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 (Date of earliest event reported) August 26, 1999
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under the Pooling and
Servicing Agreement, dated as of August 1, 1999,
providing for the issuance of REMIC Multi-Class
Pass-Through Certificates, Series 1999-17)
GE Capital Mortgage Services, Inc.
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
-------------------------------------------------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
Three Executive Campus
Cherry Hill, New Jersey 08002
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (609) 661-6100
--------------
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
General.
On August 26, 1999, GE Capital Mortgage Services, Inc. ("GECMSI") offered to
investors certain classes of its REMIC Multi-Class Pass-Through Certificates,
Series 1999-17 (the "Certificates") evidencing beneficial ownership interests in
a trust fund (the "Trust Fund"). The assets of the Trust Fund consist primarily
of a pool ("Pool 1999-17") of conventional, one- to four-family residential
loans (the "Mortgage Loans"). Capitalized terms used herein and not otherwise
defined shall have the meanings assigned to them in the Prospectus dated August
19, 1999 as supplemented by the Prospectus Supplement dated August 25, 1999.
The original principal balance of each Class of the Certificates is as follows:
Class A1 $25,000,000.00
Class A2 $14,591,000.00
Class A3 $33,502,466.00
Class A4 $24,260,774.00
Class A5 $35,107,542.00
Class A6 $15,029,684.00
Class A7 $5,000,000.00
Class A8 $178,571.00
Class A9 $5,107,000.00
Class A10 $28,009,360.00
Class A11 $20,500,000.00
Class A12 $127,210,748.00
Class R $100.00
Class PO $3,891,829.67
Class M $6,677,000.00
Class B1 $2,636,000.00
Class B2 $1,406,000.00
Class B3 $1,757,000.00
Class B4 $702,000.00
Class B5 $879,878.77
Total : $351,446,953.44
The initial Junior Percentage and initial Senior Percentage for Pool 1999-17 are
approximately 4.00% and 96.00%, respectively. The "Bankruptcy Loss Amount," the
"Fraud Loss Amount" and the "Special Hazard Loss Amount" for Pool 1999-17 as of
the initial issuance of the Certificates are $135,910.00, $3,514,470.00 and
$3,514,470.00, respectively, representing approximately .0400%, 1.0000%, and
1.0000%, respectively, of the aggregate Scheduled Principal Balances of the
Mortgage Loans as of August 1, 1999 (the "Cut-off Date").
Description of the Mortgage Pool and the Mortgaged Properties
Pool 1999-17
Pool 1999-17 consists primarily of fixed-rate, fully-amortizing conventional
Mortgage Loans evidenced by Mortgage Notes which have original maturities of 20
to 30 years and an aggregate outstanding Scheduled Principal Balance as of the
Cut-off Date, after deducting payments of principal due on or before such date
and prepayments of principal received before such date, of $351,446,953.44.
The interest rates (the "Mortgage Rates") borne by the 1073 Mortgage Loans
conveyed by GECMSI to Pool 1999-17 range from 6.5000% to 9.2500% and the
weighted average Mortgage Rate as of the Cut-off Date is 7.4590% per annum (all
weighted averages in this filing are weighted by aggregate outstanding Scheduled
Principal Balance as of the Cut-off Date). At origination, the principal
balances of the Mortgage Loans in Pool 1999-17 ranged from $56,000.00 to
$1,000,000.00, and, as of the Cut-off Date, the average outstanding Scheduled
Principal Balance of the Mortgage Loans in Pool 1999-17 is $327,536.77, after
application of principal payments due on or before the Cut-off Date and
prepayments of principal received before such date. The earliest origination
date of any Mortgage Loan in Pool 1999-17 is May 1993, and the latest scheduled
maturity date of any such Mortgage Loan is August 2029. The weighted average
loan-to-value ratio of the Mortgage Loans as of the Cut-off Date in Pool 1999-17
is 75.9199%.
The Mortgage Loans in Pool 1999-17 have the following characteristics as of the
Cut-off Date.
a) The following table sets forth information, as of the Cut-off Date, with
respect to the Mortgage Rates borne by the Mortgage Loans in Pool 1999-17:
MORTGAGE # OF AGGREGATE BALANCES % OF POOL BY
RATES LOANS AS OF CUT-OFF DATE AGGREGATE BALANCE
----- ----- ------------------ -----------------
6.5000% 8 $2,528,600.35 0.7195%
6.6250% 12 $3,989,338.89 1.1351%
6.7500% 14 $5,165,435.48 1.4698%
6.8750% 78 $25,476,625.17 7.2491%
7.0000% 88 $28,732,637.22 8.1755%
7.1250% 88 $29,977,398.49 8.5297%
7.2500% 147 $48,857,422.82 13.9017%
7.3750% 125 $40,610,518.29 11.5552%
7.5000% 138 $45,649,546.24 12.9890%
7.6250% 91 $29,329,486.65 8.3454%
7.7500% 60 $19,179,695.19 5.4573%
7.8750% 82 $25,488,527.28 7.2525%
8.0000% 50 $15,776,913.36 4.4891%
8.1250% 14 $4,339,910.16 1.2349%
8.2500% 30 $8,717,974.35 2.4806%
8.3750% 17 $6,207,471.37 1.7663%
8.5000% 15 $5,179,117.26 1.4737%
8.6250% 5 $1,757,199.79 0.5000%
8.7500% 3 $953,720.71 0.2714%
8.8750% 5 $1,833,251.88 0.5216%
9.0000% 1 $398,562.49 0.1134%
9.1250% 1 $297,600.00 0.0847%
9.2500% 1 $1,000,000.00 0.2845%
Total 1073 $351,446,953.44 100.0000%
b) The following table sets forth information, as of the Cut-off Date, with
respect to the original principal balances of the Mortgage Loans in Pool
1999-17 :
ORIGINAL # OF LOANS AGGREGATE BALANCES % OF POOL BY
BALANCES AS OF CUT-OFF DATE AGGREGATE BAL.
-------- ---------- ------------------ --------------
$ 0 - 240,000 61 $9,422,411.93 2.6810%
$240,001 - 250,000 44 $10,867,176.53 3.0921%
$250,001 - 300,000 406 $112,404,899.45 31.9835%
$300,001 - 350,000 247 $80,329,108.22 22.8567%
$350,001 - 400,000 145 $54,426,811.99 15.4865%
$400,001 - 450,000 69 $29,393,345.38 8.3635%
$450,001 - 600,000 81 $40,646,218.95 11.5654%
$600,001 - 650,000 13 $8,290,724.96 2.3590%
$650,001 - 1,000,000 + 7 $5,666,256.03 1.6123%
Total 1,073 $351,446,953.44 100.0000%
The largest outstanding Scheduled Principal Balance of any Mortgage Loan, as of
the Cut-off Date, in Pool 1999-17 is $1,000,000.00.
The smallest outstanding Scheduled Principal Balance of any Mortgage Loan, as of
the Cut-off Date, in Pool 1999-17 is $55,961.46.
c) The following table sets forth information, as of the Cut-off Date, with
respect to the years of origination of the Mortgage Loans in Pool 1999-17:
YEAR OF ORIGINATION # OF LOANS AGGREGATE BALANCES % OF POOL BY
AS OF CUT-OFF DATE AGGREGATE BALANCE
- ------------------- ---------- ------------------ -----------------
1993 1 $344,000.00 0.0979%
1996 1 $498,766.25 0.1419%
1998 17 $4,792,082.67 1.3635%
1999 1,054 $345,812,104.52 98.3967%
Total 1,073 $351,446,953.44 100.0000%
d) The following table sets forth information, as of the Cut-off Date, with
respect to the loan-to-value ratios of the Mortgage Loans at origination in
Pool 1999-17:
LOAN-TO-VALUE
RATIO AT # OF AGGREGATE BALANCES % OF POOL BY
ORIGINATION LOANS AS OF CUT-OFF DATE AGGREGATE BALANCE
- ----------- ----- ------------------ -----------------
00.000 - 50.00 46 $15,342,599.87 4.3656%
50.001 - 60.00 54 $17,989,279.72 5.1186%
60.001 - 70.00 137 $48,084,781.31 13.6819%
70.001 - 75.00 123 $43,513,539.17 12.3813%
75.001 - 80.00 527 $172,645,917.13 49.1243%
80.001 - 85.00 14 $4,659,078.84 1.3257%
85.001 - 90.00 102 $30,651,070.91 8.7214%
90.001 - 95.00 70 $18,560,686.49 5.2812%
Total 1,073 $351,446,953.44 100.0000%
e) The following table sets forth information, as of the Cut-off Date, with
respect to the type of Mortgaged Properties securing the Mortgage Loans in
Pool 1999-17:
TYPE OF DWELLING # OF LOANS AGGREGATE BALANCES % OF POOL BY
AS OF CUT-OFF DATE AGGREGATE BALANCE
- ---------------- ---------- ------------------ -----------------
Single-family detached 999 $327,976,081.80 93.3217%
Single-family attached 15 $4,661,600.31 1.3264%
Condominium 38 $11,800,819.48 3.3578%
2 - 4 Family Units 20 $6,733,892.99 1.9160%
Co-op 1 $274,558.86 0.0781%
Total 1,073 $351,446,953.44 100.0000%
f) The following table sets forth information, as of the Cut-off Date, with
respect to the occupancy status of the Mortgaged Properties securing the
Mortgage Loans as represented by the mortgagors at origination in Pool
1999-17:
# OF LOANS AGGREGATE BALANCES % OF POOL BY
OCCUPANCY AS OF CUT-OFF DATE AGGREGATE BALANCE
--------- ---------- ------------------ -----------------
Owner Occupied 1,041 $341,093,376.68 97.0540%
Vacation 21 $6,848,534.15 1.9487%
Investment 11 $3,505,042.61 0.9973%
Total 1,073 $351,446,953.44 100.0000%
g) The following table sets forth information, as of the Cut-off Date, with
respect to the geographic distribution of the Mortgaged Properties securing
the Mortgage Loans in Pool 1999-17:
STATE # OF LOANS AGGREGATE BALANCES % OF POOL BY
AS OF CUT-OFF DATE AGGREGATE BALANCE
- ----- ---------- ------------------ -----------------
Alabama 4 $1,265,201.51 0.3600%
Arizona 25 $8,000,532.44 2.2765%
California 532 $174,135,883.78 49.5484%
Colorado 23 $7,210,466.48 2.0516%
Connecticut 16 $6,115,525.29 1.7401%
Delaware 3 $1,021,217.26 0.2906%
District Of Columbia 4 $1,471,580.39 0.4187%
Florida 18 $5,740,465.68 1.6334%
Georgia 22 $6,677,723.56 1.9001%
Hawaii 4 $1,469,192.90 0.4180%
Idaho 1 $55,961.46 0.0159%
Illinois 39 $13,693,240.59 3.8962%
Indiana 2 $730,792.15 0.2079%
Iowa 1 $313,204.06 0.0891%
Kentucky 2 $726,988.79 0.2069%
Maryland 43 $14,380,889.71 4.0919%
Massachusetts 46 $14,807,445.46 4.2133%
Michigan 23 $8,258,448.75 2.3498%
Minnesota 4 $1,354,424.18 0.3854%
Mississippi 1 $294,781.07 0.0839%
Missouri 4 $1,403,754.84 0.3994%
Nebraska 1 $103,016.38 0.0293%
Nevada 12 $4,168,929.88 1.1862%
New Hampshire 3 $966,485.49 0.2750%
New Jersey 29 $9,020,036.37 2.5665%
New Mexico 3 $938,590.18 0.2671%
New York 22 $7,095,168.64 2.0188%
North Carolina 7 $2,490,865.27 0.7087%
Ohio 3 $988,717.71 0.2813%
Oklahoma 1 $470,860.91 0.1340%
Oregon 18 $5,693,126.26 1.6199%
Pennsylvania 14 $4,658,197.19 1.3254%
Rhode Island 2 $537,582.99 0.1530%
South Carolina 1 $649,505.40 0.1848%
Tennessee 5 $1,744,502.38 0.4964%
Texas 28 $8,523,265.23 2.4252%
Utah 5 $1,291,764.46 0.3676%
Virginia 46 $14,483,071.18 4.1210%
Washington 51 $16,638,606.00 4.7343%
Wisconsin 5 $1,856,941.17 0.5284%
Total 1,073 $351,446,953.44 100.0000%
h) The following table sets forth information, as of the Cut-off Date, with
respect to the maturity dates of the Mortgage Loans in Pool 1999-17:
YEAR OF MATURITY # OF LOANS AGGREGATE BALANCES % OF POOL BY
AS OF CUT-OFF DATE AGGREGATE BALANCE
- ---------------- ---------- ------------------ -----------------
2019 11 $3,233,341.31 0.9200%
2024 1 $281,000.00 0.0800%
2028 10 $2,553,759.11 0.7266%
2029 1,051 $345,378,853.02 98.2734%
Total 1,073 $351,446,953.44 100.0000%
The weighted average scheduled remaining term to maturity of the Mortgage Loans
in Pool 1999-17 calculated as of the Cut-off Date is 357.41 months.
i) The following table sets forth information, as of the Cut-off Date, with
respect to the purpose of the Mortgage Loans in Pool 1999-17:
# OF LOANS AGGREGATE BALANCES % OF POOL BY
PURPOSE OF LOAN AS OF CUT-OFF DATE AGGREGATE BALANCE
- --------------- ---------- ------------------ -----------------
Purchase 735 $240,273,034.27 68.3668%
Rate Term/Refinance 328 $108,131,066.38 30.7674%
Cash-out Refinance 10 $3,042,852.79 0.8658%
Total 1,073 $351,446,953.44 100.0000%
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
1.1 The Underwriting Agreement, dated as of March 21, 1996, and the
related Terms Agreement, dated as of August 25, 1999, for certain of
the Series 1999-17 Certificates between GE Capital Mortgage Services,
Inc. and Donaldson, Lufkin & Jenrette Securities Corporation.
1.2 The Underwriting Agreement, dated as of May 22, 1996, and the related
Terms Agreement, dated as of August 25, 1999, for certain of the
Series 1999-17 Certificates between GE Capital Mortgage Services, Inc.
and Lehman Brothers Inc.
4.1 The Pooling and Servicing Agreement for the Series 1999-17
Certificates, dated as of August 1, 1999, between GE Capital Mortgage
Services, Inc., as seller and servicer, and State Street Bank and
Trust Company, as trustee.
<PAGE>
SIGNATURES
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 thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By: /s/ Syed W. Ali
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of August 26, 1999
<PAGE>
SIGNATURES
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 thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By: /s/ Syed W. Ali
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of August 26, 1999
<PAGE>
EXHIBIT INDEX
The exhibits are being filed herewith:
EXHIBIT NO. DESCRIPTION PAGE
----------- ----------- ----
1.1 The Underwriting Agreement, dated as
of March 21, 1996, and the related
Terms Agreement, dated as of August
25, 1999, for certain of the Series
1999-17 Certificates between GE
Capital Mortgage Services, Inc. and
Donaldson, Lufkin & Jenrette
Securities Corporation.
1.2 The Underwriting Agreement, dated as
of May 22, 1996, and the related Terms
Agreement, dated as of August 25,
1999, for certain of the Series
1999-17 Certificates between GE
Capital Mortgage Services, Inc. and
Lehman Brothers Inc.
4.1 The Pooling and Servicing Agreement
for the Series 1999-17 Certificates,
dated as of August 1, 1999, between GE
Capital Mortgage Services, Inc., as
seller and servicer, and State Street
Bank and Trust Company, as trustee.
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Donaldson, Lufkin & Jenrette New York, New York
Securities Corporation March 21, 1996
277 Park Avenue
New York, New York 10172
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation organized and existing
under the laws of the State of New Jersey (the "Company"), may offer for sale to
you (the "Underwriter") from time to time its Pass-Through Certificates
evidencing interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each series, in one or
more classes, in one or more offerings on terms determined at the time of sale
(each such series, a "Series" and each such class, a "Class"). Each Series of
the Certificates will be issued under a separate Pooling and Servicing Agreement
(each, a "Pooling and Servicing Agreement") to be dated as of the respective
cut-off date (each, a "Cut-off Date") between the Company, as seller and
servicer, and State Street Bank and Trust Company, as trustee (the "Trustee").
Capitalized terms used but not defined herein shall have the meanings given to
them in the related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and Servicing Agreement will
represent the entire beneficial ownership interest in a trust fund (the "Trust
Fund") established by such Pooling and Servicing Agreement. The assets of each
Trust Fund will consist primarily of a pool of conventional, fixed rate, first
lien, fully amortizing, one- to four-family residential mortgage loans (the
"Mortgage Loans") having the original terms to maturity specified in the related
Terms Agreement referred to hereinbelow. If so specified in the related Terms
Agreement, one or more elections may be made to treat the assets of each Trust
Fund as a real estate mortgage investment conduit (each, a "REMIC") for federal
income tax purposes.
Whenever the Company determines to make an offering of Certificates (each,
a "Certificate Offering") pursuant to this Agreement through you, it will enter
into an agreement with you (the "Terms Agreement") providing for the sale of
specified Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such Certificate Offering
which the Company elects to make pursuant to this Agreement shall be governed by
this Agreement, as supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A hereto, shall
specify, among other things, the Classes of Certificates to be purchased by the
Underwriter (the "Offered Certificates"), the principal balance or balances of
the Offered Certificates, each subject to any stated variance, and the price or
prices at which such Offered Certificates are to be purchased by the Underwriter
from the Company.
1. Representations and Warranties. (a) The Company represents and warrants
to and agrees with the Underwriter, as of the date of the related Terms
Agreement, that:
(i) The registration statement specified in the related Terms
Agreement, on Form S-3, including a prospectus, has been filed with the
Securities and Exchange Commission (the "Commission") for the registration
under the Securities Act of 1933, as amended (the "Act"), of pass-through
certificates issuable in series, which registration statement has been
declared effective by the Commission. Such registration statement, as
amended to the date of the related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12 of Form S-3 under the
Act which were filed under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), on or before the effective date of the Registration
Statement, is hereinafter called the "Registration Statement," and such
prospectus, as such prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related Series, each in the
form first filed after the date of the related Terms Agreement pursuant to
Rule 424(b) under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3 under the Act which were
filed under the Exchange Act on or before the date of such Prospectus
Supplement (other than any such incorporated documents that relate to
Collateral Term Sheets (as defined herein)) (such prospectus supplement,
including such incorporated documents (other than those that relate to
Collateral Term Sheets), in the form first filed after the date of the
related Terms Agreement pursuant to Rule 424(b) is hereinafter called the
"Prospectus Supplement"), is hereinafter called the "Prospectus". Any
reference herein to the terms "amend," "amendment" or "supplement" with
respect to the Registration Statement, the Prospectus or the Prospectus
Supplement shall be deemed to refer to and include the filing of any
document under the Exchange Act after the effective date of the
Registration Statement or the issue date of the Prospectus or Prospectus
Supplement, as the case may be, deemed to be incorporated therein by
reference pursuant to Item 12 of Form S-3 under the Act.
(ii) The related Registration Statement, at the time it became
effective, and the prospectus contained therein, and any amendments thereof
and supplements thereto filed prior to the date of the related Terms
Agreement, conformed in all material respects to the requirements of the
Act and the rules and regulations of the Commission thereunder; on the date
of the related Terms Agreement and on each Closing Date (as defined in
Section 3 below), the related Registration Statement and the related
Prospectus, and any amendments thereof and supplements thereto, will
conform in all material respects to the requirements of the Act and the
rules and regulations of the Commission thereunder; such Registration
Statement, at the time it became effective, did not contain any untrue
statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein not
misleading; such Prospectus, on the date of any filing pursuant to Rule
424(b) and on each Closing Date, will not include any untrue statement of a
material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they are
made, not misleading; and the Detailed Description referred to in such
Prospectus, on each Closing Date and the date of any filing thereof under
cover of Form 8-K, will not include any untrue statement of a material fact
or omit to state any information which such Prospectus states will be
included in such Detailed Description; provided, however, that the Company
makes no representations or warranties as to the information contained in
or omitted from (A) such Registration Statement or such Prospectus (or any
supplement thereto) in reliance upon and in conformity with written
information furnished to the Company by or on behalf of the Underwriter
specifically for use in the preparation thereof or (B) any Current Report
(as defined in Section 5(b) below), or in any amendment thereof or
supplement thereto, incorporated by reference in such Registration
Statement or such Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related Series will conform to the
description thereof contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two highest rating categories
by a nationally recognized statistical rating organization, be when issued
a "mortgage related security" as such term is defined in Section 3(a)(41)
of the Exchange Act, and will each on the related Closing Date be duly and
validly authorized, and, when validly executed, countersigned, issued and
delivered in accordance with the related Pooling and Servicing Agreement
and sold to you as provided herein and in the related Terms Agreement, will
each be validly issued and outstanding and entitled to the benefits of the
related Pooling and Servicing Agreement.
(iv) Neither the issuance nor sale of the Certificates of the related
Series nor the consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof or of the related
Terms Agreement, will conflict with any statute, order or regulation
applicable to the Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over the Company or with
any organizational document of the Company or any instrument or any
agreement under which the Company is bound or to which it is a party.
(v) This Agreement and the related Terms Agreement have been duly
authorized, executed and delivered by the Company.
(vi) At or prior to the related Closing Date, the Company will have
entered into the related Pooling and Servicing Agreement and, assuming the
due authorization, execution and delivery thereof by the Trustee, such
Pooling and Servicing Agreement (on such Closing Date) will constitute the
valid and binding agreement of the Company enforceable in accordance with
its terms, subject as to enforceability, to bankruptcy, insolvency,
reorganization or other similar laws affecting creditors' rights and to
general principles of equity (regardless of whether the enforceability of
such Pooling and Servicing Agreement is considered in a proceeding in
equity or at law).
2. Purchase and Sale. Subject to the execution of the Terms Agreement for a
particular Certificate Offering and subject to the terms and conditions and in
reliance upon the representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the Underwriter, and the
Underwriter agrees to purchase from the Company, all, but not less than all, of
the related Offered Certificates at the purchase price therefor set forth in
such Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all securities sold pursuant
to this Agreement and the applicable Terms Agreement shall take place on the
settlement date agreed upon at the time of the related transaction and set forth
as the "Closing Date" in such Terms Agreement and not as set forth in Rule
15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for the Offered
Certificates of a Series shall be made at the offices of Cleary, Gottlieb, Steen
& Hamilton, New York, New York, at 10:00 A.M., New York City time, on the
Closing Date specified in the related Terms Agreement, which date and time may
be postponed by agreement between the Underwriter and the Company (such date and
time being herein called the "Closing Date"). Delivery of such Offered
Certificates shall be made to the Underwriter against payment by the Underwriter
of the Purchase Price thereof to or upon the order of the Company by wire
transfer in federal or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five full business
days prior to such Closing Date. Unless delivery is made through the facilities
of The Depository Trust Company, the Offered Certificates shall be registered in
such names and in such authorized denominations as the Underwriter may request
not less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least two business days
before each Closing Date of the exact principal balance evidenced by the Offered
Certificates and to have such Offered Certificates available for inspection,
checking and packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that the Underwriter
proposes to offer the Offered Certificates of the related Series for sale to the
public as set forth in the related Prospectus.
5. Agreements. The Company agrees with the Underwriter that:
(a) The Company will cause the Prospectus as supplemented by a
Prospectus Supplement relating to the Offered Certificates to be filed
pursuant to Rule 424 under the Act and will promptly advise the Underwriter
when such Prospectus as so supplemented has been so filed, and prior to the
termination of the Certificate Offering to which such Prospectus relates
also will promptly advise the Underwriter (i) when any amendment to the
related Registration Statement specifically relating to such Offered
Certificates shall have become effective or any further supplement to such
Prospectus has been filed, (ii) of any request by the Commission for any
amendment of such Registration Statement or Prospectus or for any
additional information, (iii) of the issuance by the Commission of any stop
order suspending the effectiveness of such Registration Statement or the
institution or threatening of any proceeding for that purpose and (iv) of
the receipt by the Company of any written notification with respect to the
suspension of the qualification of such Offered Certificates for sale in
any jurisdiction or the initiation or threatening of any proceeding for
such purpose. The Company will not file any amendment of the related
Registration Statement or supplement to the related Prospectus (other than
any amendment or supplement specifically relating to one or more Series of
pass-through certificates other than the Series that includes the related
Offered Certificates) unless the Company has furnished the Underwriter with
a copy for its review prior to filing. The Company will use its best
efforts to prevent the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational Materials and any
Structural Term Sheets (each as defined in Section 8 below) with respect to
the Offered Certificates of a Series that are delivered by the Underwriter
to the Company pursuant to Section 8 to be filed with the Commission on a
Current Report on Form 8-K (a "Current Report") pursuant to Rule 13a-11
under the Exchange Act on the business day immediately following the later
of (i) the day on which such Computational Materials and Structural Term
Sheets are delivered to counsel for the Company by the Underwriter prior to
10:30 a.m. and (ii) the date on which this Agreement is executed and
delivered. The Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates of a Series that
is delivered by the Underwriter to the Company in accordance with the
provisions of Section 9 to be filed with the Commission on a Current Report
pursuant to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term Sheet is
delivered to counsel for the Company by the Underwriter prior to 10:30 a.m.
In addition, if at any time prior to the availability of the related
Prospectus Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the reasonable judgment
of the Underwriter and the Company, a material change in the
characteristics of the Mortgage Loans for the related Series from those on
which a Collateral Term Sheet with respect to the related Series previously
filed with the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter to the Company
in accordance with the provisions of Section 9 to be filed with the
Commission on a Current Report on the business day immediately following
the day on which such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each case, the Company
will promptly advise the Underwriter when such Current Report has been so
filed. Each such Current Report shall be incorporated by reference in the
related Prospectus and the related Registration Statement. Notwithstanding
the five preceding sentences, the Company shall have no obligation to file
any materials provided by the Underwriter pursuant to Sections 8 and 9
which, in the reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not required to be
filed pursuant to the Kidder Letters or the PSA Letter (each as defined in
Section 8 below), or which contain erroneous information or contain any
untrue statement of a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the statements therein
not misleading; it being understood, however, that the Company shall have
no obligation to review or pass upon the accuracy or adequacy of, or to
correct, any Computational Materials, Structural Term Sheets or Collateral
Term Sheets provided by the Underwriter to the Company pursuant to Section
8 or Section 9 hereof.
(c) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act, any
event occurs as a result of which the related Prospectus as then amended or
supplemented would include any untrue statement of a material fact or omit
to state any material fact necessary to make the statements therein in
light of the circumstances under which they were made not misleading, or if
it shall be necessary at any time to amend or supplement the related
Prospectus to comply with the Act or the rules thereunder, the Company
promptly will prepare and file with the Commission, subject to paragraph
(a) of this Section 5, an amendment or supplement which will correct such
statement or omission or an amendment which will effect such compliance;
provided, however, that the Company will not be required to file any such
amendment or supplement with respect to any Computational Materials,
Structural Term Sheets or Collateral Term Sheets incorporated by reference
in the Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 8(d) hereof or any
amendments or supplements of such Collateral Term Sheets that are furnished
to the Company by the Underwriter pursuant to Section 9(d) hereof which the
Company determines to file in accordance therewith.
(d) The Company will furnish to the Underwriter and counsel for the
Underwriter, without charge, as many signed copies of the related
Registration Statement (including exhibits thereto) and, so long as
delivery of a prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any supplements
thereto (other than exhibits to the related Current Report) as the
Underwriter may reasonably request.
(e) The Company will furnish such information, execute such
instruments and take such actions as may be reasonably requested by the
Underwriter to qualify the Offered Certificates of a Series for sale under
the laws of such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required for the
distribution of such Offered Certificates and to determine the legality of
such Offered Certificates for purchase by institutional investors;
provided, however, that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on the date of the
related Terms Agreement or to take any action which would subject it to
general or unlimited service of process in any jurisdiction in which it is
not, on the date of the related Terms Agreement, subject to such service of
process.
(f) So long as the Offered Certificates of a Series are outstanding,
the Company will furnish to the Underwriter copies of the annual
independent public accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and Servicing Agreement.
(g) Whether or not the transactions contemplated hereby and by the
related Terms Agreement shall be consummated, the Company shall be
responsible for the payment of any costs and expenses for which details are
submitted, in connection with the performance of its obligations under this
Agreement and the related Terms Agreement, including, without limitation,
(a) the cost and expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement and the Offered
Certificates, and (b) the cost of delivering the related Offered
Certificates to the office of the Underwriter, insured to the satisfaction
of the Underwriter (it being understood that, except as provided in this
paragraph (f) and in Section 7 hereof, the Underwriter will pay all its own
costs and expenses, including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered Certificates by it,
advertising expenses connected with any offers that it may make, the fees
of KPMG Peat Marwick LLP with respect to its letters furnished pursuant to
Section 6(i) of the Agreement and any letter furnished pursuant to the last
sentence of Section 6(h) hereof and any other costs and expenses specified
in the related Terms Agreement as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter. The obligations of the
Underwriter to purchase the Offered Certificates of any Series shall be subject
to the accuracy in all material respects of the representations and warranties
on the part of the Company contained in this Agreement, as supplemented by the
related Terms Agreement, as of the respective dates thereof and the related
Closing Date, to the accuracy of the statements of the Company made in any
applicable officers' certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this Agreement and such
Terms Agreement and to the following additional conditions applicable to the
related Certificate Offering:
(a) No stop order suspending the effectiveness of the related
Registration Statement shall have been issued and no proceedings for that
purpose shall have been instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel for the Company, shall
have furnished to the Underwriter an opinion, dated the related Closing
Date, to the effect that:
(i) this Agreement and the related Terms Agreement have been duly
executed and delivered by the Company under the law of the State of
New York;
(ii) the related Pooling and Servicing Agreement has been duly
executed and delivered by the Company under the law of the State of
New York and is a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its terms;
(iii) the Offered Certificates, when duly executed and
countersigned by the Trustee in accordance with the related Pooling
and Servicing Agreement, will be validly issued and outstanding and
entitled to the benefits of such Pooling and Servicing Agreement;
(iv) the related Pooling and Servicing Agreement is not required
to be qualified under the Trust Indenture Act of 1939, as amended, and
the trust created thereunder is not required to be registered under
the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based solely upon telephone
confirmation from a representative of the Commission) the related
Registration Statement is effective under the Act and, to the best of
such counsel's knowledge, no stop order with respect thereto has been
issued, and no proceeding for that purpose has been instituted or
threatened by the Commission; such Registration Statement (except the
financial statements and schedules and other financial and statistical
data included therein and the documents incorporated by reference
therein, as to which such counsel need express no view), at the time
it became effective and the related Prospectus (except the financial
statements and schedules and the other financial and statistical data
included therein, the documents incorporated by reference therein and
the information included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate paragraph, and the
last paragraph of the cover page of such Prospectus Supplement and in
the second and fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which such counsel need
express no view), as of the date of the Prospectus Supplement appeared
on their face to be appropriately responsive in all material respects
to the requirements of the Act and the rules and regulations
thereunder; and no information has come to the attention of such
counsel that causes it to believe that (A) such Registration Statement
(except the financial statements and schedules and the other financial
and statistical data included therein and the documents incorporated
by reference therein, as to which such counsel need express no view)
at the time it became effective, contained an untrue statement of a
material fact or omitted to state a material fact required to be
stated therein or necessary to make the statements therein not
misleading or (B) such Prospectus or any amendment or supplement
thereto (except the financial statements and schedules and the other
financial and statistical data included therein, the documents
incorporated by reference therein and the information included in the
second sentence of the antepenultimate paragraph, the first sentence
of the penultimate paragraph, and the last paragraph of the cover page
of such Prospectus Supplement and in the second and fourth sentences
of the first paragraph under the heading "Plan of Distribution"
therein, as to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related Closing Date,
contained or contains an untrue statement of a material fact or
omitted or omits to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which
they were made, not misleading;
(vi) the statements set forth under the heading "Description of
the Certificates" in the related Prospectus, insofar as such
statements purport to summarize certain provisions of the related
Pooling and Servicing Agreement and the related Offered Certificates,
provide a fair summary of such provisions;
(vii) the statements set forth in the related Prospectus under
the headings "Certain Legal Aspects of the Mortgage Loans and
Contracts -- The Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to the purchase,
ownership and disposition of the related Offered Certificates) and
"ERISA Considerations" (insofar as they relate specifically to the
purchase, ownership and disposition of such Offered Certificates), to
the extent that they constitute matters of law or legal conclusions,
provide a fair summary of such law or conclusions;
(viii) assuming compliance with all provisions of the related
Pooling and Servicing Agreement, for federal income tax purposes, (A)
if any election is made to treat the assets of the Trust Fund as a
REMIC: the related Trust Fund (and any specified subgrouping therein)
will qualify as a REMIC pursuant to Section 860D of the Internal
Revenue Code of 1986, as amended (the "Code"), each Class of
Certificates of the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular interests" in
the related REMIC within the meaning of the Code, and each Class of
such Certificates specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual interest" in the
related REMIC within the meaning of the Code; (B) if no such REMIC
election is made: the Trust Fund will be treated as a "grantor trust";
and
(ix) assuming that some or all of the Offered Certificates of the
related Series shall be rated at the time of issuance in one of the
two highest rating categories by a nationally recognized statistical
rating organization, each Offered Certificate so rated will be at the
time of issuance, a "mortgage related security" as such term is
defined in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters on the
representations and warranties made by, and on certificates or other documents
furnished by, officers of the parties to this Agreement, the related Terms
Agreement or the related Pooling and Servicing Agreement. Such opinion may
assume the due authorization, execution and delivery of the instruments and
documents referred to therein by the parties thereto other than the Company.
Such opinion may be qualified, insofar as it concerns the enforceability of the
documents referred to therein, to the extent that such enforceability may be
limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors' rights in general and by general equity
principles (regardless of whether such enforcement is considered in a proceeding
in equity or at law). Such opinion may be further qualified as expressing no
opinion as to (x) the statements in the related Prospectus under the heading
"Certain Legal Aspects of the Mortgage Loans and Contracts -- The Mortgage
Loans" except insofar as such statements relate to the laws of the State of New
York and the laws of the United States, and (y) the statements in such
Prospectus under the headings "ERISA Considerations" and "Certain Federal Income
Tax Consequences" except insofar as such statements relate to the laws of the
United States. In addition, such opinion may be qualified as an opinion only on
the laws of the State of New York and the federal laws of the United States of
America.
(c) The General Counsel for the Company shall have furnished to the
Underwriter an opinion, dated the related Closing Date, to the effect that:
(i) The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the State
of New Jersey, with corporate power to own its properties, to conduct
its business as described in the related Prospectus and to enter into
and perform its obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement and the
Certificates of the related Series;
(ii) The Company has full power and authority to sell and service
the related Mortgage Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
(iii) No consent, approval, authorization or order of any court
or governmental agency or body is required for the consummation by the
Company of the transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be required under
the blue sky laws of any jurisdiction and such other approvals as have
been obtained;
(iv) Neither the issuance of the Certificates of the related
Series nor delivery of the related Offered Certificates, nor the
consummation of any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related Pooling and
Servicing Agreement, nor the fulfillment of the terms of the related
Certificates, the related Pooling and Servicing Agreement, this
Agreement or the related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation or by-laws of
the Company or any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative agency or
governmental body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the acceleration of
or constitute a default under the terms of any indenture or other
agreement or instrument known to such counsel to which the Company is
a party or by which it is bound; and
(v) There are no actions, proceedings or investigations pending
or, to the best knowledge of such counsel, threatened before any
court, administrative agency or other tribunal (i) asserting the
invalidity of this Agreement, the related Terms Agreement, the related
Pooling and Servicing Agreement or the related Certificates, (ii)
seeking to prevent the issuance of the Certificates of the related
Series or the consummation by the Company of any of the transactions
contemplated by this Agreement, such Terms Agreement or such Pooling
and Servicing Agreement, or (iii) which might materially and adversely
affect the performance by the Company of its obligations under, or the
validity or enforceability of, this Agreement, such Terms Agreement,
such Pooling and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to matters of fact, to the
extent deemed proper and as stated therein, on certificates of responsible
officers of the Company or public officials. In addition, such opinion may be
qualified as an opinion only on the laws of the State of New Jersey.
(d) The Underwriter shall have received from Brown & Wood, counsel for
the Underwriter, such opinion or opinions, dated the related Closing Date,
with respect to the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related Prospectus and such
other related matters as the Underwriter may reasonably require, and the
Company shall have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of enabling them to pass
upon such matters.
(e) The Company shall have furnished to the Underwriter a certificate
of the Company, signed by the President or any Vice President and the
Senior Vice President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to the effect that
the signers of such certificate have carefully examined the related
Registration Statement (excluding any Current Reports and any other
documents incorporated by reference therein), the related Prospectus, the
Detailed Description referred to in such Prospectus (excluding any related
Current Report), this Agreement and the related Terms Agreement and that:
(i) the representations and warranties of the Company in this
Agreement are true and correct in all material respects on and as of
the related Closing Date with the same effect as if made on such
Closing Date, and the Company has complied with all the agreements and
satisfied all the conditions on its part to be performed or satisfied
at or prior to such Closing Date;
(ii) no stop order suspending the effectiveness of such
Registration Statement has been issued and no proceedings for that
purpose have been instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention that would lead them to
believe that such Registration Statement (excluding any Current
Report) contains any untrue statement of a material fact or omits to
state any material fact required to be stated therein or necessary to
make the statements therein not misleading, that the related
Prospectus (excluding any related Current Report) contains any untrue
statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made,
not misleading, or that the Detailed Description referred to in such
Prospectus includes any untrue statement of a material fact or omits
to state any information which the Prospectus states will be included
in such Detailed Description.
