360
5166709 GREAT NECK NY 11023 SFD 8.125 7.500 $ 2,227.49 360
5166987 DAVIDSONVILLE MD 21035 SFD 9.000 7.500 $ 2,821.90 360
5167821 SEABROOK TX 77586 SFD 8.375 7.500 $ 6,384.61 360
6925337 WRIGHTWOOD CA 92397 SFD 8.500 7.500 $ 1,885.76 360
6966007 KINNELON NJ 07405 SFD 8.125 7.500 $ 4,677.73 360
7076559 UNION CITY CA 94587 SFD 7.250 6.983 $ 2,272.72 360
7204013 LITTLE ROCK AR 72223 SFD 8.750 7.500 $ 2,761.32 360
7349061 WASHINGTON DC 20016 SFD 7.250 6.983 $ 2,619.22 360
7385249 SOUTH BARRINGTON IL 60010 SFD 7.375 7.108 $ 4,144.05 360
7428961 FORT WORTH TX 76119 SFD 7.375 7.108 $ 2,928.46 360
7461842 HENDERSONVILLE TN 37075 SFD 7.625 7.358 $ 2,519.75 360
7473315 MESA AZ 85207 SFD 8.250 7.500 $ 2,651.22 360
7507860 FORT COLLINS CO 80525 SFD 7.875 7.500 $ 4,712.95 360
7542787 SILVER SPRING MD 20902 SFD 7.500 7.233 $ 1,938.22 360
7568501 EL PASO TX 79912 SFD 8.250 7.500 $ 2,896.88 360
7570809 BOULDER CO 80302 SFD 8.250 7.500 $ 3,944.15 360
7590581 VALRICO FL 33594 SFD 6.750 6.483 $ 1,751.21 360
7591649 SAN ANTONIO TX 78229 SFD 8.750 7.500 $ 2,078.74 360
7598229 SAN DIEGO CA 92131 SFD 8.000 7.500 $ 4,769.47 360
7610556 WEATHERFORD TX 76042 SFD 8.125 7.500 $ 2,316.59 360
7611675 SIOUX FALLS SD 57108 SFD 8.500 7.500 $ 2,181.25 360
7615441 AMBLER PA 19002 SFD 7.250 6.983 $ 2,248.44 360
7628540 BROOMFIELD CO 80020 SFD 8.125 7.500 $ 2,962.98 360
7638868 BULVERDE TX 78013 SFD 7.625 7.358 $ 2,663.43 360
7647285 BAKERSFIELD CA 93309 SFD 7.875 7.500 $ 3,117.80 360
7654759 FORT COLLINS CO 80524 SFD 8.250 7.500 $ 3,005.07 360
7655077 GLENWOOD MD 21738 SFD 8.125 7.500 $ 2,747.98 360
7657320 CHAPEL HILL NC 27516 SFD 6.500 6.233 $ 2,195.10 360
7670872 POTOMAC FALLS VA 20165 SFD 7.375 7.108 $ 2,438.08 360
7689208 ANTIOCH CA 94509 SFD 8.000 7.500 $ 2,793.07 360
7691726 NEENAH WI 54956 SFD 8.500 7.500 $ 2,460.52 360
7695065 PONTE VEDRA FL 32082 SFD 8.000 7.500 $ 2,594.78 360
7697913 LAGUNA NIGUEL CA 92677 SFD 6.750 6.483 $ 2,399.81 360
7704727 ZEPHYR COVE NV 89448 SFD 7.875 7.500 $ 2,936.53 360
7712071 FAIRFAX VA 22033 SFD 8.250 7.500 $ 4,583.48 360
7712103 ELLICOTT CITY MD 21043 SFD 7.750 7.483 $ 2,378.49 360
7712175 CHICAGO IL 60611 HCO 8.500 7.500 $ 3,207.91 360
7717602 HOTCHKISS CO 81419 SFD 8.625 7.500 $ 2,831.15 360
7724222 DULUTH MN 55811 SFD 7.750 7.483 $ 2,382.07 360
7726690 RENO NV 89509 SFD 7.500 7.233 $ 3,496.07 360
7726700 CAVE CREEK AZ 85331 SFD 8.500 7.500 $ 3,111.02 360
7731891 ACTON CA 93510 SFD 8.250 7.500 $ 2,981.78 360
7744673 GRAND JUNCTION CO 81506 SFD 8.125 7.500 $ 2,127.97 360
7749266 BIG SPRING TX 79720 SFD 8.125 7.500 $ 3,304.11 360
7750393 BAKERSFIELD CA 93312 SFD 8.000 7.500 $ 2,212.05 360
7761468 SOUTH RIDING VA 20152 SFD 7.625 7.358 $ 2,228.13 360
7772636 SHOREWOOD MN 55331 SFD 8.375 7.500 $ 3,648.35 360
7782062 SAN JOSE CA 95135 SFD 7.875 7.500 $ 2,116.48 360
7782093 SAN JOSE CA 95135 SFD 7.750 7.483 $ 3,264.19 360
7783848 SOUTH RIDING VA 20152 SFD 8.000 7.500 $ 2,622.11 360
7798379 COLUMBIA MD 21044 LCO 7.625 7.358 $ 948.44 36
7806082 ANTIOCH CA 94509 SFD 7.875 7.500 $ 2,181.01 360
7820293 FREEHOLD NJ 07728 SFD 8.500 7.500 $ 2,816.53 360
7822909 CHAPEL HILL NC 27514 SFD 8.000 7.500 $ 3,629.20 360
7828038 TIGARD OR 97223 SFD 8.375 7.500 $ 2,277.94 360
7829621 FREEHOLD NJ 07728 SFD 8.500 7.500 $ 2,690.04 360
7829796 SOLANO NM 87746 SFD 8.625 7.500 $ 777.79 36
7830792 VIENNA VA 22182 SFD 7.500 7.233 $ 4,330.24 360
7833389 BAKERSFIELD CA 93311 SFD 8.250 7.500 $ 3,301.44 360
7835295 PITTSFORD NY 14534 SFD 7.875 7.500 $ 2,900.28 360
7844106 COTTAGE GROVE MN 55016 SFD 8.375 7.500 $ 1,922.98 360
7853095 FT WORTH TX 76107 SFD 8.125 7.500 $ 2,969.99 360
7856125 PORT JEFFERSON NY 11777 LCO 8.500 7.500 $ 1,537.83 360
7856415 ESTERO FL 33928 SFD 8.125 7.500 $ 2,324.02 360
7859265 HOUSTON TX 77024 HCO 7.500 7.233 $ 2,733.93 360
7861809 DANBURY CT 06811 SFD 8.000 7.500 $ 2,112.66 360
7868727 MISSION VIEJO CA 92692 SFD 7.875 7.500 $ 2,605.54 360
7873106 BELLE MEAD NJ 08502 SFD 8.000 7.500 $ 2,348.05 360
7873403 BURBANK CA 91505 SFD 8.000 7.500 $ 1,375.81 360
7873642 SAN JOSE CA 95123 SFD 7.875 7.500 $ 2,211.46 360
7884879 LAKE ELMO MN 55042 SFD 8.500 7.500 $ 2,547.41 360
7885274 ANTIOCH CA 94509 SFD 7.875 7.500 $ 2,099.80 360
7885775 SAN DIEGO CA 92131 SFD 8.250 7.500 $ 2,902.14 360
7886324 ORADELL NJ 07649 SFD 8.625 7.500 $ 2,432.93 360
7888968 MARLBORO NJ 07746 SFD 7.375 7.108 $ 2,624.57 360
7890807 ROSEVILLE CA 95678 SFD 8.375 7.500 $ 3,162.18 360
7907286 SAN FRANCISCO CA 94121 SFD 7.875 7.500 $ 2,059.20 360
7907729 LANDENBERG PA 19350 SFD 7.875 7.500 $ 2,118.09 360
7913622 LAGRANGE GA 30240 SFD 8.000 7.500 $ 4,769.47 360
7929933 FONTANA CA 92336 SFD 8.500 7.500 $ 603.60 36
7933224 MONTVALE NJ 07645 SFD 8.250 7.500 $ 2,479.18 360
7934976 EDEN PRAIRIE MN 55417 SFD 8.125 7.500 $ 2,672.99 360
7936469 LUBBOCK TX 79424 SFD 8.750 7.500 $ 5,900.25 360
7937172 SAN BUENAVENTURA CA 93003 SFD 7.875 7.500 $ 1,953.74 360
7940314 MENDHAM TOWNSHIP NJ 07960 SFD 8.625 7.500 $ 2,898.04 360
7941211 SIMI VALLEY CA 93065 SFD 7.625 7.358 $ 2,373.71 360
7942545 LAKE FOREST IL 60045 SFD 8.500 7.500 $ 4,978.71 360
7944334 PHOENIX AZ 85044 SFD 8.000 7.500 $ 6,553.99 360
7944988 DANVILLE CA 94506 SFD 8.125 7.500 $ 2,910.59 360
7946908 FORT COLLINS CO 80526 SFD 8.125 7.500 $ 2,375.40 360
7953049 BILLINGS MT 59106 SFD 8.500 7.500 $ 2,766.44 360
7954134 GALLOWAY TWP. NJ 08201 SFD 8.250 7.500 $ 2,157.64 360
7954164 CATOOSA OK 74015 SFD 7.375 7.108 $ 2,099.65 360
7955732 NEVILLEWOOD PA 15142 SFD 8.000 7.500 $ 2,847.01 360
7957444 WINDSOR CO 80550 SFD 8.125 7.500 $ 2,316.59 360
7960168 EDISON NJ 08820 SFD 8.250 7.500 $ 4,669.87 360
7964328 WEST DES MOINES IA 50266 SFD 8.500 7.500 $ 2,545.68 360
7965164 SOUTH ORANGE NJ 07079 SFD 8.500 7.500 $ 984.21 36
7970409 MISSION VIEJO CA 92691 SFD 7.875 7.500 $ 2,900.28 360
7970936 SANTEE CA 92071 SFD 8.000 7.500 $ 1,978.96 360
7972723 TAMPA FL 33606 SFD 8.500 7.500 $ 1,950.35 360
7973201 EUGENE OR 97405 SFD 7.875 7.500 $ 3,299.07 360
7977228 SAN JOSE CA 95125 SFD 8.625 7.500 $ 2,940.05 360
7979139 WOODBRIDGE TWP. NJ 07095 LCO 8.500 7.500 $ 567.46 36
7979408 CHAPEL HILL NC 27516 SFD 8.250 7.500 $ 2,184.68 360
7979757 POTOMAC MD 20854 SFD 8.250 7.500 $ 4,883.23 360
7980285 MIAMI FL 33156 SFD 7.750 7.483 $ 2,292.52 360
7981207 SAN JOSE CA 95120 SFD 8.000 7.500 $ 1,907.79 360
7981656 BOLINAS CA 94924 SFD 8.125 7.500 $ 2,227.49 360
7982587 ZEPHYR COVE NV 89448 LCO 8.500 7.500 $ 4,367.43 360
7983075 ATLANTA GA 30326 HCO 8.125 7.500 $ 2,198.53 360
7983602 SILVER SPRING MD 20906 SFD 8.875 7.500 $ 1,238.82 360
7983838 RICHMOND HILL NY 11418 SFD 8.750 7.500 $ 2,423.04 360
7985832 BOULDER CREEK CA 95006 SFD 8.500 7.500 $ 2,060.69 360
7986018 PLYMOUTH MN 55447 SFD 8.500 7.500 $ 2,983.38 360
7986160 BOLTON MA 01740 SFD 8.500 7.500 $ 3,475.49 360
7986172 CAMAS WA 98607 SFD 8.250 7.500 $ 2,073.91 360
7986723 STATEN ISLAND NY 10312 MF2 8.750 7.500 $ 2,753.45 360
7986725 HOUSTON TX 77345 SFD 8.875 7.500 $ 2,255.65 360
7988361 LAKEWOOD CO 80227 SFD 8.125 7.500 $ 2,071.57 360
7988622 IRVINE CA 92618 SFD 8.250 7.500 $ 2,212.48 360
7989232 IRVINE CA 92620 SFD 7.750 7.483 $ 3,152.21 360
7989423 DALY CITY CA 94080 LCO 8.250 7.500 $ 1,571.81 360
7990171 PERRIS CA 92570 SFD 9.000 7.500 $ 2,271.77 360
7992141 SEATTLE WA 98199 SFD 8.000 7.500 $ 3,081.81 360
7992371 KOLOA HI 96756 LCO 8.500 7.500 $ 1,275.63 360
7993405 OAKLAND CA 94611 SFD 8.500 7.500 $ 3,152.55 360
7993784 COLTS NECK NJ 07722 SFD 7.625 7.358 $ 1,788.59 360
7994127 CHESTERFIELD NJ 08562 SFD 8.750 7.500 $ 2,615.78 360
7994483 WEST WINDSOR NJ 08550 SFD 7.625 7.358 $ 2,123.38 360
7995117 HOLLIS NH 03049 SFD 8.250 7.500 $ 2,490.45 360
7995378 DES MOINES IA 50312 SFD 7.875 7.500 $ 3,149.70 360
7995894 FALLS CHURCH VA 22046 SFD 8.250 7.500 $ 3,901.89 360
7996016 SIMI VALLEY CA 93065 SFD 7.625 7.358 $ 3,503.58 360
7996066 WASHINGTON TWP NJ 08080 SFD 8.250 7.500 $ 2,025.41 360
7996153 LAFAYETTE CO 80026 SFD 7.750 7.483 $ 2,758.19 360
7997247 RALEIGH NC 27614 SFD 7.875 7.500 $ 2,783.69 360
7999041 PONTE VEDRA BEACH FL 32082 SFD 8.000 7.500 $ 1,926.13 360
7999145 BRIDGEWATER NJ 08807 SFD 8.500 7.500 $ 1,922.28 360
7999247 NAPLES FL 34108 SFD 8.250 7.500 $ 4,601.51 360
7999272 DEMAREST NJ 07627 SFD 7.500 7.233 $ 5,873.40 360
7999438 MINNEAPOLIS MN 55410 LCO 7.875 7.500 $ 3,190.31 360
8000012 CHICAGO IL 60614 LCO 8.375 7.500 $ 3,785.16 360
8000339 SANTA CRUZ CA 95060 SFD 8.375 7.500 $ 2,122.12 360
8001842 CHAPEL HILL NC 27514 SFD 7.875 7.500 $ 3,190.31 360
8002358 CINCINNATI OH 45208 SFD 8.375 7.500 $ 2,736.26 360
8002890 TUSTIN CA 92781 SFD 8.125 7.500 $ 4,209.96 360
8003093 LADERA RANCH CA 92694 SFD 8.125 7.500 $ 2,439.10 360
8003619 BERWYN PA 19312 SFD 7.750 7.483 $ 2,722.37 360
8004385 BOULDER CO 80304 SFD 8.125 7.500 $ 3,526.86 360
8004394 GIG HARBOR WA 98335 SFD 8.125 7.500 $ 2,227.49 360
8005005 COLLEYVILLE TX 76034 SFD 7.625 7.358 $ 2,264.94 360
8005595 DENVER CO 80220 SFD 7.875 7.500 $ 3,335.32 360
8005730 KIHEI HI 96753 SFD 8.375 7.500 $ 6,650.63 360
8005926 NEEDHAM MA 02494 SFD 9.250 7.500 $ 3,455.24 360
8006483 WEST HILLS CA 91304 SFD 7.875 7.500 $ 2,427.53 360
8006517 CHARLOTTE NC 28226 SFD 8.125 7.500 $ 2,969.99 360
8006719 CHEVY CHASE MD 20815 SFD 8.250 7.500 $ 2,636.95 360
8009282 RIVER FALLS WI 54022 SFD 8.000 7.500 $ 3,563.16 360
8012417 BOTHELL WA 98011 LCO 8.250 7.500 $ 691.02 36
8012918 NEW HYDE PARK NY 11040 SFD 8.500 7.500 $ 1,542.44 360
8013126 LOS ANGELES CA 90046 SFD 8.750 7.500 $ 3,215.64 360
8013226 KENNESAW GA 30144 SFD 8.250 7.500 $ 2,381.52 240
8014303 CARLSBAD CA 92084 SFD 8.750 7.500 $ 4,720.20 360
8015137 MT. AIRY MD 21771 SFD 7.625 7.358 $ 2,154.52 360
8016030 FAIRFAX STATION VA 22039 SFD 7.750 7.483 $ 2,120.58 360
8016171 NAPERVILLE IL 60565 SFD 8.250 7.500 $ 2,649.72 360
8018906 GAITHERSBURG MD 20882 SFD 7.875 7.500 $ 2,157.81 360
8019704 WATKINSVILLE GA 30677 SFD 8.125 7.500 $ 3,266.99 360
8019966 SILVER SPRING MD 20905 PUD 7.625 7.358 $ 3,521.27 360
8020011 SAN JOSE CA 95148 SFD 8.750 7.500 $ 1,573.40 360
8020599 ATLANTA GA 30319 SFD 8.250 7.500 $ 2,704.56 360
8021090 SAN ANTONIO TX 78209 SFD 8.250 7.500 $ 796.34 36
8021553 SUMMIT NJ 07901 SFD 9.250 7.500 $ 2,230.68 360
8021564 ORLANDO FL 32835 SFD 8.250 7.500 $ 607.02 36
8022237 WEST ROXBURY MA 02132 SFD 8.125 7.500 $ 2,762.09 360
8023275 TEMECULA CA 92592 SFD 8.250 7.500 $ 2,543.56 360
8023439 CLEMENTS CA 95227 SFD 8.250 7.500 $ 3,395.73 360
8023618 PLANO TX 75093 SFD 8.375 7.500 $ 4,165.20 360
8023686 MANCHESTER CT 06040 SFD 8.750 7.500 $ 2,407.30 360
8024367 W. WINDSOR NJ 08550 SFD 9.125 7.500 $ 2,746.01 360
8024553 WALNUT CREEK CA 94598 SFD 8.000 7.500 $ 2,453.71 360
8025799 WRIGHTWOOD CA 92397 SFD 8.000 7.500 $ 1,915.13 360
8026138 FAYETTEVILLE GA 30214 SFD 8.000 7.500 $ 1,915.13 360
8026244 TALLAHASSEE FL 32312 SFD 8.625 7.500 $ 3,033.38 360
8026270 BURR RIDGE IL 60521 SFD 8.375 7.500 $ 2,812.27 360
8026469 ROCKLIN CA 95765 SFD 8.500 7.500 $ 2,036.41 360
8026683 LAKE IN THE HILLS IL 60102 SFD 8.500 7.500 $ 2,245.23 360
8029041 HENDERSON NV 89014 SFD 8.000 7.500 $ 2,663.79 360
8029792 CLEAR LAKE MN 55319 SFD 8.250 7.500 $ 2,163.65 360
8030233 LAREDO TX 78041 SFD 7.875 7.500 $ 3,262.81 360
8031771 SEATTLE WA 98116 SFD 8.500 7.500 $ 2,798.46 360
8032940 RENO NV 89502 SFD 8.500 7.500 $ 2,059.92 360
8033189 AVON NC 27915 SFD 8.375 7.500 $ 2,333.42 360
8034318 MAHWAH TOWNSHIP NJ 07430 LCO 8.625 7.500 $ 2,271.15 360
8034382 WASHINGTON DC 20016 SFD 7.750 7.483 $ 2,395.68 360
8034877 OAK ISLAND NC 28465 SFD 8.375 7.500 $ 2,660.25 360
8035809 CLIFTON NJ 07011 MF2 9.000 7.500 $ 1,802.35 360
8036041 LA HONDA CA 94020 SFD 8.375 7.500 $ 2,166.21 360
8036062 CANON CITY CO 81212 SFD 9.000 7.500 $ 4,023.11 360
8036427 KEY WEST FL 33040 SFD 8.875 7.500 $ 3,819.10 360
8037503 ALBANY OR 97321 SFD 8.750 7.500 $ 944.04 36
8037638 CHICAGO IL 60610 SFD 8.250 7.500 $ 2,986.29 360
8039524 BOULDER CO 80302 SFD 8.375 7.500 $ 2,265.02 360
8040054 PORTLAND OR 97212 SFD 9.125 7.500 $ 2,472.63 360
8041465 HONOLULU HI 96821 SFD 8.375 7.500 $ 3,617.94 360
8043611 BILOXI MS 39530 SFD 8.750 7.500 $ 786.70 36
8044236 DENVER CO 80231 SFD 8.500 7.500 $ 2,650.27 360
8045852 ORONO MN 55356 SFD 8.500 7.500 $ 3,075.65 360
8047381 MALABAR FL 32950 SFD 9.250 7.500 $ 2,954.23 360
8047637 EL DORADO HILLS CA 95762 SFD 8.375 7.500 $ 2,512.42 360
8048338 SAN JOSE CA 95110 SFD 8.250 7.500 $ 2,268.83 360
8048551 NEW YORK NY 10021 HCO 8.875 7.500 $ 4,853.43 360
8048596 CHICAGO IL 60613 MF2 8.750 7.500 $ 2,986.31 360
8048964 WESTERVILLE OH 43082 SFD 7.625 7.358 $ 2,901.95 360
8049986 CHAPEL HILL NC 27514 SFD 8.500 7.500 $ 2,127.39 360
8052850 TABERNASH CO 80478 SFD 8.625 7.500 $ 3,577.83 360
8055156 AVALON CA 90704 LCO 8.875 7.500 $ 2,100.50 360
8057860 LA HABRA HEIGHTS CA 90631 SFD 8.750 7.500 $ 3,964.97 360
8059822 ARLINGTON TX 76015 SFD 9.125 7.500 $ 1,128.51 360
8061470 DUCK NC 27949 SFD 8.750 7.500 $ 2,643.31 360
8065961 HOUSTON TX 77005 SFD 8.250 7.500 $ 1,126.90 360
</TABLE>
TABLE (CONTINUED)
<TABLE>
<CAPTION>
(i) (viii) (ix) (x) (xi) (xii) (xiii) (xv) (xvi)
- ----- ---------- -------------- ------ --------- ---------- -------- ---------- ------------
CUT-OFF
MORTGAGE SCHEDULED DATE MORTGAGE MASTER FIXED
LOAN MATURITY PRINCIPAL INSURANCE SERVICE SERVICE RETAINED
NUMBER DATE BALANCE LTV SUBSIDY CODE FEE FEE YIELD
- -------- ----------- -------------- ------ --------- ---------- -------- --------- ------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
4808083 1-May-28 $ 251,165.05 80.00 0.250 0.017 0.000
4833860 1-Feb-30 $ 399,751.38 53.69 0.250 0.017 0.608
4866697 1-Jul-29 $ 612,615.23 80.00 0.250 0.017 0.233
4936199 1-Feb-30 $ 387,764.94 74.62 0.250 0.017 0.733
4996758 1-Dec-28 $ 249,095.29 94.90 11 0.250 0.017 0.000
5006354 1-Mar-30 $ 284,000.00 80.00 0.250 0.017 0.608
5010266 1-Feb-30 $ 299,813.53 55.56 0.250 0.017 0.608
5012003 1-Mar-30 $ 650,000.00 76.47 0.250 0.017 0.358
5012434 1-Jan-30 $ 368,515.62 90.00 11 0.250 0.017 0.358
5017689 1-Dec-29 $ 350,607.62 80.00 0.250 0.017 0.000
5036357 1-Dec-29 $ 304,263.91 59.80 0.250 0.017 0.000
5038487 1-Jan-30 $ 309,582.59 55.24 0.250 0.017 0.233
5046296 1-Jan-30 $ 266,518.56 95.00 01 0.250 0.017 0.483
5047565 1-Feb-30 $ 275,424.25 74.99 0.250 0.017 0.483
5048198 1-Jan-30 $ 339,564.89 66.28 0.250 0.017 0.483
5055833 1-Feb-30 $ 349,759.13 64.47 0.250 0.017 0.108
5061301 1-Jan-30 $ 221,181.77 68.48 0.250 0.017 0.233
5075735 1-Nov-29 $ 498,574.65 52.63 0.250 0.017 0.000
5088438 1-Sep-29 $ 298,918.00 93.35 13 0.250 0.017 0.858
5090986 1-Jan-30 $ 273,202.68 80.00 0.250 0.017 0.000
5093550 1-Dec-29 $ 349,359.38 58.33 0.250 0.017 0.733
5095416 1-Jan-30 $ 369,449.08 57.07 0.250 0.017 0.000
5096803 1-Feb-30 $ 649,595.99 48.15 0.250 0.017 0.608
5100757 1-Sep-29 $ 371,339.63 66.02 0.250 0.017 0.108
5100878 1-Sep-29 $ 248,711.24 53.17 0.250 0.017 0.000
5102072 1-Jan-20 $ 269,108.29 84.38 06 0.250 0.017 0.483
5105017 1-Feb-30 $ 265,846.95 95.00 01 0.250 0.017 0.983
5110863 1-Jan-30 $ 399,439.79 76.92 0.250 0.017 0.608
5111473 1-Jan-30 $ 346,843.11 75.00 0.250 0.017 0.000
5112177 1-Jan-30 $ 287,042.69 80.00 0.250 0.017 0.358
5112731 1-Jan-30 $ 253,740.14 70.00 0.250 0.017 0.000
5113508 1-Jan-30 $ 299,625.75 80.00 0.250 0.017 0.608
5113759 1-Jan-30 $ 431,122.62 80.00 0.250 0.017 0.233
5114573 1-Jan-30 $ 159,815.21 66.67 0.250 0.017 0.983
5114788 1-Jan-30 $ 606,382.44 80.00 0.250 0.017 0.233
5115066 1-Jan-30 $ 359,562.28 90.00 GD10YR 06 0.250 0.017 0.733
5115251 1-Jan-30 $ 304,194.51 79.99 0.250 0.017 0.108
5115351 1-Nov-29 $ 473,206.66 65.00 0.250 0.017 0.983
5115404 1-Nov-29 $ 334,307.99 79.99 0.250 0.017 0.608
5116170 1-Jan-30 $ 391,485.42 80.00 0.250 0.017 0.358
5116816 1-Oct-29 $ 316,945.74 80.00 0.250 0.017 0.358
5116881 1-Jan-30 $ 369,401.16 62.71 0.250 0.017 0.233
5118107 1-Feb-30 $ 63,961.22 26.78 0.250 0.017 0.733
5118197 1-Jan-30 $ 199,750.50 66.89 0.250 0.017 0.608
5118254 1-Mar-30 $ 297,500.00 70.00 0.250 0.017 0.858
5118538 1-Jan-30 $ 291,644.95 80.00 0.250 0.017 0.733
5119728 1-Dec-29 $ 355,481.26 85.00 24 0.250 0.017 0.608
5120327 1-Jan-30 $ 473,293.54 80.00 0.250 0.017 0.483
5120371 1-Jan-30 $ 299,662.38 52.17 0.250 0.017 1.108
5121155 1-Feb-30 $ 377,712.36 70.00 0.250 0.017 0.000
5121378 1-Dec-29 $ 419,191.00 73.68 0.250 0.017 0.483
5121895 1-Jan-30 $ 263,653.45 75.21 0.250 0.017 0.358
5121990 1-Jan-30 $ 259,467.54 69.28 0.250 0.017 0.483
5122136 1-Jan-30 $ 299,585.73 65.36 0.250 0.017 0.108
5122155 1-Dec-29 $ 349,272.62 67.31 0.250 0.017 0.108
5122561 1-Jan-30 $ 311,457.57 79.99 0.250 0.017 0.000
5122573 1-Feb-30 $ 440,704.09 70.00 0.250 0.017 0.233
5122773 1-Jan-30 $ 254,111.49 82.10 33 0.250 0.017 0.000
5122832 1-Jan-30 $ 288,547.89 90.00 33 0.250 0.017 0.733
5122971 1-Feb-30 $ 599,627.06 48.00 0.250 0.017 0.608
5123462 1-Jan-30 $ 292,135.11 68.82 0.250 0.017 0.608
5123748 1-Feb-30 $ 425,706.83 78.89 0.250 0.017 0.108
5124180 1-Dec-29 $ 407,971.61 80.00 0.250 0.017 0.233
5124624 1-Jan-30 $ 467,401.09 80.00 0.250 0.017 0.483
5124742 1-Feb-30 $ 299,777.35 75.95 0.250 0.017 0.000
5125024 1-Jan-30 $ 254,130.43 56.56 0.250 0.017 0.000
5125211 1-Jan-30 $ 366,785.21 80.00 0.250 0.017 0.108
5125392 1-Jan-30 $ 254,148.55 78.43 0.250 0.017 0.108
5125474 1-Dec-29 $ 298,673.58 95.00 13 0.250 0.017 0.483
5125750 1-Jan-30 $ 379,538.28 70.00 0.250 0.017 0.233
5126233 1-Jan-30 $ 299,625.76 80.00 0.250 0.017 0.608
5126345 1-Feb-30 $ 274,905.84 79.97 0.250 0.017 0.000
5126519 1-Jan-30 $ 559,319.09 80.00 0.250 0.017 0.733
5126580 1-Jun-29 $ 299,786.54 80.00 0.250 0.017 0.233
5126676 1-Jan-30 $ 254,111.49 67.88 0.250 0.017 0.000
5126983 1-Jan-30 $ 366,487.53 75.00 0.250 0.017 0.233
5127042 1-Jan-30 $ 299,596.06 48.00 0.250 0.017 0.233
5127146 1-Jan-30 $ 81,494.72 28.81 0.250 0.017 0.000
5127163 1-Jan-30 $ 379,488.34 69.66 0.250 0.017 0.233
5127248 1-Jan-30 $ 349,528.73 88.35 06 0.250 0.017 0.233
5127325 1-Jan-30 $ 254,130.43 75.97 0.250 0.017 0.000
5127367 1-Jan-30 $ 254,139.60 59.32 0.250 0.017 0.000
5127415 1-Dec-29 $ 253,929.80 73.77 0.250 0.017 0.000
5127499 1-Jan-30 $ 254,101.72 78.55 0.250 0.017 0.000
5127510 1-Jan-30 $ 254,148.55 56.56 0.250 0.017 0.108
5127637 1-Feb-30 $ 254,315.80 59.65 0.250 0.017 0.000
5127643 1-Jan-30 $ 254,139.60 52.04 0.250 0.017 0.000
5127722 1-Jan-30 $ 287,852.83 58.59 0.250 0.017 0.483
5127726 1-Feb-30 $ 254,324.85 68.78 0.250 0.017 0.108
5127770 1-Jan-30 $ 253,999.81 73.77 0.250 0.017 0.000
5127874 1-Jan-30 $ 344,580.50 69.00 0.250 0.017 0.733
5128018 1-Jan-30 $ 254,147.16 77.12 0.250 0.017 0.108
5128037 1-Mar-30 $ 378,000.00 90.00 33 0.250 0.017 0.483
5128073 1-Feb-30 $ 649,441.31 67.70 0.250 0.017 0.000
5128134 1-Feb-30 $ 263,018.86 80.00 0.250 0.017 0.108
5128263 1-Feb-30 $ 254,324.85 76.89 0.250 0.017 0.108
5128434 1-Jan-30 $ 389,488.04 70.91 0.250 0.017 0.358
5128603 1-Jan-30 $ 61,932.01 49.60 0.250 0.017 1.233
5128730 1-Jan-30 $ 254,130.43 76.66 0.250 0.017 0.000
5129046 1-Feb-30 $ 376,747.03 71.81 0.250 0.017 0.233
5129160 1-Jan-30 $ 380,571.22 60.00 0.250 0.017 1.108
5129202 1-Jan-30 $ 253,621.80 75.82 0.250 0.017 0.000
5129213 1-Feb-30 $ 254,301.46 50.90 0.250 0.017 0.000
5129227 1-Mar-30 $ 300,000.00 46.15 0.250 0.017 0.108
5129273 1-Jan-30 $ 299,616.06 75.90 0.250 0.017 0.483
5129299 1-Jan-30 $ 479,253.84 80.00 0.250 0.017 0.233
5129536 1-Jan-30 $ 254,121.05 77.83 0.250 0.017 0.000
5129629 1-Jan-30 $ 254,121.05 79.10 0.250 0.017 0.000
5129702 1-Feb-30 $ 369,764.06 59.68 0.250 0.017 0.483
5129832 1-Jan-30 $ 254,121.05 78.31 0.250 0.017 0.000
5129866 1-Oct-29 $ 270,553.46 75.00 0.250 0.017 0.108
5129927 1-Jan-30 $ 253,970.12 72.16 0.250 0.017 0.000
5129989 1-Feb-30 $ 529,625.93 55.79 0.250 0.017 0.000
5130226 1-Jan-30 $ 254,148.55 83.47 01 0.250 0.017 0.108
5130500 1-Feb-30 $ 409,745.16 62.60 0.250 0.017 0.608
5130536 1-Jan-30 $ 359,584.23 90.00 33 0.250 0.017 0.983
5130696 1-Jan-30 $ 375,493.73 80.00 0.250 0.017 0.233
5130853 1-Feb-30 $ 220,215.94 70.00 0.250 0.017 0.483
5130887 1-Jan-30 $ 299,596.06 66.33 0.250 0.017 0.233
5130889 1-Jan-30 $ 253,621.80 89.12 06 0.250 0.017 0.000
5131154 1-Jan-30 $ 347,179.91 79.99 0.250 0.017 0.233
5131903 1-Jan-30 $ 116,108.64 75.00 0.250 0.017 0.733
5131948 1-Feb-30 $ 322,794.03 85.00 13 0.250 0.017 0.483
5132039 1-Jan-30 $ 317,598.19 79.99 0.250 0.017 0.608
5132173 1-Feb-30 $ 276,319.14 89.99 24 0.250 0.017 0.358
5132226 1-Feb-30 $ 411,730.49 80.00 0.250 0.017 0.358
5132379 1-Jan-30 $ 504,248.08 71.13 0.250 0.017 0.000
5132503 1-Jan-30 $ 327,621.20 80.00 0.250 0.017 0.983
5132576 1-Mar-30 $ 150,000.00 27.47 0.250 0.017 0.000
5132720 1-Feb-30 $ 199,875.68 44.44 0.250 0.017 0.608
5133332 1-Jan-30 $ 299,616.08 60.00 0.250 0.017 0.483
5134057 1-Jan-30 $ 346,089.37 90.00 06 0.250 0.017 0.858
5134281 1-Feb-30 $ 255,836.76 80.00 0.250 0.017 0.483
5134347 1-Feb-30 $ 344,780.01 63.30 0.250 0.017 0.483
5134574 1-Jan-30 $ 369,937.94 80.00 0.250 0.017 0.608
5134674 1-Feb-30 $ 284,176.67 80.00 0.250 0.017 0.483
5135166 1-Feb-30 $ 649,574.80 67.01 0.250 0.017 0.358
5135216 1-Feb-30 $ 337,295.53 69.95 0.250 0.017 0.733
5135232 1-Feb-30 $ 274,841.78 87.58 33 0.250 0.017 0.983
5135341 1-Jan-30 $ 399,447.63 89.89 24 0.250 0.017 0.108
5135630 1-Mar-30 $ 405,000.00 65.11 0.250 0.017 0.483
5135995 1-Jan-30 $ 111,067.69 80.00 0.250 0.017 0.858
5136384 1-Jan-30 $ 527,788.40 70.00 0.250 0.017 0.233
5136508 1-Jan-30 $ 354,101.03 64.45 0.250 0.017 1.108
5136535 1-Jan-30 $ 358,616.49 90.00 13 0.250 0.017 0.233
5136579 1-Jan-30 $ 99,540.79 75.00 0.250 0.017 0.233
5136597 1-Jan-30 $ 298,618.78 73.17 0.250 0.017 0.608
5136634 1-Jan-30 $ 424,496.35 48.02 0.250 0.017 0.858
5136796 1-Nov-29 $ 303,154.89 80.00 0.250 0.017 0.108
5136827 1-Aug-29 $ 499,135.49 80.00 0.250 0.017 0.108
5136946 1-Dec-29 $ 253,285.56 69.52 0.250 0.017 0.733
5137120 1-Dec-29 $ 334,849.36 80.00 0.250 0.017 0.483
5137163 1-Jan-20 $ 279,088.78 77.35 0.250 0.017 0.608
5137322 1-Feb-30 $ 342,192.57 80.00 0.250 0.017 0.733
5137428 1-Feb-30 $ 628,673.91 84.43 01 0.250 0.017 1.483
5137440 1-Dec-29 $ 262,979.40 89.95 17 0.250 0.017 0.358
5137472 1-Dec-29 $ 314,361.68 75.00 0.250 0.017 0.233
5137481 1-Jan-30 $ 488,205.67 80.00 0.250 0.017 0.733
5137785 1-Dec-29 $ 253,943.88 79.53 0.250 0.017 0.000
5137793 1-Jan-30 $ 266,740.77 86.25 33 0.250 0.017 0.483
5138053 1-Jan-30 $ 281,220.84 80.00 0.250 0.017 0.233
5138163 1-Mar-30 $ 265,500.00 90.00 33 0.250 0.017 1.108
5138212 1-Jan-30 $ 359,515.29 70.02 0.250 0.017 0.233
5138295 1-Feb-30 $ 389,738.31 75.00 0.250 0.017 0.233
5138487 1-Dec-29 $ 355,813.30 66.26 0.250 0.017 0.483
5138505 1-Dec-29 $ 187,327.24 58.94 0.250 0.017 0.733
5138594 1-Jan-30 $ 399,501.02 89.89 01 0.250 0.017 0.608
5138675 1-Feb-30 $ 269,778.68 89.26 13 0.250 0.017 0.000
5138793 1-Feb-30 $ 279,802.37 58.70 0.250 0.017 0.000
5138806 1-Jan-30 $ 474,327.33 67.86 0.250 0.017 0.000
5138880 1-May-28 $ 392,853.36 51.28 0.250 0.017 0.000
5139105 1-Mar-30 $ 384,000.00 80.00 0.250 0.017 0.608
5139149 1-Feb-30 $ 499,672.93 58.82 0.250 0.017 0.358
5139188 1-Jan-30 $ 289,388.56 95.00 11 0.250 0.017 0.608
5139199 1-Jan-30 $ 23,766.22 70.00 0.250 0.017 1.108
5139244 1-Jan-30 $ 543,054.14 74.49 0.250 0.017 0.483
5139293 1-Jan-30 $ 649,146.74 68.42 0.250 0.017 0.358
5139363 1-Mar-30 $ 360,000.00 80.00 0.250 0.017 0.483
5139564 1-Feb-30 $ 256,356.20 75.00 0.250 0.017 1.108
5139602 1-Dec-29 $ 253,957.65 50.90 0.250 0.017 0.000
5139669 1-Dec-29 $ 253,772.61 75.00 0.250 0.017 0.608
5139785 1-Feb-30 $ 507,676.06 80.00 0.250 0.017 0.483
5139814 1-Mar-30 $ 298,000.00 72.68 0.250 0.017 0.733
5139979 1-Dec-29 $ 482,616.30 80.00 0.250 0.017 0.000
5140176 1-Dec-29 $ 288,221.50 75.00 0.250 0.017 0.733
5140241 1-Jan-30 $ 439,436.93 80.00 0.250 0.017 0.483
5140308 1-Jan-30 $ 270,111.09 89.99 13 0.250 0.017 0.733
5140323 1-Jan-30 $ 171,738.94 75.00 0.250 0.017 0.483
5140345 1-Jan-30 $ 349,563.38 69.15 0.250 0.017 0.608
5140411 1-Feb-30 $ 314,767.19 70.00 0.250 0.017 0.108
5140515 1-Jan-30 $ 310,102.64 90.00 11 0.250 0.017 0.483
5140766 1-Jan-30 $ 319,566.40 76.67 0.250 0.017 0.233
5141023 1-Feb-30 $ 391,730.22 80.00 0.250 0.017 0.108
5141072 1-Feb-30 $ 309,802.32 47.69 0.250 0.017 0.483
5141121 1-Feb-30 $ 74,156.19 70.00 0.250 0.017 0.858
5141195 1-Feb-30 $ 299,818.25 93.75 01 0.250 0.017 0.733
5141243 1-Jan-30 $ 269,587.75 77.14 0.250 0.017 0.108
5141682 1-Mar-30 $ 650,000.00 64.68 0.250 0.017 0.000
5141688 1-Jan-30 $ 253,944.48 78.31 0.250 0.017 0.358
5141701 1-Feb-30 $ 643,120.08 65.00 0.250 0.017 0.858
5141758 1-Jan-30 $ 399,513.63 21.11 0.250 0.017 0.733
5141822 1-Jan-30 $ 383,495.92 80.00 0.250 0.017 0.358
5142259 1-Feb-30 $ 307,393.61 80.00 0.250 0.017 0.233
5142269 1-Jan-30 $ 270,844.00 75.00 0.250 0.017 0.358
5142373 1-Mar-30 $ 620,000.00 80.00 0.250 0.017 0.108
5142383 1-Feb-30 $ 337,661.51 79.69 0.250 0.017 0.000
5143140 1-Dec-29 $ 254,034.17 83.44 17 0.250 0.017 0.733
5143272 1-Feb-30 $ 291,808.99 80.00 0.250 0.017 0.358
5143273 1-Feb-30 $ 349,771.04 50.07 0.250 0.017 0.358
5143373 1-Feb-30 $ 649,563.86 78.79 0.250 0.017 0.233
5143447 1-Dec-29 $ 277,813.83 95.00 11 0.250 0.017 0.483
5143727 1-Feb-30 $ 69,954.21 56.45 0.250 0.017 0.358
5143804 1-Mar-30 $ 320,000.00 54.70 0.250 0.017 0.358
5143885 1-Dec-29 $ 355,647.85 80.00 0.250 0.017 0.733
5143910 1-Dec-29 $ 331,310.05 80.00 0.250 0.017 0.108
5143916 1-Dec-29 $ 295,225.18 80.00 0.250 0.017 0.108
5143921 1-Dec-29 $ 539,903.72 78.07 0.250 0.017 0.233
5143927 1-Dec-29 $ 287,373.07 79.99 0.250 0.017 0.733
5143943 1-Jan-30 $ 264,627.84 84.99 17 0.250 0.017 0.733
5143948 1-Dec-29 $ 626,850.56 80.00 0.250 0.017 0.733
5143955 1-Dec-29 $ 349,254.14 60.68 0.250 0.017 0.000
5143962 1-Dec-29 $ 265,316.06 90.00 12 0.250 0.017 0.000
5143968 1-Dec-29 $ 345,815.41 90.00 12 0.250 0.017 0.358
5143990 1-Dec-29 $ 314,345.36 79.75 0.250 0.017 0.108
5144149 1-Oct-29 $ 647,790.05 66.33 0.250 0.017 0.233
5144362 1-Feb-30 $ 279,821.45 70.00 0.250 0.017 0.483
5144527 1-Jan-30 $ 298,663.26 87.03 11 0.250 0.017 0.358
5144940 1-Mar-30 $ 303,900.00 79.99 0.250 0.017 0.608
5145132 1-Jan-30 $ 254,148.57 79.04 0.250 0.017 0.108
5145147 1-Jun-29 $ 255,899.06 69.77 0.250 0.017 0.000
5145200 1-Feb-30 $ 322,799.23 64.21 0.250 0.017 0.608
5145249 1-Feb-30 $ 383,779.07 80.00 0.250 0.017 0.983
5145269 1-Jan-30 $ 308,314.92 70.00 0.250 0.017 0.608
5145279 1-Jan-30 $ 542,539.53 80.00 0.250 0.017 0.733
5145565 1-Feb-30 $ 299,754.09 75.06 0.250 0.017 0.000
5145676 1-Mar-30 $ 535,000.00 30.06 0.250 0.017 0.858
5145775 1-Feb-30 $ 290,210.03 80.00 0.250 0.017 0.358
5146225 1-Feb-30 $ 273,634.13 62.23 0.250 0.017 0.733
5146385 1-Feb-30 $ 649,616.25 45.61 0.250 0.017 0.858
5146456 1-Feb-30 $ 299,073.32 95.00 06 0.250 0.017 0.858
5146740 1-Mar-30 $ 318,600.00 90.00 06 0.250 0.017 0.983
5146763 1-Feb-30 $ 274,829.07 70.88 0.250 0.017 0.608
5146784 1-Dec-29 $ 324,357.87 69.15 0.250 0.017 0.358
5146990 1-Feb-30 $ 519,277.04 80.00 0.250 0.017 0.608
5147117 1-Feb-30 $ 323,793.40 79.99 0.250 0.017 0.483
5147194 1-Jan-30 $ 231,468.21 75.00 0.250 0.017 0.733
5147964 1-Oct-29 $ 269,989.06 80.00 0.250 0.017 0.858
5147973 1-Jan-30 $ 352,000.80 75.00 0.250 0.017 0.000
5147983 1-Nov-29 $ 403,982.49 50.00 0.250 0.017 0.608
5147998 1-Jan-30 $ 383,408.73 80.00 0.250 0.017 0.483
5148007 1-Dec-29 $ 419,191.00 62.31 0.250 0.017 0.483
5148014 1-Oct-29 $ 348,868.61 53.11 0.250 0.017 0.483
5148016 1-Dec-29 $ 299,422.14 89.82 12 0.250 0.017 0.483
5148037 1-Dec-29 $ 300,049.83 90.00 06 0.250 0.017 0.733
5148053 1-Dec-29 $ 275,468.36 80.00 0.250 0.017 0.483
5148061 1-Oct-29 $ 366,910.10 90.00 01 0.250 0.017 0.483
5148064 1-Feb-30 $ 317,802.35 68.39 0.250 0.017 0.608
5148068 1-Dec-29 $ 319,303.76 80.00 0.250 0.017 0.483
5148077 1-Sep-29 $ 298,861.48 75.00 0.250 0.017 0.608
5148086 1-Dec-29 $ 351,239.26 79.99 0.250 0.017 0.608
5148090 1-Nov-29 $ 291,196.80 80.00 0.250 0.017 0.483
5148091 1-Dec-29 $ 295,444.18 80.00 0.250 0.017 0.608
5148097 1-Sep-29 $ 262,265.63 94.99 06 0.250 0.017 1.108
5148098 1-Nov-29 $ 351,159.73 80.00 0.250 0.017 0.858
5148104 1-Nov-29 $ 451,374.19 80.00 0.250 0.017 1.108
5148105 1-Nov-29 $ 292,118.76 89.97 33 0.250 0.017 0.983
5148109 1-Dec-29 $ 295,352.55 80.00 0.250 0.017 0.483
5148115 1-Jan-30 $ 303,610.97 80.00 0.250 0.017 0.483
5148258 1-Oct-29 $ 275,173.46 80.00 0.250 0.017 0.858
5148267 1-Oct-29 $ 353,656.21 77.17 0.250 0.017 0.983
5148276 1-Nov-29 $ 298,253.39 89.92 06 0.250 0.017 0.733
5148277 1-Nov-29 $ 334,136.69 57.27 0.250 0.017 0.483
5148285 1-Oct-29 $ 354,136.27 80.00 0.250 0.017 0.858
5148291 1-Nov-29 $ 355,128.15 80.00 0.250 0.017 0.733
5148298 1-Nov-29 $ 319,216.32 80.00 0.250 0.017 0.733
5148311 1-Dec-29 $ 314,299.95 69.92 0.250 0.017 0.483
5148323 1-Dec-29 $ 279,460.67 73.11 0.250 0.017 0.483
5148329 1-Dec-29 $ 339,377.68 35.79 0.250 0.017 0.733
5148336 1-Jan-30 $ 299,616.08 43.48 0.250 0.017 0.483
5148348 1-Dec-29 $ 339,345.09 47.89 0.250 0.017 0.483
5148350 1-Sep-29 $ 322,831.45 80.00 0.250 0.017 0.858
5148353 1-Dec-29 $ 267,483.80 80.00 0.250 0.017 0.483
5148370 1-Dec-29 $ 343,401.91 80.00 0.250 0.017 0.983
5148371 1-Nov-29 $ 255,838.98 90.00 06 0.250 0.017 0.483
5148383 1-Dec-29 $ 452,107.52 80.00 0.250 0.017 0.483
5148385 1-Oct-29 $ 256,778.70 79.99 0.250 0.017 0.858
5148397 1-Nov-29 $ 308,163.99 64.38 0.250 0.017 0.483
5148402 1-Nov-29 $ 897,680.62 51.43 0.250 0.017 0.483
5148418 1-Sep-29 $ 269,601.52 95.00 01 0.250 0.017 0.483
5148435 1-Nov-29 $ 299,226.88 72.29 0.250 0.017 0.483
5148437 1-Sep-29 $ 294,959.42 88.36 06 0.250 0.017 0.983
5148462 1-Nov-29 $ 344,488.86 89.54 06 0.250 0.017 0.858
5148470 1-Nov-29 $ 337,592.18 90.00 06 0.250 0.017 0.858
5148488 1-Oct-29 $ 261,733.78 75.00 0.250 0.017 0.983
5148499 1-Jul-29 $ 269,625.82 95.00 12 0.250 0.017 1.608
5148510 1-Nov-29 $ 300,024.82 80.00 0.250 0.017 0.483
5148517 1-Dec-29 $ 266,380.21 79.99 0.250 0.017 0.483
5148519 1-Dec-29 $ 303,164.90 75.00 0.250 0.017 0.483
5148525 1-Nov-29 $ 442,257.31 80.00 0.250 0.017 0.483
5148527 1-Dec-29 $ 425,200.10 79.97 0.250 0.017 0.608
5148545 1-Oct-29 $ 271,206.08 80.00 0.250 0.017 0.983
5148552 1-Nov-29 $ 418,944.82 79.85 0.250 0.017 0.608
5148565 1-Aug-29 $ 268,561.06 95.00 01 0.250 0.017 0.858
5148631 1-Feb-30 $ 287,138.93 79.81 0.250 0.017 1.108
5148668 1-Nov-29 $ 353,486.69 65.63 0.250 0.017 0.483
5148688 1-Sep-29 $ 484,991.34 75.00 0.250 0.017 1.108
5148696 1-Oct-29 $ 327,066.87 58.05 0.250 0.017 1.108
5148706 1-Feb-30 $ 283,561.48 90.00 13 0.250 0.017 0.858
5148734 1-Nov-29 $ 548,582.60 66.67 0.250 0.017 0.483
5148743 1-Dec-29 $ 291,437.55 80.00 0.250 0.017 0.483
5148768 1-Nov-29 $ 299,301.98 60.61 0.250 0.017 0.983
5148781 1-Dec-29 $ 277,564.34 90.00 06 0.250 0.017 0.483
5148791 1-Oct-29 $ 299,030.26 64.52 0.250 0.017 0.483
5148804 1-Sep-29 $ 381,623.83 84.98 12 0.250 0.017 0.733
5148824 1-Feb-30 $ 322,314.45 75.00 0.250 0.017 0.983
5148842 1-Mar-30 $ 400,000.00 74.49 0.250 0.017 0.983
5149631 1-Mar-30 $ 281,600.00 80.00 0.250 0.017 0.483
5149728 1-Feb-30 $ 856,555.71 57.13 0.250 0.017 1.483
5149974 1-Mar-30 $ 402,000.00 23.65 0.250 0.017 0.483
5150038 1-Mar-30 $ 136,500.00 65.00 0.250 0.017 0.233
5150210 1-Jan-30 $ 255,255.05 79.99 0.250 0.017 0.233
5150218 1-Jan-30 $ 268,088.56 79.99 0.250 0.017 0.233
5150594 1-Mar-30 $ 268,000.00 80.00 0.250 0.017 0.858
5150756 1-Feb-30 $ 327,779.92 80.00 0.250 0.017 0.233
5150968 1-Feb-30 $ 383,061.75 79.98 0.250 0.017 0.608
5151120 1-Feb-30 $ 518,901.28 80.00 0.250 0.017 0.983
5151520 1-Feb-30 $ 266,770.88 66.74 0.250 0.017 0.233
5152164 1-Feb-30 $ 399,566.13 88.89 06 0.250 0.017 0.608
5153125 1-Feb-30 $ 314,804.21 70.00 0.250 0.017 0.608
5153386 1-Mar-30 $ 300,750.00 75.00 0.250 0.017 0.000
5153438 1-Mar-30 $ 292,000.00 80.00 0.250 0.017 0.733
5153520 1-Feb-30 $ 399,744.93 66.67 0.250 0.017 0.483
5154004 1-Feb-30 $ 292,236.07 89.97 13 0.250 0.017 1.108
5155074 1-Feb-30 $ 323,808.71 80.00 0.250 0.017 0.858
5155333 1-Mar-30 $ 295,000.00 79.80 0.250 0.017 0.000
5155632 1-Mar-30 $ 339,150.00 84.66 33 0.250 0.017 0.858
5156745 1-Feb-30 $ 311,006.58 80.00 0.250 0.017 0.608
5156749 1-Jan-30 $ 254,139.60 72.71 0.250 0.017 0.000
5156806 1-Jan-30 $ 372,984.23 87.49 06 0.250 0.017 0.108
5156888 1-Mar-30 $ 550,000.00 73.33 0.250 0.017 0.358
5157408 1-Jan-30 $ 373,333.74 89.99 01 0.250 0.017 0.108
5158131 1-Mar-30 $ 350,000.00 60.87 0.250 0.017 0.108
5158300 1-Jan-30 $ 307,534.73 80.00 0.250 0.017 0.108
5158306 1-Jan-30 $ 307,395.94 90.00 13 0.250 0.017 0.358
5158313 1-Jan-30 $ 291,386.62 80.00 0.250 0.017 0.483
5158325 1-Jan-30 $ 495,297.58 80.00 0.250 0.017 0.000
5158328 1-Feb-30 $ 515,644.89 80.00 0.250 0.017 0.108
5158436 1-Dec-29 $ 303,059.73 80.00 0.250 0.017 0.108
5158442 1-Jan-30 $ 275,628.37 80.00 0.250 0.017 0.233
5158453 1-Jan-30 $ 297,089.17 85.00 01 0.250 0.017 0.108
5158456 1-Jan-30 $ 277,606.31 66.83 0.250 0.017 0.000
5158477 1-Jan-30 $ 561,723.24 75.00 0.250 0.017 0.108
5158497 1-Oct-29 $ 357,353.87 80.00 0.250 0.017 0.983
5158549 1-Feb-30 $ 273,825.27 80.00 0.250 0.017 0.483
5158580 1-Jan-30 $ 474,360.44 61.29 0.250 0.017 0.233
5158619 1-Jan-30 $ 263,615.78 80.00 0.250 0.017 0.000
5158635 1-Dec-29 $ 279,474.25 80.00 0.250 0.017 0.608
5158643 1-Feb-30 $ 254,315.80 72.10 0.250 0.017 0.000
5158673 1-Jan-30 $ 499,326.77 80.00 0.250 0.017 0.233
5158682 1-Jan-30 $ 275,609.14 80.00 0.250 0.017 0.000
5158699 1-Feb-30 $ 499,681.16 80.00 0.250 0.017 0.483
5158733 1-Jan-30 $ 262,595.96 74.07 0.250 0.017 0.233
5159293 1-Jan-30 $ 324,562.40 76.47 0.250 0.017 0.233
5159298 1-Jan-30 $ 279,513.48 80.00 0.250 0.017 0.108
5159310 1-Feb-30 $ 346,273.33 90.00 11 0.250 0.017 0.358
5159320 1-Feb-30 $ 439,719.42 65.19 0.250 0.017 0.483
5159336 1-Jan-30 $ 317,593.05 94.93 06 0.250 0.017 0.483
5159357 1-Feb-30 $ 382,130.11 90.00 01 0.250 0.017 0.000
5159361 1-Jan-30 $ 309,560.99 80.00 0.250 0.017 0.000
5159378 1-Jan-30 $ 299,606.17 69.77 0.250 0.017 0.358
5159388 1-Jan-30 $ 310,092.39 90.00 11 0.250 0.017 0.358
5159399 1-Feb-30 $ 339,783.19 80.00 0.250 0.017 0.483
5159402 1-Feb-30 $ 337,121.89 80.00 0.250 0.017 0.000
5159412 1-Jan-30 $ 287,602.30 90.00 11 0.250 0.017 0.108
5159450 1-Jan-30 $ 283,607.82 80.00 0.250 0.017 0.108
5159466 1-Feb-30 $ 314,793.94 90.00 01 0.250 0.017 0.358
5159485 1-Jan-30 $ 368,209.40 80.00 0.250 0.017 0.108
5159872 1-Mar-30 $ 408,000.00 69.98 0.250 0.017 0.608
5160484 1-Mar-30 $ 321,000.00 89.92 33 0.250 0.017 1.733
5161664 1-Mar-30 $ 336,000.00 80.00 0.250 0.017 0.983
5161782 1-Feb-30 $ 359,745.92 80.00 0.250 0.017 0.000
5161800 1-Feb-30 $ 299,808.70 64.66 0.250 0.017 0.483
5162201 1-Nov-29 $ 997,550.94 61.73 0.250 0.017 0.733
5166709 1-Mar-30 $ 300,000.00 56.60 0.250 0.017 0.358
5166987 1-Feb-30 $ 350,518.43 74.62 0.250 0.017 1.233
5167821 1-Mar-30 $ 840,000.00 60.00 0.250 0.017 0.608
6925337 1-Oct-29 $ 244,496.55 90.00 17 0.250 0.017 0.733
6966007 1-Jan-30 $ 629,172.99 79.56 0.250 0.017 0.358
7076559 1-Oct-28 $ 328,518.62 80.00 0.250 0.017 0.000
7204013 1-Feb-30 $ 350,798.06 90.00 33 0.250 0.017 0.983
7349061 1-Dec-29 $ 383,046.00 70.00 0.250 0.017 0.000
7385249 1-Jan-30 $ 598,228.14 50.00 0.250 0.017 0.000
7428961 1-Aug-29 $ 421,699.55 80.00 0.250 0.017 0.000
7461842 1-Dec-29 $ 355,121.44 80.00 0.250 0.017 0.000
7473315 1-Jan-30 $ 352,448.39 66.32 0.250 0.017 0.483
7507860 1-Feb-30 $ 649,552.68 72.22 0.250 0.017 0.108
7542787 1-Feb-29 $ 274,413.46 90.00 11 0.250 0.017 0.000
7568501 1-Feb-30 $ 385,354.12 80.00 0.250 0.017 0.483
7570809 1-Jan-30 $ 524,328.15 75.00 0.250 0.017 0.483
7590581 1-Dec-29 $ 269,298.69 72.97 0.250 0.017 0.000
7591649 1-Dec-29 $ 263,775.59 78.88 0.250 0.017 0.983
7598229 1-Jan-30 $ 649,124.82 75.73 0.250 0.017 0.233
7610556 1-Jan-30 $ 311,590.44 80.00 0.250 0.017 0.358
7611675 1-Jan-30 $ 283,335.08 95.00 06 0.250 0.017 0.733
7615441 1-Jan-30 $ 329,082.21 79.81 0.250 0.017 0.000
7628540 1-Jan-30 $ 398,532.15 80.00 0.250 0.017 0.358
7638868 1-Nov-29 $ 375,200.14 79.89 0.250 0.017 0.000
7647285 1-Feb-30 $ 429,704.08 78.18 0.250 0.017 0.108
7654759 1-Feb-30 $ 399,744.93 76.92 0.250 0.017 0.483
7655077 1-Jan-30 $ 369,614.18 80.00 0.250 0.017 0.358
7657320 1-Oct-29 $ 345,501.80 78.04 0.250 0.017 0.000
7670872 1-Jan-30 $ 352,461.15 79.99 0.250 0.017 0.000
7689208 1-Jan-30 $ 380,137.49 79.99 0.250 0.017 0.233
7691726 1-Jan-30 $ 319,610.92 79.01 0.250 0.017 0.733
7695065 1-Jan-30 $ 353,148.86 73.68 0.250 0.017 0.233
7697913 1-Jun-29 $ 367,066.05 74.75 0.250 0.017 0.000
7704727 1-Dec-29 $ 404,158.34 71.05 0.250 0.017 0.108
7712071 1-Feb-30 $ 609,710.96 79.99 0.250 0.017 0.483
7712103 1-Jan-30 $ 331,291.69 80.00 0.250 0.017 0.000
7712175 1-Feb-30 $ 416,947.26 80.00 0.250 0.017 0.733
7717602 1-Feb-30 $ 363,785.10 80.00 0.250 0.017 0.858
7724222 1-Jan-30 $ 332,029.14 70.00 0.250 0.017 0.000
7726690 1-Feb-30 $ 499,628.93 61.73 0.250 0.017 0.000
7726700 1-Mar-30 $ 404,600.00 79.99 0.250 0.017 0.733
7731891 1-Jan-30 $ 396,392.08 90.00 17 0.250 0.017 0.483
7744673 1-Jan-30 $ 286,219.77 79.61 0.250 0.017 0.358
7749266 1-Jan-30 $ 444,415.85 79.46 0.250 0.017 0.358
7750393 1-Feb-30 $ 301,263.72 89.99 11 0.250 0.017 0.233
7761468 1-Jan-30 $ 314,342.87 79.99 0.250 0.017 0.000
7772636 1-Mar-30 $ 480,000.00 80.00 0.250 0.017 0.608
7782062 1-Jan-30 $ 291,496.91 42.19 0.250 0.017 0.108
7782093 1-Dec-29 $ 454,659.01 70.00 0.250 0.017 0.000
7783848 1-Mar-30 $ 357,350.00 79.99 0.250 0.017 0.233
7798379 1-Jan-30 $ 133,805.42 80.00 0.250 0.017 0.000
7806082 1-Jan-30 $ 300,384.62 80.00 0.250 0.017 0.108
7820293 1-Jan-30 $ 365,854.61 83.15 11 0.250 0.017 0.733
7822909 1-Feb-30 $ 494,268.13 80.00 0.250 0.017 0.233
7828038 1-Feb-30 $ 299,513.72 80.00 0.250 0.017 0.608
7829621 1-Jan-30 $ 349,424.62 80.00 0.250 0.017 0.733
7829796 1-Feb-30 $ 99,804.25 52.63 0.250 0.017 0.858
7830792 1-Feb-30 $ 618,840.39 79.99 0.250 0.017 0.000
7833389 1-Feb-30 $ 439,169.78 84.89 17 0.250 0.017 0.483
7835295 1-Feb-30 $ 399,724.72 73.39 0.250 0.017 0.108
7844106 1-Feb-30 $ 252,772.64 82.83 01 0.250 0.017 0.608
7853095 1-Nov-29 $ 398,942.69 78.43 0.250 0.017 0.358
7856125 1-Feb-30 $ 199,878.84 66.89 0.250 0.017 0.733
7856415 1-Jan-30 $ 312,589.11 80.00 0.250 0.017 0.358
7859265 1-Sep-29 $ 389,231.50 80.00 0.250 0.017 0.000
7861809 1-Jan-30 $ 287,532.33 80.00 0.250 0.017 0.233
7868727 1-Jan-30 $ 358,853.76 81.93 33 0.250 0.017 0.108
7873106 1-Dec-29 $ 319,351.54 79.94 0.250 0.017 0.233
7873403 1-Nov-29 $ 186,991.71 75.00 0.250 0.017 0.233
7873642 1-Jan-30 $ 304,578.83 59.11 0.250 0.017 0.108
7884879 1-Feb-30 $ 331,099.30 89.54 06 0.250 0.017 0.733
7885274 1-Jan-30 $ 288,911.07 80.00 0.250 0.017 0.108
7885775 1-Dec-29 $ 385,555.92 89.99 33 0.250 0.017 0.483
7886324 1-Feb-30 $ 312,615.32 80.00 0.250 0.017 0.858
7888968 1-Dec-29 $ 379,127.20 80.00 0.250 0.017 0.000
7890807 1-Jan-30 $ 415,518.02 80.00 0.250 0.017 0.608
7907286 1-Jan-30 $ 283,607.82 80.00 0.250 0.017 0.108
7907729 1-Jan-30 $ 291,718.60 80.00 0.250 0.017 0.108
7913622 1-Sep-29 $ 647,339.18 79.56 0.250 0.017 0.233
7929933 1-Feb-30 $ 78,452.44 61.09 0.250 0.017 0.733
7933224 1-Oct-29 $ 328,290.19 78.95 0.250 0.017 0.483
7934976 1-Jan-30 $ 359,527.43 89.79 01 0.250 0.017 0.358
7936469 1-Jan-30 $ 749,091.67 75.00 0.250 0.017 0.983
7937172 1-Jan-30 $ 269,083.92 80.00 0.250 0.017 0.108
7940314 1-Feb-30 $ 372,380.02 90.00 01 0.250 0.017 0.858
7941211 1-Dec-29 $ 334,635.18 80.00 0.250 0.017 0.000
7942545 1-Jan-30 $ 646,712.72 70.00 0.250 0.017 0.733
7944334 1-Jan-30 $ 891,997.36 70.00 0.250 0.017 0.233
7944988 1-Jan-30 $ 391,485.42 80.00 0.250 0.017 0.358
7946908 1-Dec-29 $ 319,287.91 80.00 0.250 0.017 0.358
7953049 1-Mar-30 $ 359,785.00 79.95 0.250 0.017 0.733
7954134 1-Nov-29 $ 286,459.85 80.00 0.250 0.017 0.483
7954164 1-Nov-29 $ 303,066.16 80.00 0.250 0.017 0.000
7955732 1-Jan-30 $ 387,477.58 80.00 0.250 0.017 0.233
7957444 1-Jan-30 $ 311,590.44 80.00 0.250 0.017 0.358
7960168 1-Jan-30 $ 620,804.53 70.00 0.250 0.017 0.483
7964328 1-Feb-30 $ 330,672.44 95.00 33 0.250 0.017 0.733
7965164 1-Dec-29 $ 127,360.41 80.00 0.250 0.017 0.733
7970409 1-Jan-30 $ 399,447.63 80.00 0.250 0.017 0.108
7970936 1-Feb-30 $ 269,319.04 79.99 0.250 0.017 0.233
7972723 1-Dec-29 $ 253,185.74 95.00 01 0.250 0.017 0.733
7973201 1-Jan-30 $ 454,371.68 70.00 0.250 0.017 0.108
7977228 1-Dec-29 $ 377,325.66 80.00 0.250 0.017 0.858
7979139 1-Feb-30 $ 73,755.29 90.00 11 0.250 0.017 0.733
7979408 1-Dec-29 $ 290,239.88 80.00 0.250 0.017 0.483
7979757 1-Jan-30 $ 649,168.19 68.73 0.250 0.017 0.483
7980285 1-Jan-30 $ 319,546.84 87.67 13 0.250 0.017 0.000
7981207 1-Feb-30 $ 259,233.33 53.61 0.250 0.017 0.233
7981656 1-Jan-30 $ 299,606.19 75.00 0.250 0.017 0.358
7982587 1-Dec-29 $ 566,960.38 80.00 0.250 0.017 0.733
7983075 1-Nov-29 $ 295,317.34 90.00 33 0.250 0.017 0.358
7983602 1-Mar-30 $ 155,700.00 90.00 33 0.250 0.017 1.108
7983838 1-Jan-30 $ 307,644.29 80.00 0.250 0.017 0.983
7985832 1-Jan-30 $ 267,069.88 80.00 0.250 0.017 0.733
7986018 1-Jan-30 $ 387,289.85 80.00 0.250 0.017 0.733
7986160 1-Feb-30 $ 451,726.18 80.00 0.250 0.017 0.733
7986172 1-Jan-30 $ 275,701.73 80.00 0.250 0.017 0.483
7986723 1-Feb-30 $ 349,734.29 63.64 0.250 0.017 0.983
7986725 1-Jan-30 $ 283,180.96 90.00 33 0.250 0.017 1.108
7988361 1-Dec-29 $ 278,448.76 90.00 01 0.250 0.017 0.358
7988622 1-Jan-30 $ 294,123.13 79.99 0.250 0.017 0.483
7989232 1-Jan-30 $ 439,376.91 79.71 0.250 0.017 0.000
7989423 1-Dec-29 $ 208,653.46 70.00 0.250 0.017 0.483
7990171 1-Jan-30 $ 282,030.40 95.00 01 0.250 0.017 1.233
7992141 1-Feb-30 $ 419,718.19 70.00 0.250 0.017 0.233
7992371 1-Jan-30 $ 165,698.27 70.00 0.250 0.017 0.733
7993405 1-Jan-30 $ 409,476.30 63.17 0.250 0.017 0.733
7993784 1-Feb-30 $ 252,517.11 78.97 0.250 0.017 0.000
7994127 1-Dec-29 $ 331,921.90 95.00 06 0.250 0.017 0.983
7994483 1-Jan-30 $ 299,564.36 72.82 0.250 0.017 0.000
7995117 1-Feb-30 $ 328,788.61 85.00 06 0.250 0.017 0.483
7995378 1-Feb-30 $ 434,101.05 80.00 0.250 0.017 0.108
7995894 1-Jan-30 $ 518,710.35 75.00 0.250 0.017 0.483
7996016 1-Jan-30 $ 494,281.19 75.19 0.250 0.017 0.000
7996066 1-Feb-30 $ 269,428.09 80.00 0.250 0.017 0.483
7996153 1-Jan-30 $ 384,454.78 69.60 0.250 0.017 0.000
7997247 1-Feb-30 $ 383,655.79 80.00 0.250 0.017 0.108
7999041 1-Feb-30 $ 262,323.87 70.00 0.250 0.017 0.233
7999145 1-Feb-30 $ 249,848.55 40.00 0.250 0.017 0.733
7999247 1-Jan-30 $ 611,716.17 70.00 0.250 0.017 0.483
7999272 1-Feb-30 $ 839,376.60 80.00 0.250 0.017 0.000