(f) Peabody & Arnold, counsel for the Trustee, shall have furnished to
the Underwriter an opinion, dated the related Closing Date, to the effect
that:
(i) the Trustee has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the
Commonwealth of Massachusetts with corporate power to own its
properties and conduct its business as presently conducted by it, to
conduct business as a trustee and to enter into and perform its
obligations under the related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing Agreement has been duly
authorized, executed and delivered by the Trustee and constitutes the
legal, valid and binding agreement of the Trustee enforceable against
the Trustee in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent conveyance, reorganization or other similar
laws affecting the enforcement of creditors' rights generally and to
judicial discretion, and general principles of equity (regardless of
whether enforcement is sought in a proceeding in equity or at law);
(iii) the Trustee has duly accepted its appointment as trustee
under the related Pooling and Servicing Agreement;
(iv) no consent, approval, authorization or order of any
Massachusetts or federal court or government agency or body is
required on the part of the Trustee for the consummation of the
transactions contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any federal or state
securities law; and
(v) the performance on the part of the Trustee of any of the
transactions contemplated in the related Pooling and Servicing
Agreement does not conflict with or result in a breach or violation of
any term or provision of, or constitute a default under, the Articles
of Organization, as amended, or By-Laws of the Trustee, or any
Massachusetts or federal statute or regulation applicable to the
Trustee, or to such counsel's knowledge, any indenture or other
agreement or instrument to which the Trustee is a party or by which it
is bound, or, to such counsel's knowledge, any order of any state or
federal court, regulatory body, administrative agency or governmental
body having jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter such opinions as to
the treatment of the Trust Fund for purposes of Massachusetts tax law as are
reasonably satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to the Underwriter a
letter, dated as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which they have
determined that such information as the Underwriter may reasonably request
of an accounting, financial or statistical nature (which is limited to
accounting, financial or statistical information derived from the general
accounting records of the Company) set forth in the related Prospectus
Supplement under the caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company, excluding any
questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to the Underwriter a
letter, dated as of the related Closing Date, in form and substance
satisfactory to the Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have determined that
such information as the Underwriter may reasonably request of an
accounting, financial or statistical nature (which is limited to
accounting, financial or statistical information derived from the general
accounting records of the Company and which is obtained from an analysis of
a sample of the Mortgage Loans included in the related pool) set forth in
the related Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description of the Mortgage
Pools and the Mortgaged Properties", as the case may be, and in the
Detailed Description relating to such Prospectus Supplement is mutually
consistent and agrees with the accounting records of the Company and, where
applicable, the related Mortgage Loan files of the Company, excluding any
questions of legal interpretation. In addition, if applicable, such
accountants shall have furnished to the Underwriter a letter, dated as of
the related Closing Date, which shall include a statement or statements to
the effect that based upon the assumptions and methodology agreed to by the
Company (and which is consistent with the manner in which any final PAC
Balances, TAC Balances, Scheduled Balances, Maximum and Minimum Scheduled
Balances or any other scheduled balances are to be calculated as set forth
in the related Prospectus), all of which shall be described by reference in
such letter, such accountants shall have verified the mathematical accuracy
of any final PAC Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other scheduled
balances table attached as an exhibit to the related Pooling and Servicing
Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to the Underwriter and
the Company a letter or letters, dated as of the date of the related Terms
Agreement, in form and substance satisfactory to the Underwriter and the
Company, including, without limitation, statements, if applicable, to the
effect that:
(i) based upon the assumptions and methodology set forth in the
related Prospectus, all of which shall be described by reference in
such letter, they recomputed the percentages of initial principal
balance outstanding as of each of the Distribution Dates (as defined
in such Prospectus) indicated and the weighted average lives of each
Class of Offered Certificates at each of the indicated percentages of
the applicable Prepayment Assumption, and they compared the recomputed
percentages and weighted average lives to the corresponding
percentages and weighted average lives set forth in the related tables
and found them to be in agreement;
(ii) based upon the assumptions and methodology set forth in such
Prospectus, all of which shall be described by reference in such
letter, they have verified the mathematical accuracy of any Scheduled
Final Distribution Dates for the Offered Certificates, PAC Balances,
TAC Balances, Scheduled Balances, Maximum and Minimum Scheduled
Balances or any other scheduled balances set forth in such Prospectus
for each indicated Distribution Date, and have verified the
mathematical accuracy of any initial Effective Ranges of any PAC
Certificates, Scheduled Certificates or other scheduled Certificates
set forth in such Prospectus; and
(iii) based upon the assumptions and methodology set forth in
such Prospectus, all of which shall be described by reference in such
letter, they have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash flows of any
Class of Certificates for which such pre-tax yields and, if
applicable, aggregate cash flows are set forth in such Prospectus at
the indicated percentages of the Prepayment Assumption and, if
applicable, at the indicated values of COFI, LIBOR or any other index,
as applicable.
(j) The Offered Certificates of the related Series shall have received
the ratings specified in the related Terms Agreement (the "Required
Ratings").
(k) Prior to the related Closing Date, the Company shall have
furnished to the Underwriter such further information, certificates and
documents as the Underwriter may reasonably request.
(l) If any Certificates of the related Series are to be sold to any
other underwriter and/or offered in reliance upon an exemption from the
registration requirements of the Act, the sale at or prior to the related
Closing Date of such Certificates to the purchaser thereof shall have
occurred.
(m) Subsequent to the date of the related Terms Agreement, there shall
not have been any change, or any development involving a prospective
change, in or affecting the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation with the Company,
materially impairs the investment quality of the Offered Certificates of
the related Series so as to make it impractical or inadvisable to proceed
with the public offering or the delivery of such Offered Certificates as
contemplated by the related Prospectus.
If any of the conditions specified in this Section 6 shall not have been
fulfilled in all material respects with respect to the particular Offered
Certificates of a Series when and as provided in this Agreement and the related
Terms Agreement, or if any of the opinions and certificates mentioned above or
elsewhere in this Agreement and the related Terms Agreement shall not be in all
material respects reasonably satisfactory in form and substance to the
Underwriter and its counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations of the
Underwriter hereunder (with respect to the related Offered Certificates) and
thereunder may be canceled at, or at any time prior to, the related Closing Date
by the Underwriter. Notice of such cancellation shall be given to the Company in
writing, or by telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company agrees to indemnify
and hold harmless the Underwriter and each person who controls the Underwriter
within the meaning of the Act or the Exchange Act against any and all losses,
claims, damages or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other Federal or state
statutory law or regulation, at common law or otherwise, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the Offered
Certificates of the applicable Series as it became effective or in any amendment
or supplement thereof, or in such Registration Statement or the related
Prospectus, or in any amendment thereof, or in the Detailed Description referred
to in such Prospectus or arise out of or are based upon the omission or alleged
omission (in the case of any Computational Materials and ABS Term Sheets (as
defined in Section 9 below) in respect of which the Company agrees to indemnify
the Underwriter, as set forth below, when such are read in conjunction with the
related Prospectus and Prospectus Supplement) to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and agrees to reimburse each such indemnified party for any legal or
other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that (i) the Company will not be liable in any such case to the extent that any
such loss, claim, damage or liability arises out of or is based upon any such
untrue statement or alleged untrue statement or omission or alleged omission
made therein (A) in reliance upon and in conformity with written information
furnished to the Company as herein stated by or on behalf of the Underwriter
specifically for use in connection with the preparation thereof or (B) in any
Current Report or any amendment or supplement thereof, except to the extent that
any untrue statement or alleged untrue statement therein or omission therefrom
results (or is alleged to have resulted) directly from an error (a "Mortgage
Pool Error") in the information concerning the characteristics of the Mortgage
Loans furnished by the Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any Computational
Materials or ABS Term Sheets (or amendments or supplements thereof) included in
such Current Report (or amendment or supplement thereof) or (y) any written or
electronic materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were based, (ii) such
indemnity with respect to any Corrected Statement (as defined below) in such
Prospectus (or supplement thereto) shall not inure to the benefit of the
Underwriter (or any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the Certificates of the
related Series that are the subject thereof if such person did not receive a
copy of a supplement to such Prospectus at or prior to the confirmation of the
sale of such Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was corrected (a
"Corrected Statement") in such other supplement and such supplement was
furnished by the Company to the Underwriter prior to the delivery of such
confirmation, and (iii) such indemnity with respect to any Mortgage Pool Error
shall not inure to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim, damage or liability
received any Computational Materials or ABS Term Sheets (or any written or
electronic materials on which the Computational Materials are based) that were
prepared on the basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such person, the
Company notified the Underwriter in writing of the Mortgage Pool Error or
provided in written or electronic form information superseding or correcting
such Mortgage Pool Error (in any such case, a "Corrected Mortgage Pool Error"),
and the Underwriter failed to notify such person thereof or to deliver to such
person corrected Computational Materials (or underlying written or electronic
materials) or ABS Term Sheets. This indemnity agreement will be in addition to
any liability which the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold harmless the Company,
each of its directors, each of its officers who signs the Registration
Statement relating to the Offered Certificates of the applicable Series,
and each person who controls the Company within the meaning of the Act or
the Exchange Act to the same extent as the foregoing indemnities from the
Company to the Underwriter, but only with reference to (A) written
information furnished to the Company by or on behalf of the Underwriter
specifically for use in the preparation of the documents referred to in the
foregoing indemnity with respect to the related Series, or (B) any
Computational Materials or ABS Term Sheets (or amendments or supplements
thereof) furnished to the Company by the Underwriter pursuant to Section 8
or Section 9 and incorporated by reference in such Registration Statement
or the related Prospectus or any amendment or supplement thereof (except
that no such indemnity shall be available for any losses, claims, damages
or liabilities, or actions in respect thereof resulting from any Mortgage
Pool Error, other than a Corrected Mortgage Pool Error). This indemnity
agreement will be in addition to any liability which the Underwriter may
otherwise have. The Company acknowledges that the statements set forth in
the second sentence of the ante-penultimate paragraph, the first sentence
of the penultimate paragraph, and in the last paragraph appearing on the
cover page of the related Prospectus Supplement as such statements relate
to such Offered Certificates and the second sentence of the first paragraph
under the heading "Plan of Distribution" in such Prospectus Supplement as
such statements relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the Underwriter for
inclusion in the related Prospectus (other than any Computational Materials
or ABS Term Sheets (or amendments or supplements thereof) furnished to the
Company by the Underwriter), and the Underwriter confirms that such
statements are correct.
(c) Promptly after receipt by an indemnified party under Section 7 of
notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under
this Section 7, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party
will not relieve it from any liability which it may have to any indemnified
party otherwise than under this Section 7. In case any such action is
brought against any indemnified party, and it notifies the indemnifying
party of the commencement thereof, the indemnifying party will be entitled
to participate therein, and to the extent that it may elect by written
notice delivered to the indemnified party promptly after receiving the
aforesaid notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party; provided,
however, that if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnified party
shall have reasonably concluded that there may be legal defenses available
to it and/or other indemnified parties which are different from or
additional to those available to the indemnifying party, the indemnified
party or parties shall have the right to select separate counsel to assert
such legal defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon receipt of
notice from the indemnifying party to such indemnified party of its
election so to assume the defense of such action and approval by the
indemnified party of counsel, the indemnifying party will not be liable to
such indemnified party under this Section 7 for any legal or other expenses
subsequently incurred by such indemnified party in connection with the
defense thereof unless (i) the indemnified party shall have employed
separate counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it being
understood, however, that the indemnifying party shall not be liable for
the expenses of more than one separate counsel approved by the indemnified
party in the case of subparagraph (a) or (b), representing the indemnified
parties under subparagraph (a) or (b), who are parties to such action),
(ii) the indemnifying party shall not have employed counsel satisfactory to
the indemnified party to represent the indemnified party within a
reasonable time after notice of commencement of the action or (iii) the
indemnifying party has authorized the employment of counsel for the
indemnified party at the expense of the indemnifying party; and except
that, if clause (i) or (iii) is applicable, such liability shall be only in
respect of the counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph (a) or (b) of
this Section 7 is due in accordance with its terms but is for any reason
held by a court to be unavailable from the Company or the Underwriter, on
grounds of policy or otherwise, or if the indemnified party failed to give
notice under paragraph (c) of this Section 7 in respect of a claim
otherwise subject to indemnification in accordance with paragraph (a) or
(b) of this Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including legal and
other expenses reasonably incurred in connection with investigating or
defending same) to which the Company and the Underwriter may be subject, as
follows:
(i) in the case of any losses, claims, damages and liabilities
(or actions in respect thereof) which do not arise out of or are not
based upon any untrue statement or omission of a material fact in any
Computational Materials or ABS Term Sheets (or any amendments or
supplements thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference between the
proceeds to the Company in respect of the Offered Certificates
appearing on the cover page of the Prospectus Supplement for the
related Series and the total proceeds received by the Underwriter from
the sale of such Offered Certificates (the "Underwriting Discount"),
and the Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under this
subparagraph (i) for any amount in excess of such Underwriting
Discount applicable to the Offered Certificates purchased by the
Underwriter pursuant to this Agreement and the related Terms
Agreement; and
(ii) in the case of any losses, claims, damages and liabilities
(or actions in respect thereof) which arise out of or are based upon
any untrue statement or omission of a material fact in any
Computational Materials or ABS Term Sheets (or any amendments or
supplements thereof) or in any written or electronic materials on
which the Computational Materials are based, in such proportion as is
appropriate to reflect the relative fault of the Company on the one
hand and the Underwriter on the other in connection with the
statements or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof) as well as any other
relevant equitable considerations. The relative fault shall be
determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact in such Computational Materials or
ABS Term Sheets (or any amendments or supplements thereof or such
written or electronic materials) results from information prepared by
the Company on the one hand or the Underwriter on the other and the
parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 7, each person who
controls the Underwriter within the meaning of either the Act or the Exchange
Act shall have the same rights to contribution as the Underwriter, and each
person who controls the Company within the meaning of either the Act or the
Exchange Act, each officer of the Company who shall have signed the Registration
Statement and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the immediately preceding
sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets. (a) Not later than
10:30 a.m., New York time, on the business day before the date on which the
Current Report relating to the Offered Certificates of a Series is required to
be filed by the Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of all materials
provided by the Underwriter to prospective investors in such Offered
Certificates which constitute (i) "Computational Materials" within the meaning
of the no-action letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance Corporation I, Kidder,
Peabody & Co. Incorporated, and Kidder Structured Asset Corporation and the
no-action letter dated May 27, 1994 issued by the Division of Corporation
Finance of the Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of the relief
granted in such letter (such materials being the "Computational Materials"), and
(ii) "Structural Term Sheets" within the meaning of the no-action letter dated
February 17, 1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA Letter"), the filing
of which material is a condition of the relief granted in such letter (such
materials being the "Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to this paragraph
(a) shall be effected by delivering four copies of such materials to counsel for
the Company on behalf of the Company at the address specified in Section 3
hereof and one copy of such materials to the Company.
(b) The Underwriter represents and warrants to and agrees with the
Company, as of the date of the related Terms Agreement and as of the
Closing Date, that:
(i) the Computational Materials furnished to the Company pursuant
to Section 8(a) constitute (either in original, aggregated or
consolidated form) all of the materials furnished to prospective
investors by the Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the Commission with
respect to the related Offered Certificates in accordance with the
Kidder Letters, and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the Company pursuant
to Section 8(a) constitute all of the materials furnished to
prospective investors by the Underwriter prior to the time of delivery
thereof to the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and such
Structural Term Sheets comply with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials or Structural
Term Sheets with respect to such Offered Certificates (or any written
or electronic materials furnished to prospective investors on which
the Computational Materials are based) were last furnished to each
prospective investor and on the date of delivery thereof to the
Company pursuant to Section 8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or Structural Term
Sheets did not and will not include any untrue statement of a material
fact or, when read in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact required to be
stated therein or necessary to make the statements therein not
misleading;
(iv) the Underwriter has not represented to any prospective
investor that any Computational Materials or Structural Term Sheets
with respect to any Series were prepared or disseminated on behalf of
the Company, and, from and after January 26, 1996, all Computational
Materials and Structural Term Sheets furnished to prospective
investors (and all written and electronic materials furnished to
prospective investors on which the Computational Materials are based)
included a disclaimer to the effect set forth in Section 8(c); and
(v) at the time any Computational Materials (or any written or
electronic materials furnished to prospective investors on which the
Computational Materials are based) with respect to such Offered
Certificates were furnished to a prospective investor and on the date
of the related Terms Agreement, the Underwriter possessed, and on the
date of delivery of such materials to the Company pursuant to this
Section 8 and on the related Closing Date, the Underwriter will
possess, the capability, knowledge, expertise, resources and systems
of internal control necessary to ensure that such Computational
Materials conform to the representations and warranties of the
Underwriter contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no representation or
warranty as to whether any Computational Materials or Structural Term Sheets (or
any written or electronic materials on which the Computational Materials are
based) included or will include any untrue statement resulting directly from any
Mortgage Pool Error (except any Corrected Mortgage Pool Error, with respect to
materials prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials superseding or
correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that the Company has not
authorized and will not authorize the distribution of any Computational
Materials (or any written or electronic materials on which the
Computational Materials are based) or Structural Term Sheets to any
prospective investor, and agrees that any Computational Materials or
Structural Term Sheets with respect to any Series of Certificates furnished
to prospective investors from and after the date hereof shall include a
disclaimer in form satisfactory to the Company to the effect that such
materials have been prepared and disseminated solely by and on behalf of
the Underwriter, and that the Company has not reviewed or participated in
the preparation or dissemination of such materials and is not responsible
for the contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational Materials or
Structural Term Sheets were prepared or disseminated on behalf of the
Company.
(d) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act, it
shall be necessary to amend or supplement the related Prospectus as a
result of an untrue statement of a material fact contained in any
Computational Materials or Structural Term Sheets provided by the
Underwriter pursuant to this Section 8 or the omission to state therein a
material fact required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or necessary to
make the statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it shall be
necessary to amend or supplement any Current Report relating to any
Computational Materials or Structural Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and furnish to
the Company for filing with the Commission an amendment or supplement which
will correct such statement or omission or an amendment which will effect
such compliance. The Underwriter represents and warrants to the Company, as
of the date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue statement of
a material fact or, when read in conjunction with the related Prospectus
and Prospectus Supplement, omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading.
The Company shall have no obligation to file such amendment or supplement
if the Company determines that (i) such amendment or supplement contains
any untrue statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the statements
therein not misleading; it being understood, however, that the Company
shall have no obligation to review or pass upon the accuracy or adequacy
of, or to correct, any such amendment or supplement provided by the
Underwriter to the Company pursuant to this paragraph (e) or (ii) such
filing is not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery of any
"Collateral Term Sheet" within the meaning of the PSA Letter, the filing of
which material is a condition of the relief granted in such letter (such
material being the "Collateral Term Sheets"), to a prospective investor in
any Offered Certificates, the Underwriter shall, in order to facilitate the
timely filing of such material with the Commission, notify the Company and
its counsel by telephone of its intention to deliver such materials and the
approximate date on which the first such delivery of such materials is
expected to occur. Not later than 10:30 a.m., New York time, on the
business day immediately following the date on which any Collateral Term
Sheet was first delivered to a prospective investor in such Offered
Certificates, the Underwriter shall deliver to the Company five complete
copies of all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute "Collateral Term
Sheets." Each delivery of a Collateral Term Sheet to the Company pursuant
to this paragraph (a) shall be effected by delivering four copies of such
materials to counsel for the Company on behalf of the Company at the
address specified in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are, together,
referred to herein as "ABS Term Sheets.") At the time of each such
delivery, the Underwriter shall indicate in writing that the materials
being delivered constitute Collateral Term Sheets, and, if there has been
any prior such delivery with respect to the related Series, shall indicate
whether such materials differ in any material respect from any Collateral
Term Sheets previously delivered to the Company with respect to such Series
pursuant to this Section 9(a) as a result of the occurrence of a material
change in the characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and agrees with the
Company as of the date of the related Terms Agreement and as of the Closing
Date, that:
(i) The Collateral Term Sheets furnished to the Company pursuant
to Section 9(a) constitute all of the materials furnished to
prospective investors by the Underwriter prior to time of delivery
thereof to the Company that are required to be filed with the
Commission as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and such
Collateral Term Sheets comply with the requirements of the PSA Letter;
(ii) On the date any such Collateral Term Sheets with respect to
such Offered Certificates were last furnished to each prospective
investor and on the date of delivery thereof to the Company pursuant
to Section 9(a) and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of a material
fact or, when read in conjunction with the Prospectus and Prospectus
Supplement, omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading;
and
(iii) the Underwriter has not represented to any prospective
investor that any Collateral Term Sheets with respect to any Series
were prepared or disseminated on behalf of the Company, and, except as
otherwise disclosed by the Underwriter to the Company in writing prior
to the date hereof, all Collateral Term Sheets previously furnished to
prospective investors included a disclaimer to the effect set forth in
Section 8(c).
Notwithstanding the foregoing, the Underwriter makes no representation or
warranty as to whether any Collateral Term Sheet included or will include any
untrue statement or material omission resulting directly from any Mortgage Pool
Error (except any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of notice of such
Corrected Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any Collateral Term
Sheets with respect to any Series of Certificates furnished to prospective
investors from and after the date hereof shall include a disclaimer in form
satisfactory to the Company to the effect set forth in Section 8(c) hereof,
and to the effect that the information contained in such materials
supersedes the information contained in any prior Collateral Term Sheet
with respect to such Series of Offered Certificates and will be superseded
by the description of the related Mortgage Loans in the related Prospectus
Supplement and in the Detailed Description relating to such Prospectus
Supplement to be filed under cover of Form 8-K. The Underwriter agrees that
it will not represent to prospective investors that any Collateral Term
Sheets were prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act, it
shall be necessary to amend or supplement the related Prospectus as a
result of an untrue statement of a material fact contained in any
Collateral Term Sheets provided by the Underwriter pursuant to this Section
9 or the omission to state therein a material fact required, when
considered in conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the statements
therein, when read in conjunction with the related Prospectus and
Prospectus Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Collateral Term Sheets to
comply with the Act or the rules thereunder, the Underwriter promptly will
prepare and furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or omission or an
amendment which will effect such compliance. The Underwriter represents and
warrants to the Company, as of the date of delivery of such amendment or
supplement to the Company, that such amendment or supplement will not
include any untrue statement of a material fact or, when read in
conjunction with the related Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that the
Underwriter makes no representation or warranty as to whether any such
amendment or supplement will include any untrue statement resulting
directly from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to any such amendment or supplement prepared after the
receipt by the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such Corrected
Mortgage Pool Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such amendment
or supplement contains any untrue statement of a material fact or, when
read in conjunction with the related Prospectus and Prospectus Supplement,
omits to state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being understood,
however, that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to this
paragraph (d) or (ii) such filing is not required under the Act.
10. Termination. This Agreement (with respect to a particular Certificate
Offering) and the related Terms Agreement shall be subject to termination in the
absolute discretion of the Underwriter, by notice given to the Company prior to
delivery of and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the New York Stock
Exchange shall have been suspended or materially limited, (ii) a general
moratorium on commercial banking activities in New York shall have been declared
by either federal or New York State authorities, or (iii) there shall have
occurred any outbreak or material escalation of hostilities or other calamity or
crisis the effect of which on the financial markets of the United States is such
as to make it, in the reasonable judgment of the Underwriter, impracticable to
market such Offered Certificates.
11. Representations and Indemnities to Survive Delivery. The agreements,
representations, warranties, indemnities and other statements of the Company or
its officers and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full force and effect,
regardless of any investigation made by or on behalf of the Underwriter or the
Company or any of the officers, directors or controlling persons referred to in
Section 7 hereof, and will survive delivery of and payment for the related
Offered Certificates. The provisions of Section 7 hereof shall survive the
termination or cancellation of this Agreement and the related Terms Agreement.
12. Successors. This Agreement and the related Terms Agreement will inure
to the benefit of and be binding upon the parties hereto and thereto and their
respective successors and the officers, directors and controlling persons
referred to in Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder. No purchaser
of any Offered Certificate from the Underwriter shall be deemed a successor or
assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED TERMS AGREEMENT WILL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by the related Terms
Agreement, supersedes all prior and contemporaneous agreements and
understandings relating to the subject matter hereof. This Agreement and the
related Terms Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written agreement made by the
party against whom enforcement of the change, waiver, discharge or termination
is sought. The headings in this Agreement and the related Terms Agreement are
for purposes of reference only and shall not limit or otherwise affect the
meaning hereof or thereof.
15. Notices. All communications hereunder will be in writing and effective
only on receipt, and, if sent to the Underwriter, will be delivered to it at the
address first above written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry Hill, New Jersey
08002, Attention: General Counsel.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By: _____________________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By: _______________________
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated March [ ], 1996
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08034
Donaldson, Lufkin & Jenrette Securities Corporation (the "Underwriter")
agrees, subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to purchase such Classes
of Series ____-__ Certificates specified in Section 2(a) hereof (the "Offered
Certificates"). This letter supplements and modifies the Underwriting Agreement
solely as it relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered with the
Securities and Exchange Commission by means of an effective Registration
Statement (No. 33-___). Capitalized terms used and not defined herein have the
meanings given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__ Certificates shall
evidence the entire beneficial ownership interest in a mortgage pool (the
"Mortgage Pool") of conventional, fixed rate, fully amortizing one- to
four-family residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool: $[ ] aggregate
principal balance as of the Cutoff Date, subject to [an upward or downward
variance of up to [ ]%, the precise aggregate principal balance to be
determined by the Company] [a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than $[ ] or greater
than $[ ]].
(b) Original Terms to Maturity: The original term to maturity of each
Mortgage Loan included in the Mortgage Pool shall be between ___ and ___
years.
Section 2. The Certificates: The Offered Certificates shall be issued as
follows:
(a) Classes: The Offered Certificates shall be issued with the
following Class designations, interest rates and principal balances,
subject in the aggregate to the variance referred to in Section 1(a)[and,
as to any particular Class, to an upward or downward variance of up to [
]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
----- ------- ---- ----------------
(b) The Offered Certificates shall have such other characteristics as
described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each Class of the Offered
Certificates shall be the Class Purchase Price Percentage therefor (as set forth
in Section 2(a) above) of the initial Class Certificates Principal Balance
thereof plus accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____ (the "Closing
Date").
Section 4. Required Ratings: The Offered Certificates shall have received
Required Ratings of at least [ ] from [ ].
Section 5. Tax Treatment: [One or more elections will be made to treat the
assets of the Trust Fund as a REMIC.] [The Trust Fund will be treated as a
"grantor trust" for federal income tax purposes.]
[Section 6. Additional Expenses:]*
- -------------------------
* to be inserted if applicable.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By: _______________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By: _____________________________
Name:
Title:
<PAGE>
Execution
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-17
TERMS AGREEMENT
(to Underwriting Agreement,
dated March 21, 1996,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus August 25, 1999
Cherry Hill, NJ 08002
Donaldson, Lufkin & Jenrette Securities Corporation (the "Underwriter")
agrees, subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to purchase the Classes
of Series 1999-17 Certificates specified in Section 2(a) hereof (the "Offered
Certificates"). This Terms Agreement supplements and modifies the Underwriting
Agreement solely as it relates to the purchase and sale of the Offered
Certificates described below. The Series 1999-17 Certificates are registered
with the Securities and Exchange Commission by means of an effective
Registration Statement (Nos. 333-68951 and 333-68951-01). Capitalized terms used
and not defined herein have the meanings given them in the Underwriting
Agreement.
Section 1. The Mortgage Pool: The Series 1999-17 Certificates shall
evidence the entire beneficial ownership interest in a mortgage pool (the
"Mortgage Pool") of conventional, fixed-rate, first-lien, fully-amortizing, one-
to four-family residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of August 1, 1999 (the "Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool: $351,446,953.44
aggregate principal balance as of the Cut-off Date, subject to a permitted
variance such that the aggregate original Certificate Principal Balance
will be not less than $332,500,000 or greater than $367,500,000.
(b) Original Terms to Maturity: The original term to maturity of
substantially all of the Mortgage Loans included in the Mortgage Pool shall
be between 20 and 30 years.
Section 2. The Certificates: The Offered Certificates shall be issued as
follows:
(a) Classes: The Offered Certificates shall be issued with the
following Class designations, interest rates and principal balances,
subject in the aggregate to the variance referred to in Section 1(a):
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class A1 $25,000,000 7.00% 96.03125%
Class A2 14,591,000 7.00% 96.03125%
Class A3 33,502,466 7.00% 96.03125%
Class A4 24,260,774 7.00% 96.03125%
Class A5 35,107,542 7.00% 96.03125%
Class A6 15,029,684 7.00% 96.03125%
Class A7 5,000,000 7.25% 96.03125%
Class A8 178,571 0.00% 96.03125%
Class A9 5,107,000 7.00% 96.03125%
Class A10 28,009,360 7.00% 96.03125%
Class A11 20,500,000 7.00% 96.03125%
Class A12 127,210,748 7.00% 96.03125%
Class R 100 7.00% 96.03125%
(b) The Offered Certificates shall have such other characteristics as
described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each Class of the Offered
Certificates shall be the Class Purchase Price Percentage therefor (as set forth
in Section 2(a) above) of the initial Class Certificate Principal Balance
thereof plus accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, August 26, 1999 (the
"Closing Date").
Section 4. Required Ratings: The Offered Certificates, other than the Class
A8 Certificates, shall have received Required Ratings of at least "AAA" from
each of Fitch IBCA, Inc. ("Fitch") and Standard and Poor's Rating Services, a
division of The McGraw-Hill Companies, Inc. ("S&P"), and the Class A8
Certificates shall have received a Required Rating of "AAA" from Fitch and
"AAAr" from S&P.
Section 5. Tax Treatment: One or more elections will be made to treat the
assets of the Trust Fund as a REMIC.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By: ______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By: _____________________________
Name:
Title:
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Lehman Brothers Inc. New York, New York
American Express Tower May 22, 1996
Three World Financial Center
New York, New York 10285
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation organized and existing
under the laws of the State of New Jersey (the "Company"), may offer for sale to
you (the "Underwriter") from time to time its Pass-Through Certificates
evidencing interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each series, in one or
more classes, in one or more offerings on terms determined at the time of sale
(each such series, a "Series" and each such class, a "Class"). Each Series of
the Certificates will be issued under a separate Pooling and Servicing Agreement
(each, a "Pooling and Servicing Agreement") to be dated as of the respective
cut-off date (each, a "Cut-off Date") between the Company, as seller and
servicer, and State Street Bank and Trust Company, as trustee (the "Trustee").
Capitalized terms used but not defined herein shall have the meanings given to
them in the related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and Servicing Agreement will
represent the entire beneficial ownership interest in a trust fund (the "Trust
Fund") established by such Pooling and Servicing Agreement. The assets of each
Trust Fund will consist primarily of a pool of conventional, fixed rate, first
lien, fully amortizing, one- to four-family residential mortgage loans (the
"Mortgage Loans") having the original terms to maturity specified in the related
Terms Agreement referred to hereinbelow. If so specified in the related Terms
Agreement, one or more elections may be made to treat the assets of each Trust
Fund as a real estate mortgage investment conduit (each, a "REMIC") for federal
income tax purposes.
Whenever the Company determines to make an offering of Certificates (each,
a "Certificate Offering") pursuant to this Agreement through you, it will enter
into an agreement with you (the "Terms Agreement") providing for the sale of
specified Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such Certificate Offering
which the Company elects to make pursuant to this Agreement shall be governed by
this Agreement, as supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A hereto, shall
specify, among other things, the Classes of Certificates to be purchased by the
Underwriter (the "Offered Certificates"), the principal balance or balances of
the Offered Certificates, each subject to any stated variance, and the price or
prices at which such Offered Certificates are to be purchased by the Underwriter
from the Company.
1. Representations and Warranties. (a) The Company represents and
warrants to and agrees with the Underwriter, as of the date of the related
Terms Agreement, that:
(i) The registration statement specified in the related Terms
Agreement, on Form S-3, including a prospectus, has been filed with
the Securities and Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as amended (the "Act"),
of pass-through certificates issuable in series, which registration
statement has been declared effective by the Commission. Such
registration statement, as amended to the date of the related Terms
Agreement, including any documents incorporated by reference therein
pursuant to Item 12 of Form S-3 under the Act which were filed under
the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
on or before the effective date of the Registration Statement, is
hereinafter called the "Registration Statement", and such prospectus,
as such prospectus is supplemented by a prospectus supplement relating
to the Offered Certificates of the related Series, each in the form
first filed after the date of the related Terms Agreement pursuant to
Rule 424(b) under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3 under the Act which
were filed under the Exchange Act on or before the date of such
prospectus supplement (other than any such incorporated documents that
relate to Collateral Term Sheets (as defined herein))(such prospectus
supplement, including such incorporated documents (other than those
that relate to Collateral Term Sheets), in the form first filed after
the date of the related Terms Agreement pursuant to Rule 424(b) is
hereinafter called the "Prospectus Supplement"), is hereinafter called
the "Prospectus". Any reference herein to the terms "amend",
"amendment" or "supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement shall be deemed
to refer to and include the filing of any document under the Exchange
Act after the effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement, as the case may
be, deemed to be incorporated therein by reference pursuant to Item 12
of Form S-3 under the Act.
(ii) The related Registration Statement, at the time it became
effective, and the Prospectus contained therein, and any amendments
thereof and supplements thereto filed prior to the date of the related
Terms Agreement, conformed in all material respects to the
requirements of the Act and the rules and regulations of the
Commission thereunder; on the date of the related Terms Agreement and
on each Closing Date (as defined in Section 3 below), the related
Registration Statement and the related Prospectus, and any amendments
thereof and supplements thereto, will conform in all material respects
to the requirements of the Act and the rules and regulations of the
Commission thereunder; such Registration Statement, at the time it
became effective, did not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading; such
Prospectus, on the date of any filing pursuant to Rule 424(b) and on
each Closing Date, will not include any untrue statement of a material
fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they are made,
not misleading; and the Detailed Description referred to in such
Prospectus, on each Closing Date and the date of any filing thereof
under cover of Form 8-K, will not include any untrue statement of a
material fact or omit to state any information which such Prospectus
states will be included in such Detailed Description; provided,
however, that the Company makes no representations or warranties as to
the information contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement thereto) in reliance
upon and in conformity with written information furnished to the
Company by or on behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as defined in Section
5(b) below), or in any amendment thereof or supplement thereto,
incorporated by reference in such Registration Statement or such
Prospectus (or any amendment thereof or supplement thereto).
(iii) The Certificates of the related Series will conform to the
description thereof contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two highest rating
categories by a nationally recognized statistical rating organization,
be when issued a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act, and will each on the related
Closing Date be duly and validly authorized, and, when validly
executed, countersigned, issued and delivered in accordance with the
related Pooling and Servicing Agreement and sold to you as provided
herein and in the related Terms Agreement, will each be validly issued
and outstanding and entitled to the benefits of the related Pooling
and Servicing Agreement.
(iv) Neither the issuance nor sale of the Certificates of the
related Series nor the consummation of any other of the transactions
herein contemplated, nor the fulfillment of the terms hereof or of the
related Terms Agreement, will conflict with any statute, order or
regulation applicable to the Company of any court, regulatory body,
administrative agency or governmental body having jurisdiction over
the Company or with any organizational document of the Company or any
instrument or any agreement under which the Company is bound or to
which it is a party.
(v) This Agreement and the related Terms Agreement have been duly
authorized, executed and delivered by the Company.
(vi) At or prior to the related Closing Date, the Company will
have entered into the related Pooling and Servicing Agreement and,
assuming the due authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such Closing Date)
will constitute the valid and binding agreement of the Company
enforceable in accordance with its terms, subject as to
enforceability, to bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to general principles of
equity (regardless of whether the enforceability of such Pooling and
Servicing Agreement is considered in a proceeding in equity or at
law).
2. Purchase and Sale. Subject to the execution of the Terms Agreement
for a particular Certificate Offering and subject to the terms and
conditions and in reliance upon the representations and warranties set
forth in this Agreement and such Terms Agreement, the Company agrees to
sell to the Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered Certificates at
the purchase price therefor set forth in such Terms Agreement (the
"Purchase Price").
The parties hereto agree that settlement for all securities sold
pursuant to this Agreement and the applicable Terms Agreement shall take
place on the settlement date agreed upon at the time of the related
transaction and set forth as the "Closing Date" in such Terms Agreement and
not as set forth in Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for the Offered
Certificates of a Series shall be made at the offices of Cleary, Gottlieb,
Steen & Hamilton, New York, New York, at 10:00 A.M., New York City time, on
the Closing Date specified in the related Terms Agreement, which date and
time may be postponed by agreement between the Underwriter and the Company
(such date and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter against payment
by the Underwriter of the Purchase Price thereof to or upon the order of
the Company by wire transfer in federal or other immediately available
funds or by check payable in federal funds, as the Company shall specify no
later than five full business days prior to such Closing Date. Unless
delivery is made through the facilities of The Depository Trust Company,
the Offered Certificates shall be registered in such names and in such
authorized denominations as the Underwriter may request not less than two
full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least two business
days before each Closing Date of the exact principal balance evidenced by
the Offered Certificates and to have such Offered Certificates available
for inspection, checking and packaging in New York, New York, no later than
12:00 noon on the business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that the Underwriter
proposes to offer the Offered Certificates of the related Series for sale
to the public as set forth in the related Prospectus.
5. Agreements. The Company agrees with the Underwriter that:
(a) The Company will cause the Prospectus as supplemented by a
Prospectus Supplement relating to the Offered Certificates to be filed
pursuant to Rule 424 under the Act and will promptly advise the
Underwriter when such Prospectus as so supplemented has been so filed,
and prior to the termination of the Certificate Offering to which such
Prospectus relates also will promptly advise the Underwriter (i) when
any amendment to the related Registration Statement specifically
relating to such Offered Certificates shall have become effective or
any further supplement to such Prospectus has been filed, (ii) of any
request by the Commission for any amendment of such Registration
Statement or Prospectus or for any additional information, (iii) of
the issuance by the Commission of any stop order suspending the
effectiveness of such Registration Statement or the institution or
threatening of any proceeding for that purpose and (iv) of the receipt
by the Company of any written notification with respect to the
suspension of the qualification of such Offered Certificates for sale
in any jurisdiction or the initiation or threatening of any proceeding
for such purpose. The Company will not file any amendment of the
related Registration Statement or supplement to the related Prospectus
(other than any amendment or supplement specifically relating to one
or more Series of pass-through certificates other than the Series that
includes the related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior to filing.
The Company will use its best efforts to prevent the issuance of any
such stop order and, if issued, to obtain as soon as possible the
withdrawal thereof.