7999438 1-Dec-29 $ 439,085.59 65.19 0.250 0.017 0.108
8000012 1-Jan-30 $ 487,308.98 80.00 0.250 0.017 0.608
8000339 1-Jan-30 $ 278,851.71 80.00 0.250 0.017 0.608
8001842 1-Jan-30 $ 439,392.39 76.52 0.250 0.017 0.108
8002358 1-Feb-30 $ 359,776.24 80.00 0.250 0.017 0.608
8002890 1-Feb-30 $ 566,629.10 79.99 0.250 0.017 0.358
8003093 1-Jan-30 $ 328,068.78 90.00 01 0.250 0.017 0.358
8003619 1-Dec-29 $ 379,189.98 67.69 0.250 0.017 0.000
8004385 1-Feb-30 $ 474,689.29 74.80 0.250 0.017 0.358
8004394 1-Jan-30 $ 299,606.19 60.54 0.250 0.017 0.358
8005005 1-Jan-30 $ 319,035.31 80.00 0.250 0.017 0.000
8005595 1-Jan-30 $ 459,364.78 69.17 0.250 0.017 0.108
8005730 1-Jan-30 $ 873,908.49 70.00 0.250 0.017 0.608
8005926 1-Feb-30 $ 419,782.26 80.00 0.250 0.017 1.483
8006483 1-Jan-30 $ 334,337.68 90.00 01 0.250 0.017 0.108
8006517 1-Jan-30 $ 399,474.91 87.72 01 0.250 0.017 0.358
8006719 1-Feb-30 $ 350,776.18 76.97 0.250 0.017 0.483
8009282 1-Feb-30 $ 485,274.17 80.00 0.250 0.017 0.233
8012417 1-Jan-30 $ 91,862.28 69.37 0.250 0.017 0.483
8012918 1-Jan-30 $ 200,356.10 74.99 0.250 0.017 0.733
8013126 1-Jan-30 $ 408,277.94 75.00 0.250 0.017 0.983
8013226 1-Jan-20 $ 277,311.85 74.53 0.250 0.017 0.483
8014303 1-Feb-30 $ 599,654.80 80.00 0.250 0.017 0.983
8015137 1-Jan-30 $ 303,957.98 90.00 11 0.250 0.017 0.000
8016030 1-Jan-30 $ 295,580.83 80.00 0.250 0.017 0.000
8016171 1-Feb-30 $ 352,475.09 80.00 0.250 0.017 0.483
8018906 1-Jan-30 $ 296,685.75 80.00 0.250 0.017 0.108
8019704 1-Feb-30 $ 439,712.18 80.00 0.250 0.017 0.358
8019966 1-Feb-30 $ 497,139.93 80.00 0.250 0.017 0.000
8020011 1-Feb-30 $ 199,884.93 76.92 0.250 0.017 0.983
8020599 1-Jan-30 $ 359,539.30 90.00 33 0.250 0.017 0.483
8021090 1-Jan-30 $ 105,864.36 73.10 0.250 0.017 0.483
8021553 1-Feb-30 $ 271,009.43 85.00 01 0.250 0.017 1.483
8021564 1-Jan-30 $ 80,696.61 80.00 0.250 0.017 0.483
8022237 1-Jan-30 $ 371,511.67 76.07 0.250 0.017 0.358
8023275 1-Jan-30 $ 338,135.72 80.00 0.250 0.017 0.483
8023439 1-Jan-30 $ 451,421.56 80.00 0.250 0.017 0.483
8023618 1-Feb-30 $ 547,659.38 80.00 0.250 0.017 0.608
8023686 1-Jan-30 $ 305,646.62 90.00 06 0.250 0.017 0.983
8024367 1-Feb-30 $ 337,320.40 90.00 01 0.250 0.017 1.358
8024553 1-Jan-30 $ 333,949.75 80.00 0.250 0.017 0.233
8025799 1-Jan-30 $ 260,648.57 90.00 17 0.250 0.017 0.233
8026138 1-Jan-30 $ 260,648.57 90.00 13 0.250 0.017 0.233
8026244 1-Feb-30 $ 389,769.75 60.00 0.250 0.017 0.858
8026270 1-Jan-30 $ 369,538.44 64.91 0.250 0.017 0.608
8026469 1-Jan-30 $ 264,520.98 75.00 0.250 0.017 0.733
8026683 1-Feb-30 $ 291,823.10 80.00 0.250 0.017 0.733
8029041 1-Feb-30 $ 362,786.41 78.07 0.250 0.017 0.233
8029792 1-Feb-30 $ 287,816.35 80.00 0.250 0.017 0.483
8030233 1-Feb-30 $ 449,690.32 75.63 0.250 0.017 0.108
8031771 1-Jan-30 $ 362,500.39 80.00 0.250 0.017 0.733
8032940 1-Feb-30 $ 267,737.70 94.83 06 0.250 0.017 0.733
8033189 1-Jan-30 $ 306,617.03 66.02 0.250 0.017 0.608
8034318 1-Mar-30 $ 292,000.00 80.00 0.250 0.017 0.858
8034382 1-Feb-30 $ 334,163.99 80.00 0.250 0.017 0.000
8034877 1-Feb-30 $ 349,782.46 53.85 0.250 0.017 0.608
8035809 1-Feb-30 $ 223,877.65 80.00 0.250 0.017 1.233
8036041 1-Feb-30 $ 284,822.85 67.06 0.250 0.017 0.608
8036062 1-Feb-30 $ 499,726.89 79.37 0.250 0.017 1.233
8036427 1-Mar-30 $ 480,000.00 80.00 0.250 0.017 1.108
8037503 1-Feb-30 $ 119,930.96 51.06 0.250 0.017 0.983
8037638 1-Feb-30 $ 397,246.52 75.00 0.250 0.017 0.483
8039524 1-Feb-30 $ 297,814.77 36.34 0.250 0.017 0.608
8040054 1-Feb-30 $ 303,738.28 79.99 0.250 0.017 1.358
8041465 1-Feb-30 $ 475,704.14 80.00 0.250 0.017 0.608
8043611 1-Feb-30 $ 99,942.47 66.89 0.250 0.017 0.983
8044236 1-Mar-30 $ 344,677.00 90.00 33 0.250 0.017 0.733
8045852 1-Feb-30 $ 399,757.68 89.29 01 0.250 0.017 0.733
8047381 1-Feb-30 $ 358,913.83 90.00 33 0.250 0.017 1.483
8047637 1-Feb-30 $ 330,344.54 80.00 0.250 0.017 0.608
8048338 1-Mar-30 $ 302,000.00 88.30 01 0.250 0.017 0.483
8048551 1-Mar-30 $ 610,000.00 75.78 0.250 0.017 1.108
8048596 1-Mar-30 $ 379,600.00 80.00 0.250 0.017 0.983
8048964 1-Mar-30 $ 410,000.00 77.36 0.250 0.017 0.000
8049986 1-Feb-30 $ 276,507.39 70.00 0.250 0.017 0.733
8052850 1-Mar-30 $ 460,000.00 51.11 0.250 0.017 0.858
8055156 1-Feb-30 $ 263,852.00 80.00 0.250 0.017 1.108
8057860 1-Mar-30 $ 504,000.00 80.00 0.250 0.017 0.983
8059822 1-Feb-30 $ 138,626.19 95.00 33 0.250 0.017 1.358
8061470 1-Mar-30 $ 336,000.00 80.00 0.250 0.017 0.983
8065961 1-Mar-30 $ 150,000.00 50.00 0.250 0.017 0.483
$ 211,228,348.81
</TABLE>
COUNT: 605
WAC: 8.186431155
WAM: 357.3926393
WALTV: 75.33661883
<PAGE>
EXHIBIT F-3
[Schedule of Mortgage Loans Serviced by Other Servicers]
NASCOR
NMI / 2000-02 Exhibit F-3
30 YEAR FIXED RATE NON RELOCATION LOANS
<TABLE>
<CAPTION>
(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix)
- -------- --------------------------- ----- ----- -------- -------- -------- --------- -------- --------- ----------------
NET CUT-OFF
MORTGAGE MORTGAGE MORTGAGE CURRENT ORIGINAL SCHEDULED DATE
LOAN ZIP PROPERTY INTEREST INTEREST MONTHLY TERM TO MATURITY PRINCIPAL
NUMBER CITY STATE CODE TYPE RATE RATE PAYMENT MATURITY DATE BALANCE
- -------- --------------------------- ----- ----- -------- -------- -------- --------- -------- --------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
4963164 LAUREL MD 20723 SFD 6.875 6.608 $1,271.82 360 1-Dec-28 $ 191,059.89
4992977 BELLEVUE NE 68123 SFD 8.000 7.500 $2,619.54 360 1-Jan-30 $ 355,967.49
5062196 TULSA OK 74114 SFD 7.875 7.500 $8,286.77 240 1-Dec-19 $ 994,793.17
5109447 GROVE CITY OH 43123 SFD 8.375 7.500 $2,303.78 360 1-Nov-29 $ 302,141.12
5110366 ABITA SPRINGS LA 70420 SFD 8.125 7.500 $3,192.74 360 1-Dec-29 $ 429,150.43
5119675 BOYNTON BEACH FL 33437 SFD 7.875 7.500 $840.00 307 1-Oct-23 $ 107,896.69
5119682 TULSA OK 74137 SFD 7.875 7.500 $827.92 360 1-Sep-27 $ 107,329.21
5119691 CORONA CA 91719 SFD 8.500 7.500 $1,277.66 360 1-Dec-27 $ 155,903.45
5119698 NORTHRIDGEAREA CA 91234 LCO 8.125 7.500 $1,653.51 360 1-Mar-28 $ 206,501.88
5121856 WESTWOOD NJ 07675 SFD 8.000 7.500 $2,384.73 360 1-May-29 $ 321,797.74
5121867 HUNTSVILLE AL 35801 SFD 7.625 7.358 $1,154.01 300 1-Mar-24 $ 140,100.04
5123742 OAKLAND TWP MI 48363 SFD 8.000 7.500 $3,522.07 360 1-Dec-29 $ 479,027.33
5124143 FOLSOM LA 70437 SFD 8.000 7.500 $2,758.95 360 1-Jan-30 $ 375,355.80
5125742 SEATTLE WA 98118 SFD 8.250 7.500 $1,923.24 360 1-Oct-29 $ 255,172.50
5125840 WOODBINE MD 21794 SFD 8.875 7.500 $6,492.46 360 1-Oct-29 $ 813,678.62
5125857 EDISON NJ 08820 SFD 8.750 7.500 $1,298.05 360 1-Sep-29 $ 164,419.97
5133570 HONOR MI 49640 SFD 8.500 7.500 $2,306.75 360 1-Jan-30 $ 299,635.10
5134432 LITTLE ROCK AR 72212 SFD 8.000 7.500 $1,986.67 360 1-Dec-29 $ 270,201.35
5136373 MIMOU LA 70554 SFD 8.125 7.500 $1,971.33 360 1-Feb-30 $ 265,326.33
5139218 PLEASANT VIEW UT 84414 SFD 8.375 7.500 $3,583.74 360 1-Jan-30 $ 470,904.78
5142276 RANCHO CUCAMONGA CA 91701 SFD 8.875 7.500 $2,219.85 360 1-Dec-29 $ 278,527.29
5142288 POTOMAC MD 20854 SFD 7.750 7.483 $3,037.51 240 1-Nov-19 $ 367,383.08
5142297 RIDGEFIELD CT 06877 SFD 8.250 7.500 $4,267.19 360 1-Dec-29 $ 566,905.94
5142303 FT LAUDERDALE FL 33308 SFD 8.000 7.500 $2,653.29 360 1-Nov-29 $ 360,034.79
5142348 FRANKLIN TN 37064 SFD 7.500 7.233 $1,817.96 360 1-Nov-29 $ 259,220.89
5142355 HUNTINGTON STATTION NY 11746 SFD 8.625 7.500 $2,333.37 360 1-Nov-29 $ 299,283.84
5142372 AURORA IL 60504 SFD 7.875 7.500 $1,957.69 360 1-Dec-29 $ 269,142.70
5142436 TULSO OK 74137 SFD 8.125 7.500 $2,280.95 360 1-Dec-29 $ 306,593.06
5142485 DIX HILLS NY 11747 SFD 8.250 7.500 $2,096.03 360 1-Dec-29 $ 278,462.61
5142499 LAKE BLUFF IL 60044 SFD 8.250 7.500 $4,789.33 360 1-Dec-29 $ 636,272.04
5142505 ABILENE TX 79602 SFD 7.875 7.500 $2,283.97 360 1-Dec-29 $ 314,345.37
5142514 WESTBOROUGH MA 01581 SFD 7.500 7.233 $2,180.99 360 1-Dec-29 $ 311,221.18
5142517 LAWRENCE TOWNSHIP NJ 08648 SFD 8.375 7.500 $2,455.04 360 1-Nov-29 $ 322,188.52
5144302 BLOOMSBURG PA 17815 SFD 7.250 6.983 $2,203.43 360 1-Jan-30 $ 322,494.54
5145221 MCLEAN VA 22101 SFD 8.000 7.500 $2,100.77 360 1-Dec-29 $ 285,719.85
5145223 CHANTILLY VA 20151 SFD 7.625 7.358 $2,128.98 360 1-Nov-29 $ 299,889.28
5145232 ROCKVILLE MD 20852 SFD 8.000 7.500 $2,524.16 360 1-Oct-29 $ 342,830.39
5145234 RESTON VA 20194 SFD 7.250 6.983 $1,877.35 360 1-Dec-29 $ 274,552.05
5145240 GARDEN CITY NY 11530 SFD 8.375 7.500 $2,622.25 360 1-Dec-29 $ 344,352.19
5145241 HO HO KUS NJ 07423 SFD 8.375 7.500 $4,940.47 360 1-Oct-29 $ 647,951.55
5145253 FAIRFAX VA 22030 SFD 7.875 7.500 $2,024.39 360 1-Oct-29 $ 278,226.60
5145257 ALEXANDRIA VA 22312 SFD 7.750 7.483 $1,805.36 360 1-Dec-29 $ 251,462.97
5145259 SAN FRANCISCO CA 94107 SFD 7.625 7.358 $3,185.08 360 1-Dec-29 $ 449,016.67
5145268 OAKLAND CA 94619 SFD 7.875 7.500 $2,494.24 360 1-Nov-29 $ 343,043.68
5145273 MILL VALLEY CA 94941 SFD 7.875 7.500 $3,973.39 360 1-Dec-29 $ 546,861.14
5145274 RICHMOND VA 23233 SFD 7.875 7.500 $3,262.82 360 1-Dec-29 $ 449,064.81
5145275 POTOMAC MD 20854 SFD 7.750 7.483 $2,258.71 360 1-Nov-29 $ 314,381.23
5145281 SMYRNA GA 30082 SFD 7.750 7.483 $1,898.86 360 1-Dec-29 $ 264,485.13
5145283 BOXBOROUGH MA 01719 SFD 8.500 7.500 $2,743.49 360 1-Nov-29 $ 355,277.18
5145284 WIRTZ VA 24184 SFD 8.250 7.500 $2,967.51 360 1-Dec-29 $ 394,239.14
5145285 POTOMAC MD 20854 SFD 8.050 7.483 $1,923.49 360 1-Dec-29 $ 260,376.64
5145292 ARLINGTON VA 22207 SFD 7.375 7.108 $1,864.83 360 1-Dec-29 $ 269,379.83
5145294 WILMETTE IL 60091 SFD 8.125 7.500 $3,898.12 360 1-Dec-29 $ 523,655.00
5145300 REHOBOTH MA 02769 SFD 8.250 7.500 $2,554.31 360 1-Nov-29 $ 339,123.78
5145301 BEL AIR MD 21015 SFD 7.800 6.983 $1,979.64 360 1-Dec-29 $ 274,419.82
5145307 CROWNSVILLE MD 21032 SFD 8.250 7.500 $2,629.44 360 1-Dec-29 $ 349,325.82
5145308 OAKTON VA 22124 SFD 7.750 7.483 $2,468.05 360 1-Dec-29 $ 343,765.82
5145309 HIGHLAND PARK IL 60035 SFD 8.250 7.500 $7,512.67 360 1-Nov-29 $ 997,422.90
5145314 GLEN ROCK NJ 07452 SFD 8.000 7.500 $2,348.05 360 1-Jan-30 $ 319,569.13
5145315 WESTPORT CT 06880 SFD 7.250 6.983 $6,821.77 360 1-Dec-29 $ 997,645.52
5145322 STAMFORD CT 06903 SFD 8.375 7.500 $2,736.27 360 1-Jan-30 $ 359,550.90
5145324 RALEIGH NC 27615 SFD 7.750 7.483 $2,493.12 360 1-Dec-29 $ 347,258.37
5145329 BETHESDA MD 20814 SFD 8.250 7.500 $2,956.24 360 1-Nov-29 $ 392,485.89
5145330 MANTOLOKING NJ 08738 SFD 8.125 7.500 $2,923.59 360 1-Dec-29 $ 392,972.04
5145334 HINSDALE IL 60521 SFD 7.875 7.500 $3,924.08 360 1-Dec-29 $ 540,075.29
5145335 FALLSTON MD 21047 SFD 8.000 7.500 $2,054.55 360 1-Dec-29 $ 279,432.58
5145341 RINGOES NJ 08551 SFD 8.125 7.500 $2,294.32 360 1-Jan-30 $ 308,594.37
5145342 FAIRFIELD CT 06430 SFD 7.500 7.233 $2,538.15 360 1-Dec-29 $ 362,186.74
5145345 WESTBURY NY 11590 SFD 8.000 7.500 $1,944.48 360 1-Dec-29 $ 264,463.00
5145348 ARLINGTON VA 22207 SFD 8.000 7.500 $3,668.83 360 1-Nov-29 $ 498,644.54
5145349 EDISON NJ 08820 SFD 8.125 7.500 $2,071.57 360 1-Dec-29 $ 278,448.76
5145351 ROUNG HILL VA 20141 SFD 8.175 7.500 $2,490.90 360 1-Dec-29 $ 333,044.90
5145352 GAITHERSBURG MD 20878 SFD 7.875 7.500 $2,784.27 360 1-Nov-29 $ 382,932.47
5145353 CHARLOTTE NC 28277 SFD 8.550 7.500 $2,495.05 360 1-Dec-29 $ 322,408.01
5145357 BRONXVILLE NY 10708 SFD 8.000 7.500 $3,580.78 360 1-Nov-29 $ 486,179.96
5145364 RUTHERFORD NJ 07070 SFD 8.125 7.500 $2,138.40 360 1-Dec-29 $ 287,430.96
5145369 ROCKVILLE MD 20850 SFD 7.875 7.500 $1,957.69 360 1-Nov-29 $ 269,249.40
5145375 GREENBROOK NJ 08812 SFD 7.500 7.233 $2,796.86 360 1-Dec-29 $ 398,952.90
5145376 WASHINGTON TOWNSHIP NJ 07675 LCO 8.250 7.500 $2,102.80 360 1-Dec-29 $ 279,360.85
5145380 SOUTH RIDING VA 20152 SFD 8.050 7.233 $2,157.20 360 1-Nov-29 $ 291,814.77
5145382 LOS ALTOS CA 94024 SFD 8.000 7.500 $4,006.36 360 1-Nov-29 $ 544,519.84
5145383 COCKEYSVILLE MD 21030 SFD 8.000 7.500 $4,769.47 360 1-Dec-29 $ 648,682.85
5145384 ALEXANDRIA VA 22301 SFD 7.500 7.233 $1,979.48 360 1-Nov-29 $ 282,251.67
5145385 OAKLAND CA 94610 SFD 8.000 7.500 $3,263.79 360 1-Dec-29 $ 443,589.29
5145387 MILTON MA 02186 SFD 8.250 7.500 $3,005.07 360 1-Nov-29 $ 398,969.15
5145391 CROTON ON HUDSON NY 10520 SFD 8.375 7.500 $2,413.99 360 1-Oct-29 $ 316,353.00
5145393 SAN RAMON CA 94583 SFD 7.875 7.500 $2,566.75 360 1-Nov-29 $ 353,015.88
5145395 GREENWICH CT 06830 SFD 8.125 7.500 $4,276.79 360 1-Dec-29 $ 574,861.96
5145397 DUBLIN CA 94568 SFD 8.000 7.500 $2,399.42 360 1-Nov-29 $ 323,687.05
5145401 WYNNEWOOD PA 19096 SFD 8.000 7.500 $3,257.92 360 1-Nov-29 $ 442,796.34
5145402 ATLANTA GA 30306 SFD 7.875 7.500 $2,610.25 360 1-Nov-29 $ 358,219.14
5145406 ROXBURY TOWNSHIP NJ 07876 SFD 7.750 7.483 $2,178.61 360 1-Oct-29 $ 303,012.89
5145411 RIVERSIDE CT 06878 SFD 8.375 7.500 $3,549.54 360 1-Nov-29 $ 465,826.72
5145412 ROANOKE VA 24018 SFD 8.000 7.500 $1,937.14 360 1-Nov-29 $ 263,224.40
5145414 ANTIOCH CA 94509 SFD 7.875 7.500 $2,455.82 360 1-Dec-29 $ 337,996.10
5145418 ASHBURN VA 20147 SFD 8.650 7.500 $2,815.41 360 1-Dec-29 $ 360,509.04
5145419 MILLBURN NJ 07041 SFD 7.875 7.500 $3,299.07 360 1-Nov-29 $ 453,724.43
5145422 HOLMDEL NJ 07733 LCO 8.125 7.500 $3,237.29 360 1-Dec-29 $ 435,138.57
5145424 HINGHAM MA 02043 SFD 8.000 7.500 $1,877.71 360 1-Nov-29 $ 255,206.26
5145426 WASHINGTON DC 20015 SFD 8.000 7.500 $1,949.07 360 1-Nov-29 $ 264,904.89
5145428 BRINKLOW MD 20862 SFD 7.125 6.858 $3,551.84 360 1-Jul-29 $ 523,756.36
5145429 GREAT FALLS VA 22066 SFD 8.000 7.500 $2,494.80 360 1-Nov-29 $ 339,078.30
5145430 OLNEY MD 20832 SFD 7.875 7.500 $2,283.97 360 1-Nov-29 $ 314,124.29
5145433 DARIEN IL 60561 SFD 8.125 7.500 $2,735.36 360 1-Dec-29 $ 367,672.13
5145436 GLEN ALLEN VA 23059 SFD 8.000 7.500 $2,641.56 360 1-Nov-29 $ 359,024.06
5145437 UPPER PROVIDENCE PA 19426 SFD 7.875 7.500 $2,030.20 360 1-Nov-29 $ 279,221.58
5145440 ALDIE VA 20105 SFD 8.000 7.500 $2,201.30 360 1-Dec-29 $ 298,871.32
5145446 ALEXANDRIA VA 22301 SFD 8.125 7.500 $2,137.65 360 1-Nov-29 $ 287,139.00
5145451 MADISON NJ 07940 SFD 8.125 7.500 $2,116.12 360 1-Nov-29 $ 284,246.66
5145453 GIBSON ISLAND MD 21056 SFD 7.875 7.500 $4,024.14 360 1-Nov-29 $ 553,457.09
5145455 RYE NY 10580 SFD 8.250 7.500 $3,041.13 360 1-Dec-29 $ 404,020.28
5145458 OAKLAND NJ 07236 SFD 8.125 7.500 $1,894.86 360 1-Nov-29 $ 254,525.42
5145459 ANTIOCH CA 94509 SFD 7.875 7.500 $2,567.84 360 1-Nov-29 $ 353,165.44
5145462 ARMONK T O NORTH CASTLE NY 10504 SFD 8.250 7.500 $2,629.44 360 1-Dec-29 $ 349,325.82
5145463 BETHESDA MD 20814 SFD 8.125 7.500 $1,841.40 360 1-Dec-29 $ 247,510.00
5145468 NEW YORK NY 10128 HCO 7.250 6.983 $4,229.50 360 1-Dec-29 $ 618,540.21
5145469 NAPERVILLE IL 60564 SFD 8.000 7.500 $2,411.89 360 1-Nov-29 $ 327,769.06
5145471 YORKTOWN VA 23693 SFD 7.375 7.108 $1,765.03 360 1-Dec-29 $ 254,963.02
5145476 BROOKLINE MA 02245 SFD 7.500 7.233 $5,908.37 360 1-Nov-29 $ 842,467.91
5145482 MINEOLA NY 11501 SFD 8.550 7.500 $2,105.73 360 1-Dec-29 $ 272,106.14
5145486 RIVER EDGE NJ 07661 SFD 8.125 7.500 $1,945.35 360 1-Dec-29 $ 261,482.34
5145488 NEEDHAM MA 02492 SFD 8.250 7.500 $2,441.62 360 1-Nov-29 $ 324,162.44
5145517 WASHINGTON DC 20009 LCO 8.250 7.500 $2,178.68 360 1-Dec-29 $ 289,441.39
5145528 SAN JOSE CA 95125 SFD 7.625 7.358 $2,853.83 360 1-Dec-29 $ 402,318.94
5145547 SOUTH BOSTON MA 02127 SFD 8.250 7.500 $2,760.91 360 1-Dec-29 $ 366,792.11
5145551 ATLANTA GA 30341 SFD 8.000 7.500 $2,289.35 360 1-Dec-29 $ 311,367.75
5145554 REDDING CT 06896 SFD 8.000 7.500 $2,201.30 360 1-Dec-29 $ 299,392.07
5145574 OLNEY MD 20832 SFD 8.300 7.500 $2,560.61 360 1-Dec-29 $ 338,603.16
5145582 SILVER SPRING MD 20905 SFD 7.500 7.233 $2,580.11 360 1-Dec-29 $ 368,173.28
5145588 BLUE BELL PA 19422 SFD 8.250 7.500 $2,163.65 360 1-Nov-29 $ 287,257.80
5145596 CLIFTON VA 22024 SFD 8.250 7.500 $2,193.70 360 1-Dec-29 $ 291,437.55
5145600 ATLANTA GA 30331 SFD 7.875 7.500 $2,178.84 360 1-Nov-29 $ 299,664.58
5145606 BOXBOROUGH MA 01719 SFD 7.875 7.500 $2,894.48 360 1-Nov-29 $ 398,090.22
5145609 HILLSBOROUGH NJ 08502 SFD 8.000 7.500 $2,130.49 360 1-Nov-29 $ 289,562.88
5145612 GRASONVILLE MD 21638 SFD 7.750 7.483 $3,735.38 360 1-Nov-29 $ 519,913.66
5145614 RIDGEWOOD NJ 07450 SFD 8.000 7.500 $1,995.26 360 1-Nov-29 $ 271,182.83
5145625 WASHINGTON DC 20015 SFD 7.625 7.358 $3,085.99 360 1-Dec-29 $ 435,047.25
5145630 VIENNA VA 22181 SFD 7.750 7.483 $2,321.18 360 1-Dec-29 $ 322,826.22
5145637 PULASKI VA 24301 SFD 8.125 7.500 $2,138.40 360 1-Nov-29 $ 287,238.71
5145647 HOWELL TOWNSHIP NJ 07728 SFD 8.125 7.500 $2,316.60 360 1-Nov-29 $ 310,077.89
5145655 SAN FRANCISCO CA 94080 SFD 7.750 7.483 $3,331.32 360 1-Nov-29 $ 463,674.44
5145659 SANTA ROSA CA 95409 SFD 8.250 7.500 $2,839.79 360 1-Nov-29 $ 377,025.84
5145664 N ARLINGTON VA 22201 SFD 7.250 6.983 $2,737.24 360 1-Dec-29 $ 400,305.26
5145669 PT PLEASANT BEACH NJ 08742 SFD 8.250 7.500 $3,065.17 360 1-Nov-29 $ 406,948.54
5145673 ANNANDALE VA 22003 SFD 8.125 7.500 $2,153.25 360 1-Nov-29 $ 289,233.42
5145675 WANTAGH NY 11793 SFD 7.750 7.483 $1,862.68 360 1-Dec-29 $ 259,445.90
5145682 POTOMAC MD 20854 SFD 7.875 7.500 $3,596.35 360 1-Dec-29 $ 494,969.22
5145683 COLUMBIA MD 21044 SFD 8.250 7.500 $2,095.29 360 1-Nov-29 $ 278,181.21
5145691 KINNELON NJ 07405 SFD 8.250 7.500 $2,614.41 360 1-Nov-29 $ 346,801.12
5145694 ANNANDALE VA 22003 SFD 7.500 7.233 $2,111.63 360 1-Dec-29 $ 299,793.11
5145696 QUEENSTOWN MD 21658 SFD 7.875 7.500 $3,323.72 360 1-Dec-29 $ 457,281.76
5145706 RIVER FOREST IL 60305 SFD 8.125 7.500 $4,826.24 360 1-Nov-29 $ 648,281.85
5145708 STAMFORD CT 06903 SFD 8.250 7.500 $2,253.80 360 1-Nov-29 $ 299,226.87
5145712 SEABROOK ISLAND SC 29455 SFD 7.500 7.233 $6,992.15 360 1-Nov-29 $ 997,003.45
5145943 BUFFALO GROVE IL 60089 SFD 8.125 7.500 $2,051.71 360 1-Nov-29 $ 261,905.02
5150711 SAN MARTIN CA 95046 SFD 8.125 7.500 $4,826.24 360 1-Jan-30 $ 649,146.72
5150716 NOVATO CA 94947 SFD 8.250 7.500 $2,277.85 360 1-Jan-30 $ 302,689.82
5150726 LA QUINTA CA 92553 SFD 8.000 7.500 $2,398.68 360 1-Jan-30 $ 326,459.84
5150727 SARATOGA CA 95070 LCO 8.000 7.500 $2,171.95 360 1-Jan-30 $ 295,601.44
5150728 CANYON LAKE CA 92587 SFD 7.750 7.483 $2,005.96 360 1-Jan-30 $ 279,603.47
5150733 CHULA VISTA CA 91910 SFD 9.375 7.500 $1,308.35 360 1-Jan-30 $ 157,140.50
5150735 SAN JOSE CA 95132 SFD 8.750 7.500 $2,108.36 360 1-Jan-30 $ 267,690.49
5150736 VICTORVILLE CA 92392 SFD 8.375 7.500 $167.22 360 1-Jan-30 $ 21,972.55
5150739 PLEASANTON CA 94566 SFD 7.625 7.358 $2,456.05 360 1-Jan-30 $ 346,496.10
5150742 CUPERTINO CA 95014 SFD 9.250 7.500 $3,685.59 360 1-Jan-30 $ 447,533.69
5150744 CHANDLER AZ 85225 SFD 8.250 7.500 $870.87 360 1-Jan-30 $ 115,771.65
5150746 SAN JOSE CA 95124 SFD 8.000 7.500 $2,311.36 360 1-Jan-30 $ 314,575.87
5150752 LA HABRA CA 90631 SFD 8.250 7.500 $1,544.61 360 1-Jan-30 $ 205,336.88
5150754 SAN LEANDRO CA 94579 SFD 8.500 7.500 $1,660.86 360 1-Jan-30 $ 215,486.48
5150757 GREENSBORO NC 27410 SFD 8.875 7.500 $1,700.70 360 1-Jan-30 $ 213,509.43
5150761 HOLLISTER CA 95023 SFD 7.500 7.233 $2,545.15 360 1-Jan-30 $ 363,458.01
5150762 SUNNYVALE CA 94086 SFD 8.000 7.500 $3,081.82 360 1-Jan-30 $ 419,434.48
5150765 FREMONT CA 94539 SFD 9.375 7.500 $2,908.22 360 1-Jan-30 $ 349,295.46
5150766 PEBBLE BEACH CA 93953 SFD 8.250 7.500 $3,005.07 360 1-Jan-30 $ 399,488.11
5150771 CLINTON UT 84015 SFD 8.500 7.500 $799.68 360 1-Jan-30 $ 103,873.53
5150775 OAK PARK CA 91377 LCO 8.625 7.500 $1,166.69 360 1-Jan-30 $ 149,822.24
5150778 LA CANADA FLINTRIDGE CA 91011 SFD 7.500 7.233 $2,097.65 360 1-Jan-30 $ 299,553.31
5150781 LOS ANGELES CA 90049 SFD 8.250 7.500 $2,975.02 360 1-Jan-30 $ 395,243.05
5150802 HUNTINGTON BEACH CA 92648 LCO 8.500 7.500 $1,076.48 360 1-Jan-30 $ 139,381.15
5150821 CARDIFF BY THE SEA CA 92007 SFD 7.875 7.500 $2,233.22 360 1-Jan-30 $ 306,972.70
5150841 MONROVIA CA 91016 SFD 7.500 7.233 $3,272.33 360 1-Jan-30 $ 467,303.17
5150846 RNCHO PALOS VERDES CA 90275 SFD 7.750 7.483 $3,044.76 360 1-Jan-30 $ 424,398.12
5150860 HEALDSBURG CA 95448 SFD 8.250 7.500 $1,141.93 360 1-Jan-30 $ 151,805.47
5151273 FREMONT CA 94539 SFD 9.375 7.500 $2,578.43 360 1-Jan-30 $ 309,685.67
5151279 RENTON WA 98059 SFD 8.750 7.500 $3,618.83 360 1-Jan-30 $ 459,468.75
5151282 PALO ALTO CA 94301 LCO 8.875 7.500 $2,705.20 360 1-Jan-30 $ 339,617.35
5151292 RANCHO CUCAMONGA CA 91701 SFD 7.750 7.483 $1,948.65 360 1-Jan-30 $ 271,614.80
5151294 CULVER CITY CA 90230 LCO 8.000 7.500 $585.55 360 1-Jan-30 $ 79,692.54
5151409 COTO DE CAZA CA 92679 SFD 7.375 7.108 $2,603.85 360 1-Jan-30 $ 376,424.50
5151414 TORRANCE CA 90505 SFD 8.750 7.500 $1,746.48 360 1-Jan-30 $ 221,743.61
5151418 SAN DIEGO CA 92130 LCO 8.625 7.500 $2,037.81 360 1-Jan-30 $ 261,689.52
5151423 SAN DIEGO CA 92106 SFD 7.750 7.483 $2,321.18 360 1-Jan-30 $ 323,541.16
5151426 LAKE FOREST CA 92630 SFD 8.125 7.500 $2,257.20 360 1-Jan-30 $ 302,594.15
5151429 BELL CANYON CA 91307 SFD 7.875 7.500 $3,487.95 360 1-Jan-30 $ 480,385.71
5151434 NEWPORT BEACH CA 92660 SFD 8.000 7.500 $7,337.65 360 1-Jan-30 $ 998,653.56
5151465 UNION CITY CA 94587 SFD 8.125 7.500 $2,108.70 360 1-Jan-30 $ 283,627.18
5151481 LOS ANGELES CA 90024 SFD 7.875 7.500 $2,537.75 360 1-Jan-30 $ 349,516.42
5151489 GRASS VALLEY CA 95945 SFD 8.500 7.500 $861.19 360 1-Jan-30 $ 111,863.80
5151492 BEN LOMOND CA 95005 SFD 8.000 7.500 $1,929.81 360 1-Jan-30 $ 262,595.53