(b) The Company will cause any Computational Materials and any
Structural Term Sheets (each as defined in Section 8 below) with
respect to the Offered Certificates of a Series that are delivered by
the Underwriter to the Company pursuant to Section 8 to be filed with
the Commission on a Current Report on Form 8-K (each such filing of
such materials, a "Current Report") pursuant to Rule 13a- 11 under the
Exchange Act on the business day immediately following the later of
(i) the day on which such Computational Materials and Structural Term
Sheets are delivered to counsel for the Company by the Underwriter
prior to 10:30 a.m. and (ii) the date on which this Agreement is
executed and delivered. The Company will cause one Collateral Term
Sheet (as defined in Section 9 below) with respect to the Offered
Certificates of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to be filed
with the Commission on a Current Report pursuant to Rule 13a-11 under
the Exchange Act on the business day immediately following the day on
which such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In addition, if at any
time prior to the availability of the related Prospectus Supplement
the Underwriter has delivered to any prospective investor a Collateral
Term Sheet that reflects, in the reasonable judgment of the
Underwriter and the Company, a material change in the characteristics
of the Mortgage Loans for the related Series from those on which a
Collateral Term Sheet with respect to the related Series previously
filed with the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to be filed
with the Commission on a Current Report on the business day
immediately following the day on which such Collateral Term Sheet is
delivered to counsel for the Company by the Underwriter prior to 10:30
a.m. In each case, the Company will promptly advise the Underwriter
when such Current Report has been so filed. Each such Current Report
shall be incorporated by reference in the related Prospectus and the
related Registration Statement. Notwithstanding the five preceding
sentences, the Company shall have no obligation to file any materials
provided by the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making reasonable
efforts to consult with the Underwriter, are not required to be filed
pursuant to the Kidder Letters or the PSA Letter (each as defined in
Section 8 below), or which contain erroneous information or contain
any untrue statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however, that
the Company shall have no obligation to review or pass upon the
accuracy or adequacy of, or to correct, any Computational Materials,
Structural Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section 9 hereof.
(c) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act,
any event occurs as a result of which the related Prospectus as then
amended or supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary to make the
statements therein in light of the circumstances under which they were
made not misleading, or if it shall be necessary at any time to amend
or supplement the related Prospectus to comply with the Act or the
rules thereunder, the Company promptly will prepare and file with the
Commission, subject to paragraph (a) of this Section 5, an amendment
or supplement which will correct such statement or omission or an
amendment which will effect such compliance; provided, however, that
the Company will not be required to file any such amendment or
supplement with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by reference in the
Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are furnished
to the Company by the Underwriter pursuant to Section 8(e) hereof or
any amendments or supplements of such Collateral Term Sheets that are
furnished to the Company by the Underwriter pursuant to Section 9(d)
hereof which the Company determines to file in accordance therewith.
(d) The Company will furnish to the Underwriter and counsel for
the Underwriter, without charge, as many signed copies of the related
Registration Statement (including exhibits thereto) and, so long as
delivery of a prospectus by the Underwriter or dealer may be required
by the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related Current
Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information, execute such
instruments and take such actions as may be reasonably requested by
the Underwriter to qualify the Offered Certificates of a Series for
sale under the laws of such jurisdictions as the Underwriter may
designate, to maintain such qualifications in effect so long as
required for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for purchase by
institutional investors; provided, however, that the Company shall not
be required to qualify to do business in any jurisdiction where it is
not qualified on the date of the related Terms Agreement or to take
any action which would subject it to general or unlimited service of
process in any jurisdiction in which it is not, on the date of the
related Terms Agreement, subject to such service of process.
(f) So long as the Offered Certificates of a Series are
outstanding, the Company will furnish to the Underwriter copies of the
annual independent public accountants' servicing report furnished to
the Trustee pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated hereby and by
the related Terms Agreement shall be consummated, the Company shall be
responsible for the payment of any costs and expenses for which
details are submitted, in connection with the performance of its
obligations under this Agreement and the related Terms Agreement,
including, without limitation, (a) the cost and expenses of printing
or otherwise reproducing the related Registration Statement or
Prospectus, this Agreement, the related Terms Agreement, the related
Pooling and Servicing Agreement and the Offered Certificates, and (b)
the cost of delivering the related Offered Certificates to the office
of the Underwriter, insured to the satisfaction of the Underwriter (it
being understood that, except as provided in this paragraph (f) and in
Section 7 hereof, the Underwriter will pay all its own costs and
expenses, including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered Certificates by
it, advertising expenses connected with any offers that it may make,
the fees of KPMG Peat Marwick LLP with respect to its letters
furnished pursuant to Section 6(i) of this Agreement and any letter
furnished pursuant to the last sentence of Section 6(h) hereof, the
fees of any firm of public accountants selected by the Underwriter
with respect to their letter furnished pursuant to Section 8(c) of
this Agreement, any other costs and expenses specified in the related
Terms Agreement as "Additional Expenses", and all expenses (e.g.,
shipping, postage and courier costs) associated with the delivery of
the related Prospectus to prospective investors and investors, other
than the costs of delivery to the Underwriter's facilities, provided,
that if courier services (other than overnight delivery services
utilized in the ordinary course of business) are required to ensure
that such Prospectus is delivered to investors on the day immediately
preceding the related Closing Date, the Company will pay such courier
expenses).
6. Conditions to the Obligations of the Underwriter. The obligations
of the Underwriter to purchase the Offered Certificates of any Series shall
be subject to the accuracy in all material respects of the representations
and warranties on the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective dates
thereof and the related Closing Date, to the accuracy of the statements of
the Company made in any applicable officers' certificates pursuant to the
provisions hereof, to the performance by the Company of its obligations
under this Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate Offering:
(a) No stop order suspending the effectiveness of the related
Registration Statement shall have been issued and no proceedings for
that purpose shall have been instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel for the Company,
shall have furnished to the Underwriter an opinion, dated the related
Closing Date, to the effect that:
(i) this Agreement and the related Terms Agreement have been
duly executed and delivered by the Company under the law of the
State of New York;
(ii) the related Pooling and Servicing Agreement has been
duly executed and delivered by the Company under the law of the
State of New York and is a legal, valid and binding agreement of
the Company enforceable against the Company in accordance with
its terms;
(iii) the Offered Certificates, when duly executed and
countersigned by the Trustee in accordance with the related
Pooling and Servicing Agreement, will be validly issued and
outstanding and entitled to the benefits of such Pooling and
Servicing Agreement;
(iv) the related Pooling and Servicing Agreement is not
required to be qualified under the Trust Indenture Act of 1939,
as amended, and the trust created thereunder is not required to
be registered under the Investment Company Act of 1940, as
amended;
(v) such counsel confirms that (based solely upon telephone
confirmation from a representative of the Commission) the related
Registration Statement is effective under the Act and, to the
best of such counsel's knowledge, no stop order with respect
thereto has been issued, and no proceeding for that purpose has
been instituted or threatened by the Commission; such
Registration Statement (except the financial statements and
schedules and other financial and statistical data included
therein and the documents incorporated by reference therein, as
to which such counsel need express no view), at the time it
became effective and the related Prospectus (except the financial
statements and schedules and the other financial and statistical
data included therein, the documents incorporated by reference
therein and the information included in the second sentence of
the antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the cover page
of such Prospectus Supplement and in the second and fourth
sentences of the first paragraph under the heading "Plan of
Distribution" therein, as to which such counsel need express no
view), as of the date of the Prospectus Supplement appeared on
their face to be appropriately responsive in all material
respects to the requirements of the Act and the rules and
regulations thereunder; and no information has come to the
attention of such counsel that causes it to believe that (A) such
Registration Statement (except the financial statements and
schedules and the other financial and statistical data included
therein and the documents incorporated by reference therein, as
to which such counsel need express no view) at the time it became
effective, contained an untrue statement of a material fact or
omitted to state a material fact required to be stated therein or
necessary to make the statements therein not misleading or (B)
such Prospectus or any amendment or supplement thereto (except
the financial statements and schedules and the other financial
and statistical data included therein, the documents incorporated
by reference therein and the information included in the second
sentence of the antepenultimate paragraph, the first sentence of
the penultimate paragraph, and the last paragraph of the cover
page of such Prospectus Supplement and in the second and fourth
sentences of the first paragraph under the heading "Plan of
Distribution" therein, as to which such counsel need express no
view), as of the date of the Prospectus Supplement, or at the
related Closing Date, contained or contains an untrue statement
of a material fact or omitted or omits to state a material fact
necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading;
(vi) the statements set forth under the heading "Description
of the Certificates" in the related Prospectus, insofar as such
statements purport to summarize certain provisions of the related
Pooling and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such provisions;
(vii) the statements set forth in the related Prospectus
under the headings "Certain Legal Aspects of the Mortgage Loans
and Contracts -- The Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to the
purchase, ownership and disposition of the related Offered
Certificates) and "ERISA Considerations" (insofar as they relate
specifically to the purchase, ownership and disposition of such
Offered Certificates), to the extent that they constitute matters
of law or legal conclusions, provide a fair summary of such law
or conclusions;
(viii) assuming compliance with all provisions of the
related Pooling and Servicing Agreement, for federal income tax
purposes, (A) if any election is made to treat the assets of the
Trust Fund as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant to Section
860D of the Internal Revenue Code of 1986, as amended (the
"Code"), each Class of Certificates of the related Series, other
than the related Residual Class or Classes, will constitute a
class of "regular interests" in the related REMIC within the
meaning of the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of Residual
Certificates will constitute the "residual interest" in the
related REMIC within the meaning of the Code; (B) if no such
REMIC election is made: the Trust Fund will be treated as a
"grantor trust"; and
(ix) assuming that some or all of the Offered Certificates
of the related Series shall be rated at the time of issuance in
one of the two highest rating categories by a nationally
recognized statistical rating organization, each Offered
Certificate so rated will be at the time of issuance, a "mortgage
related security" as such term is defined in Section 3(a)(41) of
the Exchange Act.
Such opinion may express its reliance as to factual matters on the
representations and warranties made by, and on certificates or other
documents furnished by, officers of the parties to this Agreement, the
related Terms Agreement or the related Pooling and Servicing
Agreement. Such opinion may assume the due authorization, execution
and delivery of the instruments and documents referred to therein by
the parties thereto other than the Company. Such opinion may be
qualified, insofar as it concerns the enforceability of the documents
referred to therein, to the extent that such enforceability may be
limited by bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in general and by
general equity principles (regardless of whether such enforcement is
considered in a proceeding in equity or at law). Such opinion may be
further qualified as expressing no opinion as to (x) the statements in
the related Prospectus under the heading "Certain Legal Aspects of the
Mortgage Loans and Contracts -- The Mortgage Loans" except insofar as
such statements relate to the laws of the State of New York and the
laws of the United States, and (y) the statements in such Prospectus
under the headings "ERISA Considerations" and "Certain Federal Income
Tax Consequences" except insofar as such statements relate to the laws
of the United States. In addition, such opinion may be qualified as an
opinion only on the law of the State of New York and the federal law
of the United States of America.
(c) The General Counsel for the Company shall have furnished to
the Underwriter an opinion, dated the related Closing Date, to the
effect that:
(i) The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the
State of New Jersey, with corporate power to own its properties,
to conduct its business as described in the related Prospectus
and to enter into and perform its obligations under this
Agreement, the related Terms Agreement, the related Pooling and
Servicing Agreement and the Certificates of the related Series;
(ii) The Company has full power and authority to sell and
service the related Mortgage Loans as contemplated herein and in
the related Pooling and Servicing Agreement;
(iii) No consent, approval, authorization or order of any
court or governmental agency or body is required for the
consummation by the Company of the transactions contemplated
herein or in the related Pooling and Servicing Agreement, except
such as may be required under the blue sky laws of any
jurisdiction and such other approvals as have been obtained;
(iv) Neither the issuance of the Certificates of the related
Series nor delivery of the related Offered Certificates, nor the
consummation of any other of the transactions contemplated in
this Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment of the terms
of the related Certificates, the related Pooling and Servicing
Agreement, this Agreement or the related Terms Agreement will
conflict with or violate any term or provision of the articles of
incorporation or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court, regulatory
body, administrative agency or governmental body having
jurisdiction over the Company and will not conflict with, result
in a breach or violation or the acceleration of or constitute a
default under the terms of any indenture or other agreement or
instrument known to such counsel to which the Company is a party
or by which it is bound; and
(v) There are no actions, proceedings or investigations
pending or, to the best knowledge of such counsel, threatened
before any court, administrative agency or other tribunal (i)
asserting the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement or the
related Certificates, (ii) seeking to prevent the issuance of the
Certificates of the related Series or the consummation by the
Company of any of the transactions contemplated by this
Agreement, such Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and adversely affect
the performance by the Company of its obligations under, or the
validity or enforceability of, this Agreement, such Terms
Agreement, such Pooling and Servicing Agreement or the related
Certificates.
In rendering her opinion such counsel may rely as to matters of fact,
to the extent deemed proper and as stated therein, on certificates of
responsible officers of the Company or public officials. In addition,
such opinion may be qualified as an opinion only on the laws of the
State of New Jersey.
(d) The Underwriter shall have received from Brown & Wood,
counsel for the Underwriter, such opinion or opinions, dated the
related Closing Date, with respect to the issuance and sale of the
Certificates of the related Series, the related Registration
Statement, the related Prospectus and such other related matters as
the Underwriter may reasonably require, and the Company shall have
furnished to such counsel such documents as the Underwriter may
reasonably request for the purpose of enabling them to pass upon such
matters.
(e) The Company shall have furnished to the Underwriter a
certificate of the Company, signed by the President or any Vice
President and the Senior Vice President-Finance or the principal
financial or accounting officer of the Company, dated the related
Closing Date, to the effect that the signers of such certificate have
carefully examined the related Registration Statement (excluding any
Current Reports and any other documents incorporated by reference
therein), the related Prospectus, the Detailed Description referred to
in such Prospectus (excluding any related Current Report), this
Agreement and the related Terms Agreement and that:
(i) the representations and warranties of the Company in
this Agreement are true and correct in all material respects on
and as of the related Closing Date with the same effect as if
made on such Closing Date, and the Company has complied with all
the agreements and satisfied all the conditions on its part to be
performed or satisfied at or prior to such Closing Date;
(ii) no stop order suspending the effectiveness of such
Registration Statement has been issued and no proceedings for
that purpose have been instituted or, to their knowledge,
threatened; and
(iii) nothing has come to their attention that would lead
them to believe that such Registration Statement (excluding any
Current Report) contains any untrue statement of a material fact
or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading, that
the related Prospectus (excluding any related Current Report)
contains any untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or that the Detailed
Description referred to in such Prospectus includes any untrue
statement of a material fact or omits to state any information
which the Prospectus states will be included in such Detailed
Description.
(f) Peabody & Arnold, counsel for the Trustee, shall have
furnished to the Underwriter an opinion, dated the related Closing
Date, to the effect that:
(i) the Trustee has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the
Commonwealth of Massachusetts with corporate power to own its
properties and conduct its business as presently conducted by it,
to conduct business as a trustee and to enter into and perform
its obligations under the related Pooling and Servicing
Agreement;
(ii) the related Pooling and Servicing Agreement has been
duly authorized, executed and delivered by the Trustee and
constitutes the legal, valid and binding agreement of the Trustee
enforceable against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization or other similar laws affecting the enforcement of
creditors' rights generally and to judicial discretion, and
general principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law);
(iii) the Trustee has duly accepted its appointment as
trustee under the related Pooling and Servicing Agreement;
(iv) no consent, approval, authorization or order of any
Massachusetts or federal court or government agency or body is
required on the part of the Trustee for the consummation of the
transactions contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any federal or
state securities law; and
(v) the performance on the part of the Trustee of any of the
transactions contemplated in the related Pooling and Servicing
Agreement does not conflict with or result in a breach or
violation of any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or By-Laws of
the Trustee, or any Massachusetts or federal statute or
regulation applicable to the Trustee, or to such counsel's
knowledge, any indenture or other agreement or instrument to
which the Trustee is a party or by which it is bound, or, to such
counsel's knowledge, any order of any state or federal court,
regulatory body, administrative agency or governmental body
having jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter such
opinions as to the treatment of the Trust Fund for purposes of
Massachusetts tax law as are reasonably satisfactory to the
Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to the Underwriter
a letter, dated as of the date of the related Terms Agreement, in form
and substance satisfactory to the Underwriter, stating in effect that
they have performed certain specified procedures as a result of which
they have determined that such information as the Underwriter may
reasonably request of an accounting, financial or statistical nature
(which is limited to accounting, financial or statistical information
derived from the general accounting records of the Company) set forth
in the related Prospectus Supplement under the caption "Delinquency
and Foreclosure Experience of the Company" agrees with the accounting
records of the Company, excluding any questions of legal
interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to the Underwriter
a letter, dated as of the related Closing Date, in form and substance
satisfactory to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which they have
determined that such information as the Underwriter may reasonably
request of an accounting, financial or statistical nature (which is
limited to accounting, financial or statistical information derived
from the general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans included
in the related pool) set forth in the related Prospectus Supplement
under the caption "Description of the Mortgage Pool and the Mortgaged
Proper- ties" or "Description of the Mortgage Pools and the Mortgaged
Properties", as the case may be, and in the Detailed Description
relating to such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and, where
applicable, the related Mortgage Loan files of the Company, excluding
any questions of legal interpretation. In addition, if applicable,
such accountants shall have furnished to the Underwriter a letter,
dated as of the related Closing Date, which shall include a statement
or statements to the effect that based upon the assumptions and
methodology agreed to by the Company (and which is consistent with the
manner in which any final PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or any other
scheduled balances are to be calculated as set forth in the related
Prospectus), all of which shall be described by reference in such
letter, such accountants shall have verified the mathematical accuracy
of any final PAC Balances Table, TAC Balances Table, Scheduled
Balances Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the related Pooling
and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to the Underwriter
and the Company a letter or letters, dated as of the date of the
related Terms Agreement, in form and substance satisfactory to the
Underwriter and the Company, including, without limitation,
statements, if applicable, to the effect that:
(i) based upon the assumptions and methodology set forth in
the related Prospectus, all of which shall be described by
reference in such letter, they recomputed the percentages of
initial principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus) indicated and
the weighted average lives of each Class of Offered Certificates
at each of the indicated percentages of the applicable Prepayment
Assumption, and they compared the recomputed percentages and
weighted average lives to the corresponding percentages and
weighted average lives set forth in the related tables and found
them to be in agreement;
(ii) based upon the assumptions and methodology set forth in
such Prospectus, all of which shall be described by reference in
such letter, they have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered Certificates,
PAC Balances, TAC Balances, Scheduled Balances, Maximum and
Minimum Scheduled Balances or any other scheduled balances set
forth in such Prospectus for each indicated Distribution Date,
and have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled Certificates
or other scheduled Certificates set forth in such Prospectus; and
(iii) based upon the assumptions and methodology set forth
in such Prospectus, all of which shall be described by reference
in such letter, they have verified the mathematical accuracy of
the pre-tax yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such pre-tax yields
and, if applicable, aggregate cash flows are set forth in such
Prospectus at the indicated percentages of the Prepayment
Assumption and, if applicable, at the indicated values of COFI,
LIBOR or any other index, as applicable.
(j) The Offered Certificates of the related Series shall have
received the ratings specified in the related Terms Agreement (the
"Required Ratings").
(k) Prior to the related Closing Date, the Company shall have
furnished to the Underwriter such further information, certificates
and documents as the Underwriter may reasonably request.
(l) If any Certificates of the related Series are to be sold to
any other underwriter and/or offered in reliance upon an exemption
from the registration requirements of the Act, the sale at or prior to
the related Closing Date of such Certificates to the purchaser thereof
shall have occurred.
(m) Subsequent to the date of the related Terms Agreement, there
shall not have been any change, or any development involving a
prospective change, in or affecting the business or properties of the
Company which the Underwriter concludes in its judgment, after
consultation with the Company, materially impairs the investment
quality of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the public offering
or the delivery of such Offered Certificates as contemplated by the
related Prospectus.
If any of the conditions specified in this Section 6 shall not have
been fulfilled in all material respects with respect to the particular
Offered Certificates of a Series when and as provided in this Agreement and
the related Terms Agreement, or if any of the opinions and certificates
mentioned above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably satisfactory in
form and substance to the Underwriter and its counsel, this Agreement (with
respect to the related Offered Certificates) and the related Terms
Agreement and all obligations of the Underwriter hereunder (with respect to
the related Offered Certificates) and thereunder may be canceled at, or at
any time prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by telephone
or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company agrees to
indemnify and hold harmless the Underwriter and each person who controls
the Underwriter within the meaning of the Act or the Exchange Act against
any and all losses, claims, damages or liabilities, joint or several, to
which they or any of them may become subject under the Act, the Exchange
Act, or other Federal or state statutory law or regulation, at common law
or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in the
Registration Statement relating to the Offered Certificates of the
applicable Series as it became effective or in any amendment or supplement
thereof, or in such Registration Statement or the related Prospectus, or in
any amendment thereof, or in the Detailed Description referred to in such
Prospectus or arise out of or are based upon the omission or alleged
omission (in the case of any Computational Materials or ABS Term Sheets (in
each case, as defined herein) in respect of which the Company agrees to
indemnify the Underwriter, as set forth below, when such are read in
conjunction with the related Prospectus and Prospectus Supplement) to state
therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, and agrees to reimburse each such
indemnified party for any legal or other expenses reasonably incurred by
them in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that (i) the Company will
not be liable in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written information
furnished to the Company as herein stated by or on behalf of the
Underwriter specifically for use in connection with the preparation thereof
or (B) in any Current Report or any amendment or supplement thereof, except
to the extent that any untrue statement or alleged untrue statement therein
or omission therefrom results (or is alleged to have resulted) directly
from an error (a "Mortgage Pool Error") in the information concerning the
characteristics of the Mortgage Loans furnished by the Company to the
Underwriter in writing or by electronic transmission that was used in the
preparation of either (x) any Computational Materials or ABS Term Sheets
(or amendments or supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic materials
furnished to prospective investors on which the Computational Materials (or
amendments or supplements) were based, (ii) such indemnity with respect to
any Corrected Statement (as defined below) in such Prospectus (or
supplement thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person asserting any
loss, claim, damage or liability purchased the Certificates of the related
Series that are the subject thereof if such person did not receive a copy
of a supplement to such Prospectus at or prior to the confirmation of the
sale of such Certificates and the untrue statement or omission of a
material fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and such
supplement was furnished by the Company to the Underwriter prior to the
delivery of such confirmation, and (iii) such indemnity with respect to any
Mortgage Pool Error shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person asserting any
loss, claim, damage or liability received any Computational Materials (or
any written or electronic materials on which the Computational Materials
are based) or ABS Term Sheets that were prepared on the basis of such
Mortgage Pool Error, if, prior to the time of confirmation of the sale of
the applicable Certificates to such person, the Company notified the
Underwriter in writing of the Mortgage Pool Error or provided in written or
electronic form information superseding or correcting such Mortgage Pool
Error (in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to such
person corrected Computational Materials (or underlying written or
electronic materials) or ABS Term Sheets. This indemnity agreement will be
in addition to any liability which the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold harmless the
Company, each of its directors, each of its officers who signs the
Registration Statement relating to the Offered Certificates of the
applicable Series, and each person who controls the Company within the
meaning of the Act or the Exchange Act to the same extent as the
foregoing indemnities from the Company to the Underwriter, but only
with reference to (A) written information furnished to the Company by
or on behalf of the Underwriter specifically for use in the
preparation of the documents referred to in the foregoing indemnity
with respect to the related Series, or (B) any Computational Materials
or ABS Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 or Section 9 and
incorporated by reference in such Registration Statement or the
related Prospectus or any amendment or supplement thereof (except that
no such indemnity shall be available for any losses, claims, damages
or liabilities, or actions in respect thereof, resulting from any
Mortgage Pool Error, other than a Corrected Mortgage Pool Error). This
indemnity agreement will be in addition to any liability which the
Underwriter may otherwise have. The Company acknowledges that the
statements set forth in the second sentence of the ante-penultimate
paragraph, the first sentence of the penultimate paragraph, and in the
last paragraph appearing on the cover page of the related Prospectus
Supplement as such statements relate to such Offered Certificates and
the second sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements relate
to such Offered Certificates constitute the only information furnished
in writing by or on behalf of the Underwriter for inclusion in the
related Prospectus (other than any Computational Materials or ABS Term
Sheets (or amendments or supplements thereof) furnished to the Company
by the Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party under Section
7 of notice of the commencement of any action, such indemnified party
will, if a claim in respect thereof is to be made against the
indemnifying party under this Section 7, notify the indemnifying party
in writing of the commencement thereof; but the omission so to notify
the indemnifying party will not relieve it from any liability which it
may have to any indemnified party otherwise than under this Section 7.
In case any such action is brought against any indemnified party, and
it notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and to the
extent that it may elect by written notice delivered to the
indemnified party promptly after receiving the aforesaid notice from
such indemnified party, to assume the defense thereof, with counsel
satisfactory to such indemnified party; provided, however, that if the
defendants in any such action include both the indemnified party and
the indemnifying party and the indemnified party shall have reasonably
concluded that there may be legal defenses available to it and/or
other indemnified parties which are different from or additional to
those available to the indemnifying party, the indemnified party or
parties shall have the right to select separate counsel to assert such
legal defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon receipt of
notice from the indemnifying party to such indemnified party of its
election so to assume the defense of such action and approval by the
indemnified party of counsel, the indemnifying party will not be
liable to such indemnified party under this Section 7 for any legal or
other expenses subsequently incurred by such indemnified party in
connection with the defense thereof unless (i) the indemnified party
shall have employed separate counsel in connection with the assertion
of legal defenses in accordance with the proviso to the next preceding
sentence (it being understood, however, that the indemnifying party
shall not be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a) or
(b), representing the indemnified parties under subparagraph (a) or
(b), who are parties to such action), (ii) the indemnifying party
shall not have employed counsel satisfactory to the indemnified party
to represent the indemnified party within a reasonable time after
notice of commencement of the action or (iii) the indemnifying party
has authorized the employment of counsel for the indemnified party at
the expense of the indemnifying party; and except that, if clause (i)
or (iii) is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph (a) or (b)
of this Section 7 is due in accordance with its terms but is for any
reason held by a court to be unavailable from the Company or the
Underwriter, on grounds of policy or otherwise, or if the indemnified
party failed to give notice under paragraph (c) of this Section 7 in
respect of a claim otherwise subject to indemnification in accordance
with paragraph (a) or (b) of this Section 7, the Company and the
Underwriter shall contribute to the aggregate losses, claims, damages
and liabilities (including legal and other expenses reasonably
incurred in connection with investigating or defending same) to which
the Company and the Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not arise
out of or are not based upon any untrue statement or omission of
a material fact in any Computational Materials or ABS Term Sheets
(or any amendments or supplements thereof), in such proportion so
that the Underwriter is responsible for that portion represented
by the difference between the proceeds to the Company in respect
of the Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however, that
in no case shall the Underwriter be responsible under this
subparagraph (i) for any amount in excess of such Underwriting
Discount applicable to the Offered Certificates purchased by the
Underwriter pursuant to this Agreement and the related Terms
Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out of or
are based upon any untrue statement or omission of a material
fact in any Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof) or in any written or
electronic materials distributed to prospective investors on
which the Computational Materials are based, in such proportion
as is appropriate to reflect the relative fault of the Company on
the one hand and the Underwriter on the other in connection with
the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect thereof) as
well as any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact in
such Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof or such written or electronic
materials) results from information prepared by the Company on
the one hand or the Underwriter on the other and the parties'
relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. For
purposes of this Section 7, each person who controls the Underwriter
within the meaning of either the Act or the Exchange Act shall have
the same rights to contribution as the Underwriter, and each person
who controls the Company within the meaning of either the Act or the
Exchange Act, each officer of the Company who shall have signed the
Registration Statement and each director of the Company shall have the
same rights to contribution as the Company, subject in each case to
the immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets. (a) Not later
than 10:30 a.m., New York time, on the business day before the date on
which the Current Report relating to the Offered Certificates of a Series
is required to be filed by the Company with the Commission pursuant to
Section 5(b) hereof, the Underwriter shall deliver to the Company five
complete copies of all materials provided by the Underwriter to prospective
investors in such Offered Certificates that constitute (i) "Computational
Materials" within the meaning of the no-action letter dated May 20, 1994
issued by the Division of Corporation Finance of the Commission to Kidder,
Peabody Acceptance Corporation I, Kidder, Peabody & Co. Incorporated, and
Kidder Structured Asset Corporation and the no-action letter dated May 27,
1994 issued by the Division of Corporation Finance of the Commission to the
Public Securities Association (together, the "Kidder Letters"), the filing
of which material is a condition of the relief granted in such letter (such
materials being the "Computational Materials"), and (ii) "Structural Term
Sheets" within the meaning of the no-action letter dated February 17, 1995
issued by the Division of Corporation Finance of the Commission to the
Public Securities Association (the "PSA Letter"), the filing of which
material is a condition of the relief granted in such letter (such
materials being the "Structural Term Sheets"). Each delivery of
Computational Materials and Structural Term Sheets to the Company pursuant
to this paragraph (a) shall be effected by delivering four copies of such
materials to counsel for the Company on behalf of the Company at the
address specified in Section 3 hereof and one copy of such materials to the
Company.
(b) The Underwriter represents and warrants to and agrees with
the Company, as of the date of the related Terms Agreement and as of
the Closing Date, that:
(i) the Computational Materials furnished to the Company
pursuant to Section 8(a) constitute (either in original,
aggregated or consolidated form) all of the materials furnished
to prospective investors by the Underwriter prior to the time of
delivery thereof to the Company that are required to be filed
with the Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters, and such
Computational Materials comply with the requirements of the
Kidder Letters;
(ii) the Structural Term Sheets furnished to the Company
pursuant to Section 8(a) constitute all of the materials
furnished to prospective investors by the Underwriter prior to
the time of delivery thereof to the Company that are required to
be filed with the Commission as "Structural Term Sheets" with
respect to the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply with the
requirements of the PSA Letter; and
(iii) on the date any such Computational Materials or
Structural Term Sheets with respect to such Offered Certificates
(or any written or electronic materials furnished to prospective
investors on which the Computational Materials are based) were
last furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 8(a) and on
the related Closing Date, such Computational Materials (or such
other materials) or Structural Term Sheets did not and will not
include any untrue statement of a material fact or, when read in
conjunction with the related Prospectus and Prospectus
Supplement, omit to state a material fact required to be stated
therein or necessary to make the statements therein not
misleading.
Notwithstanding the foregoing, the Underwriter makes no representation
or warranty as to whether any Computational Materials or Structural
Term Sheets (or any written or electronic materials on which the
Computational Materials are based) included or will include any untrue
statement resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to materials prepared
after the receipt by the Underwriter from the Company of notice of
such Corrected Mortgage Pool Error or materials superseding or
correcting such Corrected Mortgage Pool Error).
(c) The Underwriter shall cause a firm of public accountants to
furnish to the Company a letter, dated as of the date on which the
Underwriter delivers any Computational Materials (which term shall be
deemed to include, for purposes of this paragraph (c), calculated
statistical information delivered to prospective investors in the form
of a Structural Term Sheet) to the Company pursuant to Section 8(a),
in form and substance satisfactory to the Company, stating in effect
that they have verified the mathematical accuracy of any calculations
performed by the Underwriter and set forth in such Computational
Materials.
(d) The Underwriter acknowledges and agrees that any
Computational Materials or Structural Term Sheets with respect to any
Series of Certificates furnished to prospective investors from and
after May 21, 1996 have been prepared and disseminated by the
Underwriter and not by or on behalf of the Company, and that such
materials included and shall include a disclaimer in form satisfactory
to the Company to the effect that such materials have been prepared
and disseminated by the Underwriter, and that the content and accuracy
of such materials have not been reviewed by the Company.
(e) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act, it
shall be necessary to amend or supplement the related Prospectus as a
result of an untrue statement of a material fact contained in any
Computational Materials or Structural Term Sheets provided by the
Underwriter pursuant to this Section 8 or the omission to state
therein a material fact required, when considered in conjunction with
the related Prospectus and Prospectus Supplement, to be stated therein
or necessary to make the statements therein, when read in conjunction
with the related Prospectus and Prospectus Supplement, not misleading,
or if it shall be necessary to amend or supplement any Current Report
relating to any Computational Materials or Structural Term Sheets to
comply with the Act or the rules thereunder, the Underwriter promptly
will prepare and furnish to the Company for filing with the Commission
an amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the date of
delivery of such amendment or supplement to the Company, that such
amendment or supplement will not include any untrue statement of a
material fact or, when read in conjunction with the related Prospectus
and Prospectus Supplement, omit to state a material fact required to
be stated therein or necessary to make the statements therein not
misleading; provided, however, that the Underwriter makes no
representation or warranty as to whether any such amendment or
supplement will include any untrue statement resulting directly from
any Mortgage Pool Error (except any Corrected Mortgage Pool Error,
with respect to any such amendment or supplement prepared after the
receipt by the Underwriter from the Company of notice of such
Corrected Mortgage Pool Error or materials superseding or correcting
such Corrected Mortgage Pool Error). The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any untrue
statement of a material fact or, when read in conjunction with the
related Prospectus and Prospectus Supplement, omits to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however, that
the Company shall have no obligation to review or pass upon the
accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to this
paragraph (e) or (ii) such filing is not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery of any
"Collateral Term Sheet" within the meaning of the PSA Letter, the filing of
which material is a condition of the relief granted in such letter (such
material being the "Collateral Term Sheets"), to a prospective investor in
any Offered Certificates, the Underwriter shall, in order to facilitate the
timely filing of such material with the Commission, notify the Company and
its counsel by telephone of its intention to deliver such materials and the
approximate date on which the first such delivery of such materials is
expected to occur. Not later than 10:30 a.m., New York time, on the
business day immediately following the date on which any Collateral Term
Sheet was first delivered to a prospective investor in such Offered
Certificates, the Underwriter shall deliver to the Company five complete
copies of all materials provided by the Underwriter to prospective
investors in the Offered Certificates that constitute "Collateral Term
Sheets." Each delivery of a Collateral Term Sheet to the Company pursuant
to this paragraph (a) shall be effected by delivering four copies of such
materials to counsel for the Company on behalf of the Company at the
address specified in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are, together,
referred to herein as "ABS Term Sheets.") At the time of each such
delivery, the Underwriter shall indicate in writing that the materials
being delivered constitute Collateral Term Sheets, and, if there has been
any prior such delivery with respect to the related Series, shall indicate
whether such materials differ in any material respect from any Collateral
Term Sheets previously delivered to the Company with respect to such Series
pursuant to this Section 9(a) as a result of the occurrence of a material
change in the characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and agrees with
the Company as of the date of the related Terms Agreement and as of
the Closing Date, that:
(i) The Collateral Term Sheets furnished to the Company
pursuant to Section 9(a) constitute all of the materials
furnished to prospective investors by the Underwriter prior to
time of delivery thereof to the Company that are required to be
filed with the Commission as "Collateral Term Sheets" with
respect to the related Offered Certificates in accordance with
the PSA Letter, and such Collateral Term Sheets comply with the
requirements of the PSA Letter; and
(ii) On the date any such Collateral Term Sheets with
respect to such Offered Certificates were last furnished to each
prospective investor and on the date of delivery thereof to the
Company pursuant to Section 9(a) and on the related Closing Date,
such Collateral Term Sheets did not and will not include any
untrue statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading.
Notwithstanding the foregoing, the Underwriter makes no representation
or warranty as to whether any Collateral Term Sheet included or will
include any untrue statement or material omission resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by the
Underwriter from the Company of notice of such Corrected Mortgage Pool
Error or materials superseding or correcting such Corrected Mortgage
Pool Error).
(c) The Underwriter acknowledges and agrees that any Collateral
Term Sheets with respect to any Series of Certificates furnished to
prospective investors from and after the date hereof will have been
prepared and disseminated by the Underwriter and not by or on behalf
of the Company, and that such materials shall include a disclaimer in
form satisfactory to the Company to the effect set forth in Section
8(d) hereof, and to the effect that the information contained in such
materials supersedes the information contained in any prior Collateral
Term Sheet with respect to such Series of Offered Certificates and
will be superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of Form
8-K. The Underwriter agrees that it will not represent to prospective
investors that any Collateral Term Sheets were prepared or
disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the Offered
Certificates of a Series is required to be delivered under the Act, it
shall be necessary to amend or supplement the related Prospectus as a
result of an untrue statement of a material fact contained in any
Collateral Term Sheets provided by the Underwriter pursuant to this
Section 9 or the omission to state therein a material fact required,
when considered in conjunction with the related Prospectus and
Prospectus Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it shall
be necessary to amend or supplement any Current Report relating to any
Collateral Term Sheets to comply with the Act or the rules thereunder,
the Underwriter promptly will prepare and furnish to the Company for
filing with the Commission an amendment or supplement which will
correct such statement or omission or an amendment which will effect
such compliance. The Underwriter represents and warrants to the
Company, as of the date of delivery of such amendment or supplement to
the Company, that such amendment or supplement will not include any
untrue statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading; provided, however, the Underwriter
makes no representation or warranty as to whether any such amendment
or supplement will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to any such amendment or supplement prepared after
the receipt by the Underwriter from the Company of notice of such
Corrected Mortgage Pool Error or materials superseding or correcting
such Corrected Mortgage Pool Error). The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any untrue
statement of a material fact or, when read in conjunction with the
related Prospectus and Prospectus Supplement, omits to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however, that
the Company shall have no obligation to review or pass upon the
accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to this
paragraph (d) or (ii) such filing is not required under the Act.
10. Termination. This Agreement (with respect to a particular
Certificate Offering) and the related Terms Agreement shall be subject to
termination in the absolute discretion of the Underwriter, by notice given
to the Company prior to delivery of and payment for the related Offered
Certificates, if prior to the related Closing Date (i) trading in
securities generally on the New York Stock Exchange shall have been
suspended or materially limited, (ii) a general moratorium on commercial
banking activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred any
outbreak or material escalation of hostilities or other calamity or crisis
the effect of which on the financial markets of the United States is such
as to make it, in the reasonable judgment of the Underwriter, impracticable
to market such Offered Certificates.
11. Representations and Indemnities to Survive Delivery. The
agreements, representations, warranties, indemnities and other statements
of the Company or its officers and of the Underwriter set forth in or made
pursuant to this Agreement and the related Terms Agreement will remain in
full force and effect, regardless of any investigation made by or on behalf
of the Underwriter or the Company or any of the officers, directors or
controlling persons referred to in Section 7 hereof, and will survive
delivery of and payment for the related Offered Certificates. The
provisions of Section 7 hereof shall survive the termination or
cancellation of this Agreement and the related Terms Agreement.
12. Successors. This Agreement and the related Terms Agreement will
inure to the benefit of and be binding upon the parties hereto and thereto
and their respective successors and the officers, directors and controlling
persons referred to in Section 7 hereof, and their successors and assigns,
and no other person will have any right or obligation hereunder or
thereunder. No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED TERMS AGREEMENT
WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
THEREIN.
14. Miscellaneous. This Agreement, as supplemented by the related
Terms Agreement, supersedes all prior and contemporaneous agreements and
understandings relating to the subject matter hereof. This Agreement and
the related Terms Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written agreement made by
the party against whom enforcement of the change, waiver, discharge or
termination is sought. The headings in this Agreement and the related Terms
Agreement are for purposes of reference only and shall not limit or
otherwise affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in writing and
effective only on receipt, and, if sent to the Underwriter, will be
delivered to it at the address first above written; or if sent to the
Company, will be delivered to GE Capital Mortgage Services, Inc., Three
Executive Campus, Cherry Hill, New Jersey 08002, Attention: General
Counsel.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:______________________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of the date first
above written.
LEHMAN BROTHERS INC.
By:______________________________
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated May 22, 1996
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08002
Lehman Brothers Inc. (the "Underwriter") agrees, subject to the terms and
provisions herein and of the captioned Underwriting Agreement (the "Underwriting
Agreement"), to purchase such Classes of Series ____-__ Certificates specified
in Section 2(a) hereof (the "Offered Certificates"). This letter supplements and
modifies the Underwriting Agreement solely as it relates to the purchase and
sale of the Offered Certificates described below. The Series ____-__
Certificates are registered with the Securities and Exchange Commission by means
of an effective Registration Statement (No. 33-___). Capitalized terms used and
not defined herein have the meanings given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__ Certificates shall
evidence the entire beneficial ownership interest in a mortgage pool (the
"Mortgage Pool") of conventional, fixed rate, fully amortizing one- to
four-family residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool: $[ ] aggregate
principal balance as of the Cutoff Date, subject to [an upward or downward
variance of up to [ ]%, the precise aggregate principal balance to be
determined by the Company] [a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than $[ ] or greater
than $[ ]].
(b) Original Terms to Maturity: The original term to maturity of each
Mortgage Loan included in the Mortgage Pool shall be between ___ and ___
years.
Section 2. The Certificates: The Offered Certificates shall be issued as
follows:
(a) Classes: The Offered Certificates shall be issued with the
following Class designations, interest rates and principal balances,
subject in the aggregate to the variance referred to in Section 1(a)[and,
as to any particular Class, to an upward or downward variance of up to [
]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
(b) The Offered Certificates shall have such other characteristics as
described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each Class of the Offered
Certificates shall be the Class Purchase Price Percentage therefor (as set forth
in Section 2(a) above) of the initial Class Certificates Principal Balance
thereof plus accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____ (the "Closing
Date").
Section 4. Required Ratings: The Offered Certificates shall have received
Required Ratings of at least [ ] from [ ].
Section 5. Tax Treatment: [One or more elections will be made to treat the
assets of the Trust Fund as a REMIC.] [The Trust Fund will be treated as a
"grantor trust" for federal income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
LEHMAN BROTHERS INC.
By:_____________________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of the date first
above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_____________________________
Name:
Title:
<PAGE>
Execution
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1999-17
TERMS AGREEMENT
(to Underwriting Agreement,
dated May 22, 1996,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus August 25, 1999
Cherry Hill, NJ 08002
Lehman Brothers Inc. (the "Underwriter") agrees, subject to the terms and
provisions herein and of the captioned Underwriting Agreement (the "Underwriting
Agreement"), to purchase the Classes of Series 1999-17 Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This Terms Agreement
supplements and modifies the Underwriting Agreement solely as it relates to the
purchase and sale of the Offered Certificates described below. The Series
1999-17 Certificates are registered with the Securities and Exchange Commission
by means of an effective Registration Statement (Nos. 333-68951 and
333-68951-01). Capitalized terms used and not defined herein have the meanings
given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1999-17 Certificates shall
evidence the entire beneficial ownership interest in a mortgage pool (the
"Mortgage Pool") of conventional, fixed-rate, first-lien, fully-amortizing, one-
to four-family residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of August 1, 1999 (the "Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool: $351,446,953.44
aggregate principal balance as of the Cut-off Date, subject to a permitted
variance such that the aggregate original Certificate Principal Balance
will be not less than $332,500,000 or greater than $367,500,000.
(b) Original Terms to Maturity: The original term to maturity of
substantially all of the Mortgage Loans included in the Mortgage Pool shall
be between 20 and 30 years.
Section 2. The Certificates: The Offered Certificates shall be issued as
follows:
(a) Classes: The Offered Certificates shall be issued with the
following Class designations, interest rates and principal balances,
subject in the aggregate to the variance referred to in Section 1(a):
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class M $6,677,000.00 7.00% 93.296875%
Class B1 2,636,000.00 7.00 91.625000
Class B2 1,406,000.00 7.00 83.906250
(b) The Offered Certificates shall have such other characteristics as
described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each Class of the Offered
Certificates shall be the Class Purchase Price Percentage therefor (as set forth
in Section 2(a) above) of the initial Class Certificate Principal Balance
thereof plus accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, August 26, 1999 (the
"Closing Date").
Section 4. Required Ratings: The Class M, Class B1 and Class B2
Certificates shall have received Required Ratings of "AA," "A" and "BBB,"
respectively, from Fitch IBCA, Inc.
Section 5. Tax Treatment: One or more elections will be made to treat the
assets of the Trust Fund as a REMIC.
<PAGE>
If the foregoing is in accordance with your understanding of our agreement,
please sign and return to the undersigned a counterpart hereof, whereupon this
letter and your acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
LEHMAN BROTHERS INC.
By: _____________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By: _____________________________
Name:
Title:
================================================================================
GE CAPITAL MORTGAGE SERVICES, INC.,
Seller and Servicer
and
STATE STREET BANK AND TRUST COMPANY,
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of August 1, 1999
GE Capital Mortgage Services, Inc.,
1999-17 Trust
================================================================================
<PAGE>
49089/4
iv
Table of Contents
<TABLE>
<CAPTION>
Page
ARTICLE I
DEFINITIONS
<S> <C>
Section 1.01. Definitions.........................................................................................1
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans.......................................................................34
Section 2.02. Acceptance by Trustee..............................................................................38
Section 2.03. Representations and Warranties of the Company; Mortgage Loan Repurchase............................39
Section 2.04. Execution of Certificates..........................................................................44
Section 2.05. Designations under the REMIC Provisions............................................................44
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer.........................................................................45
Section 3.02. Collection of Certain Mortgage Loan Payments; Mortgage Loan Payment Record; Certificate Account....48
Section 3.03. Collection of Taxes, Assessments and Other Items...................................................51
Section 3.04. Permitted Debits to the Mortgage Loan Payment Record...............................................51
Section 3.05. Maintenance of the Primary Insurance Policies......................................................53
Section 3.06. Maintenance of Hazard Insurance....................................................................53
Section 3.07. Assumption and Modification Agreements.............................................................54
Section 3.08. Realization Upon Defaulted Mortgage Loans..........................................................55
Section 3.09. Trustee to Cooperate; Release of Mortgage Files....................................................57
Section 3.10. Servicing Compensation; Payment of Certain Expenses by the Company.................................58
Section 3.11. Reports to the Trustee.............................................................................59
Section 3.12. Annual Statement as to Compliance..................................................................59
Section 3.13. Annual Independent Public Accountants' Servicing Report............................................59
Section 3.14. Access to Certain Documentation and Information Regarding the Mortgage Loans.......................59
Section 3.15. Maintenance of Certain Servicing Policies..........................................................60
Section 3.16. Optional Purchase of Defaulted Mortgage Loans......................................................60
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions......................................................................................60
Section 4.02. Method of Distribution.............................................................................65
Section 4.03. Allocation of Losses...............................................................................66
Section 4.04. Monthly Advances; Purchases of Defaulted Mortgage Loans............................................68
Section 4.05. Statements to Certificateholders...................................................................69
Section 4.06. Servicer's Certificate.............................................................................71
Section 4.07. Reports of Foreclosures and Abandonments of Mortgaged Property.....................................71
Section 4.08. Reduction of Servicing Fees by Compensating Interest Payments......................................71
Section 4.09. Surety Bond........................................................................................71
Section 4.10. Distributions to Holders of Designated Retail Certificates.........................................71
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates...................................................................................76
Section 5.02. Registration of Transfer and Exchange of Certificates..............................................78
Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates..................................................83
Section 5.04. Persons Deemed Owners..............................................................................84
Section 5.05. Access to List of Certificateholders' Names and Addresses..........................................84
Section 5.06. Representation of Certain Certificateholders.......................................................84
Section 5.07. Determination of COFI..............................................................................84
Section 5.08. Determination of LIBOR.............................................................................85
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company...........................................................................86
Section 6.02. Merger or Consolidation of, or Assumption of the Obligations of, the Company.......................86
Section 6.03. Assignment.........................................................................................87
Section 6.04. Limitation on Liability of the Company and Others..................................................87
Section 6.05. The Company Not to Resign..........................................................................88
ARTICLE VII
DEFAULT
Section 7.01. Events of Default..................................................................................88
Section 7.02. Trustee to Act; Appointment of Successor...........................................................89
Section 7.03. Notification to Certificateholders.................................................................90
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee..................................................................................90
Section 8.02. Certain Matters Affecting the Trustee..............................................................91
Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans..............................................92
Section 8.04. Trustee May Own Certificates.......................................................................93
Section 8.05. The Company to Pay Trustee's Fees and Expenses.....................................................93
Section 8.06. Eligibility Requirements for Trustee...............................................................93
Section 8.07. Resignation or Removal of Trustee..................................................................93
Section 8.08. Successor Trustee..................................................................................94
Section 8.09. Merger or Consolidation of Trustee.................................................................95
Section 8.10. Appointment of Co-Trustee or Separate Trustee......................................................95
Section 8.11. Compliance with REMIC Provisions; Tax Returns......................................................96
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the Company or Liquidation of All Mortgage Loans....................96
Section 9.02. Additional Termination Requirements................................................................98
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment.........................................................................................98
Section 10.02. Recordation of Agreement..........................................................................99
Section 10.03. Limitation on Rights of Certificateholders.......................................................100
Section 10.04. Governing Law....................................................................................100
Section 10.05. Notices..........................................................................................100
Section 10.06. Notices to the Rating Agencies...................................................................101
Section 10.07. Severability of Provisions.......................................................................101
Section 10.08. Certificates Nonassessable and Fully Paid........................................................101
</TABLE>
<PAGE>
Exhibits
EXHIBIT A Forms of Certificates
EXHIBIT B Principal Balance Schedules
EXHIBIT C Mortgage Loans (including list of Cooperative Loans)
EXHIBIT D Form of Servicer's Certificate
EXHIBIT E Form of Transfer Certificate as to ERISA Matters for
Definitive ERISA-Restricted Certificates
EXHIBIT F Form of Residual Certificate Transferee Affidavit
EXHIBIT G Form of Residual Certificate Transferor Letter
EXHIBIT H Additional Servicer Compensation
EXHIBIT I Form of Investment Letter for Definitive Restricted Certificates
EXHIBIT J Form of Distribution Date Statement
EXHIBIT K Form of Special Servicing and Collateral Fund Agreement
EXHIBIT L Form of Lost Note Affidavit and Agreement
EXHIBIT M Schedule of Designated Loans
EXHIBIT N Schedule of Pledged Asset Mortgage Loans
EXHIBIT O Senior Principal Priorities
<PAGE>
THIS POOLING AND SERVICING AGREEMENT, dated as of August 1, 1999, between
GE CAPITAL MORTGAGE SERVICES, INC., a corporation organized and existing under
the laws of the State of New Jersey, and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts banking corporation, as Trustee.
W I T N E S S E T H T H A T:
------------------------------
In consideration of the mutual agreements herein contained, GE Capital
Mortgage Services, Inc. and State Street Bank and Trust Company agree as
follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. Whenever used in this Agreement, the following
words and phrases, unless the context otherwise requires, shall have the
following meanings:
Accretion Directed Certificate: Any Class A4 or Class A6 Certificate.
Accretion Directed Component: None.
Accretion Termination Date: With respect to the Class A5
Certificates, the earlier to occur of (1) the Distribution Date on
which the Class Certificate Principal Balance of the Class A4
Certificates has been reduced to zero and (2) the Cross-Over Date.
Accrual Amount: As to any Class of Accrual Certificates and
any Accrual Component and each Distribution Date through the related
Accretion Termination Date, the sum of (x) any amount of Accrued
Certificate Interest allocable to such Class or Component pursuant to
Section 4.01(a)(i) on such Distribution Date and (y) any amount of
Unpaid Class Interest Shortfall allocable to such Class or Component
pursuant to Section 4.01(a)(ii) on such Distribution Date, to the
extent that such amounts are distributed to any Accretion Directed
Certificates and any Accretion Directed Components pursuant to Section
4.01(e). As to any Class of Accrual Certificates and any Accrual
Component and each Distribution Date after the related Accretion
Termination Date, zero.
Accrual Certificates: Any Class A5 Certificate.
Accrual Component: None.
Accrued Certificate Interest: As to any Distribution Date and any
Class of Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of Specified
Components), interest accrued during the related Interest Accrual
Period at the applicable Certificate Interest Rate on the Class
Certificate Principal Balance (or, in the case of any Class of
Notional Certificates other than the Class S Certificates, on the
aggregate Notional Principal Balance) thereof immediately prior to
(or, in the case of the Class S Certificates, on the aggregate
Notional Principal Balance thereof with respect to) such Distribution
Date, calculated on the basis of a 360-day year consisting of twelve
30-day months. As to any Distribution Date and any Specified Component
(other than any Principal Only Component), interest accrued during the
related Interest Accrual Period at the applicable Component Interest
Rate on the Component Principal Balance (or Notional Component
Principal Balance) thereof immediately prior to such Distribution
Date, calculated on the basis of a 360-day year consisting of twelve
30-day months. As to any Distribution Date and any Class of
Certificates consisting of Specified Components, the aggregate of
Accrued Certificate Interest on such Specified Components for such
Distribution Date.
Accrued Certificate Interest on each Class of Certificates
(other than any Class of Principal Only Certificates and any Class of
Certificates consisting of Specified Components) and any Specified
Component (other than any Principal Only Component) shall be reduced by
such Class's or Specified Component's share of the amount of any Net
Interest Shortfall and Interest Losses for such Distribution Date. Any
Net Interest Shortfall and Interest Losses shall be allocated among (x)
the Classes of Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of Specified
Components) and (y) the Specified Components (other than any Principal
Only Component) of any Component Certificate in proportion to the
respective amounts of Accrued Certificate Interest that would have
resulted absent such shortfall or losses.
Additional Collateral: With respect to any Mortgage 100SM Loan,
the marketable securities held from time to time as security for the
repayment of such Mortgage 100SM Loan and any related collateral. With
respect to any Parent PowerSM Loan, the third-party guarantee for such
Parent PowerSM Loan, together with (i) any marketable securities held
from time to time as security for the performance of such guarantee
and any related collateral or (ii) any mortgaged property securing the
performance of such guarantee, the related home equity line of credit
loan and any related collateral.
Agreement: This Pooling and Servicing Agreement and all
amendments hereof and supplements hereto.
Allocable Share: (a) As to any Distribution Date and amounts
distributable pursuant to clauses (i) and (iii) of the definition of
Junior Optimal Principal Amount, and as to each Class of Junior
Certificates, the fraction, expressed as a percentage, the numerator
of which is the Class Certificate Principal Balance of such Class and
the denominator of which is the aggregate Class Certificate Principal
Balance of the Junior Certificates.
(b) As to any Distribution Date and amounts distributable
pursuant to clauses (ii), (iv) and (v) of the definition of Junior
Optimal Principal Amount, and as to the Class M Certificates and each
Class of Class B Certificates for which the related Prepayment
Distribution Trigger has been satisfied on such Distribution Date, the
fraction, expressed as a percentage, the numerator of which is the
Class Certificate Principal Balance of such Class and the denominator
of which is the aggregate Class Certificate Principal Balance of all
such Classes. As to any Distribution Date and each Class of Class B
Certificates for which the related Prepayment Distribution Trigger has
not been satisfied on such Distribution Date, 0%.
Amortization Payment: As to any REO Mortgage Loan and any month,
the payment of principal and accrued interest due in such month in
accordance with the terms of the related Mortgage Note as contemplated
by Section 3.08(b).
Amount Held for Future Distribution: As to each Distribution
Date, the total of all amounts credited to the Mortgage Loan Payment
Record as of the preceding Determination Date on account of (i)
Principal Prepayments, Insurance Proceeds and Liquidation Proceeds
received subsequent to the preceding Prepayment Period applicable to
such receipts, and (ii) monthly payments of principal and interest due
subsequent to the preceding Due Date.
Anniversary Determination Date: The Determination Date occurring
in September of each year that the Certificates are outstanding,
commencing in September 2000.
Assignment of Proprietary Lease: With respect to a Cooperative
Loan, the assignment of the related Proprietary Lease from the
Mortgagor to the originator of the Cooperative Loan.
Assumed Monthly Payment Reduction: As of any Anniversary
Determination Date and as to any Non-Primary Residence Loan remaining
in the Mortgage Pool whose original principal balance was 80% or
greater of the Original Value thereof, the excess of (i) the Monthly
Payment thereof calculated on the assumption that the Mortgage Rate
thereon was equal to the weighted average (by principal balance) of
the Net Mortgage Rates of all Outstanding Mortgage Loans (the
"Weighted Average Rate") as of such Anniversary Determination Date
over (ii) the Monthly Payment thereof calculated on the assumption
that the Net Mortgage Rate thereon was equal to the Weighted Average
Rate less 1.25% per annum.
Available Funds: As to each Distribution Date, an amount equal to
the sum of (i) all amounts credited to the Mortgage Loan Payment
Record pursuant to Section 3.02 as of the preceding Determination
Date, (ii) any Monthly Advance and any Compensating Interest Payment
for such Distribution Date, (iii) the Purchase Price of any Defective
Mortgage Loans and Defaulted Mortgage Loans deposited in the
Certificate Account on the Business Day preceding such Distribution
Date (including any amounts deposited in the Certificate Account in
connection with any substitution of a Mortgage Loan as specified in
Section 2.03(b)), and (iv) the purchase price of any defaulted
Mortgage Loan purchased under an agreement entered into pursuant to
Section 3.08(e) as of the end of the preceding Prepayment Period less
the sum of (x) the Amount Held for Future Distribution, (y) the amount
of any Unanticipated Recovery credited to the Mortgage Loan Payment
Record pursuant to clause (vi) of Section 3.02(b), and (z) amounts
permitted to be debited from the Mortgage Loan Payment Record pursuant
to clauses (i) through (vii) and (ix) of Section 3.04.
Bankruptcy Coverage Termination Date: The Distribution Date upon
which the Bankruptcy Loss Amount has been reduced to zero or a
negative number (or the Cross-Over Date, if earlier).
Bankruptcy Loss Amount: As of any Determination Date prior to the
first Anniversary Determination Date, the Bankruptcy Loss Amount shall
equal $135,910, as reduced by the aggregate amount of Deficient
Valuations and Debt Service Reductions since the Cut-off Date. As of
any Determination Date after the first Anniversary Determination Date,
other than an Anniversary Determination Date, the Bankruptcy Loss
Amount shall equal the Bankruptcy Loss Amount on the immediately
preceding Anniversary Determination Date as reduced by the aggregate
amount of Deficient Valuations and Debt Service Reductions since such
preceding Anniversary Determination Date. As of any Anniversary
Determination Date, the Bankruptcy Loss Amount shall equal the lesser
of (x) the Bankruptcy Loss Amount as of the preceding Determination
Date as reduced by any Deficient Valuations and Debt Service
Reductions for the preceding Distribution Date, and (y) the greater of
(i) the Fitch Formula Amount for such Anniversary Determination Date
and (ii) the Formula Amount for such Anniversary Determination Date.
The Bankruptcy Loss Amount may be further reduced by the Company
(including accelerating the manner in which such coverage is reduced)
provided that prior to any such reduction, the Company shall obtain
written confirmation from each Rating Agency that such reduction shall
not adversely affect the then-current rating assigned to the related
Classes of Certificates by such Rating Agency and shall provide a copy
of such written confirmation to the Trustee.
BBA: The British Bankers' Association.
BIF: The Bank Insurance Fund of the FDIC, or its successor in
interest.
Book-Entry Certificate: Any Certificate registered in the name
of the Depository or its nominee, ownership of which is reflected on
the books of the Depository or on the books of a person maintaining an
account with such Depository (directly or as an indirect participant in
accordance with the rules of such Depository). As of the Closing Date,
each Class of Certificates, other than the Class B3, Class B4, Class
B5, Class R, Class PO and Class S Certificates, constitutes a Class of
Book-Entry Certificates.
Book-Entry Nominee: As defined in Section 5.02(b).
Business Day: Any day other than a Saturday or a Sunday, or a
day on which banking institutions in New York City or the city in which
the Corporate Trust Office is located are authorized or obligated by
law or executive order to be closed.
Buydown Funds: Funds contributed by the Mortgagor or another
source in order to reduce the interest payments required from the
Mortgagor for a specified period in specified amounts.
Buydown Mortgage Loan: Any Mortgage Loan as to which the
Mortgagor pays less than the full monthly payment specified in the
Mortgage Note during the Buydown Period and the difference between the
amount paid by the Mortgagor and the amount specified in the Mortgage
Note is paid from the related Buydown Funds.
Buydown Period: The period during which Buydown Funds are
required to be applied to the related Buydown Mortgage Loan.
Certificate: Any one of the certificates signed and countersigned
by the Trustee in substantially the forms attached hereto as Exhibit
A.
Certificate Account: The trust account or accounts created and
maintained with the Trustee pursuant to Section 3.02 and which must be
an Eligible Account.
Certificate Interest Rate: With respect to any Class of
Certificates, other than the Class S Certificates or any LIBOR
Certificates, and as of any Distribution Date, the per annum rate
specified or described in Section 5.01(b). With respect to any Class
of LIBOR Certificates, the per annum variable rate at any time at
which interest accrues on the Certificates of such Class, as
determined pursuant to Section 5.01(f). With respect to the Class S
Certificates and any Distribution Date, the Strip Rate for such
Distribution Date.
Certificate Owner: With respect to any Book-Entry Certificate,
the person who is the beneficial owner thereof.
Certificate Principal Balance: As to any Certificate other than a
Notional Certificate, and as of any Distribution Date, the Initial
Certificate Principal Balance of such Certificate (plus, in the case
of any Accrual Certificate, its Percentage Interest of any related
Accrual Amount for each previous Distribution Date) less the sum of
(i) all amounts distributed with respect to such Certificate in
reduction of the Certificate Principal Balance thereof on previous
Distribution Dates pursuant to Section 4.01, (ii) any Realized Losses
allocated to such Certificate on previous Distribution Dates pursuant
to Section 4.03(b) and (c), and (iii) in the case of a Subordinate
Certificate, such Certificate's Percentage Interest of the Subordinate
Certificate Writedown Amount allocated to such Certificate on previous
Distribution Dates. The Notional Certificates are issued without
Certificate Principal Balances.
Certificate Register and Certificate Registrar: The register
maintained and the registrar appointed pursuant to Section 5.02.
Certificateholder or Holder: The person in whose name a
Certificate is registered in the Certificate Register, except that,
solely for the purposes of giving any consent pursuant to this
Agreement, a Certificate of any Class to the extent that the Company
or any affiliate is the Certificate Owner or Holder thereof (except to
the extent the Company or any affiliate thereof shall be the
Certificate Owner or Holder of all Certificates of such Class), shall
be deemed not to be outstanding and the Percentage Interest (or Voting
Rights) evidenced thereby shall not be taken into account in
determining whether the requisite amount of Percentage Interests (or
Voting Rights) necessary to effect any such consent has been obtained;
provided, however, that in determining whether the Trustee shall be
protected in relying on such consent only the Certificates that the
Trustee knows to be so held shall be so disregarded.
Class: All Certificates bearing the same class designation.
Class A3 Percentage: With respect to any Distribution Date, the
percentage (carried to six decimal places rounded up) obtained by
dividing (x) the aggregate Certificate Principal Balance of the Class
A3 Certificates immediately preceding such Distribution Date, by (y)
the aggregate Certificate Principal Balance of all the Certificates
(other than the Class PO Certificates) immediately preceding such
Distribution Date.
Class A3 Prepayment Distribution Percentage: 0% through the
Distribution Date in August 2004; 30% thereafter through the
Distribution Date in August 2005; 40% thereafter through the
Distribution Date in August 2006; 60% thereafter through the
Distribution Date in August 2007; 80% thereafter through the
Distribution Date in August 2008; and 100% thereafter.
Class A3 Principal Distribution Amount: With respect to any
Distribution Date, the sum of (a) the total of the amounts described
in clauses (i) and (iii) of the definition of Senior Optimal Principal
Amount for such date (determined without application of the Senior
Percentage or the Senior Prepayment Percentage) multiplied by the
Class A3 Scheduled Distribution Percentage for such date and (b) the
total of the amounts described in clauses (ii), (iv) and (v) of the
definition of Senior Optimal Principal Amount (determined without
application of the Senior Prepayment Percentage) for such date
multiplied by the product of (x) the Class A3 Percentage for such date
and (y) the Class A3 Prepayment Distribution Percentage for such date;
provided, however, that (i) on the Group I Final Distribution Date,
the Class A3 Principal Distribution Amount will be increased by any
portion of the Senior Optimal Principal Amount remaining after
distributions of principal have been made on the Group I Senior
Certificates and (ii) following the Group I Final Distribution Date,
the Class A3 Principal Distribution Amount will equal the Senior
Optimal Principal Amount.
Class A3 Scheduled Distribution Percentage: With respect to any
Distribution Date through the Distribution Date in August 2004, 0%.
The Class A3 Scheduled Distribution Percentage for any Distribution
Date after the Distribution Date in August 2004 will equal the Class
A3 Percentage for such Distribution Date.
Class B Certificate: Any Class B1, Class B2, Class B3, Class B4
or Class B5 Certificate.
Class Certificate Principal Balance: As to any Class of
Certificates, other than any Class of Notional Certificates, and as of
any date of determination, the aggregate of the Certificate Principal
Balances of all Certificates of such Class. The Class Certificate
Principal Balance of each such Class of Certificates as of the Closing
Date is specified in Section 5.01(b).
Class Interest Shortfall: As to any Distribution Date and any
Class of Certificates (other than any Class of Principal Only
Certificates or any Class consisting of Specified Components) or any
Specified Component, any amount by which the amount distributed to
Holders of such Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal Balance of any
Class of Accrual Certificates or to the Component Principal Balance of
any Accrual Component constituting a Specified Component) on such
Distribution Date pursuant to Sections 4.01(a)(i), (a)(v), (a)(viii),
(a)(xi), (a)(xiv), (a)(xvii) or (a)(xx), as applicable), is less than
the Accrued Certificate Interest thereon or in respect thereof for
such Distribution Date. As to any Distribution Date and any Class of
Certificates consisting of Specified Components, the sum of the Class
Interest Shortfalls for such Components on such date.
Class PO Deferred Amount: As to any Distribution Date on or
prior to the Cross-Over Date, the aggregate of the applicable PO
Percentage of the principal portion of each Realized Loss, other than
any Excess Loss, to be allocated to the Class PO Certificates on such
Distribution Date or previously allocated to the Class PO Certificates
and not yet paid to the Holders of the Class PO Certificates pursuant
to Section 4.01(a)(iv).
Class PO Principal Distribution Amount: As to any Distribution
Date, an amount equal to the sum of the applicable PO Percentage of:
(i) the principal portion of each Monthly Payment due on the
related Due Date on each Outstanding Mortgage Loan as of such Due Date
as specified in the amortization schedule at the time applicable
thereto (after adjustments for previous Principal Prepayments and the
principal portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any adjustment to such
amortization schedule by reason of any bankruptcy (except as
aforesaid) or similar proceeding or any moratorium or similar waiver
or grace period);
(ii) all principal prepayments in part received during the
related Prepayment Period, together with the Scheduled Principal
Balance (as reduced by any Deficient Valuation occurring on or prior
to the Bankruptcy Coverage Termination Date) of each Mortgage Loan
which was the subject of a Voluntary Principal Prepayment in full
during the related Prepayment Period;
(iii) the sum of (A) all Net Liquidation Proceeds allocable to
principal received in respect of each Mortgage Loan that became a
Liquidated Mortgage Loan during the related Prepayment Period (other
than Mortgage Loans described in clause (B)) and (B) the principal
balance of each Mortgage Loan purchased by an insurer from the Trustee
pursuant to the related Primary Insurance Policy, in each case during
the related Prepayment Period;
(iv) the Scheduled Principal Balance (as reduced by any Deficient
Valuation occurring on or prior to the Bankruptcy Coverage Termination
Date) of each Mortgage Loan which was purchased on such Distribution
Date pursuant to Section 2.02, 2.03(a) or 3.16; and
(v) the Substitution Amount for any Mortgage Loan substituted
during the month of such Distribution Date; for purposes of this
clause (v), the definition of "Substitution Amount" shall be modified
to reduce the Scheduled Principal Balance of the Mortgage Loan that is
substituted for by any Deficient Valuation occurring on or prior to
the Bankruptcy Coverage Termination Date.
For purposes of clause (ii) above, a Voluntary Principal
Prepayment in full with respect to a Mortgage Loan serviced by a
Primary Servicer shall be deemed to have been received when the
Company, as servicer, receives notice thereof.
Closing Date: August 26, 1999.
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.
COFI: The monthly weighted average cost of funds for savings
institutions the home offices of which are located in Arizona,
California, or Nevada that are member institutions of the Eleventh
Federal Home Loan Bank District, as computed from statistics tabulated
and published by the Federal Home Loan Bank of San Francisco in its
monthly Information Bulletin.
COFI Certificates: None.
COFI Determination Date: As to each Interest Accrual Period for
any COFI Certificates, the last Business Day of the calendar month
preceding the commencement of such Interest Accrual Period.
Company: GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey, or
its successor in interest or, if any successor servicer is appointed
as herein provided, then such successor servicer.
Compensating Interest Payment: With respect to any Distribution
Date, an amount equal to the aggregate of the Interest Shortfalls
described in clauses (a) and (b) of the definition thereof with
respect to such Distribution Date; provided, however, that such amount
shall not exceed the lesser of (i) an amount equal to the product of
(x) the Pool Scheduled Principal Balance with respect to such
Distribution Date and (y) one-twelfth of 0.125%, and (ii) the
aggregate of the Servicing Fees that the Company would be entitled to
retain on such Distribution Date (less any portion thereof paid as
servicing compensation to any Primary Servicer) without giving effect
to any Compensating Interest Payment.
Component: Any of the components of a Class of Component
Certificates having the designations and the initial Component
Principal Balances as follows:
Initial Component
Designation Principal Balance
----------- -----------------
N/A N/A
Component Certificate: None.
Component Interest Rate: None.
Component Principal Balance: As of any Distribution Date, and
with respect to any Component, other than any Notional Component, the
initial Component Principal Balance thereof (as set forth, as
applicable, in the definition of Component) (plus, in the case of any
Accrual Component, any related Accrual Amount for each previous
Distribution Date) less the sum of (x) all amounts distributed in
reduction thereof on previous Distribution Dates pursuant to Section
4.01 and (y) the amount of all Realized Losses allocated thereto
pursuant to Section 4.03(d).
Confirmatory Mortgage Note: With respect to any Mortgage Loan, a
note or other evidence of indebtedness executed by the Mortgagor
confirming its obligation under the note or other evidence of
indebtedness previously executed by the Mortgagor upon the origination
of the related Mortgage Loan.
Cooperative: A private, cooperative housing corporation organized
in accordance with applicable state laws which owns or leases land and
all or part of a building or buildings located in the relevant state,
including apartments, spaces used for commercial purposes and common
areas therein and whose board of directors authorizes, among other
things, the sale of Cooperative Stock.
Cooperative Apartment: A dwelling unit in a multi-dwelling
building owned or leased by a Cooperative, which unit the Mortgagor
has an exclusive right to occupy pursuant to the terms of one or more
Proprietary Leases.
Cooperative Loans: Any of the Mortgage Loans made in respect of a
Cooperative Apartment, evidenced by a Mortgage Note and secured by (i)
a Security Agreement, (ii) the related Cooperative Stock
Certificate(s), (iii) an assignment of the Proprietary Lease(s), (iv)
financing statements and (v) a stock power (or other similar
instrument), and in addition thereto, a recognition agreement between
the Cooperative and the originator of the Cooperative Loan, each of
which was transferred and assigned to the Trustee pursuant to Section
2.01 and are from time to time held as part of the Trust Fund. The
Mortgage Loans identified as such in Exhibit C hereto are Cooperative
Loans.
Cooperative Stock: With respect to a Cooperative Loan, the single
outstanding class of stock, partnership interest or other ownership
instrument in the related Cooperative.
Cooperative Stock Certificate: With respect to a Cooperative
Loan, the stock certificate(s) or other instrument evidencing the
related Cooperative Stock.
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 225 Franklin Street, Boston, Massachusetts
02110, Attention: Corporate Trust Department.
Cross-Over Date: The first Distribution Date on which the
aggregate Class Certificate Principal Balance of the Junior
Certificates has been reduced to zero (giving effect to all
distributions on such Distribution Date).
Cut-off Date: August 1, 1999.
Debt Service Reduction: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then current Monthly Payment
for such Mortgage Loan over (b) the amount of the monthly payment of
principal and interest required to be paid by the Mortgagor as
established by a court of competent jurisdiction as a result of a
proceeding initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.).
Deceased Holder: With respect to a Holder of any Designated
Retail Certificate, as defined in Section 4.10(b).
Defaulted Mortgage Loan: With respect to any Determination Date,
a Mortgage Loan as to which the related Mortgagor has failed to make
unexcused payment in full of a total of three or more consecutive
installments of principal and interest, and as to which such
delinquent installments have not been paid, as of the close of
business on the last Business Day of the month next preceding the
month of such Determination Date.
Defective Mortgage Loan: Any Mortgage Loan which is required to
be purchased by the Company (or which the Company may replace with a
substitute Mortgage Loan) pursuant to Section 2.02 or 2.03(a).
Deficient Valuation: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then outstanding
indebtedness under such Mortgage Loan over (b) the valuation by a
court of competent jurisdiction of the related Mortgaged Property as a
result of a proceeding initiated by or against the related Mortgagor
under the Bankruptcy Code, as amended from time to time (11 U.S.C.),
pursuant to which such Mortgagor retained such Mortgaged Property.
Definitive Certificate: Any Certificate, other than a Book-Entry
Certificate, issued in definitive, fully registered form.
Definitive Restricted Junior Certificate: Any Restricted Junior
Certificate that is in the form of a Definitive Certificate.
Depository: The initial Depository shall be The Depository Trust
Company, the nominee of which is CEDE & Co. The Depository shall at
all times be a "clearing corporation" as defined in Section
8-102(a)(5) of the Uniform Commercial Code of the State of New York,
as amended, or any successor provisions thereto.
Depository Participant: A broker, dealer, bank or other financial
institution or other Person for which, from time to time, the
Depository effects book-entry transfers and pledges of securities
deposited with such Depository.
Designated Loan Closing Documents: With respect to any Designated
Loan, a Lost Note Affidavit substantially in the form of Exhibit L,
and an assignment of the related Mortgage to the Trustee in recordable
form (except for the omission therein of recording information
concerning such Mortgage).
Designated Loans: The Mortgage Loans listed in Exhibit M hereto.
Designated Maturity: Thirty years.
Designated Rate: 7.00% per annum.
Designated Retail Certificate: None.
Designated Telerate Page: The Dow Jones Telerate Service page
3750 (or such other page as may replace page 3750 on that service or
such other service as may be nominated by the BBA for the purpose of
displaying the Interest Settlement Rates).
Determination Date: With respect to any Distribution Date, the
fifth Business Day prior thereto.
Discount Mortgage Loan: Any Mortgage Loan with a Net Mortgage
Rate less than the Designated Rate.
Disqualified Organization: Any of the following: (i) the United
States, any State or political subdivision thereof, or any agency or
instrumentality of any of the foregoing (including but not limited to
state pension organizations); (ii) a foreign government, International
Organization or any agency or instrumentality of either of the
foregoing; (iii) an organization (except certain farmers' cooperatives
described in Code section 521) which is exempt from tax imposed by
Chapter 1 of the Code (including the tax imposed by section 511 of the
Code on unrelated business taxable income); and (iv) a rural electric
and telephone cooperative described in Code section 1381(a)(2)(C). The
terms "United States," "State" and "International Organization" shall
have the meanings set forth in Code section 7701 or successor
provisions. A corporation will not be treated as an instrumentality of
the United States or of any State or political subdivision thereof for
these purposes if all of its activities are subject to tax and a
majority of its board of directors is not selected by such
governmental unit.
Distribution Date: The 25th day of each calendar month after the
month of initial issuance of the Certificates, or, if such 25th day is
not a Business Day, the next succeeding Business Day.
Distribution Date Statement: The statement referred to in Section
4.05(a).
Document File: As defined in Section 2.01.
Due Date: The first day of the month of the related Distribution
Date.