5154783 CHANTILLY VA 20151 SFD 8.125 7.500 $2,627.70 360 1-Jan-30 $ 353,421.68
5155360 RAMSEY NJ 07446 LCO 8.250 7.500 $1,244.10 360 1-Jan-30 $ 165,388.07
5155382 LITTLETON CO 80123 SFD 7.875 7.500 $2,175.21 360 1-Jan-30 $ 299,585.73
5155386 LEWISILLE TX 75250 SFD 7.875 7.500 $2,321.31 360 1-Jan-30 $ 319,707.90
5155392 WINNETKA IL 60093 SFD 8.125 7.500 $4,826.24 360 1-Jan-30 $ 649,146.72
5155393 PLANO TX 75093 SFD 7.375 7.108 $3,149.48 360 1-Jan-30 $ 455,145.47
5155402 KESWICK VA 22947 SFD 7.500 7.233 $2,097.65 360 1-Jan-30 $ 299,553.31
5155405 ATLANTA GA 30342 SFD 8.000 7.500 $2,582.86 360 1-Jan-30 $ 351,526.04
5155412 LOS ALAMITOS CA 90720 SFD 7.875 7.500 $3,161.31 360 1-Dec-29 $ 435,093.90
5155417 SANTA CLARITA CA 91351 LCO 8.250 7.500 $1,690.35 360 1-Dec-29 $ 224,566.62
5155430 INDIANAPOLIS IN 46256 SFD 8.125 7.500 $4,825.87 360 1-Jan-30 $ 649,096.78
5155434 ST CHARLES IL 60174 SFD 8.250 7.500 $2,625.68 360 1-Jan-30 $ 349,052.73
5155438 WEST PALM BEACH FL 33412 SFD 8.125 7.500 $2,897.23 360 1-Dec-29 $ 389,429.05
5155549 TITUSVILLE NJ 08560 SFD 8.500 7.500 $4,075.25 360 1-Jan-30 $ 529,236.66
5155554 VESTAVIA HILLS AL 35242 SFD 7.875 7.500 $2,215.82 360 1-Jan-30 $ 305,177.98
5155555 LEANDER TX 78641 SFD 7.875 7.500 $4,118.40 360 1-Jan-30 $ 567,215.63
5155562 COLUMBUS OH 43220 SFD 8.000 7.500 $2,421.43 360 1-Jan-30 $ 329,555.66
5155563 HIGHLAND PARK IL 60035 SFD 8.125 7.500 $2,227.50 360 1-Jan-30 $ 299,505.49
5155571 OWINGS MD 20736 PUD 7.625 7.358 $2,390.93 360 1-Jan-30 $ 337,309.46
5155572 HAMILTON OH 45011 SFD 8.250 7.500 $2,638.08 360 1-Jan-30 $ 350,700.62
5155579 RIVIERA BEACH FL 33404 HCO 7.875 7.500 $2,204.21 360 1-Jan-30 $ 303,061.93
5155580 BARRINGTON HILLS IL 60010 SFD 8.375 7.500 $2,888.27 360 1-Jan-30 $ 379,525.98
5155586 TUCSON AZ 85745 SFD 8.375 7.500 $2,660.25 360 1-Jan-30 $ 349,429.46
5155587 DEXTER MI 48130 SFD 8.000 7.500 $2,357.59 360 1-Jan-30 $ 320,867.38
5155603 STONEHAM MA 02180 SFD 8.000 7.500 $1,907.79 360 1-Jan-30 $ 259,549.25
5155604 BROOMFIELD CO 80020 SFD 8.000 7.500 $1,885.77 360 1-Jan-30 $ 256,653.97
5155630 PARKER TX 75002 SFD 7.875 7.500 $2,537.75 360 1-Jan-30 $ 349,516.67
5155646 MARSHFIELD MA 02050 SFD 7.875 7.500 $2,088.20 360 1-Jan-30 $ 287,602.30
5155673 ROCKVILLE MD 20854 SFD 8.250 7.500 $1,974.33 360 1-Jan-30 $ 262,463.69
5155704 SIMPSONVILLE SC 29681 SFD 7.875 7.500 $2,088.20 360 1-Jan-30 $ 287,602.30
5155722 DES PLAINES IL 60018 SFD 7.875 7.500 $2,029.47 360 1-Jan-30 $ 279,513.48
5155735 ARLINGTON VA 22209 PUD 8.000 7.500 $2,876.36 360 1-Jan-30 $ 391,472.19
5155746 FAIRFAX STATION VA 22039 SFD 7.750 7.483 $2,062.56 360 1-Jan-30 $ 287,492.27
5155749 ARVADA CO 80007 SFD 7.750 7.483 $1,885.60 360 1-Jan-30 $ 262,827.26
5155765 SCOTTSDALE AZ 85250 SFD 8.125 7.500 $2,316.60 360 1-Jan-30 $ 311,590.42
5155779 SIVER LAKE OH 44224 SFD 8.250 7.500 $2,313.91 360 1-Jan-30 $ 307,605.83
5155808 TRUMBULL CT 06611 SFD 8.000 7.500 $1,412.50 360 1-Dec-29 $ 192,109.91
5155859 SACRAMENTO CA 95829 SFD 8.000 7.500 $1,834.41 360 1-Jan-30 $ 249,562.73
5155876 SOUTHLAKE TX 76092 SFD 7.625 7.358 $3,340.79 360 1-Jan-30 $ 471,314.59
5155889 MARIETTA GA 30068 SFD 7.875 7.500 $3,045.29 360 1-Jan-30 $ 419,416.60
5155901 EAST SANDWICH MA 02537 SFD 8.500 7.500 $2,943.41 360 1-Jan-30 $ 382,334.54
5155934 EDISON NJ 08820 SFD 8.875 7.500 $2,904.11 360 1-Dec-29 $ 364,328.51
5155948 BURLESON TX 76028 SFD 7.625 7.358 $2,831.18 360 1-Jan-30 $ 399,419.14
5155968 LA JOLLA CA 92037 SFD 7.750 7.483 $3,937.00 360 1-Dec-29 $ 546,224.91
5155976 RALEIGH NC 27614 SFD 8.000 7.500 $2,392.17 360 1-Jan-30 $ 325,573.03
5155996 WHITTIER CA 90601 SFD 7.875 7.500 $2,120.10 360 1-Jan-30 $ 291,835.91
5156011 SAN FRANCISCO CA 94134 SFD 7.875 7.500 $2,195.51 360 1-Jan-30 $ 302,381.87
5156034 ALEXANDRIA VA 22310 SFD 7.625 7.358 $1,867.87 360 1-Jan-30 $ 263,516.77
5156074 SAN FRANCISCO CA 94131 SFD 7.750 7.483 $3,374.30 360 1-Jan-30 $ 470,006.01
5156085 LAKE ALMANOR CA 96137 SFD 8.125 7.500 $2,316.59 360 1-Jan-30 $ 311,590.12
5156091 CELEBRATION FL 34747 SFD 8.000 7.500 $2,742.45 360 1-Jan-30 $ 373,246.76
5156092 GLENDALE CA 91207 SFD 8.250 7.500 $2,103.55 360 1-Jan-30 $ 279,641.67
5156099 ANTIOCH CA 94509 SFD 8.250 7.500 $2,171.91 360 1-Jan-30 $ 288,730.04
5156105 PENSACOLA FL 32507 SFD 8.250 7.500 $3,981.72 360 1-Jan-30 $ 529,321.74
5156133 ARLINGTON VA 22202 SFD 8.125 7.500 $3,470.81 360 1-Dec-29 $ 466,526.43
5156143 ENCINITAS CA 92024 SFD 8.625 7.500 $3,220.05 360 1-Jan-30 $ 413,509.40
5156147 TOMBALL TX 77375 SFD 8.250 7.500 $2,150.88 360 1-Jan-30 $ 285,933.61
5156151 PEORIA AZ 85382 SFD 8.000 7.500 $2,431.33 360 1-Jan-30 $ 330,903.86
5156157 WAYNE NJ 07470 SFD 8.125 7.500 $2,612.85 360 1-Jan-30 $ 351,438.06
5156163 RIVERSIDE CA 92508 SFD 8.000 7.500 $3,487.58 360 1-Jan-30 $ 474,660.05
5156169 SCARSDALE NY 10583 SFD 7.875 7.500 $2,175.21 360 1-Jan-30 $ 299,585.73
5156171 CENTREVILLE VA 20121 SFD 8.500 7.500 $2,090.68 360 1-Jan-30 $ 271,569.39
5156185 WARWICK RI 02818 SFD 8.000 7.500 $2,171.94 360 1-Jan-30 $ 295,531.34
5156188 RICHMOND KY 40475 SFD 8.125 7.500 $2,316.60 360 1-Jan-30 $ 311,590.42
5156192 FAIRFIELD CT 06432 SFD 8.125 7.500 $2,090.87 360 1-Jan-30 $ 281,230.35
5156195 LAS VEGAS NV 89113 SFD 8.000 7.500 $2,465.45 360 1-Jan-30 $ 335,547.60
5156198 DENHAM SPRINGS LA 70706 SFD 8.625 7.500 $816.68 360 1-Jan-30 $ 104,875.57
5156205 SAN FRANCISCO CA 94122 SFD 8.375 7.500 $2,949.08 360 1-Jan-30 $ 387,515.99
5156213 GLENVIEW IL 60025 SFD 7.875 7.500 $2,053.40 360 1-Jan-30 $ 282,808.92
5156214 MOUNT AIRY MD 21771 SFD 8.000 7.500 $2,014.55 360 1-Jan-30 $ 274,180.34
5156232 CAMPBELL CA 95008 SFD 7.875 7.500 $3,625.35 360 1-Jan-30 $ 499,309.54
5156235 BOULDER CO 80304 SFD 8.250 7.500 $3,756.34 360 1-Jan-30 $ 499,360.13
5156240 EL DORADO HILLS CA 95762 SFD 7.875 7.500 $2,304.69 360 1-Jan-30 $ 317,222.48
5156255 LONG BEACH CA 90808 SFD 8.125 7.500 $2,138.39 360 1-Dec-29 $ 287,430.99
5156259 AMHERST MA 01002 SFD 8.250 7.500 $1,915.73 360 1-Jan-30 $ 254,615.81
5156261 BIRMINGHAM AL 35242 SFD 8.750 7.500 $2,926.53 360 1-Jan-30 $ 371,570.38
5156265 ESCONDIDO CA 92029 SFD 7.875 7.500 $2,537.74 360 1-Jan-30 $ 349,516.69
5156270 AUSTIN TX 78746 SFD 8.125 7.500 $4,389.64 360 1-Jan-30 $ 590,423.94
5156276 SAINT CHARLES IL 60175 SFD 8.875 7.500 $5,171.29 360 1-Jan-30 $ 649,218.57
5156277 SAN FRANCISCO CA 94122 SFD 7.750 7.483 $2,407.15 360 1-Jan-30 $ 335,524.18
5156283 BROOKLINE MA 02445 SFD 7.500 7.233 $2,097.65 360 1-Jan-30 $ 299,447.77
5156288 CASTRO VALLEY CA 94546 SFD 8.125 7.500 $2,115.75 360 1-Jan-30 $ 284,375.26
5156295 ATLANTA GA 30319 PUD 8.000 7.500 $2,241.36 360 1-Jan-30 $ 305,048.71
5156303 SABILLASVILLE MD 21780 SFD 7.625 7.358 $1,797.80 360 1-Dec-29 $ 253,444.96
5156304 SAN DIEGO CA 92130 SFD 8.125 7.500 $4,215.16 360 1-Jan-30 $ 566,954.77
5156307 CHICAGO IL 60607 HCO 8.000 7.500 $2,201.29 360 1-Jan-30 $ 299,596.08
5156314 MECHANICSVILLE VA 23116 SFD 7.875 7.500 $2,101.61 360 1-Jan-30 $ 289,449.75
5156316 HIGLEY AZ 85236 SFD 7.875 7.500 $3,103.30 360 1-Jan-30 $ 427,408.97
5156318 SAN FRANCISCO CA 94118 MF2 8.500 7.500 $4,358.20 360 1-Jan-30 $ 566,110.83
5156328 LYNN MA 01902 SFD 8.250 7.500 $2,208.72 360 1-Jan-30 $ 293,623.77
5156330 FOUNTAIN VALLEY CA 92708 SFD 7.875 7.500 $2,192.61 360 1-Jan-30 $ 301,982.41
5156334 VISTA CA 92084 SFD 8.000 7.500 $1,944.48 360 1-Jan-30 $ 264,487.67
5156336 DOWNERS GROVE IL 60515 SFD 8.125 7.500 $2,969.99 360 1-Jan-30 $ 399,474.91
5156339 LIVERMORE CA 94550 SFD 7.375 7.108 $2,740.94 360 1-Jan-30 $ 395,983.56
5156341 TUCSON AZ 85718 SFD 7.875 7.500 $2,770.86 360 1-Jan-30 $ 381,622.27
5156345 GOLD CANYON AZ 85219 SFD 8.125 7.500 $1,992.49 360 1-Jan-30 $ 267,640.68
5156346 HILLSDALE NJ 07642 SFD 8.125 7.500 $2,450.24 360 1-Jan-30 $ 329,566.80
5156349 BERNARDS NJ 07920 SFD 8.625 7.500 $3,080.05 360 1-Jan-30 $ 395,530.72
5156350 LAKE OZARK MO 65049 SFD 8.375 7.500 $2,067.40 360 1-Jan-30 $ 271,660.68
5156352 THOUSAND OAKS CA 91360 SFD 7.875 7.500 $2,175.21 360 1-Jan-30 $ 299,585.73
5156356 WALNUT CREEK CA 94596 PUD 7.750 7.483 $2,005.95 360 1-Dec-29 $ 279,403.31
5156361 SACRAMENTO CA 95829 SFD 7.750 7.483 $1,970.13 360 1-Jan-30 $ 274,610.57
5156368 POWAY CA 92064 SFD 7.625 7.358 $2,180.00 360 1-Jan-30 $ 307,552.75
5156371 NORTH BETHESDA MD 20852 SFD 8.250 7.500 $3,542.97 360 1-Jan-30 $ 470,996.49
5156376 DRAPER UT 84020 SFD 8.250 7.500 $2,231.26 360 1-Jan-30 $ 296,619.93
5156380 SACRAMENTO CA 95829 SFD 8.000 7.500 $2,171.94 360 1-Jan-30 $ 295,601.46
5156385 ANNAPOLIS MD 21403 SFD 7.875 7.500 $1,892.43 360 1-Jan-30 $ 260,480.85
5156391 AMITY OR 97101 SFD 7.875 7.500 $2,465.24 360 1-Jan-30 $ 339,530.48
5156392 EL DORADO HILLS CA 95762 SFD 7.250 6.983 $2,493.49 360 1-Dec-29 $ 363,130.68
5156394 BERKELEY CA 94703 SFD 8.000 7.500 $2,048.67 360 1-Jan-30 $ 278,824.07
5156400 HIGHLAND VILLAGE TX 75077 SFD 7.875 7.500 $2,468.14 360 1-Jan-30 $ 339,929.94
5156406 WESTMINSTER CO 80234 SFD 8.125 7.500 $1,960.19 360 1-Jan-30 $ 263,653.45
5156409 FLAGSTAFF AZ 86001 SFD 8.250 7.500 $2,704.56 360 1-Jan-30 $ 359,539.30
5156411 BARRINGTON RI 02806 SFD 7.750 7.483 $2,819.80 360 1-Jan-30 $ 393,042.61
5156416 PALM SPRINGS CA 92264 SFD 8.250 7.500 $2,449.13 360 1-Dec-29 $ 325,372.06
5156417 SAN JOSE CA 95120 SFD 8.375 7.500 $3,792.77 360 1-Jan-30 $ 498,377.52
5156424 PASADENA MD 21122 SFD 8.625 7.500 $4,448.96 360 1-Jan-30 $ 571,322.15
5156432 SACRAMENTO CA 95829 SFD 8.000 7.500 $2,159.08 360 1-Jan-30 $ 293,850.82
5156500 DANVILLE CA 94506 PUD 8.000 7.500 $2,340.71 360 1-Jan-30 $ 318,570.49
5156792 FRANKLIN MA 02038 SFD 8.250 7.500 $1,446.19 360 1-Dec-29 $ 192,022.18
5156805 EDGEWATER MD 21037 SFD 7.750 7.483 $2,948.32 360 1-Feb-30 $ 411,249.54
5156822 SAN MARCOS CA 95069 PUD 7.750 7.483 $1,651.33 360 1-Dec-29 $ 230,008.80
5156834 SEWICKLEY PA 15143 SFD 8.000 7.500 $1,187.96 360 1-Dec-29 $ 161,571.94
5156846 SAN DIMAS CA 91773 SFD 8.000 7.500 $1,618.68 360 1-Nov-29 $ 220,002.01
5156850 EL DORADO HILLS CA 95762 SFD 8.250 7.500 $2,436.94 360 1-Feb-30 $ 324,170.15
5156858 DIAMOND BAR CA 91765 SFD 8.125 7.500 $1,595.26 360 1-Dec-29 $ 214,425.49
5156865 ALBUQUERQUE NM 87112 SFD 8.000 7.500 $666.99 360 1-Dec-29 $ 90,715.80
5156869 GLENDALE CA 91206 SFD 8.750 7.500 $1,906.18 360 1-Nov-29 $ 241,736.23
5156884 SAN DIEGO CA 92128 SFD 8.000 7.500 $2,201.29 360 1-Feb-30 $ 299,798.71
5156905 RIALTO CA 92377 SFD 8.250 7.500 $383.15 360 1-Nov-29 $ 50,868.56
5156906 LYNN MA 01902 SFD 8.250 7.500 $769.30 360 1-Nov-29 $ 102,136.09
5156945 MONTEBELLO CA 90640 SFD 8.500 7.500 $1,414.80 360 1-Dec-29 $ 183,663.22
5156957 VILLA PARK IL 60181 SFD 7.500 7.233 $840.46 360 1-Nov-29 $ 119,839.80
5156969 JACKSON NJ 08527 SFD 8.500 7.500 $1,352.52 360 1-Jan-30 $ 175,484.70
5156972 WILMINGTON MA 01887 SFD 7.750 7.483 $2,041.77 360 1-Jan-30 $ 284,596.41
5156980 LAUREL MD 20708 SFD 7.625 7.358 $1,912.95 360 1-Dec-29 $ 269,496.72
5157758 SOUTHLAKE TX 76092 SFD 8.375 7.500 $2,246.78 360 1-Jan-30 $ 295,231.24
5157761 CAVE CREEK AZ 85331 SFD 8.250 7.500 $2,569.33 360 1-Feb-30 $ 341,781.92
5157765 CHESAPEAKE VA 23321 SFD 7.500 7.233 $1,821.39 360 1-Jan-30 $ 260,100.12
5157769 OLNEY MD 20832 SFD 7.875 7.500 $2,489.89 360 1-Dec-29 $ 342,686.35
5157770 ATLANTA GA 30331 SFD 8.375 7.500 $2,128.21 360 1-Feb-30 $ 279,825.96
5157772 SCITUATE MA 02066 SFD 8.750 7.500 $2,926.53 360 1-Jan-30 $ 371,570.38
5157774 KEYSTONE CO 80435 HCO 8.625 7.500 $3,888.95 360 1-Feb-30 $ 499,704.80
5157775 CHICAGO IL 60615 SFD 8.125 7.500 $2,507.05 360 1-Jan-30 $ 337,206.75
5157776 FREDERICK MD 21702 SFD 7.500 7.233 $2,272.45 360 1-Jan-30 $ 324,516.09
5157781 SAN JOSE CA 95127 SFD 7.875 7.500 $2,719.02 360 1-Dec-29 $ 374,220.66
5157788 HUNTNGTON BEACH CA 92649 SFD 8.125 7.500 $2,658.14 360 1-Jan-30 $ 357,271.43
5157792 ROCHESTER MI 48307 SFD 8.250 7.500 $2,479.19 360 1-Jan-30 $ 329,535.91
5157859 ERIE CO 80516 SFD 8.250 7.500 $3,726.29 360 1-Jan-30 $ 495,365.25
5157874 PRINCETON JUNCTION NJ 08550 SFD 8.500 7.500 $2,614.31 360 1-Dec-29 $ 339,113.45
5157885 CLIFTON VA 20124 SFD 8.375 7.500 $3,495.58 360 1-Feb-30 $ 459,614.14
5157890 WILMINGTON NC 28409 SFD 6.875 6.608 $1,976.05 360 1-Mar-29 $ 297,458.85
5157891 GAINESVILLE GA 30506 SFD 7.750 7.483 $2,114.85 360 1-Feb-30 $ 294,991.65
5157894 PARKER CO 80134 SFD 8.250 7.500 $3,485.88 360 1-Feb-30 $ 463,704.12
5157902 PORT WASHINGTON WI 53004 SFD 8.125 7.500 $2,643.29 360 1-Jan-30 $ 355,532.68
5157906 ROSWELL GA 30076 SFD 7.750 7.483 $3,761.17 360 1-Jan-30 $ 524,016.14
5157907 ST LOUIS MO 63130 SFD 8.750 7.500 $3,610.96 360 1-Jan-30 $ 458,469.91
5157915 LAS VEGAS NV 89118 SFD 8.500 7.500 $2,152.96 360 1-Jan-30 $ 279,659.54
5157916 LOUISVILLE KY 40245 SFD 7.875 7.500 $3,552.85 360 1-Feb-30 $ 489,662.78
5157926 WESTMINSTER CO 80020 SFD 8.125 7.500 $2,435.39 360 1-Feb-30 $ 327,785.44
5157927 BALTIMORE MD 21229 SFD 8.000 7.500 $535.65 360 1-Dec-29 $ 72,852.07
5157932 JACKSONVILLE FL 32250 SFD 8.000 7.500 $2,126.82 360 1-Jan-30 $ 289,459.73
5157938 WICHITA KS 67214 SFD 8.375 7.500 $1,900.19 360 1-Nov-29 $ 249,371.88
5157941 TUCSON AZ 85748 SFD 9.000 7.500 $2,655.25 360 1-Jan-30 $ 329,638.15
5157945 LEXINGTON SC 29072 SFD 8.000 7.500 $2,736.21 360 1-Jan-30 $ 372,397.91
5157948 LODI WI 53555 SFD 8.750 7.500 $2,875.39 360 1-Jan-30 $ 364,994.47
5157962 HUNTLEY IL 60142 SFD 8.500 7.500 $4,213.65 360 1-Dec-29 $ 546,996.98
5158062 NEEDHAM MA 02492 SFD 8.375 7.500 $4,560.43 360 1-Feb-30 $ 599,627.07
5158069 WILLOWBROOK IL 60516 SFD 8.250 7.500 $4,131.97 360 1-Feb-30 $ 549,649.28
5158075 PORTLAND ME 04101 HCO 8.500 7.500 $1,411.73 360 1-Jan-30 $ 183,376.75
5158083 SUGAR LAND TX 77479 SFD 8.250 7.500 $456.77 360 1-Jan-30 $ 60,722.19
5158102 EAGLE MOUNTAIN UT 84043 SFD 8.375 7.500 $1,342.29 360 1-Dec-29 $ 176,268.38
5158106 ORANGE CA 92869 LCO 8.125 7.500 $1,039.50 360 1-Jan-30 $ 139,816.22
5158111 SCOTTSDALE AZ 85262 SFD 8.000 7.500 $2,663.57 360 1-Jan-30 $ 362,511.24
5158117 HOUSTON TX 77024 SFD 7.875 7.500 $3,806.61 360 1-Feb-30 $ 524,638.70
5158122 CHESAPEAKE VA 23320 SFD 7.875 7.500 $2,859.00 360 1-Jan-30 $ 393,762.50
5158130 OAKLAND CA 94611 SFD 8.000 7.500 $1,508.62 360 1-Jan-30 $ 205,323.18
5158137 LINDON UT 84042 SFD 8.125 7.500 $1,188.00 360 1-Dec-29 $ 159,626.23
5158140 CARLSBAD CA 92009 SFD 8.000 7.500 $1,614.28 360 1-Jan-30 $ 219,622.54
5158152 FLAGSTAFF AZ 86001 SFD 7.875 7.500 $2,972.78 360 1-Jan-30 $ 409,433.84
5158158 TEMPE AZ 85283 SFD 7.875 7.500 $2,827.77 360 1-Jan-30 $ 389,461.45
5158162 HACIENDA HEIGHTS CA 91745 SFD 8.250 7.500 $1,356.79 360 1-Dec-29 $ 180,252.13
5158166 CHINO CA 91710 SFD 8.125 7.500 $2,053.00 360 1-Jan-30 $ 276,137.05
5158170 TARZANA CA 91356 LCO 8.375 7.500 $1,178.11 360 1-Jan-30 $ 154,806.65
5158173 ROCKVILLE MD 20851 SFD 8.500 7.500 $1,229.49 360 1-Dec-29 $ 159,607.34
5158182 SMITHFIELD UT 84335 SFD 8.250 7.500 $1,314.72 360 1-Jan-30 $ 174,709.86
5158187 DIAMOND BAR CA 91789 SFD 7.875 7.500 $1,718.41 360 1-Dec-29 $ 236,104.20
5158190 BLUE BELL PA 19422 SFD 8.500 7.500 $2,496.66 360 1-Feb-30 $ 324,503.30
5158192 WESTBOROUGH MA 01581 SFD 8.750 7.500 $393.35 360 1-Dec-29 $ 49,575.21
5158206 SCOTTSDALE AZ 85260 SFD 8.125 7.500 $1,321.64 360 1-Dec-29 $ 177,648.32
5158211 EL DORADO HILLS CA 95762 SFD 8.000 7.500 $2,388.55 360 1-Jan-30 $ 325,081.71
5158212 VICTORVILLE CA 92392 PUD 7.875 7.500 $1,141.98 360 1-Dec-29 $ 157,172.70
5158213 CHESAPEAKE VA 23325 SFD 7.875 7.500 $591.66 360 1-Dec-29 $ 81,414.28
5158215 OVILLA TX 75154 SFD 7.750 7.483 $1,432.82 360 1-Dec-29 $ 199,573.81
5158219 ESCONDIDO CA 92025 SFD 8.250 7.500 $1,622.74 360 1-Dec-29 $ 215,583.93
5158222 STOCKTON CA 95204 SFD 8.625 7.500 $560.01 360 1-Dec-29 $ 71,871.55
5158225 TRACY CA 95376 SFD 7.750 7.483 $1,282.38 360 1-Jan-30 $ 178,746.51
5158227 MURRIETA CA 92562 SFD 8.500 7.500 $968.83 360 1-Dec-29 $ 125,767.02
5158230 BALTIMORE MD 21228 SFD 8.125 7.500 $629.64 360 1-Feb-30 $ 84,744.53
5158231 NEWPORT RI 02840 LCO 7.625 7.358 $1,058.86 360 1-Dec-29 $ 149,176.59
5158232 SANTA CRUZ CA 95062 SFD 8.000 7.500 $4,769.47 360 1-Jan-30 $ 649,124.82
5158233 RICHMOND VA 23221 SFD 7.625 7.358 $707.79 360 1-Jan-30 $ 99,854.80
5158239 MURRIETA CA 92563 SFD 7.625 7.358 $875.89 360 1-Dec-29 $ 123,479.61
5158243 MENIFEE CA 92584 SFD 7.375 7.108 $856.44 360 1-Jan-30 $ 123,810.70
5158249 SOUTH HADLEY MA 01075 SFD 8.500 7.500 $789.67 360 1-Jan-30 $ 102,575.14
5158252 SAN DIEGO CA 92104 SFD 8.250 7.500 $1,555.12 360 1-Dec-29 $ 206,601.29
5158256 MC KINNEY TX 75070 SFD 8.250 7.500 $1,129.30 360 1-Dec-29 $ 150,030.47
5158259 KING CITY OR 97224 SFD 7.875 7.500 $326.28 360 1-Jan-30 $ 44,937.86
5158265 CHINO CA 91710 SFD 8.250 7.500 $2,078.38 360 1-Jan-30 $ 276,295.97
5158267 MARYDEL MD 21649 SFD 8.375 7.500 $1,276.92 360 1-Dec-29 $ 167,684.55
5158268 ELYSBURG PA 17824 SFD 7.875 7.500 $1,508.14 360 1-Jan-30 $ 207,662.45
5158270 BELLINGHAM MA 02019 SFD 8.625 7.500 $1,265.85 360 1-Jan-30 $ 162,557.15
5158275 CLACKAMAS OR 97015 SFD 8.000 7.500 $1,650.97 360 1-Dec-29 $ 223,938.05
5158280 CHICAGO IL 60605 LCO 8.500 7.500 $1,076.48 360 1-Dec-29 $ 139,743.76
5158282 CROWN POINT IN 46307 SFD 7.875 7.500 $725.07 360 1-Feb-30 $ 99,931.18
5158283 HAVERHILL MA 01830 SFD 8.250 7.500 $1,014.21 360 1-Jan-30 $ 134,827.24
5158284 ARLINGTON TX 76001 SFD 8.125 7.500 $799.71 360 1-Dec-29 $ 107,290.16
5158291 DES PLAINES IL 60016 SFD 8.250 7.500 $1,126.90 360 1-Jan-30 $ 149,707.35
5158296 MIAMI FL 33141 HCO 8.250 7.500 $450.76 360 1-Feb-30 $ 59,961.74
5158308 HUGHESVILLE MD 20637 SFD 8.375 7.500 $1,319.49 360 1-Nov-29 $ 173,163.83
5158315 WRENTHAM MA 02093 SFD 7.500 7.233 $2,282.24 360 1-Jan-30 $ 325,914.01
5158680 LEAGUE CITY TX 77573 SFD 8.000 7.500 $763.12 360 1-Dec-29 $ 103,789.24
5159483 FLOWER MOUND TX 75028 SFD 7.875 7.500 $2,250.62 360 1-Jan-30 $ 309,971.36
5159490 DUBLIN OH 43017 SFD 8.125 7.500 $4,009.49 360 1-Feb-30 $ 539,646.76
5159499 MONROVIA CA 91016 SFD 7.875 7.500 $1,812.68 360 1-Feb-30 $ 249,827.95
5159530 AUSTIN TX 78737 SFD 7.750 7.483 $2,358.43 360 1-Nov-29 $ 328,261.56
5159536 ARLINGTON VA 22201 SFD 7.625 7.358 $2,117.72 360 1-Oct-29 $ 298,103.39
5159550 POMPTON LAKES NJ 07442 SFD 8.875 7.500 $2,219.85 360 1-Jan-30 $ 278,631.44
5159560 CHEBANSE IL 60922 SFD 8.125 7.500 $2,435.40 360 1-Feb-30 $ 327,785.43
5159580 MARIETTA GA 30064 SFD 8.500 7.500 $2,368.26 360 1-Feb-30 $ 307,813.41
5159591 SAN JOSE CA 95120 SFD 8.500 7.500 $4,810.33 360 1-Jan-30 $ 624,839.32
5159597 LITHONIA GA 30038 SFD 7.750 7.483 $3,316.28 360 1-Nov-29 $ 461,580.41
5159598 HOUSTON TX 77056 SFD 7.875 7.500 $2,900.28 360 1-Jan-30 $ 399,347.26
5159606 UNIVERSITY MO 63130 SFD 8.375 7.500 $2,736.27 360 1-Dec-29 $ 359,324.00
5159617 LITTLE NECK NY 11362 SFD 8.250 7.500 $4,117.19 240 1-Feb-20 $ 482,404.81
5159622 MORRISON CO 80465 SFD 8.625 7.500 $2,208.64 360 1-Jan-30 $ 283,515.26
5159658 EL CAJON CA 92019 SFD 8.250 7.500 $2,088.52 360 1-Feb-30 $ 277,822.73
5159662 LEVITTOWN PA 19056 SFD 8.875 7.500 $739.95 360 1-Jan-30 $ 92,895.34
5159674 HOUSTON TX 77008 SFD 8.125 7.500 $905.85 360 1-Jan-30 $ 121,839.84
5159686 RICHARDSON TX 75081 PUD 8.000 7.500 $322.86 360 1-Jan-30 $ 43,940.75
5159688 WESTFORD MA 01886 SFD 8.375 7.500 $1,124.91 360 1-Feb-30 $ 147,808.01
5159694 HAMILTON MA 01936 SFD 8.125 7.500 $2,569.04 360 1-Jan-30 $ 345,545.81
5159719 OCEANSIDE CA 92054 SFD 8.250 7.500 $762.16 360 1-Jan-30 $ 101,219.48
5159722 MAGNOLIA TX 77355 SFD 7.875 7.500 $1,713.60 360 1-Jan-30 $ 236,009.65
5159723 SAN MATEO CA 94401 SFD 8.375 7.500 $1,527.75 360 1-Jan-30 $ 200,749.25
5159732 WESTMONT IL 60559 SFD 8.250 7.500 $841.42 360 1-Jan-30 $ 110,766.87
5159750 NEWTON MA 02465 SFD 8.250 7.500 $2,208.72 360 1-Jan-30 $ 293,623.77
5159755 ENCINITAS CA 92024 SFD 8.625 7.500 $3,596.50 360 1-Feb-30 $ 462,127.00
5159757 OAKDALE CA 95361 SFD 8.250 7.500 $1,803.04 360 1-Jan-30 $ 239,692.87
5159771 CLAREMONT CA 91711 SFD 8.000 7.500 $2,370.06 360 1-Jan-30 $ 322,565.10
5159777 BURKE VA 22015 PUD 8.500 7.500 $ 557.46 360 1-Feb-30 $ 72,456.08
5159788 SAN LEANDRO CA 94579 SFD 8.125 7.500 $2,717.54 360 1-Jan-30 $ 365,519.54
5159797 BRIGHAM CITY UT 84302 SFD 8.375 7.500 $1,102.10 360 1-Jan-30 $ 144,819.13
5159805 CORNADO CA 92118 LCO 8.500 7.500 $2,691.20 360 1-Jan-30 $ 349,574.43
5159808 CLEARWATER FL 33761 LCO 8.625 7.500 $388.89 360 1-Jan-30 $ 49,940.76
5159810 HELENA MT 59602 SFD 8.250 7.500 $661.11 360 1-Jan-30 $ 87,779.75
5159817 HOPKINTON RI 02833 SFD 8.500 7.500 $676.64 360 1-Jan-30 $ 87,893.01
5159828 REVERE MA 02151 LCO 8.375 7.500 $843.68 360 1-Jan-30 $ 110,861.54
5159834 CORPUS CHRISTI TX 78418 PUD 8.625 7.500 $808.90 360 1-Jan-30 $ 103,876.76
5159839 WEYMOUTH MA 02189 SFD 8.750 7.500 $460.22 360 1-Jan-30 $ 58,432.44
5159841 LONGMEADOW MA 01106 SFD 8.375 7.500 $3,511.53 360 1-Jan-30 $ 461,423.69
5159847 VIRGINIA BEACH VA 23456 SFD 7.625 7.358 $541.82 360 1-Jan-30 $ 76,438.16
5159850 MERION PA 19066 SFD 8.875 7.500 $3,634.51 360 1-Jan-30 $ 456,285.92
5159860 WEST COVINA CA 91792 SFD 8.250 7.500 $1,075.81 360 1-Jan-30 $ 143,016.75
5159869 LAKEWOOD WA 98499 SFD 8.875 7.500 $4,280.57 360 1-Jan-30 $ 537,360.54
5159870 HOLLIS NH 03049 SFD 8.875 7.500 $1,018.43 360 1-Jan-30 $ 127,854.37
5159881 ENCINO CA 91316 LCO 8.125 7.500 $1,098.90 360 1-Jan-30 $ 147,805.71
5159882 WOODSIDE CA 94062 SFD 8.250 7.500 $2,396.54 360 1-Jan-30 $ 318,591.78
5159886 KATY TX 77450 SFD 8.375 7.500 $775.43 360 1-Jan-30 $ 101,441.68
5159890 HOUSTON TX 77083 SFD 8.125 7.500 $620.73 360 1-Jan-30 $ 83,458.96
5159898 CHINO HILLS CA 91709 SFD 8.250 7.500 $1,502.53 360 1-Jan-30 $ 199,668.93
5159899 TRUMBULL CT 06611 SFD 7.875 7.500 $1,776.42 360 1-Jan-30 $ 244,580.99
5160010 GLOUCESTER MA 01930 SFD 8.250 7.500 $4,381.76 360 1-Jan-30 $ 582,503.61
5160013 NAMPA ID 83686 SFD 8.500 7.500 $423.67 360 1-Jan-30 $ 55,033.01
5160017 SUGAR LAND TX 77479 PUD 7.875 7.500 $1,624.16 360 1-Jan-30 $ 223,690.67
5160028 KALAMA WA 98625 SFD 8.875 7.500 $954.77 360 1-Feb-30 $ 119,932.73
5160037 MALIBU CA 90265 SFD 8.000 7.500 $2,641.55 360 1-Jan-30 $ 359,515.29
5160105 LOS ANGELES CA 90035 SFD 8.250 7.500 $2,253.80 360 1-Jan-30 $ 299,616.08
5160128 NEWTON MA 02468 SFD 8.500 7.500 $1,345.60 360 1-Jan-30 $ 174,787.21
5160135 LYNNFIELD MA 01940 SFD 8.125 7.500 $2,227.49 360 1-Jan-30 $ 299,606.19
5160150 EL CAJON CA 92021 SFD 8.500 7.500 $1,960.73 360 1-Jan-30 $ 254,689.95
5160156 BALTIMORE MD 21218 HCO 7.875 7.500 $2,001.20 360 1-Dec-29 $ 275,426.40
5160160 FALLS CHUCH VA 22046 SFD 7.750 7.483 $1,942.92 360 1-Feb-30 $ 271,008.58
5160165 NAPERVILLE IL 60564 SFD 8.000 7.500 $2,359.79 360 1-Feb-30 $ 321,384.21
5160174 CHICAGO IL 60611 HCO 8.000 7.500 $2,201.30 360 1-Dec-29 $ 299,388.48
5160179 SOUTHLAKE TX 76092 SFD 7.875 7.500 $2,551.52 360 1-Jan-30 $ 351,414.05
5160696 BOULDER CO 80302 SFD 8.250 7.500 $3,380.70 360 1-Feb-30 $ 449,713.05
5160708 BARRINGTON IL 60010 SFD 7.875 7.500 $1,963.29 360 1-Dec-29 $ 270,210.33
5160716 TRACY CA 95376 SFD 8.000 7.500 $1,504.95 360 1-Jan-30 $ 204,823.85
5160733 DUBLIN CA 94568 SFD 8.625 7.500 $1,808.36 360 1-Nov-29 $ 231,942.86
5160741 REDLANDS CA 92374 SFD 8.125 7.500 $1,767.14 360 1-Dec-29 $ 237,529.78
5161194 ENGLEWOOD CO 80110 SFD 8.500 7.500 $961.15 360 1-Feb-30 $ 124,924.27
5161201 HUNTINGTON BEACH CA 92646 SFD 7.875 7.500 $2,146.21 360 1-Feb-30 $ 295,796.29
5161207 CHICAGO IL 60614 LCO 8.625 7.500 $3,450.28 360 1-Feb-30 $ 443,338.10
5161214 LUMBERVILLE PA 18933 SFD 8.375 7.500 $2,698.26 360 1-Feb-30 $ 353,482.87
5161218 ANDERSON IN 46011 SFD 8.125 7.500 $2,494.80 360 1-Feb-30 $ 335,780.20
5161307 WELDON SPRINGS MO 63304 SFD 8.375 7.500 $2,090.20 360 1-Feb-30 $ 274,829.07
5161313 NEW MELLE MO 63385 SFD 8.125 7.500 $1,596.37 360 1-Jan-30 $ 214,717.77
5161316 MILWAUKEE WI 53203 HCO 8.750 7.500 $1,416.06 360 1-Jan-30 $ 179,764.14
5161325 TUCSON AZ 85710 SFD 8.375 7.500 $760.07 360 1-Feb-30 $ 99,937.85
5161328 DENVER CO 80206 SFD 7.875 7.500 $4,466.43 360 1-Feb-30 $ 615,576.07
5161332 CHARLOTTESVILLE VA 22901 SFD 8.000 7.500 $2,529.29 360 1-Jan-30 $ 344,235.46
5161334 DALLAS TX 75230 SFD 7.750 7.483 $2,051.45 360 1-Jan-30 $ 285,944.48
5161347 KISSIMMEE FL 34741 SFD 8.500 7.500 $1,080.17 360 1-Jan-30 $ 140,309.19
5161351 POMPANO BEACH FL 33062 HCO 8.750 7.500 $786.71 360 1-Jan-30 $ 99,884.50
5161359 COLLEYVILLE TX 76034 PUD 7.750 7.483 $2,865.65 360 1-Jan-30 $ 399,433.54
5161363 ZIONSVILLE IN 46077 SFD 8.000 7.500 $3,169.87 360 1-Feb-30 $ 431,710.13
5161372 WANTAGE NJ 07461 SFD 8.875 7.500 $2,991.63 360 1-Jan-30 $ 375,576.84
5161380 FRANKFORD NJ 07826 SFD 8.750 7.500 $338.29 360 1-Jan-30 $ 42,933.28
5161389 VERNON NJ 07462 SFD 8.875 7.500 $579.23 360 1-Jan-30 $ 72,533.69
5161402 BOULDER CO 80303 SFD 8.500 7.500 $2,118.36 360 1-Feb-30 $ 275,333.10
5161446 NORWALK CT 06850 SFD 8.000 7.500 $2,047.21 360 1-Feb-30 $ 278,812.79
5161489 CAVE CREEK AZ 85331 SFD 7.875 7.500 $2,980.04 360 1-Feb-30 $ 410,717.15
5161516 SIMPSONVILLE KY 40067 SFD 7.875 7.500 $3,364.32 360 1-Jan-30 $ 463,338.90
5161533 HINCKLEY OH 44233 SFD 7.750 7.483 $3,014.67 360 1-Jan-30 $ 419,891.98
5161537 NEW BUFFALO MI 49117 SFD 8.625 7.500 $845.46 360 1-Feb-30 $ 108,635.82
5161558 DENVER CO 80203 SFD 8.125 7.500 $1,098.90 360 1-Jan-30 $ 147,805.71
5161564 WOODCLIFF LAKE NJ 07675 SFD 8.625 7.500 $1,991.15 360 1-Feb-30 $ 255,848.85
5161571 JESSUP MD 20794 SFD 8.250 7.500 $2,133.60 360 1-Feb-30 $ 283,818.90
5161575 SOUTHLAKE TX 76092 SFD 7.875 7.500 $2,493.52 360 1-Jan-30 $ 343,299.60
5161576 PHOENIX AZ 85044 SFD 8.500 7.500 $861.19 360 1-Feb-30 $ 111,932.14
5161660 COVINGTON GA 30014 SFD 8.125 7.500 $1,429.31 360 1-Jan-30 $ 192,247.30
5161673 CAMPBELL OH 44405 SFD 8.250 7.500 $540.92 360 1-Feb-30 $ 71,904.08
5161682 BOSTON MA 02108 LCO 9.000 7.500 $2,092.02 360 1-Feb-30 $ 259,857.98
5161693 SCOTTSDALE AZ 85255 SFD 8.375 7.500 $1,793.02 360 1-Jan-30 $ 235,605.71
5161698 ATLANTA GA 30342 LCO 8.250 7.500 $1,391.91 360 1-Jan-30 $ 185,037.90
5161701 BRECKSVILLE OH 44141 SFD 7.125 6.858 $1,744.94 360 1-Feb-30 $ 258,792.87
5161706 PRAIRIE GROVE IL 60014 SFD 7.625 7.358 $2,301.00 360 1-Feb-30 $ 324,858.67
5162816 NEW YORK NY 10017 MF2 8.625 7.500 $7,105.11 360 1-Feb-30 $ 912,960.67
$ 167,581,139.58
</TABLE>
TABLE (CONTINUED)
<TABLE>
<CAPTION>
(i) (x) (xi) (xii) (xiii) (xv) (xvi) (xvii) (xviii)
- -------- ------ ------- --------- -------- ------- -------- -------------------------- --------------------------
MORTGAGE MORTGAGE MASTER FIXED NMI
LOAN INSURANCE SERVICE SERVICE RETAINED LOAN
NUMBER LTV SUBSIDY CODE FEE FEE YIELD SERVICER SELLER
- -------- ------ ------- --------- -------- ------- -------- -------------------------- --------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
4963164 100.00 0.250 0.017 0.000 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
4992977 79.33 0.250 0.017 0.233 FARMERS STATE BANK & TRUST FARMERS STATE BANK & TRUST
5062196 62.50 0.250 0.017 0.108 BANK OF OKLAHOMA, N.A. BANK OF OKLAHOMA, N.A.
5109447 74.84 0.250 0.017 0.608 HUNTINGTON MORTGAGE COMPAN HUNTINGTON MORTGAGE COMPAN
5110366 76.79 0.250 0.017 0.358 HIBERNIA NATIONAL BANK HIBERNIA NATIONAL BANK
5119675 80.00 0.250 0.017 0.108 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5119682 95.00 12 0.250 0.017 0.108 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5119691 94.98 01 0.250 0.017 0.733 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5119698 89.96 0.250 0.017 0.358 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5121856 72.22 0.250 0.017 0.233 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5121867 83.71 0.250 0.017 0.000 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5123742 80.00 0.250 0.017 0.233 HUNTINGTON MORTGAGE COMPAN HUNTINGTON MORTGAGE COMPAN
5124143 80.00 0.250 0.017 0.233 HIBERNIA NATIONAL BANK HIBERNIA NATIONAL BANK
5125742 80.00 0.250 0.017 0.483 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5125840 100.00 0.250 0.017 1.108 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5125857 56.90 0.250 0.017 0.983 MERRILL LYNCH CREDIT CORP. MERRILL LYNCH CREDIT CORP.
5133570 75.19 0.250 0.017 0.733 HUNTINGTON MORTGAGE COMPAN HUNTINGTON MORTGAGE COMPAN
5134432 95.00 13 0.250 0.017 0.233 HIBERNIA NATIONAL BANK HIBERNIA NATIONAL BANK
5136373 90.00 11 0.250 0.017 0.358 HIBERNIA NATIONAL BANK HIBERNIA NATIONAL BANK
5139218 80.60 0.250 0.017 0.608 AMERICA FIRST CREDIT UNION AMERICA FIRST CREDIT UNION
5142276 88.57 06 0.250 0.017 1.108 HOMESIDE LENDING HOMESIDE LENDING
5142288 41.11 0.250 0.017 0.000 HOMESIDE LENDING HOMESIDE LENDING
5142297 80.00 0.250 0.017 0.483 HOMESIDE LENDING HOMESIDE LENDING
5142303 80.00 0.250 0.017 0.233 HOMESIDE LENDING HOMESIDE LENDING
5142348 74.33 0.250 0.017 0.000 HOMESIDE LENDING HOMESIDE LENDING
5142355 66.43 0.250 0.017 0.858 HOMESIDE LENDING HOMESIDE LENDING
5142372 76.41 0.250 0.017 0.108 HOMESIDE LENDING HOMESIDE LENDING
5142436 80.00 0.250 0.017 0.358 HOMESIDE LENDING HOMESIDE LENDING
5142485 75.00 0.250 0.017 0.483 HOMESIDE LENDING HOMESIDE LENDING
5142499 75.00 0.250 0.017 0.483 HOMESIDE LENDING HOMESIDE LENDING
5142505 90.00 13 0.250 0.017 0.108 HOMESIDE LENDING HOMESIDE LENDING
5142514 80.00 0.250 0.017 0.000 HOMESIDE LENDING HOMESIDE LENDING
5142517 84.33 13 0.250 0.017 0.608 HOMESIDE LENDING HOMESIDE LENDING
5144302 85.00 11 0.250 0.017 0.000 KEYSTONE FINANCIAL BANK FK KEYSTONE FINANCIAL BANK FK
5145221 70.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145223 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145232 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145234 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145240 46.31 0.250 0.017 0.608 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145241 77.38 0.250 0.017 0.608 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145253 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145257 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145259 71.09 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145268 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145273 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145274 78.81 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145275 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145281 90.00 11 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145283 79.94 0.250 0.017 0.733 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145284 75.10 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145285 90.00 17 0.550 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145292 69.41 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145294 53.30 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145300 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145301 94.86 11 0.800 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145307 44.76 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145308 65.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145309 61.73 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145314 65.31 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145315 55.56 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145322 70.59 0.250 0.017 0.608 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145324 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145329 79.99 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145330 75.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145334 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145335 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145341 67.19 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145342 64.42 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145345 76.81 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145348 73.53 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145349 90.00 06 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145351 89.98 06 0.250 0.017 0.408 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145352 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145353 95.00 06 0.800 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145357 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145364 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145369 72.97 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145375 68.38 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145376 79.99 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145380 95.00 06 0.800 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145382 79.13 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145383 76.47 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145384 79.99 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145385 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145387 66.24 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145391 80.00 0.250 0.017 0.608 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145393 77.97 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145395 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145397 68.80 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145401 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145402 57.23 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145406 94.99 11 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145411 61.77 0.250 0.017 0.608 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145412 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145414 79.99 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145418 94.99 11 0.900 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145419 79.84 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145422 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145424 79.99 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145426 57.74 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145428 79.52 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145429 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145430 90.00 06 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145433 63.80 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145436 61.54 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145437 77.35 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145440 75.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145446 79.99 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145451 74.03 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145453 59.04 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145455 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145458 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145459 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145462 44.59 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145463 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145468 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145469 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145471 95.00 11 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145476 65.25 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145482 94.00 06 0.800 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145486 77.06 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145488 32.99 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145517 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145528 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145547 75.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145551 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145554 71.43 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145574 85.89 17 0.550 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145582 90.00 11 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145588 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145596 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145600 90.00 06 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145606 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145609 79.99 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145612 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145614 80.00 0.250 0.017 0.233 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145625 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145630 64.16 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145637 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145647 75.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145655 79.56 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145659 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145664 75.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145669 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145673 80.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145675 80.00 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145682 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145683 79.98 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145691 80.00 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145694 78.10 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145696 80.00 0.250 0.017 0.108 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145706 65.00 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145708 66.37 0.250 0.017 0.483 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145712 61.16 0.250 0.017 0.000 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5145943 58.44 0.250 0.017 0.358 CHEVY CHASE SAVINGS BANK CHEVY CHASE SAVINGS BANK
5150711 54.17 0.250 0.017 0.358 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150716 80.00 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150726 69.93 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150727 80.00 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150728 80.00 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150733 65.00 0.250 0.017 1.608 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150735 80.00 0.250 0.017 0.983 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150736 34.92 0.250 0.017 0.608 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150739 79.41 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150742 70.00 0.250 0.017 1.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150744 80.00 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150746 69.84 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150752 80.00 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150754 80.00 0.250 0.017 0.733 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150757 74.48 0.250 0.017 1.108 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150761 80.00 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150762 71.79 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150765 90.00 33 0.250 0.017 1.608 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150766 55.17 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150771 80.00 0.250 0.017 0.733 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150775 80.00 0.250 0.017 0.858 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150778 80.00 0.250 0.017 0 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150781 73.33 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150802 80.00 0.250 0.017 0.733 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150821 80.00 0.250 0.017 0.108 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150841 80.00 0.250 0.017 0 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150846 49.42 0.250 0.017 0 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5150860 80.00 0.250 0.017 0.483 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151273 50.00 0.250 0.017 1.608 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151279 80.00 0.250 0.017 0.983 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151282 80.00 0.250 0.017 1.108 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151292 80.00 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151294 70.00 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151409 71.81 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151414 62.54 0.250 0.017 0.983 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151418 80.00 0.250 0.017 0.858 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151423 60.00 0.250 0.017 0.000 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151426 80.00 0.250 0.017 0.358 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151429 62.07 0.250 0.017 0.108 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151434 67.57 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151465 80.00 0.250 0.017 0.358 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151481 59.93 0.250 0.017 0.108 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151489 80.00 0.250 0.017 0.733 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5151492 73.88 0.250 0.017 0.233 DOWNEY SAVINGS & LOAN ASSO DOWNEY SAVINGS & LOAN ASSO