Eligible Account: An account that is either (i) maintained with a
depository institution the debt obligations of which have been rated
by each Rating Agency in one of its two highest long-term rating
categories and has been assigned by S&P its highest short-term rating,
(ii) an account or accounts the deposits in which are fully insured by
either the BIF or the SAIF, (iii) an account or accounts, in a
depository institution in which such accounts are insured by the BIF
or the SAIF (to the limits established by the FDIC), the uninsured
deposits in which accounts are either invested in Permitted
Investments or are otherwise secured to the extent required by the
Rating Agencies such that, as evidenced by an Opinion of Counsel
delivered to the Trustee, the Certificateholders have a claim with
respect to the funds in such account or a perfected first security
interest against any collateral (which shall be limited to Permitted
Investments) securing such funds that is superior to claims of any
other depositors or creditors of the depository institution with which
such account is maintained, (iv) a trust account maintained with the
corporate trust department of a federal or state chartered depository
institution or of a trust company with trust powers and acting in its
fiduciary capacity for the benefit of the Trustee hereunder or (v)
such account as will not cause either Rating Agency to downgrade or
withdraw its then-current rating assigned to the Certificates, as
evidenced in writing by the Rating Agencies.
ERISA: The Employee Retirement Income Security Act of 1974, as
amended.
ERISA-Restricted Certificate: Any Junior Certificate.
Event of Default: An event described in Section 7.01.
Excess Bankruptcy Loss: Any Deficient Valuation or Debt Service
Reduction, or portion thereof, (i) occurring after the Bankruptcy
Coverage Termination Date or (ii) if on such date, in excess of the
then-applicable Bankruptcy Loss Amount.
Excess Fraud Loss: Any Fraud Loss, or portion thereof, (i)
occurring after the Fraud Coverage Termination Date or (ii) if on such
date, in excess of the then-applicable Fraud Loss Amount.
Excess Loss: Any Excess Bankruptcy Loss, Excess Fraud Loss or
Excess Special Hazard Loss.
Excess Special Hazard Loss: Any Special Hazard Loss, or portion
thereof, (i) occurring after the Special Hazard Termination Date or
(ii) if on such date, in excess of the then-applicable Special Hazard
Loss Amount.
FDIC: The Federal Deposit Insurance Corporation, or its successor
in interest.
FHLMC: The Federal Home Loan Mortgage Corporation or its
successor in interest.
Financial Intermediary: A broker, dealer, bank or other financial
institution or other Person that clears through or maintains a
custodial relationship with a Depository Participant.
Fitch: Fitch IBCA, Inc. and its successors.
Fitch Formula Amount: As to each Anniversary Determination Date,
the greater of (i) $50,000 and (ii) the product of (x) the greatest
Assumed Monthly Payment Reduction for any Non-Primary Residence Loan
whose original principal balance was 80% or greater of the Original
Value thereof, (y) the weighted average remaining term to maturity
(expressed in months) of all the Non-Primary Residence Loans remaining
in the Mortgage Pool as of such Anniversary Determination Date, and
(z) the sum of (A) one plus (B) the number of all remaining
Non-Primary Residence Loans divided by the total number of Outstanding
Mortgage Loans as of such Anniversary Determination Date.
FNMA: The Federal National Mortgage Association or its successor
in interest.
Formula Amount: As to each Anniversary Determination Date, the
greater of (i) $100,000 and (ii) the product of (x) 0.06% and (y) the
Scheduled Principal Balance of each Mortgage Loan remaining in the
Mortgage Pool whose original principal balance was 75% or greater of
the Original Value thereof.
Fraud Coverage Termination Date: The Distribution Date upon
which the related Fraud Loss Amount has been reduced to zero or a
negative number (or the Cross-Over Date, if earlier).
Fraud Loss: Any Realized Loss attributable to fraud in the
origination of the related Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after the Cut-off
Date, (x) prior to the first anniversary of the Cut-off Date, an
amount equal to $3,514,470 minus the aggregate amount of Fraud Losses
that would have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss Allocation
Limitation since the Cut-off Date, and (y) from the first to the 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% (from the first to but excluding the third
anniversaries of the Cut-off Date) or 0.5% (from and including the
third to but excluding the fifth anniversaries of the Cut-off Date) 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 that would have been allocated to the Junior
Certificates in accordance with Section 4.03 in the absence of the
Loss Allocation Limitation since the most recent anniversary of the
Cut-off Date. On or after the fifth anniversary of the Cut-off Date
the Fraud Loss Amount shall be zero.
Group I Final Distribution Date: The Distribution Date on which
the aggregate Certificate Principal Balance of the Group I Senior
Certificates is reduced to zero.
Group I Senior Certificate: Any Class A1, Class A2, Class A4,
Class A5, Class A6, Class A7, Class A8, Class A9, Class A10, Class
A11, Class A12 or Class R Certificate.
Initial Certificate Principal Balance: With respect to any
Certificate, other than a Notional Certificate, the Certificate
Principal Balance of such Certificate or any predecessor Certificate
on the Closing Date.
Initial LIBOR Rate: None.
Insurance Proceeds: Proceeds paid pursuant to the Primary
Insurance Policies, if any, and amounts paid by any insurer pursuant
to any other insurance policy covering a Mortgage Loan.
Insured Expenses: Expenses covered by the Primary Insurance
Policies, if any, or any other insurance policy or policies applicable
to the Mortgage Loans.
Interest Accrual Period: With respect to any Distribution Date
and any Class of Certificates (other than any Class of Principal Only
Certificates) or Component, the one-month period ending on the last
day of the month preceding the month in which such Distribution Date
occurs.
Interest Losses: The interest portion of (i) on or prior to the
Cross-Over Date, any Excess Losses and (ii) after the Cross-Over Date,
any Realized Losses and Debt Service Reductions.
Interest Settlement Rate: With respect to any Interest Accrual
Period, the rate (expressed as a percentage per annum) for one-month
U.S. Dollar deposits reported by the BBA at 11:00 a.m. London time on
the related LIBOR Determination Date and as it appears on the
Designated Telerate Page.
Interest Shortfall: With respect to any Distribution Date and
each Mortgage Loan that during the related Prepayment Period was the
subject of a Voluntary Principal Prepayment or constitutes a Relief
Act Mortgage Loan, an amount determined as follows:
(A) partial principal prepayments: one month's interest at
the applicable Net Mortgage Rate on the amount of such
prepayment;
(B) principal prepayments in full received on or after the
sixteenth day of the month preceding the month of such
Distribution Date (or, in the case of the first Distribution
Date, on or after the Cut-off Date) but on or before the last day
of the month preceding the month of such Distribution Date, the
difference between (i) one month's interest at the applicable Net
Mortgage Rate on the Scheduled Principal Balance of such Mortgage
Loan immediately prior to such prepayment and (ii) the amount of
interest for the calendar month of such prepayment (adjusted to
the applicable Net Mortgage Rate) received at the time of such
prepayment;
(C) principal prepayments in full received by the Company
(or of which the Company receives notice, in the case of a
Mortgage Loan serviced by a Primary Servicer) on or after the
first day but on or before the fifteenth day of the month of such
Distribution Date: none; and
(D) Relief Act Mortgage Loans: As to any Relief Act Mortgage
Loan, the excess of (i) 30 days' interest (or, in the case of a
Principal Prepayment in full, interest to the date of prepayment)
on the Scheduled Principal Balance thereof (or, in the case of a
Principal Prepayment in part, on the amount so prepaid) at the
related Net Mortgage Rate over (ii) 30 days' interest (or, in the
case of a Principal Prepayment in full, interest to the date of
prepayment) on such Scheduled Principal Balance (or, in the case
of a Principal Prepayment in part, on the amount so prepaid) at
the Net Mortgage Rate required to be paid by the Mortgagor as
limited by application of the Relief Act.
Junior Certificate: Any Class M or Class B Certificate.
Junior Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of the following (but in no event greater than the
aggregate Certificate Principal Balance of the Junior Certificates
immediately prior to such Distribution Date):
(i) the Junior Percentage of the applicable Non-PO Percentage of the
principal portion of each Monthly Payment due on the related Due Date on
each Outstanding Mortgage Loan as of such Due Date as specified in the
amortization schedule at the time applicable thereto (after adjustment for
previous Principal Prepayments and the principal portion of Debt Service
Reductions subsequent to the Bankruptcy Coverage Termination Date but
before any adjustment to such amortization schedule by reason of any
bankruptcy (other than as aforesaid) or similar proceeding or any
moratorium or similar waiver or grace period);
(ii) the Junior Prepayment Percentage of the applicable Non-PO
Percentage of all principal prepayments in part received during the related
Prepayment Period, and 100% of any Senior Optimal Principal Amount not
distributed to the Senior Certificates on such Distribution Date, together
with the Junior Prepayment Percentage of the applicable Non-PO Percentage
of the Scheduled Principal Balance of each Mortgage Loan which was the
subject of a Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the excess, if any, of (x) the applicable Non-PO Percentage of
the sum of (A) all Net Liquidation Proceeds allocable to principal received
during the related Prepayment Period (other than in respect of Mortgage
Loans described in clause (B)) and (B) the principal balance of each
Mortgage Loan that was purchased by an insurer from the Trustee during the
related Prepayment Period pursuant to the related Primary Insurance Policy,
over (y) the amount distributable pursuant to clause (iii) of the
definition of Senior Optimal Principal Amount on such Distribution Date;
(iv) the Junior Prepayment Percentage of the applicable Non-PO
Percentage of the Scheduled Principal Balance of each Mortgage Loan which
was purchased on such Distribution Date pursuant to Section 2.02, 2.03(a)
or 3.16; and
(v) the Junior Prepayment Percentage of the applicable Non-PO
Percentage of the Substitution Amount for any Mortgage Loan substituted
during the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary Principal Prepayment in
full with respect to a Mortgage Loan serviced by a Primary Servicer shall
be deemed to have been received when the Company, as servicer, receives
notice thereof.
After the Class Certificate Principal Balances of the Junior
Certificates have been reduced to zero, the Junior Optimal Principal Amount
shall be zero.
Junior Percentage: As to any Distribution Date, the excess of 100%
over the Senior Percentage for such Distribution Date.
Junior Prepayment Percentage: As to any Distribution Date, the excess
of 100% over the Senior Prepayment Percentage for such Distribution Date,
except that (i) after the aggregate Certificate Principal Balance of the
Senior Certificates other than the Class PO Certificates has been reduced
to zero, the Junior Prepayment Percentage shall be 100%, and (ii) after the
Cross-Over Date, the Junior Prepayment Percentage shall be zero.
Latest Possible Maturity Date: August 25, 2031.
LIBOR: With respect to any Interest Accrual Period, the per annum rate
determined, pursuant to Section 5.08, on the basis of the Interest
Settlement Rate or as otherwise provided in such Section.
LIBOR Certificate: None.
LIBOR Determination Date: The second London Banking Day immediately
preceding the commencement of each Interest Accrual Period for any LIBOR
Certificates.
Liquidated Mortgage Loan: Any defaulted Mortgage Loan as to which the
Company has determined that all amounts which it expects to recover on
behalf of the Trust Fund from or on account of such Mortgage Loan have been
recovered, including any Mortgage Loan with respect to which the Company
determines not to foreclose upon the related Mortgaged Property based on
its belief that such Mortgaged Property may be contaminated with or
affected by hazardous or toxic wastes, materials or substances.
Liquidation Expenses: Expenses which are incurred by the Company in
connection with the liquidation of any defaulted Mortgage Loan and not
recovered by the Company under any Primary Insurance Policy for reasons
other than the Company's failure to comply with Section 3.05, such expenses
including, without limitation, legal fees and expenses, and, regardless of
when incurred, any unreimbursed amount expended by the Company pursuant to
Section 3.03 or Section 3.06 respecting the related Mortgage Loan and any
related and unreimbursed Property Protection Expenses.
Liquidation Proceeds: Cash (other than Insurance Proceeds) received in
connection with the liquidation of any defaulted Mortgage Loan whether
through judicial foreclosure or otherwise.
Living Holder: Any Certificate Owner of a Designated Retail
Certificate, other than a Deceased Holder.
Loan-to-Value Ratio: With respect to each Mortgage Loan, the original
principal amount of such Mortgage Loan, divided by the Original Value of
the related Mortgaged Property.
London Banking Day: Any day on which banks are open for dealing in
foreign currency and exchange in London, England.
Loss Allocation Limitation: As defined in Section 4.03(g).
Minimum Servicing Standards: As defined in Section 3.13(a).
MLCC: Merrill Lynch Credit Corporation, or its successor in interest.
Monthly Advance: With respect to any Distribution Date, the aggregate
of the advances required to be made by the Company pursuant to Section
4.04(a) (or by the Trustee pursuant to Section 4.04(b)) on such
Distribution Date, the amount of any such Monthly Advance being equal to
(a) the aggregate of payments of principal and interest (adjusted to the
related Net Mortgage Rate) on the Mortgage Loans that were due on the
related Due Date, without regard to any arrangements entered into by the
Company with the related Mortgagors pursuant to Section 3.02(a)(ii), and
delinquent as of the close of business on the Business Day next preceding
the related Determination Date, less (b) the amount of any such payments
which the Company or the Trustee, as applicable, in its reasonable judgment
believes will not be ultimately recoverable by it either out of late
payments by the Mortgagor, Net Liquidation Proceeds, Insurance Proceeds,
REO Proceeds or otherwise. With respect to any Mortgage Loan, the portion
of any such advance or advances made with respect thereto.
Monthly Payment: The scheduled monthly payment on a Mortgage Loan for
any month allocable to principal or interest on such Mortgage Loan.
Moody's: Moody's Investors Service, Inc. and its successors.
Mortgage: The mortgage or deed of trust creating a first lien on a fee
simple interest or leasehold estate in real property securing a Mortgage
Note.
Mortgage 100SM Loan: A Mortgage Loan identified on Exhibit N hereof
that has a Loan-to-Value Ratio at origination in excess of 80.00% and that
is secured by Additional Collateral and does not have a Primary Insurance
Policy.
Mortgage File: The mortgage documents listed in Section 2.01
pertaining to a particular Mortgage Loan and any additional documents
required to be added to such documents pursuant to this Agreement.
Mortgage Loan Payment Record: The record maintained by the Company
pursuant to Section 3.02(b).
Mortgage Loan Schedule: As of any date of determination, the schedule
of Mortgage Loans included in the Trust Fund. The initial schedule of
Mortgage Loans as of the Cut-off Date is attached hereto as Exhibit C.
Mortgage Loans: As of any date of determination, each of the mortgage
loans identified on the Mortgage Loan Schedule (as amended pursuant to
Section 2.03(b)) delivered and assigned to the Trustee pursuant to Section
2.01 or 2.03(b), and not theretofore released from the Trust Fund by the
Trustee.
Mortgage Note: With respect to any Mortgage Loan, the note or other
evidence of indebtedness (which may consist of a Confirmatory Mortgage
Note) evidencing the indebtedness of a Mortgagor under such Mortgage Loan.
Mortgage Pool: The aggregate of the Mortgage Loans identified in the
Mortgage Loan Schedule.
Mortgage Rate: The per annum rate of interest borne by a Mortgage Loan
as set forth in the related Mortgage Note.
Mortgaged Property: The underlying real property securing the Mortgage
Loan, or with respect to a Cooperative Loan, the related Proprietary Lease
and Cooperative Stock.
Mortgagor: With respect to any Mortgage Loan, each obligor on the
related Mortgage Note.
Net Interest Shortfall: With respect to any Distribution Date, the
excess, if any, of the aggregate Interest Shortfalls allocable to the
Certificates (as determined in accordance with the definition of Interest
Shortfall) for such Distribution Date over any Compensating Interest
Payment for such date.
Net Liquidation Proceeds: As to any Liquidated Mortgage Loan, the sum
of (i) any Liquidation Proceeds therefor less the related Liquidation
Expenses, and (ii) any Insurance Proceeds therefor, other than any such
Insurance Proceeds applied to the restoration of the related Mortgaged
Property.
Net Mortgage Rate: With respect to any Mortgage Loan, the related
Mortgage Rate less the applicable Servicing Fee Rate.
Non-Book-Entry Certificate: Any Certificate other than a Book-Entry
Certificate.
Non-Discount Mortgage Loan: Any Mortgage Loan with a Net Mortgage Rate
greater than or equal to the Designated Rate.
Non-permitted Foreign Holder: As defined in Section 5.02(b).
Non-PO Percentage: As to any Discount Mortgage Loan, a fraction
(expressed as a percentage), the numerator of which is the Net Mortgage
Rate of such Discount Mortgage Loan and the denominator of which is the
Designated Rate. As to any Non-Discount Mortgage Loan, 100%.
Non-Primary Residence Loan: Any Mortgage Loan secured by a Mortgaged
Property that is (on the basis of representations made by the Mortgagors at
origination) a second home or investor-owned property.
Nonrecoverable Advance: All or any portion of any Monthly Advance or
Monthly Advances previously made by the Company (or the Trustee) which, in
the reasonable judgment of the Company (or, as applicable, the Trustee)
will not be ultimately recoverable from related Net Liquidation Proceeds,
Insurance Proceeds, REO Proceeds or otherwise. The determination by the
Company that it has made a Nonrecoverable Advance or that any advance, if
made, would constitute a Nonrecoverable Advance, shall be evidenced by an
Officer's Certificate of the Company delivered to the Trustee and detailing
the reasons for such determination.
Non-U.S. Person: As defined in Section 4.02(c).
Notional Certificate: Any Class S Certificate.
Notional Component: None.
Notional Component Balance: None.
Notional Principal Balance: As to any Distribution Date and the Class
S Certificates, the aggregate Scheduled Principal Balance of the
Outstanding Non-Discount Mortgage Loans as of the Due Date in the month
preceding such Distribution Date. As to any Distribution Date and any Class
S Certificate, such Certificate's Percentage Interest of the aggregate
Notional Principal Balance of the Class S Certificates for such
Distribution Date.
Officer's Certificate: A certificate signed by the President, a Senior
Vice President or a Vice President of the
Company and delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who may be counsel
for the Company; provided, however, that any Opinion of Counsel with
respect to the interpretation or application of the REMIC Provisions or the
status of an account as an Eligible Account shall be the opinion of
independent counsel satisfactory to the Trustee.
Original Subordinate Principal Balance: As set forth in the definition
of Senior Prepayment Percentage.
Original Value: The value of the property underlying a Mortgage Loan
based, in the case of the purchase of the underlying Mortgaged Property, on
the lower of an appraisal satisfactory to the Company or the sales price of
such property or, in the case of a refinancing, on an appraisal
satisfactory to the Company.
Outstanding Mortgage Loan: With respect to any Due Date, a Mortgage
Loan which, prior to such Due Date, was not the subject of a Principal
Prepayment in full, did not become a Liquidated Mortgage Loan and was not
purchased pursuant to Section 2.02, 2.03(a) or 3.16 or replaced pursuant to
Section 2.03(b).
Outstanding Non-Discount Mortgage Loan: Any Outstanding Mortgage Loan
that is a Non-Discount Mortgage Loan.
PAC Balance: As to any Distribution Date and any Class of PAC
Certificates and any PAC Component, the balance designated as such for such
Distribution Date and such Class or Component as set forth in the Principal
Balance Schedules.
PAC Certificate: None.
PAC Component: None.
Parent PowerSM Loan: A Mortgage Loan identified on Exhibit N hereto
that has a Loan-to-Value Ratio at origination in excess of 80.00%, that is
supported by Additional Collateral and does not have a Primary Insurance
Policy.
Pay-out Rate: With respect to any Class of Certificates (other than
any Class of Principal Only Certificates) and any Distribution Date, the
rate at which interest is distributed on such Class on such Distribution
Date and which is equal to a fraction (expressed as an annualized
percentage) the numerator of which is the Accrued Certificate Interest for
such Class and Distribution Date, and the denominator of which is the Class
Certificate Principal Balance (or, in the case of the Notional
Certificates, the Notional Principal Balance) of such Class immediately
prior to such Distribution Date.
Percentage Interest: With respect to any Certificate, the percentage
interest in the undivided beneficial ownership interest in the Trust Fund
evidenced by Certificates of the same Class as such Certificate. With
respect to any Certificate, the Percentage Interest evidenced thereby shall
equal the Initial Certificate Principal Balance (or, in the case of a
Notional Certificate, the initial Notional Principal Balance) thereof
divided by the aggregate Initial Certificate Principal Balance (or, in the
case of a Notional Certificate, the aggregate initial Notional Principal
Balance) of all Certificates of the same Class.
Permitted Investments: One or more of the following; provided,
however, that no such Permitted Investment may mature later than the
Business Day preceding the Distribution Date after such investment except
as otherwise provided in Section 3.02(e) hereof, provided, further, that
such investments qualify as "cash flow investments" as defined in section
860G(a)(6) of the Code:
(i) obligations of, or guaranteed as to timely receipt of principal
and interest by, the United States or any agency or instrumentality thereof
when such obligations are backed by the full faith and credit of the United
States;
(ii) repurchase agreements on obligations specified in clause (i)
provided that the unsecured obligations of the party agreeing to repurchase
such obligations are at the time rated by each Rating Agency in the highest
long-term rating category;
(iii) federal funds, certificates of deposit, time deposits and
banker's acceptances, of any U.S. depository institution or trust company
incorporated under the laws of the United States or any state provided that
the debt obligations of such depository institution or trust company at the
date of acquisition thereof have been rated by each Rating Agency in the
highest long-term rating category;
(iv) commercial paper of any corporation incorporated under the laws
of the United States or any state thereof which on the date of acquisition
has the highest short term rating of each Rating Agency; and
(v) other obligations or securities that are acceptable to each Rating
Agency as a Permitted Investment hereunder and will not, as evidenced in
writing, result in a reduction or withdrawal in the then current rating of
the Certificates.
Notwithstanding the foregoing, Permitted Investments shall not include
"stripped securities" and investments which contractually may return less
than the purchase price therefor.
Person: Any legal person, including any individual, corporation,
partnership, limited liability company, joint venture, association,
joint-stock company, trust, unincorporated organization or government or
any agency or political subdivision thereof.
Plan: Any Person which is an employee benefit plan subject to ERISA or
a plan subject to section 4975 of the Code.
Pledged Asset Loan-to-Value Ratio: With respect to any Pledged Asset
Mortgage Loan, (i) the original loan amount less the portion of any
required Additional Collateral which is covered by the Surety Bond, divided
by (ii) the Original Value of the related Mortgaged Property.
Pledged Asset Mortgage Loan: Each Mortgage 100SM Loan and Parent
PowerSM Loan purchased from MLCC that is supported by Additional Collateral
and identified on Exhibit N hereto.
Pledged Asset Mortgage Servicing Agreement: The Amended and Restated
Pledged Asset Mortgage Servicing Agreement, dated as of June 2, 1998,
between MLCC and the Company.
PO Percentage: As to any Discount Mortgage Loan, a fraction (expressed
as a percentage), the numerator of which is the excess of the Designated
Rate over the Net Mortgage Rate of such Discount Mortgage Loan and the
denominator of which is the Designated Rate. As to any Non-Discount
Mortgage Loan, 0%.
Pool Scheduled Principal Balance: With respect to any Distribution
Date, the aggregate Scheduled Principal Balance of all the Mortgage Loans
that were Outstanding Mortgage Loans on the Due Date in the month next
preceding the month of such Distribution Date (or, in the case of the first
Distribution Date, the Cut-off Date; or, if so specified, such other date).
Prepayment Assumption: The assumed fixed schedule of prepayments on a
pool of new mortgage loans with such schedule given as a monthly sequence
of prepayment rates, expressed as annualized percent values. These values
start at 0.2% per year in the first month, increase by 0.2% per year in
each succeeding month until month 30, ending at 6.0% per year. At such
time, the rate remains constant at 6.0% per year for the balance of the
remaining term. Multiples of the Prepayment Assumption are calculated from
this prepayment rate series.
Prepayment Assumption Multiple: 250% of the Prepayment Assumption.
Prepayment Distribution Trigger: As of any Distribution Date and as to
each Class of Class B Certificates, the related Prepayment Distribution
Trigger is satisfied if (x) the fraction, expressed as a percentage, the
numerator of which is the aggregate Class Certificate Principal Balance of
such Class and each Class subordinate thereto, if any, on such Distribution
Date, and the denominator of which is the Pool Scheduled Principal Balance
for such Distribution Date, equals or exceeds (y) such percentage
calculated as of the Closing Date.
Prepayment Interest Excess: As to any Voluntary Principal Prepayment
in full received from the first day through the fifteenth day of any
calendar month (other than the calendar month in which the Cut-off Date
occurs), all amounts paid in respect of interest on such Principal
Prepayment. For purposes of determining the amount of Prepayment Interest
Excess for any month, a Voluntary Principal Prepayment in full with respect
to a Mortgage Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives notice thereof. All
Prepayment Interest Excess shall be retained by the Company, as servicer,
as additional servicing compensation.
Prepayment Period: With respect to any Distribution Date and any
Voluntary Principal Prepayment in part or other Principal Prepayment other
than a Voluntary Principal Prepayment in full, the calendar month preceding
the month of such Distribution Date; with respect to any Distribution Date
and any Voluntary Principal Prepayment in full, the period beginning on the
sixteenth day of the calendar month preceding the month of such
Distribution Date (or, in the case of the first Distribution Date,
beginning on the Cut-off Date) and ending on the fifteenth day of the month
in which such Distribution Date occurs.
Primary Insurance Policy: The certificate of private mortgage
insurance relating to a particular Mortgage Loan, or an electronic screen
print setting forth the information contained in such certificate of
private mortgage insurance, including, without limitation, information
relating to the name of the mortgage insurance carrier, the certificate
number, the loan amount, the property address, the effective date of
coverage, the amount of coverage and the expiration date of the policy.
Each such policy covers defaults by the Mortgagor, which coverage shall
equal the portion of the unpaid principal balance of the related Mortgage
Loan that exceeds 75% (or such lesser coverage required or permitted by
FNMA or FHLMC) of the Original Value of the underlying Mortgaged Property.
Primary Servicer: Any servicer with which the Company has entered into
a servicing agreement, as described in Section 3.01(f).
Principal Balance Schedules: Any principal balance schedules attached
hereto, if applicable, as Exhibit B, setting forth the PAC Balances of any
PAC Certificates and PAC Components, the TAC Balances of any TAC
Certificates and TAC Components and the Scheduled Balances of any Scheduled
Certificates and Scheduled Components.
Principal Distribution Request: Any request for a distribution in
reduction of the Class Certificate Principal Balance of any Designated
Retail Certificate, submitted in writing to a Depository Participant or
Financial Intermediary (or, if such Designated Retail Certificate is no
longer represented by a Book-Entry Certificate, to the Trustee) by the
Certificate Owner (or Certificateholder) of such Designated Retail
Certificate pursuant to Section 4.10(c) or 4.10(g), as applicable.
Principal Only Certificate: Any Class A8 or Class PO Certificate.
Principal Only Component: None.
Principal Prepayment: Any payment or other recovery of principal on a
Mortgage Loan (including, for this purpose, any refinancing permitted by
Section 3.01 and any REO Proceeds treated as such pursuant to Section
3.08(b)) which is received in advance of its scheduled Due Date and is not
accompanied by an amount of interest representing scheduled interest for
any month subsequent to the month of prepayment.
Private Placement Memorandum: The Company's private placement
memorandum relating to the placement of the Restricted Junior Certificates
dated the date of the prospectus supplement referred to in the definition
of Prospectus.
Prohibited Transaction Exemption: U.S. Department of Labor Prohibited
Transaction Exemption 90-83, 55 Fed. Reg. 50250, December 5, 1990.
Property Protection Expenses: With respect to any Mortgage Loan,
expenses paid or incurred by or for the account of the Company in
accordance with the related Mortgage for (a) real estate property taxes and
property repair, replacement, protection and preservation expenses and (b)
similar expenses reasonably paid or incurred to preserve or protect the
value of such Mortgage to the extent the Company is not reimbursed therefor
pursuant to the Primary Insurance Policy, if any, or any other insurance
policy with respect thereto.
Proprietary Lease: With respect to a Cooperative Loan, the proprietary
lease(s) or occupancy agreement with respect to the Cooperative Apartment
occupied by the Mortgagor and relating to the related Cooperative Stock,
which lease or agreement confers an exclusive right to the holder of such
Cooperative Stock to occupy such apartment.
Prospectus: The Company's prospectus supplement dated August 25, 1999,
and the related prospectus dated August 19, 1999, relating to the public
offering of the Certificates other than the Restricted Certificates.
Purchase Price: With respect to any Mortgage Loan required or
permitted to be purchased hereunder from the Trust Fund, an amount equal to
100% of the unpaid principal balance thereof plus interest thereon at the
applicable Mortgage Rate from the date to which interest was last paid to
the first day of the month in which such purchase price is to be
distributed; provided, however, that if the Company is the servicer
hereunder, such purchase price shall be net of unreimbursed Monthly
Advances with respect to such Mortgage Loan, and the interest component of
the Purchase Price may be computed on the basis of the Net Mortgage Rate
for such Mortgage Loan.
QIB: A "qualified institutional buyer" as defined in Rule 144A under
the Securities Act of 1933, as amended.
Random Lot: With respect to any Distribution Date prior to the
Cross-Over Date, if the amount available for distribution in reduction of
the Class Certificate Principal Balance of any Class of Designated Retail
Certificates on such Distribution Date exceeds the amount needed to honor
all Principal Distribution Requests with respect to such Class on such
date, the method by which the Depository will determine which Depository
Participants holding interests in such Class of Certificates will receive
payments of amounts distributable in respect of principal on such Class on
such Distribution Date, using its established random lot procedures or, if
such Class of Certificates is no longer represented by Book-Entry
Certificates, the method by which the Trustee will determine which
Certificates of such Class will receive payments of amounts distributable
in respect of principal on such Class on such Distribution Date, using its
own random lot procedures comparable to those used by the Depository.
Rating Agency: Any statistical credit rating agency, or its successor,
that rated any of the Certificates at the request of the Company at the
time of the initial issuance of the Certificates. If 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 Company, notice of which designation shall be given to the Trustee.
References herein to the two highest long-term rating categories of a
Rating Agency shall mean such ratings without any modifiers. As of the date
of the initial issuance of the Certificates, the Rating Agencies are Fitch
and S&P; except that for purposes of the Junior Certificates, other than
the Class B5 Certificates, Fitch shall be the sole Rating Agency. The Class
B5 Certificates are issued without ratings.
Realized Loss: Any (i) Deficient Valuation or (ii) as to any
Liquidated Mortgage Loan, (x) the unpaid principal balance of such
Liquidated Mortgage Loan plus accrued and unpaid interest thereon at the
Net Mortgage Rate through the last day of the month of such liquidation
less (y) the related Liquidation Proceeds and Insurance Proceeds (as
reduced by the related Liquidation Expenses).
Record Date: The last Business Day of the month immediately preceding
the month of the related Distribution Date.
Reference Banks: As defined in Section 5.08.
Relief Act: The Soldiers' and Sailors' Civil Relief Act of 1940, as
amended.
Relief Act Mortgage Loan: Any Mortgage Loan as to which the Monthly
Payment thereof has been reduced due to the application of the Relief Act.
REMIC: A "real estate mortgage investment conduit" within the meaning
of section 860D of the Code.
REMIC Provisions: Provisions of the federal income tax law relating to
real estate mortgage investment conduits, which appear at sections 860A
through 860G of Part IV of Subchapter M of Chapter 1 of the Code, and
related provisions, and U.S. Department of the Treasury temporary or final
regulations promulgated thereunder, as the foregoing may be in effect from
time to time, as well as provisions of applicable state laws.
REO Mortgage Loan: Any Mortgage Loan which is not a Liquidated
Mortgage Loan and as to which the related Mortgaged Property is held as
part of the Trust Fund.
REO Proceeds: Proceeds, net of any related expenses of the Company,
received in respect of any REO Mortgage Loan (including, without
limitation, proceeds from the rental of the related Mortgaged Property).
Required Surety Payment: With respect to any Pledged Asset Mortgage
Loan that becomes a Liquidated Mortgage Loan, the lesser of (i) the
principal portion of the Realized Loss with respect to such Mortgage Loan
and (ii) the excess, if any, of (a) the amount of Additional Collateral
required at origination with respect to such Mortgage Loan which is covered
by the Surety Bond over (b) the net proceeds realized by MLCC from the
liquidation of the related Additional Collateral.
Reserve Fund: None.
Reserve Interest Rate: As defined in Section 5.08.
Residual Certificate: Any Class R Certificate.
Responsible Officer: When used with respect to the Trustee, any
officer or assistant officer assigned to and working in the Corporate Trust
Department of the Trustee 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.
Restricted Certificate: Any Restricted Junior Certificate, Class PO
Certificate or Class S Certificate.
Restricted Junior Certificate: Any Class B3, Class B4 or Class B5
Certificate.
Rounding Account: With respect to each Class of Designated Retail
Certificates, the respective segregated, non-interest bearing Eligible
Account created and maintained therefor pursuant to Section 4.10.
Rounding Account Depositor: None.
Rounding Amount: With respect to any Class of Designated Retail
Certificates and each Distribution Date prior to the Cross-Over Date on
which such Class of Certificates is entitled to a distribution in reduction
of the Class Certificate Principal Balance thereof, the amount, if any,
necessary to round the aggregate of such distribution (after giving effect
to any deposit into the related Rounding Account on such Distribution Date)
upward to the next higher integral multiple of $1,000.
S&P: Standard & Poor's Ratings Services, a division of The McGraw-Hill
Companies, Inc., and its successors.
SAIF: The Savings Association Insurance Fund of the FDIC, or its
successor in interest.
Scheduled Balance: As to any Distribution Date and any Class of
Scheduled Certificates and any Scheduled Component, the balance designated
as such for such Distribution Date and such Class or Component as set forth
in the Principal Balance Schedules.
Scheduled Certificate: None.
Scheduled Component: None.
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 next preceding the month of such Distribution Date (or, if so
specified, such other date) as specified in the amortization schedule at
the time relating to such Mortgage Loan (before any adjustment to such
amortization schedule by reason of any bankruptcy or similar proceeding or
any moratorium or similar waiver or grace period) after giving effect to
any previous Principal Prepayments, Deficient Valuations incurred
subsequent to the Bankruptcy Coverage Termination Date, adjustments due to
the application of the Relief Act and the payment of principal due on such
Due Date, irrespective of any delinquency in payment by the related
Mortgagor. As to any Mortgage Loan and the Cut-off Date, the "unpaid
balance" thereof specified in the initial Mortgage Loan Schedule.
Security Agreement: With respect to a Cooperative Loan, the agreement
creating a security interest in favor of the originator in the related
Cooperative Stock and Proprietary Lease.
Senior Certificate: Any Certificate other than a Junior Certificate or
Class S Certificate.
Senior Certificate Principal Balance: As of any Distribution Date, an
amount equal to the sum of the Certificate Principal Balances of the Senior
Certificates (other than any Class PO Certificates).
Senior Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of:
(i) the Senior Percentage of the applicable Non-PO Percentage of the
principal portion of each Monthly Payment due on the related Due Date on
each Outstanding Mortgage Loan as of such Due Date as specified in the
amortization schedule at the time applicable thereto (after adjustments for
previous Principal Prepayments and the principal portion of Debt Service
Reductions subsequent to the Bankruptcy Coverage Termination Date but
before any adjustment to such amortization schedule by reason of any
bankruptcy (except as aforesaid) or similar proceeding or any moratorium or
similar waiver or grace period);
(ii) the Senior Prepayment Percentage of the applicable Non-PO
Percentage of all principal prepayments in part received during the related
Prepayment Period, together with the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal Balance of each
Mortgage Loan which was the subject of a Voluntary Principal Prepayment in
full during the related Prepayment Period;
(iii) the lesser of (x) the Senior Percentage of the applicable Non-PO
Percentage of the sum of (A) the Scheduled Principal Balance of each
Mortgage Loan that became a Liquidated Mortgage Loan (other than Mortgage
Loans described in clause (B)) during the related Prepayment Period and (B)
the Scheduled Principal Balance of each Mortgage Loan that was purchased by
an insurer from the Trustee during the related Prepayment Period pursuant
to the related Primary Insurance Policy, as reduced in each case by the
Senior Percentage of the applicable Non-PO Percentage of the principal
portion of any Excess Losses (other than Excess Bankruptcy Losses
attributable to Debt Service Reductions), and (y) the Senior Prepayment
Percentage of the applicable Non-PO Percentage of the sum of (A) all Net
Liquidation Proceeds allocable to principal received in respect of each
such Liquidated Mortgage Loan (other than Mortgage Loans described in
clause (B)) and (B) the principal balance of each such Mortgage Loan
purchased by an insurer from the Trustee pursuant to the related Primary
Insurance Policy, in each case during the related Prepayment Period;
(iv) the Senior Prepayment Percentage of the applicable Non-PO
Percentage of the Scheduled Principal Balance of each Mortgage Loan which
was purchased on such Distribution Date pursuant to Section 2.02, 2.03(a)
or 3.16; and
(v) the Senior Prepayment Percentage of the applicable Non-PO
Percentage of the Substitution Amount for any Mortgage Loan substituted
during the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary Principal Prepayment in
full with respect to a Mortgage Loan serviced by a Primary Servicer shall
be deemed to have been received when the Company, as servicer, receives
notice thereof.
Senior Percentage: As to any Distribution Date, the lesser of (i) 100%
and (ii) the percentage (carried to six places rounded up) obtained by
dividing the Senior Certificate Principal Balance immediately prior to such
Distribution Date by an amount equal to the sum of the Certificate
Principal Balances of all the Certificates other than any Class PO
Certificates immediately prior to such Distribution Date.
Senior Prepayment Percentage: For any Distribution Date occurring
prior to the fifth anniversary of the first Distribution Date, 100%. For
any Distribution Date occurring on or after the fifth anniversary of the
first Distribution Date, an amount as follows:
(i) for any Distribution Date subsequent to August 2004 to and
including the Distribution Date in August 2005, the Senior Percentage for
such Distribution Date plus 70% of the Junior Percentage for such
Distribution Date;
(ii) for any Distribution Date subsequent to August 2005 to and
including the Distribution Date in August 2006, the Senior Percentage for
such Distribution Date plus 60% of the Junior Percentage for such
Distribution Date;
(iii) for any Distribution Date subsequent to August 2006 to and
including the Distribution Date in August 2007, the Senior Percentage for
such Distribution Date plus 40% of the Junior Percentage for such
Distribution Date;
(iv) for any Distribution Date subsequent to August 2007 to and
including the Distribution Date in August 2008, the Senior Percentage for
such Distribution Date plus 20% of the Junior Percentage for such
Distribution Date; and
(v) for any Distribution Date thereafter, the Senior Percentage for
such Distribution Date.