5154783 69.99 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155360 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155382 46.48 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155386 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155392 72.22 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155393 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155402 50.59 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155405 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155412 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155417 79.99 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155430 75.10 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155434 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155438 79.99 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155549 75.71 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155554 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155555 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155562 76.74 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155563 76.34 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155571 84.66 11 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155572 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155579 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155580 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155586 78.65 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155587 90.00 13 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155603 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155604 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155630 69.44 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155646 76.19 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155673 77.98 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155704 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155722 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155735 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155746 79.99 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155749 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155765 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155779 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155808 72.92 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155859 61.14 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155876 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155889 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155901 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155934 79.18 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155948 76.92 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155968 48.42 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155976 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5155996 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156011 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156034 79.99 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156074 79.99 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156085 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156091 79.94 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156092 79.77 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156099 79.99 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156105 64.24 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156133 79.23 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156143 70.17 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156147 79.99 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156151 79.99 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156157 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156163 79.99 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156169 22.81 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156171 79.99 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156185 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156188 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156192 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156195 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156198 74.20 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156205 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156213 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156214 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156232 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156235 76.92 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156240 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156255 75.79 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156259 71.03 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156261 80.00 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156265 59.42 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156270 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156276 46.43 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156277 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156283 34.88 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156288 95.00 06 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156295 90.00 13 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156303 79.13 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156304 73.95 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156307 79.37 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156314 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156316 76.43 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156318 65.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156328 77.37 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156330 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156334 61.63 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156336 65.57 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156339 59.68 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156341 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156345 94.99 06 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156346 86.84 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156349 90.00 01 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156350 66.34 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156352 66.67 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156356 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156361 65.30 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156368 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156371 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156376 74.25 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156380 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156385 47.45 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156391 75.56 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156392 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156394 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156400 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156406 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156409 66.67 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156411 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156416 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156417 77.48 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156424 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156432 59.53 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156500 79.98 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156792 76.53 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156805 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156822 79.84 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156834 76.40 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156846 79.98 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156850 89.90 06 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156858 74.99 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156865 90.00 06 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156869 79.99 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156884 70.60 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156905 28.33 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156906 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156945 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156957 79.60 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156969 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156972 74.03 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5156980 89.20 12 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157758 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157761 69.80 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157765 95.00 11 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157769 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157770 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157772 80.00 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157774 76.92 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157775 79.99 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157776 77.38 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157781 70.69 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157788 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157792 79.04 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157859 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157874 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157885 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157890 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157891 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157894 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157902 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157906 75.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157907 79.97 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157915 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157916 78.03 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157926 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157927 87.95 06 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157932 79.99 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157938 72.46 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157941 77.17 0.250 0.017 1.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157945 79.34 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157948 89.99 12 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5157962 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158062 66.67 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158069 68.54 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158075 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158083 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158102 74.83 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158106 63.64 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158111 59.02 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158117 75.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158122 81.30 11 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158130 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158137 66.67 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158140 79.71 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158152 79.61 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158158 67.83 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158162 70.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158166 79.76 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158170 63.27 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158173 79.99 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158182 74.47 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158187 73.60 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158190 89.21 01 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158192 22.99 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158206 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158211 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158212 66.18 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158213 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158215 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158219 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158222 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158225 78.17 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158227 67.74 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158230 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158231 76.72 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158232 77.43 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158233 68.97 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158239 75.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158243 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158249 61.50 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158252 79.92 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158256 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158259 32.61 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158265 79.82 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158267 70.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158268 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158270 75.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158275 75.95 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158280 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158282 36.36 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158283 73.77 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158284 70.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158291 79.79 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158296 63.16 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158308 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158315 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5158680 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159483 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159490 75.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159499 76.92 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159530 78.94 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159536 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159550 88.94 11 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159560 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159580 72.47 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159591 62.52 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159597 89.88 33 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159598 74.77 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159606 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159617 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159622 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159658 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159662 65.03 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159674 76.13 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159686 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159688 80.00 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159694 72.08 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159719 49.98 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159722 72.05 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159723 55.83 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159732 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159750 75.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159755 78.57 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159757 67.61 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159771 71.78 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159777 79.93 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159788 75.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159797 70.73 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159805 70.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159808 77.04 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159810 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159817 78.57 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159828 63.43 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159834 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159839 35.24 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159841 64.17 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159847 79.99 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159850 80.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159860 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159869 74.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159870 80.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159881 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159882 51.53 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159886 79.97 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159890 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159898 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5159899 75.38 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160010 77.77 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160013 79.97 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160017 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160028 80.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160037 64.29 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160105 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160128 26.12 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160135 75.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160150 40.48 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160156 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160160 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160165 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160174 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160179 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160696 56.96 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160708 88.78 01 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160716 69.99 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160733 75.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5160741 69.59 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161194 40.98 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161201 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161207 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161214 78.02 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161218 80.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161307 61.11 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161313 76.79 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161316 80.00 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161325 68.97 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161328 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161332 79.30 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161334 74.11 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161347 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161351 80.00 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161359 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161363 80.00 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161372 80.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161380 21.75 0.250 0.017 0.983 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161389 80.00 0.250 0.017 1.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161402 95.00 06 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161446 90.00 13 0.250 0.017 0.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161489 74.73 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161516 80.00 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161533 80.00 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161537 79.99 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161558 77.89 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161564 80.00 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161571 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161575 79.99 0.250 0.017 0.108 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161576 80.00 0.250 0.017 0.733 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161660 70.00 0.250 0.017 0.358 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161673 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161682 77.61 0.250 0.017 1.233 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161693 79.99 0.250 0.017 0.608 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161698 80.00 0.250 0.017 0.483 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161701 83.76 11 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5161706 62.70 0.250 0.017 0.000 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
5162816 64.11 0.250 0.017 0.858 NATIONAL CITY MORTGAGE C NATIONAL CITY MORTGAGE C
</TABLE>
COUNT: 528
WAC: 8.080260057
WAM: 355.9488974
WALTV: 75.45065816
<PAGE>
EXHIBIT G
REQUEST FOR RELEASE
(for Trustee/Custodian)
Loan Information
- ----------------
Name of Mortgagor: _____________________________________
Servicer
Loan No.: _____________________________________
Custodian/Trustee
- -----------------
Name: _____________________________________
_____________________________________
Address: _____________________________________
Custodian/Trustee
Mortgage File No.: _____________________________________
Seller
- ------
Name: _____________________________________
_____________________________________
Address: _____________________________________
Certificates: Mortgage Pass-Through Certificates,
Series 2000-2
The undersigned Master Servicer hereby acknowledges that it has
received from First Union National Bank, as Trustee for the Holders of Mortgage
Pass-Through Certificates, Series 2000-2, the documents referred to below (the
"Documents"). All capitalized terms not otherwise defined in this Request for
Release shall have the meanings given them in the Pooling and Servicing
Agreement dated as of March 30, 2000 (the "Pooling and Servicing Agreement")
among the Trustee, the Seller and the Master Servicer.