Notwithstanding the foregoing, if on any Distribution Date the Senior
Percentage exceeds the Senior Percentage as of the Closing Date, the Senior
Prepayment Percentage for such Distribution Date will equal 100%.
In addition, notwithstanding the foregoing, no reduction of the Senior
Prepayment Percentage below the level in effect for the most recent prior
period as set forth in clauses (i) through (iv) above shall be effective on
any Distribution Date unless at least one of the following two tests is
satisfied:
Test I: If, as of the last day of the month preceding such
Distribution Date, (i) the aggregate Scheduled Principal Balance of
Mortgage Loans delinquent 60 days or more (including for this purpose any
Mortgage Loans in foreclosure and REO Mortgage Loans) as a percentage of
the aggregate Class Certificate Principal Balance of the Junior
Certificates as of such date, does not exceed 50%, and (ii) cumulative
Realized Losses with respect to the Mortgage Loans do not exceed (a) 30% of
the aggregate Class Certificate Principal Balance of the Junior
Certificates as of the Closing Date (the "Original Subordinate Principal
Balance") if such Distribution Date occurs between and including September
2004 and August 2005, (b) 35% of the Original Subordinate Principal Balance
if such Distribution Date occurs between and including September 2005 and
August 2006, (c) 40% of the Original Subordinate Principal Balance if such
Distribution Date occurs between and including September 2006 and August
2007, (d) 45% of the Original Subordinate Principal Balance if such
Distribution Date occurs between and including September 2007 and August
2008 and (e) 50% of the Original Subordinate Principal Balance if such
Distribution Date occurs during or after September 2008; or
Test II: If, as of the last day of the month preceding such
Distribution Date, (i) the aggregate Scheduled Principal Balance of
Mortgage Loans delinquent 60 days or more (including for this purpose any
Mortgage Loans in foreclosure and REO Mortgage Loans) averaged over the
last three months, as a percentage of the aggregate Scheduled Principal
Balance of Mortgage Loans averaged over the last three months, does not
exceed 4%, and (ii) cumulative Realized Losses with respect to the Mortgage
Loans do not exceed (a) 10% of the Original Subordinate Principal Balance
if such Distribution Date occurs between and including September 2004 and
August 2005, (b) 15% of the Original Subordinate Principal Balance if such
Distribution Date occurs between and including September 2005 and August
2006, (c) 20% of the Original Subordinate Principal Balance if such
Distribution Date occurs between and including September 2006 and August
2007, (d) 25% of the Original Subordinate Principal Balance if such
Distribution Date occurs between and including September 2007 and August
2008 and (e) 30% of the Original Subordinate Principal Balance if such
Distribution Date occurs during or after September 2008.
Senior Principal Priorities: The priorities for the distribution of
principal to the Senior Certificates as set forth in Exhibit O hereto.
Servicer's Certificate: A certificate, completed by and executed on
behalf of the Company by a Servicing Officer in accordance with Section
4.06, substantially in the form of Exhibit D hereto or in such other form
as the Company and the Trustee shall agree.
Servicing Fee: As to any Mortgage Loan and Distribution Date, an
amount equal to the product of (i) the Scheduled Principal Balance of such
Mortgage Loan as of the Due Date in the preceding calendar month and (ii)
the Servicing Fee Rate for such Mortgage Loan.
Servicing Fee Rate: As to any Mortgage Loan, the per annum rate
identified as such for such Mortgage Loan and set forth in the Mortgage
Loan Schedule.
Servicing Officer: Any officer of the Company involved in, or
responsible for, the administration and servicing of the Mortgage Loans
whose name appears on a list of servicing officers attached to an Officer's
Certificate furnished to the Trustee by the Company, as such list may from
time to time be amended.
Single Certificate: A Certificate with an Initial Certificate
Principal Balance, or initial Notional Principal Balance, of $1,000 or, in
the case of a Class of Certificates issued with an initial Class
Certificate Principal Balance or initial Notional Principal Balance of less
than $1,000, such lesser amount.
Special Event Loss: Any Fraud Loss, Special Hazard Loss or Deficient
Valuation.
Special Hazard Loss: (i) A Realized 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 required to be
maintained in respect of such Mortgaged Property under Section 3.06 and (b)
any loss caused by or resulting from:
(A) normal wear and tear;
(B) conversion or other dishonest act on the part of the Trustee, the
Company or any of their agents or employees; or
(C) errors in design, faulty workmanship or faulty materials, unless
the collapse of the property or a part thereof ensues;
or (ii) any Realized Loss suffered by the Trust Fund 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 required to be maintained in respect of such Mortgaged Property
under Section 3.06.
Special Hazard Loss Amount: As of any Distribution Date, an amount
equal to $3,514,470 minus the sum of (i) the aggregate amount of Special
Hazard Losses that would have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss Allocation
Limitation and (ii) the Adjustment Amount (as defined below) as most
recently calculated. On each anniversary of the Cut-off Date, the
"Adjustment Amount" 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 Adjustment Amount for such anniversary)
exceeds the lesser of (x) 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 and (B) twice the outstanding
principal balance of the Mortgage Loan which has the largest outstanding
principal balance on the Distribution Date immediately preceding such
anniversary, and (y) an amount calculated by the Company and approved by
each Rating Agency, which amount shall not be less than $500,000.
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 (x) 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 (y) the outstanding principal balance of all the
Mortgage Loans as of the immediately preceding Distribution Date.
Special Hazard Termination Date: The Distribution Date upon which the
Special Hazard Loss Amount has been reduced to zero or a negative number
(or the Cross-Over Date, if earlier).
Specified Component: None.
Startup Day: As defined in Section 2.05(b).
Strip Rate: With respect to the Class S Certificates and any
Distribution Date, a variable rate per annum equal to the excess of (x) the
weighted average (by Scheduled Principal Balance) carried to six decimal
places, rounded down, of the Net Mortgage Rates of the Outstanding
Non-Discount Mortgage Loans as of the Due Date in the preceding calendar
month (or the Cut-off Date, in the case of the first Distribution Date)
over (y) the Designated Rate; provided, however, that such calculation
shall not include any Mortgage Loan that was the subject of a Voluntary
Principal Prepayment in full received by the Company (or of which the
Company received notice, in the case of a Mortgage Loan serviced by a
Primary Servicer) on or after the first day but on or before the 15th day
of such preceding calendar month.
Subordinate Certificates: As to any date of determination, first, the
Class B5 Certificates until the Class Certificate Principal Balance thereof
has been reduced to zero; second, the Class B4 Certificates until the Class
Certificate Principal Balance thereof has been reduced to zero; third, the
Class B3 Certificates until the Class Certificate Principal Balance thereof
has been reduced to zero; fourth, the Class B2 Certificates until the Class
Certificate Principal Balance thereof has been reduced to zero; fifth, the
Class B1 Certificates until the Class Certificate Principal Balance thereof
has been reduced to zero; and sixth, the Class M Certificates until the
Class Certificate Principal Balance thereof has been reduced to zero.
Subordinate Certificate Writedown Amount: As to any Distribution Date,
first, any amount distributed to the Class PO Certificates on such
Distribution Date pursuant to Section 4.01(a)(iv) and second, after giving
effect to the application of clause first above, the amount by which (i)
the sum of the Class Certificate Principal Balances of all the Certificates
(after giving effect to the distribution of principal and the application
of Realized Losses in reduction of the Certificate Principal Balances of
the related Certificates on such Distribution Date) exceeds (ii) the Pool
Scheduled Principal Balance on the first day of the month of such
Distribution Date less any Deficient Valuations occurring on or prior to
the Bankruptcy Coverage Termination Date.
Substitution Amount: With respect to any Mortgage Loan substituted
pursuant to Section 2.03(b), the excess of (x) the Scheduled Principal
Balance of the Mortgage Loan that is substituted for, over (y) the
Scheduled Principal Balance of the related substitute Mortgage Loan, each
balance being determined as of the date of substitution.
Surety: Ambac Assurance Corporation, or its successors in interest.
Surety Bond: The Limited Purpose Surety Bond (Policy No. AB0039BE),
dated February 28, 1996, issued by the Surety for the benefit of certain
beneficiaries, including the Trustee for the benefit of the Holders of the
Certificates, but only to the extent that such Limited Purpose Surety Bond
covers any Pledged Asset Mortgage Loans.
TAC Balance: As to any Distribution Date and any Class of TAC
Certificates and any TAC Component, the balance designated as such for such
Distribution Date and such Class or Component as set forth in the Principal
Balance Schedules attached as Exhibit B hereto.
TAC Certificates: None.
TAC Component: None.
Trigger Event: Any one or more of the following: (i) if the Company is
not a wholly-owned direct or indirect subsidiary of General Electric
Company or if General Electric Capital Corporation shall not own (directly
or indirectly) at least two-thirds of the voting shares of the capital
stock of the Company, (ii) if the long-term senior unsecured rating of
General Electric Capital Corporation is downgraded or withdrawn by Fitch or
S&P below their two highest rating categories, (iii) if General Electric
Capital Corporation is no longer obligated pursuant to the terms of the
support agreement, dated as of October 1, 1990, between General Electric
Capital Corporation and the Company, to maintain the Company's net worth or
liquidity (as such terms are defined therein) at the levels specified
therein, or if such support agreement, including any amendment thereto, has
been breached, terminated or otherwise held to be unenforceable and (iv) if
such support agreement, including any amendment thereto, is amended or
modified.
Trust Fund: The corpus of the trust created by this Agreement
evidenced by the Certificates and consisting of:
(i) the Mortgage Loans;
(ii) all payments on or collections in respect of such Mortgage Loans,
except as otherwise described in the first paragraph of Section 2.01,
including the proceeds from the liquidation of any Additional Collateral
for any Pledged Asset Mortgage Loan;
(iii) the obligation of the Company to deposit in the Certificate
Account the amounts required by Sections 3.02(d), 3.02(e) and 4.04(a), and
the obligation of the Trustee to deposit in the Certificate Account any
amount required pursuant to Section 4.04(b);
(iv) the obligation of the Company to purchase or replace any
Defective Mortgage Loan pursuant to Section 2.02 or 2.03;
(v) all property acquired by foreclosure or deed in lieu of
foreclosure with respect to any REO Mortgage Loan;
(vi) the proceeds of the Primary Insurance Policies, if any, and the
hazard insurance policies required by Section 3.06, in each case, in
respect of the Mortgage Loans, and the Company's interest in the Surety
Bond transferred to the Trustee pursuant to Section 2.01;
(vii) the Certificate Account established pursuant to Section 3.02(d);
(viii) the Eligible Account or Accounts, if any, established pursuant
to Section 3.02(e);
(ix) any collateral funds established to secure the obligations of the
Holder of the Class B4 and Class B5 Certificates, respectively, under any
agreements entered into between such holder and the Company pursuant to
Section 3.08(e) (which collateral funds will not constitute a part of any
REMIC established hereunder); and
(x) all rights of the Company as assignee under any security
agreements, pledge agreements or guarantees relating to the Additional
Collateral supporting any Pledged Asset Mortgage Loan (which rights will
not constitute a part of any REMIC established hereunder).
Trustee: The institution executing this Agreement as Trustee, or its
successor in interest, or if any successor trustee is appointed as herein
provided, then such successor trustee so appointed.
Unanticipated Recovery: As defined in Section 4.01(f) herein.
Uninsured Cause: Any cause of damage to property subject to a Mortgage
such that the complete restoration of the property is not fully
reimbursable by the hazard insurance policies required to be maintained
pursuant to Section 3.06.
Unpaid Class Interest Shortfall: As to any Distribution Date and any
Class of Certificates (other than any Class of Principal Only Certificates
and any Class consisting of Specified Components) or any Specified
Component (other than any Principal Only Component), the amount, if any, by
which the aggregate of the Class Interest Shortfalls for such Class or in
respect of such Specified Component for prior Distribution Dates is in
excess of the aggregate amounts distributed on prior Distribution Dates to
Holders of such Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal Balance of any Class
of Accrual Certificates, or to the Component Principal Balance of any
Accrual Component constituting a Specified Component) pursuant to Section
4.01(a)(ii), in the case of the Senior Certificates (other than any Class
of Principal Only Certificates) and any Specified Component thereof (other
than any Principal Only Component) and the Class S Certificates, Section
4.01(a)(vi), in the case of the Class M Certificates, Section 4.01(a)(ix),
in the case of the Class B1 Certificates, Section 4.01(a)(xii), in the case
of the Class B2 Certificates, Section 4.01(a)(xv), in the case of the Class
B3 Certificates, Section 4.01(a)(xviii), in the case of the Class B4
Certificates, and Section 4.01(a)(xxi), in the case of the Class B5
Certificates. As to any Class of Certificates consisting of Specified
Components and any Distribution Date, the sum of the Unpaid Class Interest
Shortfalls for the Specified Components thereof on such date.
Voluntary Principal Prepayment: With respect to any Distribution Date,
any prepayment of principal received from the related Mortgagor on a
Mortgage Loan.
Voting Rights: The portion of the voting rights of all the
Certificates that is allocated to any Certificate for purposes of the
voting provisions of Section 10.01. At all times during the term of this
Agreement, 99% of all Voting Rights shall be allocated to the Certificates
other than the Class S Certificates, and 1% of all Voting Rights shall be
allocated to the Class S Certificates. Voting Rights allocated to the Class
S Certificates shall be allocated among the Certificates of such Class in
proportion to their Notional Principal Balances. Voting Rights allocated to
the other Classes of Certificates shall be allocated among such Classes
(and among the Certificates within each such Class) in proportion to their
Class Certificate Principal Balances (or Certificate Principal Balances),
as the case may be.
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. (a) The Company, concurrently
with the execution and delivery of this Agreement, does hereby transfer, assign,
set-over and otherwise convey to the Trustee without recourse (except as
provided herein) all the right, title and interest of the Company in and to the
Mortgage Loans, including all interest and principal received by the Company on
or with respect to the Mortgage Loans (other than payments of principal and
interest due and payable on the Mortgage Loans on or before, and all Principal
Prepayments received on or before, the Cut-off Date). The Company acknowledges
it has sold all right, title and interest in and to the Mortgage Loans to the
Trustee to the extent provided above and that retention of record title of
Mortgages (subject to Section 2.01(d) of this Agreement) is for convenience only
and that the Company holds record title solely as custodian for the Trustee for
benefit of the Certificateholders. The Company agrees that it will take no
action inconsistent with ownership of the Mortgage Loans by the Trustee and will
not deliver any instrument of satisfaction or conveyance with respect to a
Mortgage or a Mortgage Loan, or convey or purport to convey any interest in a
Mortgage Loan, except in accordance with the terms and the intent of this
Agreement.
In addition, with respect to any Pledged Asset Mortgage Loan, the Company
does hereby transfer, assign, set-over and otherwise convey to the Trustee
without recourse (except as provided herein) (i) its rights as assignee under
any security agreements, pledge agreements or guarantees relating to the
Additional Collateral supporting any Pledged Asset Mortgage Loan, (ii) its
security interest in and to any Additional Collateral, (iii) its right to
receive payments in respect of any Pledged Asset Mortgage Loan pursuant to the
Pledged Asset Mortgage Servicing Agreement, and (iv) its rights as beneficiary
under the Surety Bond in respect of any Pledged Asset Mortgage Loan.
(b) In connection with such transfer and assignment, the Company does
hereby deliver to the Trustee the following documents or instruments with
respect to:
(1) Each Mortgage Loan (other than any Cooperative Loan or Designated
Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in blank by the
Company, including all intervening endorsements showing a complete
chain of endorsement from the originator to the Company; provided,
however, that if such Mortgage Note is a Confirmatory Mortgage Note,
such Confirmatory Mortgage Note may be payable directly to the Company
or may show a complete chain of endorsement from the named payee to
the Company;
(ii) Any assumption and modification agreement;
(iii) An assignment in recordable form (which may be included in
a blanket assignment or assignments) of the Mortgage to the Trustee;
and
(2) Each Cooperative Loan (other than a Designated Loan) so
transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in blank by the
Company and showing an unbroken chain of endorsements from the
originator to the Company; provided, however, that if such Mortgage
Note is a Confirmatory Mortgage Note, such Confirmatory Mortgage Note
may be payable directly to the Company or may show a complete chain of
endorsement from the named payee to the Company;
(ii) A counterpart of the Proprietary Lease and the Assignment of
Proprietary Lease executed in blank or to the originator of the
Cooperative Loan;
(iii) The related Cooperative Stock Certificate, together with an
undated stock power (or other similar instrument) executed in blank;
(iv) A counterpart of the recognition agreement by the
Cooperative of the interests of the mortgagee with respect to the
related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing statement, and any
continuation statements, filed by the originator of such Cooperative
Loan as secured party, each with evidence of recording thereof,
evidencing the interest of the originator in the Cooperative Stock and
the Proprietary Lease;
(vii) If applicable, copies of the UCC-3 assignments of the
security interest described in clause (vi) above, sent to the
appropriate public office for filing, showing an unbroken chain of
title from the originator to the Company, evidencing the security
interest of the originator in the Cooperative Stock and the
Proprietary Lease;
(viii) An executed assignment (which may be a blanket assignment
for all Cooperative Loans) of the interest of the Company in the
Security Agreement, Assignment of Proprietary Lease and the
recognition agreement described in clause (iv) above, showing an
unbroken chain of title from the originator to the Trustee; and
(ix) A UCC-3 assignment from the Company to the Trustee of the
security interest described in clause (vi) above, in form suitable for
filing, otherwise complete except for filing information regarding the
original UCC-1 if unavailable (which may be included in a blanket
assignment to the Trustee).
In instances where a completed assignment of the Mortgage in recordable
form cannot be delivered by the Company to the Trustee in accordance with
Section 2.01(b)(1)(iii) prior to or concurrently with the execution and delivery
of this Agreement, due to a delay in connection with recording of the Mortgage,
the Company may, in lieu of delivering the completed assignment in recordable
form, deliver to the Trustee the assignment in such form, otherwise complete
except for recording information.
(3) With respect to each Designated Loan, the Company does hereby
deliver to the Trustee the Designated Loan Closing Documents.
(c) In connection with each Mortgage Loan transferred and assigned to the
Trustee, the Company shall deliver to the Trustee the following documents or
instruments as promptly as practicable, but in any event within 30 days, after
receipt by the Company of all such documents and instruments for all of the
outstanding Mortgage Loans:
(1) the Mortgage with evidence of recording indicated thereon (other
than with respect to a Cooperative Loan);
(2) a copy of the title insurance policy (other than with respect to a
Cooperative Loan);
(3) with respect to any Mortgage that has been assigned to the
Company, the related recorded intervening assignment or assignments of
Mortgage, showing a complete chain of assignment from the originator to the
Company (other than with respect to a Cooperative Loan); and
(4) with respect to any Cooperative Loan that has been assigned to the
Company, the related filed intervening UCC-3 financing statements (not
previously delivered pursuant to Section 2.01(b)(2)(vii)), showing a
complete chain of assignment from the named originator to the Company.
Pending such delivery, the Company shall retain in its files (a) copies of the
documents described in clauses (1) and (3) of the preceding sentence, without
evidence of recording thereon, and (b) title insurance binders with respect to
the Mortgage Loans (other than with respect to a Cooperative Loan). The Company
shall also retain in its files the Primary Insurance Policy evidencing any
primary mortgage insurance relating to the Mortgage Loans during the period when
the related insurance is in force. (The copies of the Mortgage, intervening
assignments of Mortgage, if any, title insurance binder and the Primary
Insurance Policy, if any, described in the two preceding sentences are
collectively referred to herein as the "Document File" with respect to each
Mortgage Loan.) The Company shall advise the Trustee in writing if such delivery
to the Trustee shall not have occurred on or before the first anniversary of the
Closing Date. The Company shall promptly furnish to the Trustee the documents
included in the Document Files (other than any such documents previously
delivered to the Trustee as originals or copies) either (a) upon the written
request of the Trustee or (b) when the Company or the Trustee obtains actual
notice or knowledge of a Trigger Event. The Trustee shall have no obligation to
request delivery of the Document Files unless a Responsible Officer of the
Trustee has actual notice or knowledge of the occurrence of a Trigger Event.
In the case of Mortgage Loans which have been prepaid in full after the
Cut-off Date and prior to the date of execution and delivery of this Agreement,
the Company, in lieu of delivering the above documents to the Trustee, herewith
delivers to the Trustee a certification of a Servicing Officer of the nature set
forth in Section 3.09.
(d) The Company shall not be required to record the assignments of the
Mortgages referred to in Section 2.01(b)(1)(iii) or file the UCC-3 assignments
referred to in Section 2.01(b)(2)(ix) to the Trustee unless the Company or the
Trustee obtains actual notice or knowledge of the occurrence of any Trigger
Event; provided, however, that such recording or filing shall not be required if
the Company delivers to the Trustee a letter from each Rating Agency to the
effect that the failure to take such action will not cause such Rating Agency to
reduce or withdraw its then current ratings of the Certificates. The party
obtaining actual notice or knowledge of any of such events shall give the other
party prompt written notice thereof. For purposes of the foregoing (as well as
for purposes of determining whether the Company shall be required to deliver the
Document Files to the Trustee following the occurrence of a Trigger Event), the
Company shall be deemed to have knowledge of any such downgrading referred to in
the definition of Trigger Event if, in the exercise of reasonable diligence, the
Company has or should have had knowledge thereof. As promptly as practicable
subsequent to the Company's delivery or receipt of such written notice, as the
case may be, the Company shall insert the recording or filing information in the
assignments of the Mortgages or UCC-3 assignments to the Trustee and shall cause
the same to be recorded or filed, at the Company's expense, in the appropriate
public office for real property records or UCC financing statements, except that
the Company need not cause to be so completed and recorded any assignment of
mortgage which relates to a Mortgage Loan secured by property in a jurisdiction
under the laws of which, on the basis of an Opinion of Counsel reasonably
satisfactory to the Trustee and satisfactory to each Rating Agency (as evidenced
in writing), recordation of such assignment is not necessary to protect the
Trustee against discharge of such Mortgage Loan by the Company or any valid
assertion that any Person other than the Trustee has title to or any rights in
such Mortgage Loan. In the event that the Company fails or refuses to record or
file the assignment of Mortgages or UCC-3 financing statement in the
circumstances provided above, the Trustee shall record or cause to be recorded
or filed such assignment or UCC-3 financing statement at the expense of the
Company. In connection with any such recording or filing, the Company shall
furnish such documents as may be reasonably necessary to accomplish such
recording or filing. Notwithstanding the foregoing, at any time the Company may
record or file, or cause to be recorded or filed, the assignments of Mortgages
or UCC-3 financing statement at the expense of the Company.
Section 2.02. Acceptance by Trustee. Subject to the examination hereinafter
provided, the Trustee acknowledges receipt of the Mortgage Notes, the
assignments of the Mortgages to the Trustee, the assumption and modification
agreements, if any, the documents specified in Section 2.01(b)(2) (subject to
any permitted delayed delivery of the documents described in Section
2.01(c)(4)), and the Designated Loan Closing Documents, if any, delivered
pursuant to Section 2.01, and declares that the Trustee holds and will hold such
documents and each other document delivered to it pursuant to Section 2.01 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 the
Certificateholders, to review each Mortgage File within 45 days after (i) the
execution and delivery of this Agreement, in the case of the Mortgage Notes, the
assignments of the Mortgages to the Trustee, the assumption and modification
agreements, if any, the documents specified in Section 2.01(b)(2) (subject to
any permitted delayed delivery of the documents described in Section
2.01(c)(4)), and the Designated Loan Closing Documents, if any, (ii) delivery to
the Trustee after the Closing Date of the Mortgage Notes and the assumption and
modification agreements, if any, with respect to each Designated Loan, and (iii)
delivery of the recorded Mortgages, title insurance policies, recorded
intervening assignments of Mortgage, if any, and filed intervening UCC-3
financing statements, if any, with respect to any Cooperative Loan to ascertain
that all required documents set forth in Section 2.01 have been executed,
received and recorded, if applicable, and that such documents relate to the
Mortgage Loans identified in Exhibit C hereto. In performing such examination,
the Trustee may conclusively assume the due execution and genuineness of any
such document and the genuineness of any signature thereon. It is understood
that the scope of the Trustee's examination of the Mortgage Files is limited
solely to confirming, after receipt of the documents listed in Section 2.01,
that such documents have been executed, received and recorded, if applicable,
and relate to the Mortgage Loans identified in Exhibit C to this Agreement. If
in the course of such review the Trustee finds (1) that any document required to
be delivered as aforesaid has not been delivered, or (2) any such document has
been mutilated, defaced or physically altered without the borrower's
authorization or approval, or (3) based upon its examination of such documents,
the information with respect to any Mortgage Loan set forth on Exhibit C is not
accurate, the Trustee shall promptly so notify the Company in writing, which
shall have a period of 60 days after receipt of such notice to correct or cure
any such defect. The Company hereby covenants and agrees that, if any such
material defect cannot be corrected or cured, the Company will on a Distribution
Date which is not later than the first Distribution Date which is more than ten
days after the end of such 60-day period repurchase the related Mortgage Loan
from the Trustee at the Purchase Price therefor or replace such Mortgage Loan
pursuant to Section 2.03(b); provided, however, that if the defect (or breach
pursuant to Section 2.03(a)) is one that, had it been discovered before the
Startup Day, would have prevented the Mortgage Loan from being a "qualified
mortgage" within the meaning of the REMIC Provisions, such defect or breach
shall be cured, or the related Mortgage Loan shall be repurchased or replaced,
on a Distribution Date which falls within 90 days of the date of discovery of
such defect or breach. The Purchase Price for the repurchased Mortgage Loan, or
any amount required in respect of a substitution pursuant to Section 2.03(b),
shall be deposited by the Company in the Certificate Account pursuant to Section
3.02(d) on the Business Day prior to the applicable Distribution Date and, upon
receipt by the Trustee of written notification of such deposit signed by a
Servicing Officer, the Trustee shall release or cause to be released to the
Company the related Mortgage File and shall execute and deliver or cause to be
executed and delivered such instruments of transfer or assignment, in each case
without recourse, as shall be necessary to vest in the Company any Mortgage Loan
released pursuant hereto. It is understood and agreed that the obligation of the
Company to repurchase or replace any Mortgage Loan as to which a material defect
in a constituent document exists shall constitute the sole remedy respecting
such defect available to Certificateholders or the Trustee on behalf of
Certificateholders.
Upon receipt by the Trustee of the Mortgage Note with respect to a
Designated Loan that is not defective in accordance with the fifth sentence of
the preceding paragraph, the related Lost Note Affidavit delivered pursuant to
Section 2.01 shall be void and the Trustee shall return it to the Company.
Section 2.03. Representations and Warranties of the Company; Mortgage Loan
Repurchase. (a) The Company hereby represents and warrants to the Trustee that:
(i) The information set forth in Exhibit C hereto was true and correct
in all material respects at the date or dates respecting which such
information is furnished;
(ii) As of the date of the initial issuance of the Certificates, other
than with respect to Cooperative Loans, each Mortgage is a valid and
enforceable first lien on the property securing the related Mortgage Note
subject only to (a) the lien of current real property taxes and
assessments, (b) covenants, conditions and restrictions, rights of way,
easements and other matters of public record as of the date of recording of
such Mortgage, such exceptions appearing of record being acceptable to
mortgage lending institutions generally in the area wherein the property
subject to the Mortgage is located or specifically reflected in the
appraisal obtained in connection with the origination of the related
Mortgage Loan obtained by the Company and (c) other matters to which like
properties are commonly subject which do not materially interfere with the
benefits of the security intended to be provided by such Mortgage;
(iii) Immediately prior to the transfer and assignment herein
contemplated, the Company had good title to, and was the sole owner of,
each Mortgage Loan and all action had been taken to obtain good record
title to each related Mortgage. Each Mortgage Loan has been transferred
free and clear of any liens, claims and encumbrances;
(iv) As of the date of the initial issuance of the Certificates, no
payment of principal of or interest on or in respect of any Mortgage Loan
is 30 or more days past due and none of the Mortgage Loans have been past
due 30 or more days more than once during the preceding 12 months;
(v) As of the date of the initial issuance of the Certificates, other
than with respect to Cooperative Loans, there is no mechanics' lien or
claim for work, labor or material affecting the premises subject to any
Mortgage which is or may be a lien prior to, or equal or coordinate with,
the lien of such Mortgage except those which are insured against by the
title insurance policy referred to in (x) below;
(vi) As of the date of the initial issuance of the Certificates, other
than with respect to Cooperative Loans, there is no delinquent tax or
assessment lien against the property subject to any Mortgage;
(vii) As of the date of the initial issuance of the Certificates,
there is no valid offset, defense or counterclaim to any Mortgage Note or
Mortgage, including the obligation of the Mortgagor to pay the unpaid
principal and interest on such Mortgage Note;
(viii) As of the date of the initial issuance of the Certificates, the
physical property subject to any Mortgage (or, in the case of a Cooperative
Loan, the related Cooperative Apartment) is free of material damage and is
in good repair;
(ix) Each Mortgage Loan at the time it was made complied in all
material respects with applicable state and federal laws, including,
without limitation, usury, equal credit opportunity and disclosure laws;
(x) Other than with respect to Cooperative Loans, a lender's title
insurance policy or binder, or other assurance of title insurance customary
in the relevant jurisdiction therefor was issued on the date of the
origination of each Mortgage Loan and each such policy or binder is valid
and remains in full force and effect;
(xi) Each Mortgage Loan (other than a Pledged Asset Mortgage Loan)
that had, as of the Cut-off Date, a Loan-to-Value Ratio of more than 80% is
covered by a Primary Insurance Policy so long as its then outstanding
principal amount exceeds 80% of the greater of (a) the Original Value and
(b) the then current value of the related Mortgaged Property as evidenced
by an appraisal thereof satisfactory to the Company, except to the extent
such coverage may otherwise be terminable under applicable law. Each
Primary Insurance Policy is issued by a private mortgage insurer acceptable
to FNMA or FHLMC;
(xii) Each Mortgage Note is payable on the first day of each month in
self-amortizing monthly installments of principal and interest, with
interest payable in arrears, over an original term of not more than the
Designated Maturity;
(xiii) Other than with respect to Cooperative Loans, the improvements
on the Mortgaged Properties are insured against loss under a hazard
insurance policy with extended coverage and conforming to the requirements
of Section 3.06 hereof. As of the date of initial issuance of the
Certificates, all such insurance policies are in full force and effect;
(xiv) As to each condominium securing a Mortgage Loan or the related
Mortgage Loan, (a) the related condominium is in a project that is on the
FNMA or FHLMC approved list, (b) the related condominium is in a project
that, upon submission of appropriate application, could be so approved by
either FNMA or FHLMC, (c) the related Mortgage Loan meets the requirements
for purchase by FNMA or FHLMC, (d) the related Mortgage Loan is of the type
that could be approved for purchase by FNMA or FHLMC but for the principal
balance of the related Mortgage Loan or the pre-sale requirements or (e)
the related Mortgage Loan has been approved by a nationally recognized
mortgage pool insurance company for coverage under a mortgage pool
insurance policy issued by such insurer;
(xv) Other than with respect to Cooperative Loans, no Mortgage Loan is
secured by a leasehold interest in the related Mortgaged Property and each
Mortgagor holds fee title to the related Mortgaged Property;
(xvi) The Mortgage Loans and the Mortgaged Properties, individually and in
the aggregate, conform in all material respects to the applicable
descriptions thereof contained in the Prospectus;
(xvii) All appraisals have been prepared substantially in accordance
with the description contained under the caption "The Trusts -- The
Mortgage Loans" in the Prospectus;
(xviii) No selection procedures, other than those necessary to comply
with the representations and warranties set forth herein or the description
of the Mortgage Loans made in any disclosure document delivered to
prospective investors in the Certificates, have been utilized in selecting
the Mortgage Loans from the Company's portfolio which would be adverse to
the interests of the Certificateholders;
(xix) Other than with respect to Cooperative Loans, to the best of the
Company's knowledge, at origination no improvement located on or being part
of a Mortgaged Property was in violation of any applicable zoning and
subdivision laws and ordinances;
(xx) None of the Mortgage Loans is a temporary construction loan. With
respect to any Mortgaged Property which constitutes new construction, the
related construction has been completed substantially in accordance with
the specifications therefor and any incomplete aspect of such construction
shall not be material or interfere with the habitability or legal occupancy
of the Mortgaged Property. Mortgage Loan amounts sufficient to effect any
such completion are in escrow for release upon or in connection with such
completion or a performance bond or completion bond is in place to provide
funds for this purpose and such completion shall be accomplished within 120
days after weather conditions permit the commencement thereof;
(xxi) As of the Closing Date, each Mortgage Loan is a "qualified
mortgage" as defined in Section 860G(a)(3) of the Code;
(xxii) As of the Closing Date, the Company possesses the Document File
with respect to each Mortgage Loan, and, other than with respect to
Cooperative Loans, the related Mortgages and intervening assignment or
assignments of Mortgages, if any, have been delivered to a title insurance
company for recording;
(xxiii) With respect to each Mortgage Loan identified in Exhibit C as
a Cooperative Loan:
(A) The Security Agreement creates a first lien in the stock
ownership and leasehold rights associated with the related Cooperative
Apartment;
(B) The lien created by the related Security Agreement is a
valid, enforceable and subsisting first priority security interest in
the related Cooperative Stock securing the related Mortgage Note,
subject only to (a) liens of the Cooperative for unpaid assessments
representing the Mortgagor's pro rata share of the Cooperative's
payments for its blanket mortgage, current and future real property
taxes, insurance premiums, maintenance fees and other assessments to
which like collateral is commonly subject and (b) other matters to
which like collateral is commonly subject which do not materially
interfere with the benefits of the security intended to be provided by
the Security Agreement. There are no liens against or security
interest in the Cooperative Stock relating to such Cooperative Loan
(except for unpaid maintenance, assessments and other amounts owed to
the related Cooperative which individually or in the aggregate do not
have a material adverse effect on such Cooperative Loan), which have
priority over the Trustee's security interest in such Cooperative
Stock;
(C) The Cooperative Stock that is pledged as security for the
Mortgage Loan is held by a person as a "tenant-stockholder" within the
meaning of section 216 of the Code, the related Cooperative that owns
title to the related cooperative apartment building is a "cooperative
housing corporation" within the meaning of section 216 of the Code,
and such Cooperative is in material compliance with applicable
federal, state and local laws which, if not complied with, could have
a material adverse effect on the Mortgaged Property; and
(D) There is no prohibition against pledging the Cooperative
Stock or assigning the Proprietary Lease; and
(xxiv) With respect to each Mortgage Loan identified on Exhibit C as
having been originated or acquired under the Company's Enhanced Streamlined
Refinance program, the value of the related Mortgaged Property, as of the
date of such origination or acquisition under the Company's Enhanced
Streamlined Refinance program, is no less than the value thereof
established at the time the mortgage loan that is the subject of the
refinancing was originated.
It is understood and agreed that the representations and warranties set
forth in this Section 2.03(a) shall survive delivery of the respective Mortgage
Files to the Trustee. Upon discovery by either the Company or the Trustee of a
breach of any of the foregoing representations and warranties which 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. Subject to the following sentence, within 60 days of its
discovery or its receipt of notice of breach, or, with the prior written consent
of a Responsible Officer of the Trustee, such longer period specified in such
consent, the Company shall cure such breach in all material respects or shall
repurchase such Mortgage Loan from the Trustee or replace such Mortgage Loan
pursuant to Section 2.03(b). Any such repurchase by the Company shall be
accomplished in the manner set forth in Section 2.02, subject to the proviso of
the third-to-last sentence thereof, and at the Purchase Price. It is understood
and agreed that the obligation of the Company to repurchase or replace any
Mortgage Loan as to which a breach 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 of the Company to
repurchase or replace any such Mortgage Loan shall not be assumed by any Person
which may succeed the Company as servicer hereunder, but shall continue as an
obligation of the Company. Notwithstanding the preceding sentence, if a breach
of the representation and warranty of the Company contained in Section
2.03(a)(ix) occurs as a result of a violation of the federal Truth in Lending
Act, 15 U.S.C. ss. 1601 et seq., as amended ("TILA") or any state truth-in
lending or similar statute, and the Trustee or the Trust Fund is named as a
defendant in a TILA suit or a suit under any such statutes in respect of such
violation and liability in respect thereof is imposed upon the Trustee or the
Trust Fund as assignees of the related Mortgage Loan pursuant to Section 1641 of
TILA, or any analogous provision of any such statute, the Company shall
indemnify the Trustee and the Trust Fund from, and hold them harmless against,
any and all losses, liabilities, damages, claims or expenses (including
reasonable attorneys' fees) to which the Trustee and the Trust Fund, or either
of them, become subject pursuant to TILA or any such statute, insofar as such
losses, damages, claims or expenses (including reasonable attorneys' fees)
result from such violation. The Company's obligations under the preceding
sentence shall not impair or derogate from the Company's obligations to the
Trustee under Section 8.05.
(b) If the Company is required to repurchase any Mortgage Loan pursuant to
Section 2.02 or 2.03(a), the Company may, at its option, within the applicable
time period specified in such respective Sections, remove such Defective
Mortgage Loan from the terms of this Agreement and substitute one or more other
mortgage loans for such Defective Mortgage Loan, in lieu of repurchasing such
Defective Mortgage Loan, provided that no such substitution shall occur more
than two years after the Closing Date. Any substitute Mortgage Loan shall (a)
have a Scheduled Principal Balance (together with that of any other Mortgage
Loan substituted for the same Defective Mortgage Loan) as of the first
Distribution Date following the month of substitution not in excess of the
Scheduled Principal Balance of the Defective Mortgage Loan as of such date (the
amount of any difference, plus one month's interest thereon at the respective
Net Mortgage Rate, to be deposited by the Company in the Certificate Account
pursuant to Section 2.02), (b) have a Mortgage Rate not less than, and not more
than one percentage point greater than, the Mortgage Rate of the Defective
Mortgage Loan, (c) have the same Net Mortgage Rate as the Defective Mortgage
Loan, (d) have a remaining term to stated maturity not later than, and not more
than one year less than, the remaining term to stated maturity of the Defective
Mortgage Loan, (e) be, in the reasonable determination of the Company, of the
same type, quality and character as the Defective Mortgage Loan as if the defect
or breach had not occurred, (f) have a ratio of its current principal amount to
its Original Value not greater than that of the removed Mortgage Loan and (g)
be, in the reasonable determination of the Company, in compliance with the
representations and warranties contained in Section 2.03(a), other than
subparagraph (xvi) thereof, as of the date of substitution.
The Company shall amend the Mortgage Loan Schedule to reflect the
withdrawal of any Defective Mortgage Loan and the substitution of a substitute
Mortgage Loan therefor. Upon such amendment the Company shall be deemed to have
made as to such substitute Mortgage Loan the representations and warranties set
forth in Section 2.03(a), other than subparagraph (xvi) thereof, as of the date
of such substitution, which shall be continuing as long as any Certificate shall
be outstanding or this Agreement has not been terminated, and the remedies for
breach of any such representation or warranty shall be as set forth in Section
2.03(a). Upon such amendment, the Trustee shall review the Mortgage File
delivered to it relating to the substitute Mortgage Loan, within the time and in
the manner and with the remedies specified in Section 2.02, except that for
purposes of this Section 2.03(b) (other than the two-year period specified in
the first sentence of the preceding paragraph of this Section 2.03(b)), such
time shall be measured from the date of the applicable substitution.
Section 2.04. Execution of Certificates. The Trustee has caused to be
executed, countersigned and delivered to or upon the order of the Company, in
exchange for the Mortgage Loans, the Certificates in authorized denominations
evidencing the entire ownership of the Trust Fund.
Section 2.05. Designations under the REMIC Provisions. (a) The Company
hereby designates the Classes of Certificates identified in Section 5.01(b),
other than the Residual Certificate, as "regular interests," and the Class R
Certificate as the single class of "residual interest," in the REMIC established
hereunder for purposes of the REMIC Provisions. The assets of the REMIC
established hereunder will consist of the assets and rights specified in clauses
(i) though (viii) of the definition of the term Trust Fund, and any Rounding
Accounts.
(b) The Closing Date will be the "Startup Day" for the REMIC established
hereunder for purposes of the REMIC Provisions.
(c) The "tax matters person" with respect to the REMIC established
hereunder for purposes of the REMIC Provisions shall be (i) the Company, if the
Company is the owner of a Class R Certificate, or (ii) in any other case, the
beneficial owner of the Class R Certificate having the largest Percentage
Interest of such Class; provided, however, that such largest beneficial owner
and, to the extent relevant, each other holder of a Class R Certificate, by its
acceptance thereof irrevocably appoints the Company as its agent and
attorney-in-fact to act as "tax matters person" with respect to the REMIC
established hereunder for purposes of the REMIC Provisions.
(d) The "latest possible maturity date" of the regular interests in the
REMIC established hereunder is the Latest Possible Maturity Date for purposes of
section 860G(a)(1) of the Code.
(e) In the event that the Servicing Fee exceeds the amount reasonable for
such services (within the meaning of Treasury Regulation 1.860D-1(b)(1)(ii)),
the portion or portions of such fee that can be measured as a fixed number of
basis points on some or all of the Mortgage Loans and can be treated as one or
more stripped coupons within the meaning of Treasury Regulation
1.860D-1(b)(2)(iii) shall be treated as such stripped coupons and shall not be
treated as a REMIC asset.
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer. (a) It is intended that the REMIC
established hereunder shall constitute, and that the affairs of the REMIC shall
be conducted so as to qualify the Trust Fund (other than any collateral fund
established under the agreement referred to in Section 3.08(e)) as, a "real
estate mortgage investment conduit" as defined in and in accordance with the
REMIC Provisions. In furtherance of such intention, the Company covenants and
agrees that it shall act as agent (and the Company is hereby appointed to act as
agent) on behalf of the Trust Fund and the Holders of the Residual Certificates
and that in such capacity it shall:
(i) prepare and file, or cause to be prepared and filed, in a timely
manner, a U.S. Real Estate Mortgage Investment Conduit Income Tax Return
(Form 1066) and prepare and file or cause to be prepared and filed with the
Internal Revenue Service and applicable state or local tax authorities
income tax or information returns for each taxable year with respect to the
REMIC established hereunder, using the calendar year as the taxable year
and the accrual method of accounting, containing such information and at
the times and in the manner as may be required by the Code or state or
local tax laws, regulations, or rules, and shall furnish or cause to be
furnished to Certificateholders the schedules, statements or information at
such times and in such manner as may be required thereby;
(ii) within thirty days of the Closing Date, shall furnish or cause to
be furnished to the Internal Revenue Service, on Form 8811 or as otherwise
may be required by the Code, the name, title, address, and telephone number
of the person that the holders of the Certificates may contact for tax
information relating thereto (and the Company shall act as the
representative of the REMIC established hereunder for this purpose),
together with such additional information as may be required by such Form,
and shall update such information at the time or times and in the manner
required by the Code;
(iii) make or cause to be made an election, on behalf of the REMIC
established hereunder, to be treated as a REMIC, and make the appropriate
designations, if applicable, in accordance with Section 2.05 hereof on the
federal tax return of the Trust Fund for its first taxable year (and, if
necessary, under applicable state law);
(iv) prepare and forward, or cause to be prepared and forwarded, to
the Certificateholders and to the Internal Revenue Service and, if
necessary, state tax authorities, all information returns or reports, or
furnish or cause to be furnished by telephone, mail, publication or other
appropriate method such information, as and when required to be provided to
them in accordance with the REMIC Provisions, including without limitation,
the calculation of any original issue discount using the Prepayment
Assumption Multiple;
(v) provide information necessary for the computation of tax imposed
on the transfer of a Residual Certificate to a Disqualified Organization,
or an agent (including a broker, nominee or other middleman) of a
Disqualified Organization, or a pass-through entity in which a Disqualified
Organization is the record holder of an interest (the reasonable cost of
computing and furnishing such information may be charged to the Person
liable for such tax);
(vi) use its best reasonable efforts to conduct the affairs of the
REMIC established hereunder at all times that any Certificates are
outstanding so as to maintain the status thereof as a REMIC under the REMIC
Provisions;
(vii) not knowingly or intentionally take any action or omit to take
any action that would cause the termination of the REMIC status of the
REMIC or that would subject the Trust Fund to tax;
(viii) exercise reasonable care not to allow the creation of any
"interests" in the REMIC within the meaning of section 860D(a)(2) of the
Code other than the interests represented by the Classes of Certificates
identified in Section 5.01(b);
(ix) exercise reasonable care not to allow the occurrence of any
"prohibited transactions" within the meaning of section 860F of the Code,
unless the Company shall have provided an Opinion of Counsel to the Trustee
that such occurrence would not (a) result in a taxable gain, (b) otherwise
subject the Trust Fund to tax, or (c) cause any REMIC established hereunder
to fail to qualify as a REMIC;
(x) exercise reasonable care not to allow the Trust Fund to receive
income from the performance of services or from assets not permitted under
the REMIC Provisions to be held by a REMIC;
(xi) pay the amount of any federal or state tax, including prohibited
transaction taxes, taxes on certain contributions to the REMIC after the
Startup Day, and taxes on net income from foreclosure property, imposed on
the Trust Fund when and as the same shall be due and payable (but such
obligation shall not prevent the Company or any other appropriate Person
from contesting any such tax in appropriate proceedings and shall not
prevent the Company from withholding payment of such tax, if permitted by
law, pending the outcome of such proceedings);
(xii) ensure that federal, state or local income tax or information
returns shall be signed by the Trustee or such other person as may be
required to sign such returns by the Code or state or local laws,
regulations or rules; and
(xiii) maintain such records relating to the REMIC established
hereunder, including but not limited to the income, expenses, individual
Mortgage Loans (including Mortgaged Property), other assets and liabilities
thereof, and the fair market value and adjusted basis of the property of
each determined at such intervals as may be required by the Code, as may be
necessary to prepare the foregoing returns, schedules, statements or
information.
The Company shall be entitled to be reimbursed pursuant to Section 3.04 for
any federal income taxes paid by it pursuant to clause (xi) of the preceding
sentence, except to the extent that such taxes are imposed as a result of the
bad faith, misfeasance or negligence of the Company in the performance of its
obligations hereunder. With respect to any reimbursement of prohibited
transaction taxes, the Company shall inform the Trustee of the circumstances
under which such taxes were incurred.
(b) The Company shall service and administer the Mortgage Loans and shall
have full power and authority, acting alone or through one or more Primary
Servicers, to do any and all things in connection with such servicing and
administration which it may deem necessary or desirable. Without limiting the
generality of the foregoing, the Company shall continue, and is hereby
authorized and empowered by the Trustee, to execute and deliver, or file, as
appropriate, on behalf of itself, the Certificateholders and the Trustee or any
of them, any and all continuation statements, termination statements,
instruments of satisfaction or cancellation, or of partial or full release or
discharge and all other comparable instruments, with respect to the Mortgage
Loans and with respect to the properties subject to the Mortgages. Without
limitation of the foregoing, if the Company in its individual capacity agrees to
refinance any Mortgage Loan upon the request of the related Mortgagor, the
Company, as servicer hereunder, may execute an instrument of assignment in
customary form to the Company in its individual capacity. In connection with any
such refinancing, the Trustee shall, upon certification of a Servicing Officer
to the effect that an amount equal to the principal balance of the related
Mortgage Loan together with accrued and unpaid interest thereon at the
applicable Net Mortgage Rate to the date of such certification has been credited
to the Mortgage Loan Payment Record, release the related Mortgage File to the
Company whereupon the Company may cancel the related Mortgage Note. Upon request
by the Company after the execution and delivery of this Agreement, the Trustee
shall furnish the Company with any powers of attorney and other documents
necessary or appropriate to enable the Company to carry out its servicing and
administrative duties hereunder. Except as otherwise provided herein, the
Company shall maintain servicing standards substantially equivalent to those
required for approval by FNMA or FHLMC. The Company shall not agree to any
modification of the material terms of any Mortgage Loan except as provided in
the second sentence of Section 3.02(a) and in Section 3.07. The Company shall
not release any portion of any Mortgaged Property from the lien of the related
Mortgage unless the related Mortgage Loan would be a "qualified mortgage" within
the meaning of the REMIC Provisions following such release.
(c) [Intentionally Omitted.]
(d) The relationship of the Company (and of any successor to the Company as
servicer under this Agreement) 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.
(e) All costs incurred by the Company in effecting the timely payment of
taxes and assessments on the properties subject to the Mortgage Loans shall not,
for the purpose of calculating monthly distributions to Certificateholders, be
added to the amount owing under the related Mortgage Loans, notwithstanding that
the terms of such Mortgage Loans so permit, and such costs shall be recoverable
by the Company to the extent permitted by Section 3.04. The Company shall
collect such amounts from the Mortgagor and shall credit the Mortgage Loan
Payment Record accordingly.
(f) If the Company enters into a servicing agreement with any servicer (a
"Primary Servicer") pursuant to which such Primary Servicer shall directly
service certain Mortgage Loans and the Company shall perform master servicing
with respect thereto, the Company shall not be released from its obligations to
the Trustee and Certificateholders with respect to the servicing and
administration of the Mortgage Loans in accordance with the provisions of
Article III hereof and such obligations shall not be diminished by virtue of any
such servicing agreement or arrangement and the Company shall be obligated to
the same extent and under the same terms and conditions as if the Company alone
were servicing and administering the Mortgage Loans. Any amounts received by a
Primary Servicer in respect of a Mortgage Loan shall be deemed to have been
received by the Company whether or not actually received by it. Any servicing
agreement that may be entered into and any transactions or services relating to
the Mortgage Loans involving a Primary Servicer in its capacity as such shall be
deemed to be between the Company and the Primary Servicer alone, and the Trustee
and the Certificateholders shall have no claims, obligations, duties or
liabilities with respect thereto. Notwithstanding the foregoing, in the event
the Company has been removed as the servicer hereunder pursuant to Section 6.04
or Section 7.01, the Trustee or any successor servicer appointed pursuant to
Section 7.02 shall succeed to all of the Company's rights and interests (but not
to any obligations or liabilities of the Company arising prior to the date of
succession) under any servicing agreement with any Primary Servicer in respect
of the Mortgage Loans, subject to the limitation on the Trustee's
responsibilities under Section 7.02.
(g) In no event shall any collateral fund established under the agreement
referred to in Section 3.08(e) constitute an asset of any REMIC established
hereunder.
Section 3.02. Collection of Certain Mortgage Loan Payments; Mortgage Loan
Payment Record; Certificate Account. (a) The Company shall make reasonable
efforts to collect all payments called for under the terms and provisions of the
Mortgage Loans, and shall, to the extent such procedures shall be consistent
with this Agreement, follow such collection procedures as it follows with
respect to mortgage loans comparable to the Mortgage Loans in its servicing
portfolio. Consistent with the foregoing, the Company may in its discretion (i)
waive any late payment charge or any assumption fees or other fees which may be
collected in the ordinary course of servicing such Mortgage Loan and (ii) if a
default on the Mortgage Loan has occurred or is reasonably foreseeable, arrange
at any time prior to foreclosure with a Mortgagor a schedule for the payment of
due and unpaid principal and interest for a period extending not longer than two
years after the date that such schedule is arranged. Any arrangement of the sort
described in clause (ii) above shall not affect the amount or timing of the
Company's obligation to make Monthly Advances with respect to any Mortgage Loan
which Monthly Advances shall be made pursuant to the original amortization
schedule applicable to such Mortgage Loan.
(b) The Company shall establish and maintain a Mortgage Loan Payment Record
in which the following payments on and collections in respect of each Mortgage
Loan shall as promptly as practicable be credited by the Company for the account
of the Holders of the Certificates:
(i) All payments on account of principal, including Principal
Prepayments (other than (A) payments of principal due and payable on the
Mortgage Loans on or before, and all Principal Prepayments received before,
the Cut-off Date, (B) in the case of a substitute Mortgage Loan, payments
of principal due and payable on such Mortgage Loan on or before the
Determination Date in the month of substitution, and all Principal
Prepayments received before the first day of the month of substitution, and
(C) in the case of a replaced Mortgage Loan, payments of principal due and
payable on such Mortgage Loan after the Determination Date in the month of
substitution, and all Principal Prepayments received in the month of
substitution);
(ii) All payments (other than (A) those due and payable on or before
the Cut-off Date, (B) in the case of a substitute Mortgage Loan, those due
and payable on such Mortgage Loan on or before the Determination Date in
the month of substitution, and (C) in the case of a replaced Mortgage Loan,
those due and payable on such Mortgage Loan after the Determination Date in
the month of substitution) on account of interest at the applicable Net
Mortgage Rate on the Mortgage Loan received from the related Mortgagor,
including any Buydown Funds applied with respect to interest at the
applicable Net Mortgage Rate on any Buydown Mortgage Loan;
(iii) All Liquidation Proceeds received by the Company with respect to
such Mortgage Loan and the Purchase Price for any Mortgage Loan purchased
by the Company pursuant to Sections 2.02, 2.03 and 3.16 (including any
amounts received in respect of a substitution of a Mortgage Loan);
(iv) All Insurance Proceeds (including, for this purpose, any amounts
required to be credited by the Company pursuant to the last sentence of
Section 3.06) received by the Company for the benefit of the Trust Fund,
other than proceeds to be applied to the restoration or repair of the
property subject to the related Mortgage or released, or to be released, to
the related Mortgagor in accordance with the normal servicing procedures of
the Company;
(v) All REO Proceeds;
(vi) All Unanticipated Recoveries; and
(vii) All amounts received by the Company with respect to any Pledged
Asset Mortgage Loan pursuant to the liquidation of any Additional
Collateral or pursuant to any recovery under the Surety Bond in accordance
with Section 4.09.
The foregoing requirements respecting credits to the Mortgage Loan Payment
Record are exclusive, it being understood that, without limiting the generality
of the foregoing, the Company need not enter in the Mortgage Loan Payment Record
collections, Liquidation Proceeds or Insurance Proceeds in respect of Mortgage
Loans which have been previously released from the terms of this Agreement,
amounts representing fees or late charge penalties payable by Mortgagors, or
amounts received by the Company for the account of Mortgagors for application
towards the payment of taxes, insurance premiums, assessments and similar items.
(c) Subject to subsection (e) below, until the Business Day prior to each
Distribution Date on which amounts are required to be transferred to the
Certificate Account pursuant to subsection (d) of this Section 3.02, the Company
may retain and commingle such amounts with its own funds and shall be entitled
to retain for its own account any gain or investment income thereon, and any
such investment income shall not be subject to any claim of the Trustee or
Certificateholders. To the extent that the Company realizes any net loss on any
such investments, the Company shall deposit in the Certificate Account an amount
equal to such net loss at the time the Company is required to deposit amounts in
the Certificate Account pursuant to subsection (d) of this section 3.02. Any
such deposit shall not increase the Company's obligation under said subsection
(d).
(d) The Trustee shall establish and maintain with the Trustee in its
corporate trust department a single separate trust account designated in the
name of the Trustee for the benefit of the Holders of the Certificates issued
hereunder (the "Certificate Account") into which the Company shall transfer, not
later than 11:00 a.m. New York time on the Business Day prior to each
Distribution Date, an amount in next day funds equal to the sum of Available
Funds for such Distribution Date and any Unanticipated Recoveries received in
the calendar month preceding the month of such Distribution Date. If the Trustee
does not receive such transfer by 2:00 p.m. on such Business Day, it shall give
the Company written notice thereof.
(e) If the Company or a Responsible Officer of the Trustee obtains actual
notice of or knowledge of the occurrence of either (x) any Trigger Event or (y)
the downgrade by S&P of General Electric Capital Corporation's short-term senior
unsecured debt rating below A-1+ then, notwithstanding subsection (c) above, the
Company shall promptly establish, and thereafter maintain, one or more Eligible
Accounts in the name of the Trustee and bearing a designation indicating that
amounts therein are held for the benefit of the Trustee and the
Certificateholders, into which the Company and any Primary Servicer shall
deposit within two Business Days after receipt, all amounts otherwise required
to be credited to the Mortgage Loan Payment Record pursuant to Section 3.02(b);
provided, however, that such action shall not be required if the Company
delivers to the Trustee a letter from each Rating Agency to the effect that the
failure to take such action will not cause such Rating Agency to withdraw or
reduce its then current ratings of the Certificates. All amounts so deposited
shall be held in trust for the benefit of Certificateholders. Amounts so
deposited may be invested at the written instruction of the Company in Permitted
Investments in the name of the Trustee maturing no later than the Business Day
preceding the Distribution Date following the date of such investment; provided,
however, that any such Permitted Investment which is an obligation of State
Street Bank and Trust Company, in its individual capacity and not in its
capacity as Trustee, may mature on such Distribution Date; and, provided
further, that no such Permitted Investment shall be sold before the maturity
thereof if the sale thereof would result in the realization of gain prior to
maturity unless the Company has obtained an Opinion of Counsel that such sale or
disposition will not cause the Trust Fund to be subject to the tax on prohibited
transactions under section 860F of the Code, or otherwise subject the Trust Fund
to tax or cause the REMIC established hereunder to fail to qualify as a REMIC.
The Trustee shall maintain physical possession of all Permitted Investments,
other than Permitted Investments maintained in book-entry form. The Company, as
servicer, shall be entitled to retain for its own account any gain or other
income from Permitted Investments, and neither the Trustee nor
Certificateholders shall have any right or claim with respect to such income.
The Company shall deposit an amount equal to any loss realized on any Permitted
Investment as soon as any such loss is realized. If the provisions in this
subsection (e) become operable, references in this Agreement to the Mortgage
Loan Payment Record and credits and debits to such Record shall be deemed to
refer to Eligible Accounts and transfers to and withdrawals from such Eligible
Accounts. Any action which may be necessary to establish the terms of an account
pursuant to this Section 3.02(e) may be taken by an amendment or supplement to
this Agreement or pursuant to a written order of the Company, which amendment,
supplement or order shall not require the consent of Certificateholders,
provided that the Company has delivered to the Trustee a letter from each Rating
Agency to the effect that such amendment, supplement or order will not cause
such Rating Agency to withdraw or reduce its then current ratings of the
Certificates.
Section 3.03. Collection of Taxes, Assessments and Other Items. Other than
with respect to any Cooperative Loan, the Company shall establish and maintain
with one or more depository institutions one or more accounts into which it
shall deposit all collections of taxes, assessments, private mortgage or hazard
insurance premiums or comparable items for the account of the Mortgagors. As
servicer, the Company shall effect the timely payment of all such items for the
account of Mortgagors. Withdrawals from such account or accounts may be made
only to effect payment of taxes, assessments, private mortgage or standard
hazard insurance premiums or comparable items, to reimburse the Company out of
related collections for any payments made regarding taxes and assessments or for
any payments made pursuant to Section 3.05 regarding premiums on Primary
Insurance Policies and Section 3.06 regarding premiums on standard hazard
insurance policies, to refund to any Mortgagors any sums determined to be
overages, or to pay interest owed to Mortgagors to the extent required by law.
Section 3.04. Permitted Debits to the Mortgage Loan Payment Record. The
Company (or any successor servicer pursuant to Section 7.02) may, from time to
time, make debits to the Mortgage Loan Payment Record for the following
purposes:
(i) To reimburse the Company or the applicable Primary Servicer for
Liquidation Expenses theretofore incurred in respect of any Mortgage Loan
in an amount not to exceed the amount of the related Liquidation Proceeds
credited to the Mortgage Loan Payment Record pursuant to Section
3.02(b)(iii); provided that the Company or the applicable Primary Servicer
shall not be entitled to reimbursement for Liquidation Expenses incurred
after the initiation of foreclosure proceedings in respect of any Defaulted
Mortgage Loan that is repurchased pursuant to Section 3.16;
(ii) To reimburse the Company or the applicable Primary Servicer for
Insured Expenses and amounts expended by it pursuant to Section 3.08 in
good faith in connection with the restoration of property damaged by an
Uninsured Cause, in an amount not to exceed the amount of the related
Insurance Proceeds and Liquidation Proceeds (net of any debits pursuant to
clause (i) above) and amounts representing proceeds of other insurance
policies covering the property subject to the related Mortgage credited to
the Mortgage Loan Payment Record pursuant to Section 3.02(b) (iii) and
(iv);
(iii) To reimburse the Company to the extent permitted by Sections
3.01(a) and 6.04; (iv) To pay to the Company amounts received in respect of
any Defective Mortgage Loan or Defaulted Mortgage Loan purchased by the
Company to the extent that the distribution of any such amounts on the
Distribution Date upon which the proceeds of such purchase are distributed
would make the total amount distributed in respect of any such Mortgage
Loan on such Distribution Date greater than the Purchase Price therefor,
net of any unreimbursed Monthly Advances made by the Company;
(v) To reimburse the Company (or the Trustee, as applicable) for
Monthly Advances theretofore made in respect of any Mortgage Loan to the
extent of late payments, REO Proceeds, Insurance Proceeds and Liquidation
Proceeds in respect of such Mortgage Loan;
(vi) To reimburse the Company from any Mortgagor payment of interest
or other recovery with respect to a particular Mortgage Loan, to the extent
not previously retained by the Company, for unpaid Servicing Fees with
respect to such Mortgage Loan, subject to Section 3.08(d);
(vii) To reimburse the Company (or the Trustee, as applicable) for any
Nonrecoverable Advance (which right of reimbursement of the Trustee
pursuant to this clause shall be prior to such right of the Company);
(viii) To make transfers of funds to the Certificate Account pursuant
to Section 3.02(d);
(ix) To pay to the Company amounts received in respect of any Mortgage
Loan purchased by the Company pursuant to Section 9.01 to the extent that
the distribution of any such amounts on the final Distribution Date upon
which the proceeds of such purchase are distributed would make the total
amount distributed in respect of any such Mortgage Loan on such
Distribution Date greater than the purchase price therefor specified in
clause (x) of the first sentence of Section 9.01; and
(x) To deduct any amount credited to the Mortgage Loan Payment Record
in error.
The Company shall keep and maintain separate accounting records, on a
Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for debits
to the Mortgage Loan Payment Record pursuant to clauses (i), (ii), (iv), (v) and
(vi) of this Section 3.04; provided, however, that it is understood and agreed
that the records of such accounting need not be retained by the Company for a
period longer than the five most recent fiscal years.
Section 3.05. Maintenance of the Primary Insurance Policies. (a) The
Company shall not take any action which would result in non-coverage under any
applicable Primary Insurance Policy of any loss which, but for the actions of
the Company, would have been covered thereunder. To the extent coverage is
available, the Company shall keep or cause to be kept in full force and effect
each such Primary Insurance Policy until the principal balance of the related
Mortgage Note is 80% or less of the greater of (i) the related Original Value
and (ii) the then current value of the property underlying the related Mortgage
Note as evidenced by an appraisal thereof satisfactory to the Company; provided
that no such Primary Insurance Policy shall be kept in effect if doing so would
violate applicable law, including, without limitation, the Federal Homeowners
Protection Act of 1998. The Company shall not cancel or refuse to renew any such
Primary Insurance Policy applicable to a Mortgage Loan that is in effect at the
Closing Date and is required to be kept in force hereunder unless the
replacement Primary Insurance Policy for such canceled or non-renewed policy is
maintained with an insurer whose claims-paying ability is acceptable to each
Rating Agency for mortgage pass-through certificates having ratings equal to or
better than the ratings then assigned to the Certificates by such Rating Agency.
The Company agrees to effect the timely payment of the premium on each Primary
Insurance Policy, and such costs not otherwise recoverable shall be recoverable
by the Company from related Insurance Proceeds and Liquidation Proceeds pursuant
to Section 3.04.
(b) In connection with its activities as administrator and servicer of the
Mortgage Loans, the Company agrees to present, on behalf of itself, the Trustee
and the Certificateholders, claims to the insurer under each Primary Insurance
Policy and, in this regard, to take such reasonable action as shall be necessary
to permit recovery under any Primary Insurance Policy respecting a related
defaulted Mortgage Loan. To the extent provided in Section 3.02(b), any amounts
collected by the Company under any Primary Insurance Policy in respect of the
Mortgage Loans (including, without limitation, a Mortgage Loan purchased by a
related insurer) shall be credited to the Mortgage Loan Payment Record.
Section 3.06. Maintenance of Hazard Insurance. The Company shall cause to
be maintained for each Mortgage Loan, other than a Cooperative Loan, hazard
insurance with a standard mortgagee clause and with extended coverage in an
amount which is at least equal to the maximum insurable value of the
improvements securing such Mortgage Loan from time to time or the principal
balance owing on such Mortgage Loan from time to time, whichever is less. The
Company shall also maintain on property (other than Cooperative Apartments)
acquired upon foreclosure, or by deed in lieu of foreclosure, hazard insurance
with extended coverage in an amount which is at least equal to the lesser of (i)
the maximum insurable value from time to time of the improvements which are a
part of such property or (ii) the unpaid principal balance of such Mortgage Loan
at the time of such foreclosure or deed in lieu of foreclosure plus accrued
interest and the good-faith estimate of the Company of related Liquidation
Expenses to be incurred in connection therewith. To the extent provided in
Section 3.02(b)(iv), amounts collected by the Company under any such policies in
respect of the Mortgage Loans shall be credited to the Mortgage Loan Payment
Record. Such costs shall be recoverable by the Company pursuant to Sections 3.03
and 3.04. In cases in which property securing any Mortgage Loan other than a
Cooperative Loan is located in a federally designated flood area, the hazard
insurance to be maintained for such Mortgage Loan shall include flood insurance.
All such flood insurance shall be in such amounts as are required under
applicable guidelines of FNMA. The Company shall be under no obligation to
require that any Mortgagor maintain earthquake or other additional insurance and
shall be under no obligation itself to maintain any such additional insurance on
property acquired in respect of a Mortgage Loan, other than pursuant to such
applicable laws and regulations as shall at any time be in force and as shall
require such additional insurance. If the Company shall obtain and maintain a
blanket policy insuring against hazard losses on all of the Mortgage Loans
(whether or not including Cooperative Loans), it shall conclusively be deemed to
have satisfied its obligations as set forth in the first sentence of this
Section 3.06, it being understood and agreed that such policy may contain a
deductible clause, in which case the Company shall, in the event that there
shall not have been maintained on the related Mortgaged Property a policy
complying with the first sentence of this Section 3.06, and there shall have
been a loss which would have been covered by such policy, credit to the Mortgage
Loan Payment Record the amount not otherwise payable under the blanket policy
because of such deductible clause.
Section 3.07. Assumption and Modification Agreements. (a) In any case in
which property subject to a Mortgage has been or is about to be conveyed by the
Mortgagor, the Company shall exercise its right to accelerate the maturity of
such Mortgage Loan under any "due-on-sale" clause applicable thereto, unless in
the reasonable discretion of the Company, such exercise would adversely affect
or jeopardize coverage under the related Primary Insurance Policy, if any;
provided, however, that if the Company is prevented, as provided in Section
3.07(b), from enforcing any such clause, the Company is authorized to make or
enter into an assumption and modification agreement from or with the Person to
whom such property has been or is about to be conveyed, pursuant to which such
Person becomes liable under the Mortgage Note and the Mortgagor remains liable
thereon. In connection with any such assumption and modification agreement, the
Company shall apply its then current underwriting standards to such Person. The
Company shall not make or enter into any such assumption and modification
agreement, however, unless (to the extent practicable in the circumstances) it
shall have received confirmation of the continued effectiveness of any
applicable Primary Insurance Policy and hazard insurance policy. The Company
shall notify the Trustee that any assumption and modification agreement has been
completed by forwarding to the Trustee the original copy thereof, which copy
shall be added by the Trustee to the related Mortgage File and shall, for all
purposes, be considered a part of such Mortgage File to the same extent as all
other documents and instruments constituting a part thereof. In connection with
any such agreement, the Mortgage Rate, mortgage term and any other material term
of such Mortgage Loan shall not be changed. Any fee collected by the Company for
entering into any such agreement will be retained by the Company as additional
servicing compensation.
(b) Notwithstanding Section 3.07(a) or any other provision of this
Agreement, the Company shall not be deemed to be in default, breach or any other
violation of its obligations hereunder by reason of any assumption of a Mortgage
Loan, or transfer of the property subject to a Mortgage without the assumption
thereof, by operation of law or any assumption or transfer which the Company
reasonably believes it may be restricted by law from preventing, for any reason
whatsoever.
Section 3.08. Realization Upon Defaulted Mortgage Loans. (a) The Company
shall foreclose upon or otherwise comparably convert the ownership of properties
securing such of the Mortgage Loans as come into and continue in default and as
to which no satisfactory arrangements can be made for collection of delinquent
payments pursuant to Section 3.02. In connection with such foreclosure or other
conversion the Company shall, consistent with Section 3.05, follow such
practices and procedures as it shall deem necessary or advisable and as shall be
normal and usual in its general mortgage servicing activities. The foregoing is
subject to the proviso that the Company shall not be required to expend its own
funds in connection with any foreclosure or towards the restoration of any
property unless it shall determine (i) that such restoration or foreclosure will
increase the proceeds of liquidation of the Mortgage Loan to Certificateholders
after reimbursement to itself for such expenses and (ii) that such expenses will
be recoverable to it either through Liquidation Proceeds or Insurance Proceeds.
Notwithstanding the foregoing, the Company shall not be entitled to recover
legal expenses incurred in connection with foreclosure proceedings where the
Mortgage Loan is reinstated and such foreclosure proceedings are terminated
prior to completion, other than sums received from the Mortgagor for such
expenses.
Notwithstanding anything to the contrary contained herein, the Company
shall be under no obligation to foreclose upon or otherwise convert the
ownership of any Mortgaged Property which it believes may be contaminated with
or affected by hazardous or toxic wastes, materials or substances. The Company
may, but shall not be obligated to, make such determination on the basis of a
Phase I environmental assessment with respect to the related Mortgaged Property.
Neither the Trustee nor the Company shall be liable to the Trust Fund or the
Certificateholders if, based on the Company's belief that such contamination or
effect exists, the Company does not foreclose upon or otherwise convert the
ownership of a Mortgaged Property. In addition, neither the Trustee nor the
Company shall be liable to the Trust Fund or the Certificateholders if, based on
the Company's belief that no such contamination or effect exists, the Company
forecloses upon a Mortgaged Property and the Trustee or its nominee on behalf of
the Trust Fund takes title to such Mortgaged Property, and thereafter such
Mortgaged Property is determined to be so contaminated or affected.
(b) In the event that title to any Mortgaged Property is acquired in
foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale
shall be issued to the Trustee, or to its nominee on behalf of the Trust Fund.
Notwithstanding any such acquisition of title and cancellation of the related
Mortgage Loan, such Mortgage Loan shall (except for purposes of Section 9.01) be
considered to be an Outstanding Mortgage Loan until such time as the Mortgaged
Property shall be sold and such Mortgage Loan becomes a Liquidated Mortgage
Loan. Consistent with the foregoing, for purposes of all calculations hereunder
so long as such Mortgage Loan shall be considered to be an Outstanding Mortgage
Loan, it shall be assumed that the related Mortgage Note and its amortization
schedule in effect on and after such acquisition of title (after giving effect
to any previous Principal Prepayments and Deficient Valuations incurred
subsequent to the related Bankruptcy Coverage Termination Date and before any
adjustment thereto by reason of any bankruptcy (other than as aforesaid) or any
similar proceeding or any moratorium or similar waiver or grace period) remain
in effect (notwithstanding that the indebtedness evidenced by such Mortgage Note
shall have been discharged), subject to adjustment to reflect the application of
REO Proceeds received in any month. REO Proceeds received in any month shall be
applied to the payment of the installments of principal due and interest accrued
on the related REO Mortgage Loan in accordance with the terms of such Mortgage
Note. REO Proceeds received in any month in excess of the Amortization Payment
for such month due on any REO Mortgage Loan shall be treated as a Principal
Prepayment received in respect of such Mortgage Loan.
(c) In the event that the Trust Fund acquires any Mortgaged Property as
aforesaid or otherwise in connection with a default or imminent default on a
Mortgage Loan, the Company shall dispose of such Mortgaged Property prior to the
close of the third calendar year after the year of its acquisition by the Trust
Fund unless (a) the Trustee shall have been supplied with an Opinion of Counsel
to the effect that the holding by the Trust Fund of such Mortgaged Property
subsequent to such period (and specifying the period beyond such period for
which the Mortgaged Property may be held) will not result in the imposition of
taxes on "prohibited transactions" of the Trust Fund as defined in section 860F
of the Code, or cause the REMIC established hereunder to fail to qualify as a
REMIC at any time that any Certificates are outstanding, in which case the Trust
Fund may continue to hold such Mortgaged Property (subject to any conditions
contained in such Opinion of Counsel), or (b) the Trustee (at the Company's
expense) or the Company shall have applied for, not later than 61 days prior to
the expiration of such period, an extension of such period in the manner
contemplated by section 856(e)(3) of the Code, in which case such period shall
be extended by the time period permitted by section 856(e)(3) of the Code.
Notwithstanding any other provision of this Agreement, no Mortgaged Property
acquired by the Trust Fund shall be rented (or allowed to continue to be rented)
or otherwise used for the production of income by or on behalf of the Trust Fund
or sold in such a manner or pursuant to any terms that would (i) cause such
Mortgaged Property to fail to qualify at any time as "foreclosure property"
within the meaning of section 860G(a)(8) of the Code, (ii) subject the Trust
Fund to the imposition of any federal or state income taxes on "net income from
foreclosure property" with respect to such Mortgaged Property within the meaning
of section 860G(c) of the Code, or (iii) cause the sale of such Mortgaged
Property to result in the receipt by the Trust Fund of any income from
non-permitted assets as described in section 860F(a)(2)(B) of the Code, unless
the Company has agreed to indemnify and hold harmless the Trust Fund with
respect to the imposition of any such taxes.
(d) Any collection of Insurance Proceeds or Liquidation Proceeds will be
applied in the following order of priority: first, to reimburse the Company for
any related unreimbursed Liquidation Expenses and to reimburse the Company or
the Trustee, as applicable, for any related unreimbursed Monthly Advances;
second, to accrued and unpaid interest on the Mortgage Loan at the Mortgage Rate
from the date to which interest was last paid or advanced to the Due Date prior
to the Distribution Date on which such amounts are to be distributed; and third,
as a recovery of principal of the Mortgage Loan. If the amount so allocated to
interest is less than the full amount of accrued and unpaid interest due on such
Mortgage Loan, the amount of such recovery will be allocated between the
Servicing Fee and interest at the Net Mortgage Rate in proportion to the amount
of such accrued interest which would have been allocated to each such category
in the absence of any shortfall.
(e) Notwithstanding anything to the contrary contained herein, the Company
shall have the right to enter into an agreement substantially in the form of
Exhibit K hereto with any Person that is the Holder of 100% of the Class B5
Certificates (provided that such form may be revised to delete the option on the
part of such Person to purchase a defaulted Mortgage Loan as set forth in
Section 2.02(f) thereof). Prior to entering into any such agreement with any
Person, the Company shall obtain a certification from such Person to the effect
that (i) such Person is not an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of the Trustee and (ii) such Person will not purchase any
Certificates if such purchase would cause such Person to hold more than a ten
percent interest in the Mortgage Pool. It is understood that the right of the
Company to be reimbursed for Monthly Advances and Nonrecoverable Advances under
this Agreement shall not be affected in any way by the provisions of any such
agreement. The Trustee hereby agrees to perform such obligations as may be
expressly required of it pursuant to the provisions of such agreement and to
promptly notify each party to such agreement if a Responsible Officer of the
Trustee (with direct responsibility for administration of this Agreement)
becomes aware of any discussions, plans or events that might lead to the
Trustee's becoming an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of any Person with which the Company has entered into
such agreement, provided that the contents of any such notification shall be
kept confidential by the parties to such agreement. The Company agrees to
promptly notify the Trustee upon entering into any such agreement. In addition,
the Company shall provide the Trustee with such information as may be necessary
for the Trustee to perform its obligations thereunder, including written
instructions, clearly identifying the source, amount and application of funds to
be deposited or withdrawn from the Collateral Fund (as defined in such
agreement). The Trustee shall provide the Company with such information
concerning credits and debits to the Collateral Fund on account of income, gains
and losses realized from Collateral Fund Permitted Investments (as defined in
such agreement), and costs associated with the purchase and sale thereof, as the
Company may request in order to prepare the instructions described in the
preceding sentence.