( ) Promissory Note dated ______________, 199__, in the original
principal sum of $___________, made by ____________________, payable
to, or endorsed to the order of, the Trustee.
( ) Mortgage recorded on _____________________ as instrument no.
______________ in the County Recorder's Office of the County of
____________________, State of _______________________ in
book/reel/docket ____________________ of official records at
page/image ____________.
( ) Deed of Trust recorded on ____________________ as instrument no.
_________________ in the County Recorder's Office of the County of
___________________, State of _________________ in book/reel/docket
____________________ of official records at page/image ____________.
( ) Assignment of Mortgage or Deed of Trust to the Trustee, recorded on
______________________________ as instrument no. ______________ in
the County Recorder's Office of the County of
______________________, State of _____________________ in
book/reel/docket ____________________ of official records at
page/image ____________.
( ) Other documents, including any amendments, assignments or other
assumptions of the Mortgage Note or Mortgage.
( ) _____________________________________________
( ) _____________________________________________
( ) _____________________________________________
( ) _____________________________________________
The undersigned Master Servicer hereby acknowledges and agrees as
follows:
(1) The Master Servicer shall hold and retain possession of
the Documents in trust for the benefit of the Trustee, solely for the
purposes provided in the Agreement.
(2) The Master Servicer shall not cause or permit the
Documents to become subject to, or encumbered by, any claim, liens,
security interest, charges, writs of attachment or other impositions nor
shall the Master Servicer assert or seek to assert any claims or rights of
setoff to or against the Documents or any proceeds thereof.
(3) The Master Servicer shall return the Documents to the
Trustee when the need therefor no longer exists, unless the Mortgage Loan
relating to the Documents has been liquidated and the proceeds thereof
have been remitted to the Certificate Account and except as expressly
provided in the Agreement.
(4) The Documents and any proceeds thereof, including any
proceeds of proceeds, coming into the possession or control of the Master
Servicer shall at all times be earmarked for the account of the Trustee
and the Master Servicer shall keep the Documents and any proceeds separate
and distinct from all other property in the Master Servicer's possession,
custody or control.
NORWEST BANK MINNESOTA, NATIONAL
ASSOCIATION
By: __________________________
Title: ________________________
Date: ________________, 19__
<PAGE>
EXHIBIT H
AFFIDAVIT PURSUANT TO SECTION
860E(e)(4) OF THE INTERNAL
REVENUE CODE OF 1986, AS
AMENDED, AND FOR NON-ERISA
INVESTORS
STATE OF )
) ss.:
COUNTY OF )
[NAME OF OFFICER], being first duly sworn, deposes and says:
1.____That he is [Title of Officer] of [Name of Purchaser] (the
"Purchaser"), a [description of type of entity] duly organized and existing
under the laws of the [State of ] [United States], on behalf of which he makes
this affidavit.
2.____That the Purchaser's Taxpayer Identification Number
is [ ].
3.____That the Purchaser is not a "disqualified organization" within
the meaning of Section 860E(e)(5),of the Internal Revenue Code of 1986, as
amended (the "Code"), or an ERISA Prohibited Holder, and will not be a
"disqualified organization" or an ERISA Prohibited Holder, as of [date of
transfer], and that the Purchaser is not acquiring Norwest Asset Securities
Corporation Mortgage Pass-Through Certificates, Series 2000-2, Class A-R
Certificate (the "Class A-R Certificate") for the account of, or as agent
(including a broker, nominee, or other middleman) for, any person or entity from
which it has not received an affidavit substantially in the form of this
affidavit. For these purposes, a "disqualified organization" means the United
States, any state or political subdivision thereof, any foreign government, any
international organization, any agency or instrumentality of any of the
foregoing (other than an instrumentality if all of its activities are subject to
tax and a majority of its board of directors is not selected by such
governmental entity), any cooperative organization furnishing electric energy or
providing telephone service to persons in rural areas as described in Code
Section 1381(a)(2)(C), or any organization (other than a farmers' cooperative
described in Code Section 521) that is exempt from taxation under the Code
unless such organization is subject to the tax on unrelated business income
imposed by Code Section 511. For these purposes, an "ERISA Prohibited Holder"
means an employee benefit plan or other retirement arrangement subject to Title
I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"),
or Code Section 4975 or a governmental plan, as defined in Section 3(32) of
ERISA, subject to any federal, state or local law which is, to a material
extent, similar to the foregoing provisions of ERISA or the Code (collectively,
a "Plan") or a Person acting on behalf of or investing the assets of such a
Plan.
4. That the Purchaser historically has paid its debts as they
have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class A-R
Certificate as they become due.
5. That the Purchaser understands that it may incur tax
liabilities with respect to the Class A-R Certificate in excess of cash flows
generated by the Class A-R Certificate.
6. That the Purchaser will not transfer the Class A-R Certificate
to any person or entity from which the Purchaser has not received an affidavit
substantially in the form of this affidavit and as to which the Purchaser has
actual knowledge that the requirements set forth in paragraph 3, 4 or 7 hereof
are not satisfied or that the Purchaser has reason to know does not satisfy the
requirements set forth in paragraph 4 hereof.
7. That the Purchaser (i) is a U.S. Person or (ii) is a person
other than a U.S. Person (a "Non-U.S. Person") that holds the Class A-R
Certificate in connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or successor form at the time and in the
manner required by the Code or (iii) is a Non-U.S. Person that has delivered to
both the transferor and the Trustee an opinion of a nationally recognized tax
counsel to the effect that the transfer of the Class A-R Certificate to it is in
accordance with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of the Class A-R Certificate will not be
disregarded for federal income tax purposes. "U.S. Person" means a citizen or
resident of the United States, a corporation or partnership (unless in the case
of a partnership, Treasury regulations are adopted that provide otherwise)
created or organized in or under the laws of the United States, any state
thereof or the District of Columbia, including an entity treated as a
corporation or partnership for federal income tax purposes, an estate whose
income is subject to U.S. federal income tax regardless of its source, or a
trust if a court within the United States is able to exercise primary
supervision over the administration of such trust, and one or more such U.S.
Persons have the authority to control all substantial decisions of such trust
(or, to the extent provided in applicable Treasury regulations, certain trusts
in existence on August 20, 1996 which are eligible to elect to be treated as
U.S. Persons).
8. That the Purchaser agrees to such amendments of the Pooling
and Servicing Agreement as may be required to further effectuate the
restrictions on transfer of the Class A-R Certificate to such a "disqualified
organization," an agent thereof, an ERISA Prohibited Holder or a person that
does not satisfy the requirements of paragraph 4, paragraph 5 and paragraph 7
hereof.
9. That the Purchaser consents to the designation of the Master
Servicer as its agent to act as "tax matters person" of the REMIC pursuant to
Section 3.01 of the Pooling and Servicing Agreement, and if such designation is
not permitted by the Code and applicable law, to act as tax matters person if
requested to do so.
<PAGE>
IN WITNESS WHEREOF, the Purchaser has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
[Title of Officer] this ___ day of
__________, 19 __.
[Name of Purchaser]
By:__________________________
[Name of Officer]
[Title of Officer]
Personally appeared before me the above-named [Name of Officer],
known or proved to me to be the same person who executed the foregoing
instrument and to be the [Title of Officer], of the Purchaser, and acknowledged
to me that he [she] executed the same as his [her] free act and deed and the
free act and deed of the Purchaser.
Subscribed and sworn before me this __ day of ,
----------
19 __.
_____________________________
NOTARY PUBLIC
COUNTY OF____________________
STATE OF_____________________
My commission expires the __ day of __________, 19__.
<PAGE>
EXHIBIT I
[Letter from Transferor of Class A-R Certificate]
[Date]
First Union National Bank
230 South Tryon Street
Charlotte, North Carolina 28288
Re: Norwest Asset Securities Corporation,
Series 2000-2, Class A-R
Ladies and Gentlemen:
[Transferor] has reviewed the attached affidavit of [Transferee],
and has no actual knowledge that such affidavit is not true and has no reason to
know that the information contained in paragraph 4 thereof is not true.
Very truly yours,
[Transferor]
______________________
<PAGE>
EXHIBIT J
NORWEST ASSET SECURITIES CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-2
CLASS [A-PO][B-4][B-5][B-6] CERTIFICATES
TRANSFEREE'S LETTER
_________________ __, ____
First Union National Bank
230 South Tryon Street
Charlotte, North Carolina 28288
Norwest Asset Securities Corporation
7485 New Horizon Way
Frederick, Maryland 21703
The undersigned (the "Purchaser") proposes to purchase Norwest Asset
Securities Corporation Mortgage Pass-Through Certificates, Series 2000-2, Class
[A-PO][B-4][B-5][B-6] Certificates (the "Class [A-PO][B-4][B-5][B-6]
Certificates") in the principal amount of $___________. In doing so, the
Purchaser hereby acknowledges and agrees as follows:
Section 1. Definitions. Each capitalized term used herein and not
otherwise defined herein shall have the meaning ascribed to it in the Pooling
and Servicing Agreement, dated as of March 30, 2000 (the "Pooling and Servicing
Agreement") among Norwest Asset Securities Corporation, as seller (the
"Seller"), Norwest Bank Minnesota, National Association, as master servicer (the
"Master Servicer") and First Union National Bank, as trustee (the "Trustee"), of
Norwest Asset Securities Corporation Mortgage Pass-Through Certificates, Series
2000-2.
Section 2. Representations and Warranties of the Purchaser. In
connection with the proposed transfer, the Purchaser represents and warrants to
the Seller, the Master Servicer and the Trustee that:
(a) The Purchaser is duly organized, validly existing and in good
standing under the laws of the jurisdiction in which the Purchaser is organized,
is authorized to invest in the Class [A-PO][B-4][B-5][B-6] Certificates, and to
enter into this Agreement, and duly executed and delivered this Agreement.
(b) The Purchaser is acquiring the Class [A-PO][B-4][B-5][B-6]
Certificates for its own account as principal and not with a view to the
distribution thereof, in whole or in part.
[(c) The Purchaser has knowledge of financial and business matters
and is capable of evaluating the merits and risks of an investment in the Class
[A-PO][B-4][B-5][B-6] Certificates; the Purchaser has sought such accounting,
legal and tax advice as it has considered necessary to make an informed
investment decision; and the Purchaser is able to bear the economic risk of an
investment in the Class [A-PO][B-4][B-5][B-6] Certificates and can afford a
complete loss of such investment.]
[(c) The Purchaser is a "Qualified Institutional Buyer" within the
meaning of Rule 144A of the Act.]
(d) The Purchaser confirms that (a) it has received and reviewed a
copy of the Private Placement Memorandum dated __________ __, 19__, relating to
the Class [A-PO][B-4][B-5][B-6] Certificates and reviewed, to the extent it
deemed appropriate, the documents attached thereto or incorporated by reference
therein, (b) it has had the opportunity to ask questions of, and receive answers
from the Seller concerning the Class [A-PO][B-4][B-5][B-6] Certificates and all
matters relating thereto, and obtain any additional information (including
documents) relevant to its decision to purchase the Class [A-PO][B-4][B-5][B-6]
Certificates that the Seller possesses or can possess without unreasonable
effort or expense and (c) it has undertaken its own independent analysis of the
investment in the Class [A-PO][B-4][B-5][B-6] Certificates. The Purchaser will
not use or disclose any information it receives in connection with its purchase
of the Class [A-PO][B-4][B-5][B-6] Certificates other than in connection with a
subsequent sale of Class [A-PO][B-4][B-5][B-6] Certificates.
(e) Either (i) the Purchaser is not an employee benefit plan or
other retirement arrangement subject to Title I of the Employee Retirement
Income Security Act of 1974, as amended, ("ERISA"), or Section 4975 of the
Internal Revenue Code of 1986, as amended (the "Code"), or a governmental plan,
as defined in Section 3(32) of ERISA subject to any federal, state or local law
("Similar Law") which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (collectively, a "Plan"), an agent acting on
behalf of a Plan, or a person utilizing the assets of a Plan or (ii) [for Class
[B-4][B-5][B-6] Certificates only] if the Purchaser is an insurance company, (A)
the source of funds used to purchase the Class [B-4][B-5][B-6] Certificate is an
"insurance company general account" (as such term is defined in Section V(e) of
Prohibited Transaction Class Exemption 95-60 ("PTE 95-60"), 60 Fed. Reg. 35925
(July 12, 1995), (B) there is no Plan with respect to which the amount of such
general account's reserves and liabilities for the contract(s) held by or on
behalf of such Plan and all other Plans maintained by the same employer (or
affiliate thereof as defined in Section V(a)(1) of PTE 95-60) or by the same
employee organization exceeds 10% of the total of all reserves and liabilities
of such general account (as such amounts are determined under Section I(a) of
PTE 95-60) at the date of acquisition and (C) the purchase and holding of such
Class [B-4][B-5][B-6] Certificates are covered by Sections I and III of PTE
95-60 or (iii) the Purchaser has provided (a) a "Benefit Plan Opinion"
satisfactory to the Seller and the Trustee of the Trust Estate and (b) such
other opinions of counsel, officers' certificates and agreements as the Seller
or the Master Servicer may have required. A Benefit Plan Opinion is an opinion
of counsel to the effect that the proposed transfer will not cause the assets of
the Trust Estate to be regarded as "plan assets" and subject to the prohibited
transaction provisions of ERISA, the Code or Similar Law and will not subject
the Trustee, the Seller or the Master Servicer to any obligation in addition to
those undertaken in the Pooling and Servicing Agreement (including any liability
for civil penalties or excise taxes imposed pursuant to ERISA, Section 4975 of
the Code or Similar Law).
(f) If the Purchaser is a depository institution subject to the
jurisdiction of the Office of the Comptroller of the Currency ("OCC"), the Board
of Governors of the Federal Reserve System ("FRB"), the Federal Deposit
Insurance Corporation ("FDIC"), the Office of Thrift Supervision ("OTS") or the
National Credit Union Administration ("NCUA"), the Purchaser has reviewed the
"Supervisory Policy Statement on Securities Activities" dated January 28, 1992
of the Federal Financial Institutions Examination Council and the April 15, 1994
Interim Revision thereto as adopted by the OCC, FRB, FDIC, OTS and NCUA (with
modifications as applicable), as appropriate, other applicable investment
authority, rules, supervisory policies and guidelines of these agencies and, to
the extent appropriate, state banking authorities and has concluded that its
purchase of the Class [A-PO][B-4][B-5][B-6] Certificates is in compliance
therewith.
Section 3. Transfer of Class [A-PO][B-4][B-5][B-6] Certificates.
(a) The Purchaser understands that the Class [A-PO][B-4][B-5][B-6]
Certificates have not been registered under the Securities Act of 1933 (the
"Act") or any state securities laws and that no transfer may be made unless the
Class [A-PO][B-4][B-5][B-6] Certificates are registered under the Act and
applicable state law or unless an exemption from registration is available. The
Purchaser further understands that neither the Seller, the Master Servicer nor
the Trustee is under any obligation to register the Class [A-PO][B-4][B-5][B-6]
Certificates or make an exemption available. In the event that such a transfer
is to be made in reliance upon an exemption from the Act or applicable state
securities laws, (i) the Trustee shall require, in order to assure compliance
with such laws, that the Certificateholder's prospective transferee certify to
the Seller and the Trustee as to the factual basis for the registration or
qualification exemption relied upon, and (ii) unless the transferee is a
"Qualified Institutional Buyer" within the meaning of Rule 144A of the Act, the
Trustee or the Seller may, if such transfer is made within three years from the
later of (a) the Closing Date or (b) the last date on which the Seller or any
affiliate thereof was a holder of the Certificates proposed to be transferred,
require an Opinion of Counsel that such transfer may be made pursuant to an
exemption from the Act and state securities laws, which Opinion of Counsel shall
not be an expense of the Trustee, the Master Servicer or the Seller. Any such
Certificateholder desiring to effect such transfer shall, and does hereby agree
to, indemnify the Trustee, the Master Servicer, any Paying Agent acting on
behalf of the Trustee and the Seller against any liability that may result if
the transfer is not so exempt or is not made in accordance with such federal and
state laws.
(b) No transfer of a Class [A-PO][B-4][B-5][B-6] Certificate shall
be made unless the transferee provides the Seller and the Trustee with a
Transferee's Letter, substantially in the form of this Agreement.
(c) The Purchaser acknowledges that its Class
[A-PO][B-4][B-5][B-6] Certificates bear a legend setting forth the applicable
restrictions on transfer.
<PAGE>
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be
validly executed by its duly authorized representative as of the day and the
year first above written.
[PURCHASER]
By:
------------------------------
Its:
------------------------------
<PAGE>
EXHIBIT K
NORWEST ASSET SECURITIES CORPORATION
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2000-2
CLASS [B-1] [B-2] [B-3] CERTIFICATES
TRANSFEREE'S LETTER
________________ __, ____
First Union National Bank
230 South Tryon Street
Charlotte, North Carolina 28288
Norwest Asset Securities Corporation
7485 New Horizon Way
Frederick, Maryland 21703
The undersigned (the "Purchaser") proposes to purchase Norwest Asset
Securities Corporation Mortgage Pass-Through Certificates, Series 2000-2, Class
[B-1][B-2][B-3] Certificates (the "Class [B-1][B-2][B-3] Certificates") in the
principal amount of $___________. In doing so, the Purchaser hereby acknowledges
and agrees as follows:
Section 1. Definitions. Each capitalized term used herein and not
otherwise defined herein shall have the meaning ascribed to it in the Pooling
and Servicing Agreement, dated as of March 30, 2000 (the "Pooling and Servicing
Agreement") among Norwest Asset Securities Corporation, as seller (the
"Seller"), Norwest Bank Minnesota, National Association, as master servicer (the
"Master Servicer") and First Union National Bank, as trustee (the "Trustee") of
Norwest Asset Securities Corporation Mortgage Pass-Through Certificates, Series
2000-2.
Section 2. Representations and Warranties of the Purchaser. In
connection with the proposed transfer, the Purchaser represents and warrants to
the Seller, the Master Servicer and the Trustee that:
Either (i) the Purchaser is not an employee benefit plan or other
retirement arrangement subject to Title I of the Employee Retirement
Income Security Act of 1974, as amended, ("ERISA"), or Section 4975 of the
Internal Revenue Code of 1986, as amended (the "Code"), or a governmental
plan, as defined in Section 3(32) of ERISA subject to any federal, state
or local law ("Similar Law") which is, to a material extent, similar to
the foregoing provisions of ERISA or the Code (collectively, a "Plan"), an
agent acting on behalf of a Plan, or a person utilizing the assets of a
Plan or (ii) if the Purchaser is an insurance company, (A) the source of
funds used to purchase the Class [B-1] [B-2] [B-3] Certificate is an
"insurance company general account" (as such term is defined in Section
V(e) of Prohibited Transaction Class Exemption 95-60 ("PTE 95-60"), 60
Fed. Reg. 35925 (July 12, 1995), (B) there is no Plan with respect to
which the amount of such general account's reserves and liabilities for
the contract(s) held by or on behalf of such Plan and all other Plans
maintained by the same employer (or affiliate thereof as defined in
Section V(a)(1) of PTE 95-60) or by the same employee organization, exceed
10% of the total of all reserves and liabilities of such general account
(as such amounts are determined under Section I(a) of PTE 95-60) at the
date of acquisition and (C) the purchase and holding of such Class
[B-1][B-2][B-3] Certificate are covered by Sections I and III of PTE 95-60
or (iii) the Purchaser has provided (a) a "Benefit Plan Opinion"
satisfactory to the Seller and the Trustee of the Trust Estate and (b)
such other opinions of counsel, officers' certificates and agreements as
the Seller or the Master Servicer may have required. A Benefit Plan
Opinion is an opinion of counsel to the effect that the proposed transfer
will not cause the assets of the Trust Estate to be regarded as "plan
assets" and subject to the prohibited transaction provisions of ERISA, the
Code or Similar Law and will not subject the Trustee, the Seller or the
Master Servicer to any obligation in addition to those undertaken in the
Pooling and Servicing Agreement (including any liability for civil
penalties or excise taxes imposed pursuant to ERISA, Section 4975 of the
Code or Similar Law).
IN WITNESS WHEREOF, the undersigned has caused this Agreement to be
validly executed by its duly authorized representative as of the day and the
year first above written.
[PURCHASER]
By: _____________________________
Its:_____________________________
[Reserved]
<PAGE>
EXHIBIT L
SERVICING AGREEMENTS
Norwest Mortgage, Inc. Servicing Agreement
National City Mortgage Co. Servicing Agreement
Chevy Chase Bank, F.S.B. Servicing Agreement
Downey Savings & Loan Association, F.A. Servicing Agreement
HomeSide Lending, Inc. Servicing Agreement
Merrill Lynch Credit Corporation Servicing Agreement
Hibernia National Bank Servicing Agreement
The Huntington Mortgage Company Servicing Agreement
Bank of Oklahoma, N.A.Servicing Agreement
America First Credit Union Servicing Agreement
Farmers State Bank & Trust Company of Superior Servicing Agreement
Keystone National Bank Servicing Agreement
<PAGE>
EXHIBIT M
[FORM OF SPECIAL SERVICING AGREEMENT]
SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT (the
"Agreement") is made and entered into as of _____, between Norwest Bank
Minnesota, National Association (the "Company" and "Norwest Bank") and _____
(the "Purchaser").
PRELIMINARY STATEMENT
______________________ is the holder of the entire interest in
Norwest Asset Securities Corporation Mortgage Pass-Through Certificates, Series
2000-2, Class ____ (the "Class B Certificates"). The Class B Certificates were
issued pursuant to a Pooling and Servicing Agreement dated as of March 30, 2000
among Norwest Asset Securities Corporation, as seller (the "Seller"), Norwest
Bank Minnesota, National Association, as Master Servicer and First Union
National Bank, as Trustee.
______________________ intends to resell all of the Class B
Certificates directly to the Purchaser on or promptly after the date hereof.