In addition, subject to the provisions of the preceding paragraph, the
Company shall have the right to enter into an agreement substantially in the
form of Exhibit K hereto with the Person that is the Holder of 100% of the Class
B4 Certificates, provided that (i) such Person is also the Holder of 100% of the
Class B5 Certificates, (ii) such Person shall have no rights under such
agreement until the date on which the Class Certificate Principal Balance of the
Class B5 Certificates has been reduced to zero, and (iii) any rights of such
Person under such agreement shall terminate in the event that such Person
transfers, directly or indirectly, the Class B4 Certificates to any other
Person.
Section 3.09. Trustee to Cooperate; Release of Mortgage Files. Upon the
payment in full of any Mortgage Loan, the Company will immediately notify the
Trustee by a certification (which certification shall include a statement to the
effect that all amounts received in connection with such payment which are
required to be credited to the Mortgage Loan Payment Record pursuant to Section
3.02 have been so credited) of a Servicing Officer and shall request delivery to
it of the Mortgage File. If a Buydown Mortgage Loan is the subject of a
Principal Prepayment in full during the related Buydown Period, the related
Buydown Funds will be applied or returned to the Person entitled thereto in
accordance with the terms of such Buydown Mortgage Loan. Upon receipt of such
certification and request in form satisfactory to the Trustee, the Trustee shall
promptly, but in any event within five Business Days, release the related
Mortgage File to the Company; provided, that the Trustee shall not be
responsible for any delay in the release of a Mortgage File resulting from acts
beyond its control, including without limitation, acts of God, strikes,
lockouts, riots, acts of war or terrorism, epidemics, nationalization,
governmental regulations imposed after the fact, fire, communication line
failures, computer viruses, power failures, earthquakes or other disasters. Upon
any such payment in full, the Company is authorized to execute, pursuant to the
authorization contained in Section 3.01, an instrument of satisfaction regarding
such Mortgage, which instrument of satisfaction shall be recorded by the Company
if required by applicable law and be delivered to the Person entitled thereto,
it being understood and agreed that no expenses incurred in connection with such
instrument of satisfaction shall be reimbursed from amounts at the time credited
to the Mortgage Loan Payment Record. From time to time and as appropriate for
the servicing or foreclosure of any Mortgage Loan (including, without
limitation, collection under any Primary Insurance Policy), the Trustee shall,
upon request of the Company and delivery to the Trustee of a receipt signed by a
Servicing Officer, release the related Mortgage File to the Company and shall
execute such documents as shall be necessary to the prosecution of any such
proceedings. Such receipt shall obligate the Company to return the Mortgage File
to the Trustee when the need therefor by the Company no longer exists unless the
Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate
of a Servicing Officer similar to that hereinabove specified, the receipt shall
be released by the Trustee to the Company.
Section 3.10. Servicing Compensation; Payment of Certain Expenses by the
Company. (a) As compensation for its activities and obligations hereunder, the
Company shall be entitled to withhold and pay to itself out of each payment
received by it on account of interest on each Mortgage Loan (including the
portion of any Buydown Funds applied to the related Buydown Mortgage Loan for
the applicable period) an amount equal to the Servicing Fee. The aggregate of
the Servicing Fees payable to the Company on any Distribution Date shall be
reduced by the amount of any Compensating Interest Payment for such Distribution
Date. Additional servicing compensation in the form of Prepayment Interest
Excess, assumption fees, modification fees, late payment charges, interest
income or gain with respect to amounts deposited in the Certificate Account and
invested by the Company or otherwise shall be retained by the Company, subject
to Section 3.10(b), if applicable. The Company shall be required to pay all
expenses incurred by it in connection with its activities hereunder (including
payment of Trustee fees and all other fees and expenses not expressly stated
hereunder to be for the account of the Certificateholders) and shall not be
entitled to reimbursement therefor except as provided in Sections 3.01, 3.03,
3.04 and 3.08.
(b) The Company may, as a condition to granting any request by a Mortgagor
for any consent, modification, waiver or amendment or any other matter or thing,
the granting of which is in the Company's discretion pursuant to the terms of
the instruments evidencing or securing the related Mortgage Loan and is
permitted by other sections of this Agreement, require (to the extent permitted
by applicable law) that such Mortgagor pay to it a reasonable or customary fee
in accordance with the schedule set forth as Exhibit H (which may be amended
from time to time by provision of a revised schedule of such fees to the
Trustee, whereupon such revised schedule shall be deemed to be Exhibit H
hereunder) for the additional services performed in connection with such
request, together with any related costs and expenses incurred by it. Such fees
shall be additional servicing compensation to the Company.
Section 3.11. Reports to the Trustee. Not later than 15 days after each
Distribution Date, the Company shall forward to the Trustee a statement,
certified by a Servicing Officer, setting forth the status of the Mortgage Loan
Payment Record as of the close of business on such Distribution Date and
showing, for the period covered by such statement, the aggregate of credits to
the Mortgage Loan Payment Record for each category of credit specified in
Section 3.02 and each category of debit specified in Section 3.04.
Section 3.12. Annual Statement as to Compliance. The Company will deliver
to the Trustee, on or before March 31 of each year, beginning with March 31,
2000, an Officer's Certificate stating that (a) a review of the activities of
the Company during the preceding calendar year and of its performance under this
Agreement has been made under such Officer's supervision and (b) to the best of
such Officer's knowledge, based on such review, the Company has fulfilled all
its material obligations under this Agreement throughout such year, or, if there
has been a default in the fulfillment of any such obligation, specifying each
such default known to such Officer and the nature and status thereof.
Section 3.13. Annual Independent Public Accountants' Servicing Report. On
or before March 31 of each year, beginning with March 31, 2000, the Company
shall:
(a) furnish to a firm of independent public accountants (which may also
render other services to the Company) a statement substantially to the effect
that the Company has complied in all material respects with the minimum
servicing standards set forth in the Uniform Single Attestation Program for
Mortgage Bankers (the "Minimum Servicing Standards") with respect to the
mortgage loans in the Company's servicing portfolio (which may exclude home
equity loans) or, if there has been material noncompliance with such servicing
standards, containing a description of such noncompliance; and
(b) at its expense cause such firm of independent public accountants to
furnish a report to the Trustee stating its opinion as to the Company's
assertion contained in the statement delivered pursuant to Section 3.13(a),
which opinion shall be based on an examination conducted by such firm in
accordance with the standards established by the American Institute of Certified
Public Accountants, including examining, on a test basis, evidence about the
Company's compliance with the Minimum Servicing Standards. Such opinion shall be
to the effect that the Company has complied in all material respects with the
Minimum Servicing Standards with respect to the mortgage loan portfolio
described in the Company's statement delivered pursuant to Section 3.13(a)
hereof or if there has been material noncompliance with the Minimum Servicing
Standards, shall contain a description of such noncompliance in accordance with
applicable accounting standards. In rendering such report, such firm may rely,
as to matters relating to direct servicing of Mortgage Loans by any primary
servicer, upon comparable reports of independent public accountants with respect
to such primary servicer.
Section 3.14. Access to Certain Documentation and Information Regarding the
Mortgage Loans. To the extent permitted by applicable law, the Company shall
provide to the Trustee, Certificateholders which are regulated insurance
entities and the applicable insurance regulatory agencies thereof,
Certificateholders which are federally insured savings and loan associations,
the Office of Thrift Supervision, the FDIC and the supervisory agents and
examiners thereof access to the documentation regarding the Mortgage Loans
required by applicable regulations of the Office of Thrift Supervision or of
such insurance regulatory agencies, as the case may be, such access being
afforded without charge but only upon reasonable request and during normal
business hours at the offices of the Company. Nothing in this Section 3.14 shall
derogate from the obligation of the Company to observe any applicable law
prohibiting disclosure of information regarding the Mortgagors and the failure
of the Company to provide access as provided in this Section 3.14 as a result of
such obligation shall not constitute a breach of this Section 3.14.
Section 3.15. Maintenance of Certain Servicing Policies. The Company shall
during the term of its service as servicer maintain in force (i) a policy or
policies of insurance covering errors and omissions in the performance of its
obligations as servicer hereunder and (ii) a fidelity bond in respect of its
officers, employees or agents. Each such policy or policies and bond shall,
together, comply with the requirements from time to time of FNMA for persons
performing servicing for mortgage loans purchased by such association.
Section 3.16. Optional Purchase of Defaulted Mortgage Loans. The Company
shall have the right, but not the obligation, to purchase any Defaulted Mortgage
Loan for a price equal to the Purchase Price therefor. Any such purchase shall
be accomplished as provided in Section 4.04(a) hereof.
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions. (a) On each Distribution Date, the Trustee
shall withdraw the Available Funds from the Certificate Account and shall make
distributions to Holders of the Certificates as of the preceding Record Date in
the following order of priority, to the extent of the remaining Available Funds:
(i) to each Class of Senior Certificates (other than any Class of
Principal Only Certificates) and the Class S Certificates, the Accrued
Certificate Interest thereon for such Distribution Date; provided, however,
that any Accrued Certificate Interest on the Class A5 Certificates for such
Distribution Date shall be applied in the manner provided in Section
4.01(g); and provided, further, that any shortfall in available amounts
shall be allocated among such Classes in proportion to the amount of
Accrued Certificate Interest that would otherwise be distributable thereto;
(ii) to each Class of Senior Certificates (other than any Class of
Principal Only Certificates) and the Class S Certificates, any related
Unpaid Class Interest Shortfall for such Distribution Date; provided,
however, that any Unpaid Class Interest Shortfall on the Class A5
Certificates for such Distribution Date shall be applied in the manner
provided in Section 4.01(g); and provided, further, that any shortfall in
available amounts shall be allocated among such Classes in proportion to
the Unpaid Class Interest Shortfall for each such Class on such
Distribution Date;
(iii) to the Classes of Senior Certificates in reduction of the Class
Certificate Principal Balances thereof, as set forth in the Senior
Principal Priorities hereto; provided, however, that defined terms used in
the Senior Principal Priorities shall have the meanings assigned thereto in
Article I hereof, without regard to the use of the word "approximately"
therein;
(iv) to the Class PO Certificates, any Class PO Deferred Amount for
such Distribution Date, up to an amount not to exceed the Junior Optimal
Principal Amount for such Distribution Date, until the Class Certificate
Principal Balance of such Class has been reduced to zero; provided, that
any such amounts distributed to the Class PO Certificates pursuant to this
clause (iv) shall not reduce the Class Certificate Principal Balance
thereof;
(v) to the Class M Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(vi) to the Class M Certificates, any Unpaid Class Interest Shortfall
therefor on such Distribution Date;
(vii) to the Class M Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date;
(viii) to the Class B1 Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(ix) to the Class B1 Certificates, any Unpaid Class Interest Shortfall
therefor on such Distribution Date;
(x) to the Class B1 Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date;
(xi) to the Class B2 Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(xii) to the Class B2 Certificates, any Unpaid Class Interest
Shortfall therefor on such Distribution Date;
(xiii) to the Class B2 Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date;
(xiv) to the Class B3 Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(xv) to the Class B3 Certificates, any Unpaid Class Interest Shortfall
therefor on such Distribution Date;
(xvi) to the Class B3 Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date;
(xvii) to the Class B4 Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(xviii) to the Class B4 Certificates, any Unpaid Class Interest
Shortfall therefor on such Distribution Date;
(xix) to the Class B4 Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date;
(xx) to the Class B5 Certificates, the Accrued Certificate Interest
thereon for such Distribution Date;
(xxi) to the Class B5 Certificates, any Unpaid Class Interest
Shortfall therefor on such Distribution Date; and
(xxii) to the Class B5 Certificates, in reduction of the Class
Certificate Principal Balance thereof, such Class's Allocable Share of the
Junior Optimal Principal Amount on such Distribution Date.
Notwithstanding the foregoing, amounts otherwise distributable pursuant to
clauses (vii), (x), (xiii), (xvi), (xix) and (xxii) on any Distribution Date
shall be reduced, in inverse order of priority, by any amount distributed
pursuant to clause (iv) on such date, such that such amount distributed pursuant
to clause (iv) on such date shall be applied first to reduce the amount
distributable pursuant to clause (xxii), and then, to the extent of any excess,
applied second, to reduce the amount distributable pursuant to clause (xix),
third, to reduce the amount distributable pursuant to clause (xvi), fourth, to
reduce the amount distributable pursuant to clause (xiii), fifth, to reduce the
amount distributable pursuant to clause (x) and sixth, to reduce the amount
distributable pursuant to clause (vii).
(b) On each Distribution Date, the Trustee shall distribute to the holder
of the Class R Certificate any remaining Available Funds for such Distribution
Date after application of all amounts described in clause (a) of this Section
4.01, together with any Unanticipated Recoveries received by the Company in the
calendar month preceding the month of such Distribution Date and not distributed
on such Distribution Date to the holders of outstanding Certificates of any
other Class pursuant to Section 4.01(f), plus any amounts distributable to the
holder of the Class R Certificate pursuant to Sections 4.01(e). Any
distributions pursuant to this clause (b) shall not reduce the Class Certificate
Principal Balance of the Class R Certificate.
(c) If on any Distribution Date the Class Certificate Principal Balances of
the Junior Certificates have each been reduced to zero, the amount distributable
to the Senior Certificates other than the Class PO Certificates pursuant to
Section 4.01(a)(iii) for such Distribution Date and each succeeding Distribution
Date shall be allocated among such Classes of Senior Certificates, pro rata, on
the basis of their respective Class Certificate Principal Balances immediately
prior to such Distribution Date, regardless of the priorities and amounts set
forth in Section 4.01(a)(iii).
(d) If on any Distribution Date (i) the Class Certificate Principal Balance
of the Class M Certificates or any Class of Class B Certificates for which the
related Prepayment Distribution Trigger was satisfied on such Distribution Date
is reduced to zero and (ii) amounts distributable pursuant to clauses (ii), (iv)
and (v) of the Junior Optimal Principal Amount remain undistributed on such
Distribution Date after all amounts otherwise distributable on such date
pursuant to clauses (iv) through (xxii) of Section 4.01(a) have been
distributed, such amounts shall be distributed on such Distribution Date to the
remaining Classes of Junior Certificates in order of priority, such that no such
distribution shall be made to any Class of Junior Certificates while a prior
such Class is outstanding.
(e) (i) On each Distribution Date prior to the Cross-Over Date,
distributions in reduction of the Class Certificate Principal Balances of any
Designated Retail Certificates will be made in accordance with the provisions of
Section 4.10.
With respect to any Class of Designated Retail Certificates, upon the
earlier of the Cross-Over Date and the next Distribution Date after the
Distribution Date on which the Class Certificate Principal Balance of such Class
of Designated Retail Certificates has been reduced to zero, (x) to the extent
the balance of funds remaining in the related Rounding Account is less than
$999.99, the balance in such Rounding Account shall be restored to $999.99 (or,
if less, the sum of such remaining balance and the amount so distributable) from
Available Funds otherwise available for distribution on all outstanding Classes
of Certificates and (y) such Rounding Account shall be cleared and terminated,
and the amounts therein shall be distributed to the Class R Certificates on such
date (which distribution shall not reduce the Class Certificate Principal
Balance thereof).
(ii) As provided in Section 4.10(f), notwithstanding any provisions
herein to the contrary, on the Cross-Over Date and on each subsequent
Distribution Date, distributions in reduction of the Class Certificate
Principal Balances of any Class of Designated Retail Certificates shall be
made on a pro rata basis among the outstanding Certificates of the
respective Class, based on the Percentage Interest in each such Class
represented by each Certificate. The Trustee shall notify the Depository
prior to the first Distribution Date on which distributions in respect of
principal on any Class of Designated Retail Certificates are to be made on
a pro rata basis in accordance with the preceding sentence. On the
Cross-Over Date and on each subsequent Distribution Date, the Trustee shall
not, and the Depository is not authorized to, make distributions or
payments in respect of any Class of Designated Retail Certificates in
accordance with any Principal Distribution Request or by Random Lot.
(f) In the event that in any calendar month the Company recovers an amount
(an "Unanticipated Recovery") in respect of principal of a Mortgage Loan which
had previously been allocated as a Realized Loss to any Class of Certificates
pursuant to Section 4.03, on the Distribution Date in the next succeeding
calendar month the Trustee shall withdraw from the Certificate Account and
distribute to the holders of each outstanding Class to which such Realized Loss
had previously been allocated its share (determined as described in the
succeeding paragraph) of such Unanticipated Recovery in an amount not to exceed
the amount of such Realized Loss previously allocated to such Class. When the
Class Certificate Principal Balance of a Class of Certificates has been reduced
to zero, the holders of such Class shall not be entitled to any share of an
Unanticipated Recovery, and such Unanticipated Recovery shall be allocated among
all outstanding Classes of Certificates entitled thereto in accordance with the
preceding sentence, subject to the remainder of this subsection (f). In the
event that (i) any Unanticipated Recovery remains undistributed in accordance
with the preceding sentence or (ii) the amount of an Unanticipated Recovery
exceeds the amount of the Realized Loss previously allocated to any outstanding
Classes with respect to the related Mortgage Loan, on the applicable
Distribution Date the Trustee shall distribute to the holders of all outstanding
Classes of the related Certificates to which Realized Losses had previously been
allocated and not reimbursed their pro rata share (determined as described
below) of such excess in an amount not to exceed the aggregate amount of any
Realized Loss previously allocated to such Class with respect to any other
Mortgage Loan that has not been recovered in accordance with this subsection
(f). Any distributions made pursuant to this subsection (f) shall not reduce the
Class Certificate Principal Balance of the related Certificate.
For purposes of the preceding paragraph, the share of an Unanticipated
Recovery allocable to any Class of Certificates with respect to a Mortgage Loan
shall be (i) with respect to the Class PO Certificates, based on the applicable
PO Percentage of the principal portion of the Realized Loss previously allocated
thereto with respect to such Mortgage Loan (or all Mortgage Loans for purposes
of the next to last sentence of the preceding paragraph), and (ii) with respect
to any other Class of Certificates, based on its pro rata share (in proportion
to the Class Certificate Principal Balances thereof with respect to such
Distribution Date) of the applicable Non-PO Percentage of the principal portion
of any such Realized Loss previously allocated with respect to such Mortgage
Loan (or Loans); provided, however, that (i) the share of an Unanticipated
Recovery allocable to a Class PO Certificate with respect to any Mortgage Loan
(or Loans) shall be reduced by the aggregate amount previously distributed to
such Class on account of the applicable Class PO Deferred Amount in respect of
such Mortgage Loan (or Loans) and (ii) the amount by which the distributions to
the Class PO Certificates have been so reduced shall be distributed to the
Classes of Certificates described in clause (ii) of the preceding paragraph in
the same proportion as described in such clause (ii). For purposes of the
preceding sentence, any Class PO Deferred Amount distributed to a Class PO
Certificate on previous Distribution Dates shall be deemed to have been
allocated in respect of the Mortgage Loans as to which the applicable PO
Percentage of the principal portion of Realized Losses has previously been
allocated to such Class on a pro rata basis (based on the amount of Realized
Losses so allocated).
(g) On each Distribution Date through the Accretion Termination Date,
amounts allocable to the Class A5 Certificates pursuant to clauses (a)(i) and
(a)(ii) of this Section 4.01 shall not be distributable to the Class A5
Certificates pursuant to such clauses but shall instead be (i) added to the
Class Certificate Principal Balance thereof to the extent of the Accrual Amount
for such Class for such Distribution Date, and (ii) distributed to the following
Classes of Certificates, in reduction of the Class Certificate Principal
Balances thereof, before any distributions are made pursuant to Section
4.01(a)(iii), in the following order of priority:
first, to the Class A4 and Class A6 Certificates, until the Class
Certificate Principal Balance of the Class A4 Certificates thereof has been
reduced to zero, concurrently, as follows:
(1) 88.7552773133% of the amount distributable under priority
first to the Class A4 Certificates; and
(2) 11.2447226867% of the amount distributable under priority
first to the Class A6 Certificates; and
second, to the Class A5 Certificates.
On each Distribution Date occurring after the related Accretion Termination
Date, amounts allocable to the Class A5 Certificates pursuant to clauses (a)(i)
and (a)(ii) of this Section 4.01 shall be distributable on such Distribution
Date pursuant to such clauses to Holders of the Class A5 Certificates as Accrued
Certificate Interest or Unpaid Class Interest Shortfall, as the case may be.
Section 4.02. Method of Distribution. (a) Except as set forth in Section
4.10 in respect of any Designated Retail Certificates, all distributions with
respect to each Class of Certificates on each Distribution Date shall be made
pro rata among the outstanding Certificates of such Class, based on the
Percentage Interest in such Class represented by each Certificate. Payments to
the Certificateholders on each Distribution Date will be made by the Trustee to
the Certificateholders of record on the related Record Date (other than as
provided in Section 9.01 respecting the final distribution) by check or money
order mailed to a Certificateholder at the address appearing in the Certificate
Register, or upon written request by such Certificateholder to the Trustee made
not later than the applicable Record Date, by wire transfer to a U.S. depository
institution acceptable to the Trustee, or by such other means of payment as such
Certificateholder and the Trustee shall agree.
(b) Each distribution with respect to a Book-Entry Certificate shall be
paid to the Depository, which shall credit the amount of such distribution to
the accounts of its Depository Participants in accordance with its normal
procedures. Each Depository Participant shall be responsible for disbursing such
distribution to the Certificate Owners that it represents and to each Financial
Intermediary for which it acts as agent. Each Financial Intermediary shall be
responsible for disbursing funds to the Certificate Owners that it represents.
Except as otherwise provided in Section 4.10(g), the Depository shall be
responsible for the allocation of the aggregate amount of distributions in
reduction of the Class Certificate Principal Balances of any Class of Designated
Retail Certificates among the Depository Participants in accordance with Section
4.10, and each Depository Participant (and each respective Financial
Intermediary for which such Depository Participant acts as agent) shall be
responsible for the allocation of the amount allocated thereto among the related
Certificate Owners. All such credits and disbursements with respect to a
Book-Entry Certificate are to be made by the Depository and the Depository
Participants in accordance with the provisions of the applicable Certificates.
Neither the Trustee nor the Company shall have any responsibility therefor
except as otherwise provided by applicable law.
(c) The Trustee shall withhold or cause to be withheld such amounts as it
reasonably determines are required by the Code (giving full effect to any
exemptions from withholding and related certifications required to be furnished
by Certificateholders or Certificate Owners and any reductions to withholding by
virtue of any bilateral tax treaties and any applicable certification required
to be furnished by Certificateholders or Certificate Owners with respect
thereto) from distributions to be made to Non-U.S. Persons. If the Trustee
reasonably determines that a more accurate determination of the amount required
to be withheld for a distribution can be made within a reasonable period after
the scheduled date for such distribution, it may hold such distribution in trust
for a holder of a Residual Certificate until such determination can be made. For
the purposes of this paragraph, a "Non-U.S. Person" is (i) an individual other
than a citizen or resident of the United States, (ii) a partnership, corporation
or entity treated as a partnership or corporation for U.S. federal income tax
purposes not formed under the laws of the United States, any state thereof or
the District of Columbia (unless, in the case of a partnership, Treasury
regulations provide otherwise), (iii) any estate, the income of which is not
subject to U.S. federal income taxation, regardless of source, and (iv) any
trust, other than a trust that a court within the United States is able to
exercise primary supervision over the administration of the trust and one or
more U.S. Persons have the authority to control all substantial decisions of the
trust.
Section 4.03. Allocation of Losses. (a) On or prior to each Determination
Date, the Company shall determine the amount of any Realized Loss in respect of
each Mortgage Loan that occurred during the immediately preceding calendar
month.
(b) With respect to any Distribution Date, the principal portion of each
Realized Loss (other than any Excess Loss) shall be allocated as follows:
(i) the applicable PO Percentage of the principal portion of any such
Realized Loss shall be allocated to the Class PO Certificates until the
Class Certificate Principal Balance thereof has been reduced to zero; and
(ii) the applicable Non-PO Percentage of the principal portion of any
such Realized Loss shall be allocated in the following order of priority:
first, to the Class B5 Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero;
second, to the Class B4 Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero;
third, to the Class B3 Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero;
fourth, to the Class B2 Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero;
fifth, to the Class B1 Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero;
sixth, to the Class M Certificates until the Class Certificate
Principal Balance thereof has been reduced to zero; and
seventh, to the Classes of Senior Certificates other than the
Class PO Certificates, pro rata, in accordance with their Class
Certificate Principal Balances; provided, that any such loss allocated
to any Class of Accrual Certificates (and any Accrual Component) shall
be allocated (subject to Section 4.03(d)) on the basis of the lesser
of (x) the Class Certificate Principal Balance (or Component Principal
Balance) thereof immediately prior to the applicable Distribution Date
and (y) the Class Certificate Principal Balance (or Component
Principal Balance) thereof on the Closing Date (as reduced by any
Realized Losses previously allocated thereto).
(c) With respect to any Distribution Date, the principal portion of any
Excess Loss (other than Excess Bankruptcy Losses attributable to Debt Service
Reductions) shall be allocated as follows: (1) the PO Percentage of any such
loss shall be allocated to the Class PO Certificates, and (2) the Non-PO
Percentage of any such loss shall be allocated to each Class of Certificates
other than the Class PO Certificates, pro rata, based on the respective Class
Certificate Principal Balances thereof; provided, that any such loss allocated
to any Class of Accrual Certificates (and any Accrual Component) shall be
allocated (subject to Section 4.03(d)) on the basis of the lesser of (x) the
Class Certificate Principal Balance (or Component Principal Balance) thereof
immediately prior to the applicable Distribution Date and (y) the Class
Certificate Principal Balance (or Component Principal Balance) thereof on the
Closing Date (as reduced by any Realized Losses previously allocated thereto).
(d) Any Realized Losses allocated to a Class of Certificates pursuant to
Section 4.03(b) or (c) shall be allocated among the Certificates of such Class
in proportion to their respective Certificate Principal Balances. In addition,
any Realized Losses allocated to any Class of Component Certificates on a
Distribution Date shall be allocated in reduction of the Component Principal
Balances of the related Components (other than any Notional Component) in
proportion to their respective Component Principal Balances immediately prior to
such Distribution Date. Any allocation of Realized Losses pursuant to this
paragraph (d) shall be accomplished by reducing the Certificate Principal
Balance (or, in the case of any Component, the Component Principal Balance) of
the related Certificates (or Components) on the related Distribution Date in
accordance with Section 4.03(e).
(e) Realized Losses allocated in accordance with this Section 4.03 shall be
allocated on the Distribution Date in the month following the month in which
such loss was incurred and, in the case of the principal portion thereof, after
giving effect to distributions made on such Distribution Date, except that the
aggregate amount of Realized Losses to be allocated to the Class PO Certificates
on such Distribution Date will be taken into account in determining
distributions in respect of any Class PO Deferred Amount for such date.
(f) On each Distribution Date, the Company shall determine the Subordinate
Certificate Writedown Amount, if any. Any such Subordinate Certificate Writedown
Amount shall effect, without duplication of any other provision in this Section
4.03 that provides for a reduction in the Certificate Principal Balance of the
Subordinate Certificates, a corresponding reduction in the Certificate Principal
Balance of the Subordinate Certificates, which reduction shall occur on such
Distribution Date after giving effect to distributions made on such Distribution
Date.
(g) Notwithstanding the foregoing, no such allocation of any Realized Loss
shall be made on a Distribution Date to a Class of Certificates to the extent
that such allocation would result in the reduction of the aggregate Certificate
Principal Balances of all the Certificates as of such Distribution Date, after
giving effect to all distributions and prior allocations of Realized Losses on
such date, to an amount less than the aggregate Scheduled Principal Balance of
the Mortgage Loans as of the first day of the month of such Distribution Date,
less any Deficient Valuations occurring on or prior to the Bankruptcy Coverage
Termination Date (such limitation, the "Loss Allocation Limitation").
Section 4.04. Monthly Advances; Purchases of Defaulted Mortgage Loans. (a)
The Company shall be required to make Monthly Advances in the manner and to the
extent provided herein. Prior to the close of business on each Determination
Date, the Company shall determine (i) the amount of the Monthly Advance which it
is required to make on the related Distribution Date and (ii) whether it has
elected to purchase any Defaulted Mortgage Loan or Loans on such Distribution
Date. If the Company so elects to purchase any Defaulted Mortgage Loans (or is
required to purchase any Mortgage Loan pursuant to Section 2.02 or 2.03(a)), no
Monthly Advance shall be required with respect thereto for the month in which
such purchase occurs. The Company shall include information as to each of such
determinations in the Servicer's Certificate furnished by it to the Trustee in
accordance with Section 4.06 and shall be obligated to transfer to the
Certificate Account pursuant to Section 3.02(d) on or before 11:00 a.m. New York
time on the Business Day next preceding the following Distribution Date in
next-day funds the respective amounts applicable to such determinations
appearing in such Servicer's Certificate. Upon receipt by the Trustee of written
notification signed by a Servicing Officer of any such deposit relating to the
purchase by the Company of such a Mortgage Loan, the Trustee shall release to
the Company the related Mortgage 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 Company any Mortgage Loan released pursuant hereto.
(b) In the event that the Company transfers or expects to transfer less
than the Available Funds required to be deposited by it pursuant to Section
3.02(d), the Company shall so notify the Trustee no later than 9:00 a.m. on the
Business Day preceding the related Distribution Date, and the amount so
transferred, if any, shall be deemed to have been transferred first pursuant to
clause (i) of the definition of Available Funds, second pursuant to clause (iii)
of the definition of Available Funds, and third pursuant to clause (ii) of the
definition of Available Funds. Such notice shall specify each Mortgage Loan
delinquent as of the preceding Determination Date. In such event, the Trustee
shall make any Monthly Advance required to be made hereunder, in the manner and
to the extent required; provided, the Trustee shall not be so obligated if
prohibited by applicable law.
(c) In the event that the Company is succeeded hereunder as servicer, the
obligation to make Monthly Advances in the manner and to the extent required by
Section 4.04(a) shall be assumed by the successor servicer (subject to Section
7.02).
Section 4.05. Statements to Certificateholders. Each month, at least two
Business Days prior to each Distribution Date, the Company shall deliver to the
Trustee a statement (each, a "Distribution Date Statement") substantially in the
form of Exhibit J hereto. On the first two Distribution Dates immediately
following the Closing Date, the Trustee shall mail to each Certificateholder the
related Distribution Date Statement. Beginning on the second (or on any
succeeding) Distribution Date immediately following the Closing Date, the
Trustee may provide a notice that future Distribution Date Statements shall be
made available on the Trustee's website maintained on the internet; such notice
shall (a) specify the Trustee's website address, and (b) provide for any
Certificateholder to request any future Distribution Date Statement(s) to be
mailed to such requesting Certificateholder. If on the third (or on any
succeeding) Distribution Date immediately following the Closing Date the Trustee
elects to make available such Distribution Date Statements on the Trustee's
website maintained on the internet, on each Distribution Date the Trustee shall
(y) make such Distribution Date Statements available on the Trustee's website,
and (z) mail the applicable Distribution Date Statement to any such
Certificateholder who so requests or has previously so requested. In addition,
the Trustee shall promptly notify the Certificateholders of any changes in the
internet address of the Trustee's website. If on any Distribution Date the
Trustee is unable to make or otherwise determines not to make the applicable
Distribution Date Statement available on the Trustee's website, then the Trustee
shall mail such Distribution Date Statement to each Certificateholder on such
Distribution Date. Each Distribution Date Statement shall set forth:
(i) The amount of such distribution to the Certificateholders of
each Class (and in respect of any Component), other than any Notional
Certificates (and any Notional Component), allocable to principal,
separately identifying the aggregate amount of any Principal
Prepayments included therein (including, for this purpose, the
Scheduled Principal Balances of all Defaulted Mortgage Loans and
Defective Mortgage Loans purchased pursuant to Section 2.02, 2.03(b)
or 3.16, respectively, and any amounts deposited pursuant to Section
2.03(b) in connection with the substitution of any Mortgage Loans
pursuant to Section 2.02 or 2.03(a), the proceeds of which purchases
or substitutions are being distributed on such Distribution Date);
(ii) The amount of such distribution to the Certificateholders of
each Class (other than any Class of Principal Only Certificates)
allocable to interest, including any Accrual Amount added to the Class
Certificate Principal Balance or Component Principal Balance of any
Class of Accrual Certificates or any Accrual Components;
(iii) The amount of servicing compensation paid to the Company
during the month preceding the month of distribution in respect of the
Mortgage Loans and such other customary information as the Company
deems necessary or desirable to enable Certificateholders to prepare
their tax returns;
(iv) The Pool Scheduled Principal Balance and the aggregate
number of the Mortgage Loans on the preceding Due Date after giving
effect to all distributions allocable to principal made on such
Distribution Date;
(v) The Class Certificate Principal Balance (or Notional
Principal Balance) of each Class, the Component Principal Balance of
each Component and the Certificate Principal Balance (or Notional
Principal Balance) of a Single Certificate of each Class after giving
effect to (i) all distributions allocable to principal (or reductions
in the Notional Principal Balance, in the case of the Notional
Certificates, or the addition of any Accrual Amount, in the case of
any Class of Accrual Certificates) made on such Distribution Date and
(ii) the allocation of any Realized Losses and any Subordinate
Certificate Writedown Amount for such Distribution Date;
(vi) The Pay-out Rate applicable to each Class of Certificates;
(vii) The book value and unpaid principal balance of any real
estate acquired on behalf of Certificateholders through foreclosure,
or grant of a deed in lieu of foreclosure or otherwise, of any REO
Mortgage Loan, and the number of the related Mortgage Loans;
(viii) The aggregate Scheduled Principal Balances and number of
Mortgage Loans which, as of the close of business on the last day of
the month preceding the related Distribution Date, were (a) delinquent
as to a total of (x) 30-59 days, (y) 60-89 days and (z) 90 days or
more, and (b) in foreclosure;
(ix) The Scheduled Principal Balance of any Mortgage Loan
replaced pursuant to Section 2.03(b);
(x) The Certificate Interest Rates of any LIBOR Certificates, any
COFI Certificates and the Class S Certificates applicable to the
Interest Accrual Period relating to such Distribution Date and such
Class;
(xi) The Senior Percentage, the Class A3 Percentage, the Class A3
Scheduled Distribution Percentage and the Junior Percentage for such
Distribution Date;
(xii) The Senior Prepayment Percentage, the Class A3 Prepayment
Distribution Percentage and the Junior Prepayment Percentage for such
Distribution Date; and
(xiii) The amount of such distribution to the Certificateholders
of each Class allocable to Unanticipated Recoveries.
In the case of information furnished pursuant to clauses (i) through (iii)
above, the amounts shall be expressed as a dollar amount per Single Certificate.
In connection with any proposed transfer of a Certificate that is purported
to be made in reliance on Rule 144A under the Securities Act, the Company shall
be responsible for furnishing such information as may be required thereunder to
a proposed transferee. In furtherance of the Company's obligations hereunder,
the Company hereby instructs the Trustee, at the Company's expense and on its
behalf, and the Trustee agrees, to promptly make available to the proposed
transferee, upon request of the holder, (i) all statements furnished or made
available to Certificateholders pursuant to this Section 4.05 on previous
Distribution Dates, (ii) all certificates furnished to the Trustee pursuant to
Section 4.06 in prior months, (iii) Officer's Certificates furnished to the
Trustee pursuant to Section 3.12 for the two years preceding such request, (iv)
reports of independent accountants furnished to the Trustee pursuant to Section
3.13 for the two years preceding such request, (v) a copy of the Private
Placement Memorandum relating to such Certificate, together with any amendments
or supplements thereto issued by the Company, which may be accompanied by a
legend to the effect that the information contained in the Private Placement
Memorandum and any amendment or supplement thereto is current only as of its
date and the delivery thereof does not create an implication that such
information is correct as of any subsequent date of delivery (it being
understood that the Company has no obligation hereunder to update or supplement
the Private Placement Memorandum unless otherwise required pursuant to Rule
144A(d)(4)) (which copy and legend shall be furnished to the Trustee by the
Company), and (vi) the Company's Current Report on Form 8-K, dated the Closing
Date, relating to the Mortgage Loans; provided, however, that the Trustee shall
in no event be required to make available such statements or certificates
pursuant to clauses (i) and (ii) above relating to Distribution Dates occurring
more than twenty-four months preceding the month in which such request was
received; provided, further, however, that notwithstanding the Trustee's
agreement as aforesaid to provide such materials to a proposed transferee, the
Trustee does not assume, and shall not thereby be deemed to have assumed, any
responsibility for compliance by the Company with Rule 144A (subject to the
Trustee's agreement set forth in the second sentence of this paragraph) and
shall be entitled to include a notice with such statements or certificates to
the effect that such materials have not been prepared or assembled by the
Trustee and that the Trustee assumes no responsibility for the adequacy,
sufficiency or contents thereof. In connection with any such proposed transfer,
the Company shall make available to the proposed holder, at the request of the
related transferor, such additional information, if any, as may be required to
be delivered pursuant to Rule 144A(d)(4).
Section 4.06. Servicer's Certificate. Each month, not later than the second
Business Day next preceding each Distribution Date, the Company shall deliver to
the Trustee a completed Servicer's Certificate.
Section 4.07. Reports of Foreclosures and Abandonments of Mortgaged
Property. The Trustee (or the Company on behalf of the Trustee) shall, in each
year beginning after 1999, make the reports of foreclosures and abandonments of
any Mortgaged Property as required by section 6050J of the Code. In order to
facilitate this reporting process, the Company, on or before January 15th of
each year, shall provide to the Trustee reports relating to each instance
occurring during the previous calendar year in which the Company (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, or (ii) knows or has reason to know that a Mortgaged Property has been
abandoned. Reports from the Company shall be in form and substance sufficient to
meet the reporting requirements imposed by section 6050J of the Code.
Section 4.08. Reduction of Servicing Fees by Compensating Interest
Payments. The aggregate amount of the Servicing Fees subject to retention by the
Company as servicer in respect of any Distribution Date shall be reduced by the
amount of any Compensating Interest Payment for such Distribution Date.
Section 4.09. Surety Bond. (a) If a Required Surety Payment is payable
pursuant to the Surety Bond with respect to any Pledged Asset Mortgage Loan, the
Company shall so notify the Trustee as soon as reasonably practicable and shall,
on behalf of the Trustee for the benefit of the Certificateholders, promptly
complete the notice in