In connection with such sale, the parties hereto have agreed that
the Company will cause, to the extent that the Company as Master Servicer is
granted such authority in the related Servicing Agreements, the related
servicers (each a related "Servicer"), which service the Mortgage Loans which
comprise the Trust Estate related to the above referenced series under the
related servicing agreements (each a related "Servicing Agreement"), to engage
in certain special servicing procedures relating to foreclosures for the benefit
of the Purchaser, and that the Purchaser will deposit funds in a collateral fund
to cover any losses attributable to such procedures as well as all advances and
costs in connection therewith, as set forth herein.
In consideration of the mutual agreements herein contained, the
receipt and sufficiency of which are hereby acknowledged, the Company and the
Purchaser agree that the following provisions shall become effective and shall
be binding on and enforceable by the Company and the Purchaser:
ARTICLE I
DEFINITIONS
Section 1.1. Defined Terms.
Whenever used in this Agreement, the following words and phrases,
unless the context otherwise requires, shall have the following meanings:
Business Day: Any day other than (i) a Saturday or a Sunday or (ii)
a day on which banking institutions in the State of New York are required or
authorized by law or executive order to be closed.
Collateral Fund: The fund established and maintained pursuant to
Section 3.01 hereof.
Collateral Fund Permitted Investments: Either (i) obligations of, or
obligations fully guaranteed as to principal and interest by, the United States,
or any agency or instrumentality thereof, provided such obligations are backed
by the full faith and credit of the United States, (ii) a money market fund
rated in the highest rating category by a nationally recognized rating agency
selected by the Company, (iii) cash, (iv) mortgage pass-through certificates
issued or guaranteed by Government National Mortgage Association, FNMA or FHLMC,
(v) commercial paper (including both non-interest-bearing discount obligations
and interest-bearing obligations payable on demand or on a specified date), the
issuer of which may be an affiliate of the Company, having at the time of such
investment a rating of at least A-1 by Standard and Poor's ("S&P") or at least
D-1 by Duff & Phelps Credit Rating Co. ("DCR") or (vi) demand and time deposits
in, certificates of deposit of, any depository institution or trust company
(which may be an affiliate of the Company) incorporated under the laws of the
United States of America or any state thereof and subject to supervision and
examination by federal and/or state banking authorities, so long as at the time
of such investment either (x) the long-term debt obligations of such depository
institution or trust company have a rating of at least AA by DCR or S&P, (y) the
certificate of deposit or other unsecured short-term debt obligations of such
depository institution or trust company have a rating of at least D-1 by DCR or
A-1 by S&P or (z) the depository institution or trust company is one that is
acceptable to either DCR or S&P and, for each of the preceding clauses (i),
(iv), (v) and (vi), the maturity thereof shall be not later than the earlier to
occur of (A) 30 days from the date of the related investment and (B) the next
succeeding Distribution Date as defined in the related Pooling and Servicing
Agreement.
Commencement of Foreclosure: The first official action required
under local law in order to commence foreclosure proceedings or to schedule a
trustee's sale under a deed of trust, including (i) in the case of a mortgage,
any filing or service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, posting, the publishing, filing or
delivery of a notice of sale, but not including in either case (x) any notice of
default, notice of intent to foreclose or sell or any other action prerequisite
to the actions specified in (i) or (ii) above, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of the related
property or otherwise) or (z) initiation and completion of a short pay-off.
Current Appraisal: With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, an appraisal of the related
Mortgaged Property obtained by the Purchaser at its own expense from an
independent appraiser (which shall not be an affiliate of the Purchaser)
acceptable to the Company as nearly contemporaneously as practicable to the time
of the Purchaser's election, prepared based on the Company's customary
requirements for such appraisals.
Election to Delay Foreclosure: Any election by the Purchaser to
delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).
Election to Foreclose: Any election by the Purchaser to proceed with
the Commencement of Foreclosure, made in accordance with Section 2.03(a).
Monthly Advances: Principal and interest advances and servicing
advances including costs and expenses of foreclosure.
Required Collateral Fund Balance: As of any date of determination,
an amount equal to the aggregate of all amounts previously required to be
deposited in the Collateral Fund pursuant to Section 2.02(d) (after adjustment
for all withdrawals and deposits pursuant to Section 2.02(e)) and Section
2.03(b) (after adjustment for all withdrawals and deposits pursuant to Section
2.03(c)) and Section 3.02 to be reduced by all withdrawals therefrom pursuant to
Section 2.02(g) and Section 2.03(d).
Section 1.2. Definitions Incorporated by Reference.
All capitalized terms not otherwise defined in this Agreement shall
have the meanings assigned in the Pooling and Servicing Agreement.
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.1. Reports and Notices.
(a) In connection with the performance of its duties under the
Pooling and Servicing Agreement relating to the realization upon defaulted
Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser
the following notices and reports:
(i)Within five Business Days after each Distribution Date (or
included in or with the monthly statements to Certificateholders pursuant
to the Pooling and Servicing Agreement), the Company, shall provide to the
Purchaser a report, using the same methodology and calculations in its
standard servicing reports, indicating for the Trust Estate the number of
Mortgage Loans that are (A) thirty days, (B) sixty days, (C) ninety days
or more delinquent or (D) in foreclosure, and indicating for each such
Mortgage Loan the loan number and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in connection with
any Mortgage Loan, the Company shall cause (to the extent that the Company
as Master Servicer is granted such authority in the related Servicing
Agreement) the Servicer to provide the Purchaser with a notice (sent by
telecopier) of such proposed and imminent foreclosure, stating the loan
number and the aggregate amount owing under the Mortgage Loan. Such notice
may be provided to the Purchaser in the form of a copy of a referral
letter from such Servicer to an attorney requesting the institution of
foreclosure.
(b) If requested by the Purchaser, the Company shall cause the
Servicer (to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement) to make its servicing personnel
available (during their normal business hours) to respond to reasonable
inquiries, by phone or in writing by facsimile, electronic, or overnight mail
transmission, by the Purchaser in connection with any Mortgage Loan identified
in a report under subsection (a) (i) (B), (a) (i) (C), (a) (i) (D), or (a) (ii)
which has been given to the Purchaser; provided, that (1) the related Servicer
shall only be required to provide information that is readily accessible to its
servicing personnel and is non-confidential and (2) the related Servicer shall
respond within five Business Days orally or in writing by facsimile
transmission.
(c) In addition to the foregoing, the Company shall cause the
Servicer (to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement) to provide to the Purchaser such
information as the Purchaser may reasonably request provided, however, that such
information is consistent with normal reporting practices, concerning each
Mortgage Loan that is at least ninety days delinquent and each Mortgage Loan
which has become real estate owned, through the final liquidation thereof;
provided, that the related Servicer shall only be required to provide
information that is readily accessible to its servicing personnel and is
non-confidential provided, however, that the Purchaser will reimburse the
Company and the related Servicer for any out of pocket expenses.
Section 2.2. Purchaser's Election to Delay Foreclosure
Proceedings.
(a) The Purchaser shall be deemed to direct the Company to direct
(to the extent that the Company as Master Servicer is granted such authority in
the related Servicing Agreement) the related Servicer that in the event that the
Company does not receive written notice of the Purchaser's election pursuant to
subsection (b) below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under Section 2.01
(a) (ii) subject to extension as set forth in Section 2.02(b), the related
Servicer may proceed with the Commencement of Foreclosure in respect of such
Mortgage Loan in accordance with its normal foreclosure policies without further
notice to the Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage Loan has been
brought current or if a refinancing or prepayment occurs with respect to the
Mortgage Loan (including by means of a short payoff approved by the related
Servicer) or (ii) if the related Servicer has reached the terms of a forbearance
agreement with the borrower. In the latter case, the related Servicer may
complete such forbearance agreement unless instructed otherwise by the Purchaser
within two Business Days notification.
(b) In connection with any Mortgage Loan with respect to which a
notice under Section 2.01(a)(ii) has been given to the Purchaser, the Purchaser
may elect to instruct the Company to cause, to the extent that the Company as
Master Servicer is granted such authority in the related Servicing Agreement,
the related Servicer to delay the Commencement of Foreclosure until such time as
the Purchaser determines that the related Servicer may proceed with the
Commencement of Foreclosure. Such election must be evidenced by written notice
received within 24 hours (exclusive of any intervening non-Business Days) of
transmission of the notice provided by the Company under Section 2.01(a)(ii).
Such 24 hour period shall be extended for no longer than an additional four
Business Days after the receipt of the information if the Purchaser requests
additional information related to such foreclosure; provided, however, that the
Purchaser will have at least one Business Day to respond to any requested
additional information. Any such additional information shall be provided only
to the extent it (i) is not confidential in nature and (ii) is obtainable by the
related Servicer from existing reports, certificates or statements or is
otherwise readily accessible to its servicing personnel. The Purchaser agrees
that it has no right to deal with the mortgagor during such period. However, if
such servicing activities include acceptance of a deed-in-lieu of foreclosure or
short payoff, the Purchaser will be notified and given two Business Days to
respond.
(c) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the Purchaser shall obtain a Current
Appraisal as soon as practicable, but in no event more than 15 business days
thereafter, and shall provide the Company with a copy of such Current Appraisal.
(d) Within two Business Days of making any Election to Delay
Foreclosure, the Purchaser shall remit by wire transfer to the Company, for
deposit in the Collateral Fund, an amount, as calculated by the Company, equal
to the sum of (i) 125% of the greater of the unpaid principal balance of the
Mortgage Loan and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet been obtained,
the Company's estimate thereof, in which case the required deposit under this
subsection shall be adjusted upon obtaining such Current Appraisal), and (ii)
three months' interest on the Mortgage Loan at the applicable Mortgage Interest
Rate. If any Election to Delay Foreclosure extends for a period in excess of
three months (such excess period being referred to herein as the "Excess
Period"), within two Business Days the Purchaser shall remit by wire transfer in
advance to the Company for deposit in the Collateral Fund the amount of each
additional month's interest, as calculated by the Company, equal to interest on
the Mortgage Loan at the applicable Mortgage Interest Rate for the Excess
Period. The terms of this Agreement will no longer apply to the servicing of any
Mortgage Loan upon the failure of the Purchaser to deposit any of the above
amounts relating to the Mortgage Loan within two Business Days of the Election
to Delay Foreclosure or within two Business Days of the commencement of the
Excess Period subject to Section 3.01.
(e) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the Company may withdraw from the
Collateral Fund from time to time amounts necessary to reimburse the related
Servicer for all related Monthly Advances and Liquidation Expenses thereafter
made by such Servicer in accordance with the Pooling and Servicing Agreement and
the related Servicing Agreement. To the extent that the amount of any such
Liquidation Expenses is determined by the Company based on estimated costs, and
the actual costs are subsequently determined to be higher, the Company may
withdraw the additional amount from the Collateral Fund. In the event that the
Mortgage Loan is brought current by the mortgagor and the foreclosure action is
discontinued, the amounts so withdrawn from the Collateral Fund shall be
redeposited if and to the extent that reimbursement therefor from amounts paid
by the mortgagor is not prohibited pursuant to the Pooling and Servicing
Agreement or the related Servicing Agreement, applicable law or the related
mortgage note. Except as provided in the preceding sentence, amounts withdrawn
from the Collateral Fund to cover Monthly Advances and Liquidation Expenses
shall not be redeposited therein or otherwise reimbursed to the Purchaser. If
and when any such Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all permitted withdrawals and deposits pursuant to this
subsection) shall be released to the Purchaser.
(f) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the related Servicer shall continue to
service the Mortgage Loan in accordance with its customary procedures (other
than the delay in Commencement of Foreclosure as provided herein). If and when
the Purchaser shall notify the Company that it believes that it is appropriate
to do so, the related Servicer may proceed with the Commencement of Foreclosure.
In any event, if the Mortgage Loan is not brought current by the mortgagor by
the time the loan becomes 6 months delinquent, the Purchaser's election shall no
longer be effective and at the Purchaser's option, either (i) the Purchaser
shall purchase the Mortgage Loan from the related Trust Estate at a purchase
price equal to the fair market value as shown on the Current Appraisal, to be
paid by (x) applying any balance in the Collateral Fund to such to such purchase
price, and (y) to the extent of any deficiency, by wire transfer of immediately
available funds from the Purchaser to the Company for deposit in the related
Certificate Account; or (ii) the related Servicer shall proceed with the
Commencement of Foreclosure.
(g) Upon the occurrence of a liquidation with respect to any
Mortgage Loan as to which the Purchaser made an Election to Delay Foreclosure
and as to which the related Servicer proceeded with the Commencement of
Foreclosure in accordance with subsection (f) above, the Company shall calculate
the amount, if any, by which the value shown on the Current Appraisal obtained
under subsection (c) exceeds the actual sales price obtained for the related
Mortgaged Property (net of Liquidation Expenses and accrued interest related to
the extended foreclosure period), and the Company shall withdraw the amount of
such excess from the Collateral Fund, shall remit the same to the Trust Estate
and in its capacity as Master Servicer shall apply such amount as additional
Liquidation Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral Fund in respect
of such Mortgage Loan (after adjustment for all permitted withdrawals and
deposits pursuant to this Agreement) shall be released to the Purchaser.
Section 2.3. Purchaser's Election to Commence Foreclosure
Proceedings.
(a) In connection with any Mortgage Loan identified in a report
under Section 2.01(a)(i)(B), the Purchaser may elect to instruct the Company to
cause, to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement, the related Servicer to proceed
with the Commencement of Foreclosure as soon as practicable. Such election must
be evidenced by written notice received by the Company by 5:00 p.m., New York
City time, on the third Business Day following the delivery of such report under
Section 2.01(a)(i).
(b) Within two Business Days of making any Election to Foreclose,
the Purchaser shall remit to the Company, for deposit in the Collateral Fund, an
amount, as calculated by the Company, equal to 125% of the current unpaid
principal balance of the Mortgage Loan and three months interest on the Mortgage
Loan at the applicable Mortgage Interest Rate. If and when any such Mortgage
Loan is brought current by the mortgagor, all amounts in the Collateral Fund in
respect of such Mortgage Loan (after adjustment for all permitted withdrawals
and deposits pursuant to this Agreement) shall be released to the Purchaser if
and to the extent that reimbursement therefor from amounts paid by the mortgagor
is not prohibited pursuant to the Pooling and Servicing Agreement or the related
Servicing Agreement, applicable law or the related mortgage note. The terms of
this Agreement will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts relating to the
Mortgage Loan within two Business Days of the Election to Foreclose subject to
Section 3.01.
(c) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Foreclose, the related Servicer shall continue to service
the Mortgage Loan in accordance with its customary procedures (other than
Commencement of Foreclosure as provided herein). In connection therewith, the
Company shall have the same rights to make withdrawals for Monthly Advances and
Liquidations Expenses from the Collateral Fund as are provided under Section
2.02(e), and the Company shall make reimbursements thereto to the limited extent
provided under such subsection in accordance with its customary procedures. The
Company shall not be required to cause, to the extent that the Company as Master
Servicer is granted such authority in the related Servicing Agreement, the
related Servicer to proceed with the Commencement of Foreclosure if (i) the same
is stayed as a result of the mortgagor's bankruptcy or is otherwise barred by
applicable law, or to the extent that all legal conditions precedent thereto
have not yet been complied with, or (ii) the Company believes there is a breach
of representations or warranties by the Company, a Servicer, or a Seller, which
may result in a repurchase or substitution of such Mortgage Loan, or (iii) the
Company or related Servicer reasonably believes the Mortgaged Property may be
contaminated with or affected by hazardous wastes or hazardous substances (and,
without limiting the related Servicer's right not to proceed with the
Commencement of Foreclosure, the Company supplies the Purchaser with information
supporting such belief). Any foreclosure that has been initiated may be
discontinued (x) without notice to the Purchaser if the Mortgage Loan has been
brought current or if a refinancing or prepayment occurs with respect to the
Mortgage Loan (including by means of a short payoff approved by the Purchaser)
or (y) with notice to the Purchaser if the related Servicer has reached the
terms of a forbearance agreement unless instructed otherwise by the Purchaser
within two Business Days of such notification. Any such instruction shall be
based upon a decision that such forbearance agreement is not in conformity with
reasonable servicing practices.
(d) Upon the occurrence of a liquidation with respect to any
Mortgage Loan as to which the Purchaser made an Election to Foreclose and as to
which the related Servicer proceeded with the Commencement of Foreclosure in
accordance with subsection (c) above, the Company shall calculate the amount, if
any, by which the unpaid principal balance of the Mortgage Loan at the time of
liquidation (plus all unreimbursed interest and servicing advances and
Liquidation Expenses in connection therewith other than those paid from the
Collateral Fund) exceeds the actual sales price obtained for the related
Mortgaged Property, and the Company shall withdraw the amount of such excess
from the Collateral Fund, shall remit the same to the Trust Estate and in its
capacity as Master Servicer shall apply such amount as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After making such
withdrawal, all amounts remaining in the Collateral Fund (after adjustment for
all withdrawals and deposits pursuant to subsection (c) in respect of such
Mortgage Loan shall be released to the Purchaser.
Section 2.4. Termination.
(a) With respect to all Mortgage Loans included in the Trust Estate,
the Purchaser's right to make any Election to Delay Foreclosure or any Election
to Foreclose and the Company's obligations under Section 2.01 shall terminate
(i) at such time as the Principal Balance of the Class B Certificates has been
reduced to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the related Servicer's actual historical loss
experience with respect to the Mortgage Loans in the related pool as determined
by the Company) of the aggregate principal balance of all Mortgage Loans that
are in foreclosure or are more than 90 days delinquent on a contractual basis
and REO properties or (y) the aggregate amount that the Company estimates
through the normal servicing practices of the related Servicer will be required
to be withdrawn from the Collateral Fund with respect to Mortgage Loans as to
which the Purchaser has made an Election to Delay Foreclosure or an Election to
Foreclosure, exceeds (z) the then-current principal balance of the Class B
Certificates, (iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee provides written
acknowledgment to the Company of the Purchaser's right hereunder and that such
transferee will have no rights hereunder) in the Class B Certificates (whether
or not such transfer is registered under the Pooling and Servicing Agreement),
including any such transfer in connection with a termination of the Trust Estate
or (iv) upon any breach of the terms of this Agreement by the Purchaser.
(b) Except as set forth in 2.04(a), this Agreement and the
respective rights, obligations and responsibilities of the Purchaser and the
Company hereunder shall terminate upon the later to occur of (i) the final
liquidation of the last Mortgage Loan as to which the Purchaser made any
Election to Delay Foreclosure or any Election to Foreclose and the withdrawal of
all remaining amounts in the Collateral Fund as provided herein and (ii) ten
Business Days' notice. The Purchaser's right to make an election pursuant to
Section 2.02 or Section 2.03 hereof with respect to a particular Mortgage Loan
shall terminate if the Purchaser fails to make any deposit required pursuant to
Section 2.02(d) or 2.03(b) or if the Purchaser fails to make any other deposit
to the Collateral Fund pursuant to this Agreement.
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.1. Collateral Fund.
Upon receipt from the Purchaser of the initial amount required to be
deposited in the Collateral Fund pursuant to Article II, the Company shall
establish and maintain with Bankers Trust Company as a segregated account on its
books and records an account (the "Collateral Fund"), entitled "Norwest Bank
Minnesota, National Association, as Master Servicer, for the benefit of
registered holders of Norwest Asset Securities Corporation Mortgage Pass-Through
Certificates, Series 2000-2. Amounts held in the Collateral Fund shall continue
to be the property of the Purchaser, subject to the first priority security
interest granted hereunder for the benefit of the Certificateholders, until
withdrawn from the Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The
Collateral Fund shall be an "outside reserve fund" within the meaning of the
REMIC Provisions, beneficially owned by the Purchaser for federal income tax
purposes. All income, gain, deduction or loss with respect to the Collateral
Fund shall be that of the Purchaser. All distributions from the Trust Fund to
the Collateral Fund shall be treated as distributed to the Purchaser as the
beneficial owner thereof.
Upon the termination of this Agreement and the liquidation of all
Mortgage Loans as to which the Purchaser has made any Election to Delay
Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the
Company shall distribute or cause to be distributed to the Purchaser all amounts
remaining in the Collateral Fund (after adjustment for all deposits and
permitted withdrawals pursuant to this Agreement) together with any investment
earnings thereon. In the event the Purchaser has made any Election to Delay
Foreclosure or any Election to Foreclose, prior to any distribution to the
Purchaser of all amounts remaining in the Collateral Fund, funds in the
Collateral Fund shall be applied consistent with the terms of this Agreement.
Section 3.2. Collateral Fund Permitted Investments.
The Company shall, at the written direction of the Purchaser, invest
the funds in the Collateral Fund in Collateral Fund Permitted Investments. Such
direction shall not be changed more frequently than quarterly. In the absence of
any direction, the Company shall select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its discretion.
All income and gain realized from any investment as well as any
interest earned on deposits in the Collateral Fund (net of any losses on such
investments) and any payments of principal made in respect of any Collateral
Fund Permitted Investment shall be deposited in the Collateral Fund upon
receipt. All costs and realized losses associated with the purchase and sale of
Collateral Fund Permitted Investments shall be borne by the Purchaser and the
amount of net realized losses shall be deposited by the Purchaser in the
Collateral Fund promptly upon realization. The Company shall periodically (but
not more frequently than monthly) distribute to the Purchaser upon request an
amount of cash, to the extent cash is available therefore in the Collateral
Fund, equal to the amount by which the balance of the Collateral Fund, after
giving effect to all other distributions to be made from the Collateral Fund on
such date, exceeds the Required Collateral Fund Balance. Any amounts so
distributed shall be released from the lien and security interest of this
Agreement.
Section 3.3. Grant of Security Interest.
The Purchaser hereby grants to the Company for the benefit of the
Certificateholders under the Pooling and Servicing Agreement a security interest
in and lien on all of the Purchaser's right, title and interest, whether now
owned or hereafter acquired, in and to: (1) the Collateral Fund, (2) all amounts
deposited in the Collateral Fund and Collateral Fund Permitted Investments in
which such amounts are invested (and the distributions and proceeds of such
investments) and (3) all cash and non-cash proceeds of any of the foregoing,
including proceeds of the voluntary conversion thereof (all of the foregoing
collectively, the "Collateral").
The Purchaser acknowledges the lien on and the security interest in
the Collateral for the benefit of the Certificateholders. The Purchaser shall
take all actions requested by the Company as may be reasonably necessary to
perfect the security interest created under this Agreement in the Collateral and
cause it to be prior to all other security interests and liens, including the
execution and delivery to the Company for filing of appropriate financing
statements in accordance with applicable law. The Company shall file appropriate
continuation statements, or appoint an agent on its behalf to file such
statements, in accordance with applicable law.
Section 3.4. Collateral Shortfalls.
In the event that amounts on deposit in the Collateral Fund at any
time are insufficient to cover any withdrawals therefrom that the Company is
then entitled to make hereunder, the Purchaser shall be obligated to pay such
amounts to the Company immediately upon demand. Such obligation shall constitute
a general corporate obligation of the Purchaser. The failure to pay such amounts
within two Business Days of such demand (except for amounts to cover interest on
a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an
immediate termination of the Purchaser's right to make any Election to Delay
Foreclosure or Election to Foreclose and the Company's obligations under this
Agreement with respect to all Mortgage Loans to which such insufficiencies
relate, without the necessity of any further notice or demand on the part of the
Company.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.1. Amendment.
This Agreement may be amended from time to time by the Company and
the Purchaser by written agreement signed by the Company and the Purchaser.
Section 4.2. Counterparts.
This Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an original, and
such counterparts shall constitute but one and the same instrument.
Section 4.3. Governing Law.
This Agreement shall be construed in accordance with the laws of the
State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws.
Section 4.4. Notices.
All demands, notices and direction hereunder shall be in writing or
by telecopy and shall be deemed effective upon receipt to:
(a) in the case of the Company,
Norwest Bank Minnesota, National Association
7485 New Horizon Way
Frederick, MD 21703
Attention: Vice President, Master Servicing
Phone: 301-696-7800
Fax: 301-815-6365
(b) in the case of the Purchaser,
_______________________________________
_______________________________________
_______________________________________
_______________________________________
Attention: ____________________________
Section 4.5. Severability of Provisions.
If any one or more of the covenants, agreements, provision or terms
of this Agreement shall be for any reason whatsoever, including regulatory, held
invalid, then such covenants, agreements, provisions or terms of this Agreement
and shall in no way affect the validity or enforceability of the other
provisions of this Agreement.
Section 4.6. Successors and Assigns.
The provisions of this Agreement shall be binding upon and inure to
the benefit of the respective successors and assigns of the parties hereto, and
all such provisions shall inure to the benefit of the Certificateholders;
provided, however, that the rights under this Agreement cannot be assigned by
the Purchaser without the consent of the Company.
Section 4.7. Article and Section Headings.
The article and section headings herein are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.
Section 4.8. Confidentiality.
The Purchaser agrees that all information supplied by or on behalf
of the Company pursuant to Sections 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser agrees to hold
such information confidential and not to disclose such information.
Each party hereto agrees that neither it, nor any officer, director,
employee, affiliate or independent contractor acting at such party's direction
will disclose the terms of Section 4.09 of this Agreement to any person or
entity other than such party's legal counsel except pursuant to a final,
non-appealable order of court, the pendency of such order the other party will
have received notice of at least five business days prior to the date thereof,
or pursuant to the other party's prior express written consent.
Section 4.9. Indemnification.
The Purchaser agrees to indemnify and hold harmless the Company, the
Seller, and each Servicer and each person who controls the Company, the Seller,
or a Servicer and each of their respective officers, directors, affiliates and
agents acting at the Company's, the Seller's, or a Servicer's direction (the
"Indemnified Parties") against any and all losses, claims, damages or
liabilities to which they may be subject, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of, or are
based upon, actions taken by, or actions not taken by, the Company, the Seller,
or a Servicer, or on their behalf, in accordance with the provisions of this
Agreement and (i) which actions conflict with the Company's, the Seller's, or a
Servicer's obligations under the Pooling and Servicing Agreement or the related
Servicing Agreement, or (ii) give rise to securities law liability under federal
or state securities laws with respect to the Certificates. The Purchaser hereby
agrees to reimburse the Indemnified Parties for the reasonable legal or other
expenses incurred by them in connection with investigating or defending any such
loss, claim, damage, liability or action. The indemnification obligations of the
Purchaser hereunder shall survive the termination or expiration of this
Agreement.
<PAGE>
IN WITNESS WHEREOF, the Company and the Purchaser have caused their
names to be signed hereto by their respective officers thereunto duly
authorized, all as of the day and year first above written.
Norwest Bank Minnesota, National
Association
By:____________________________________
Name:
Title:
By:____________________________________
Name:
Title:
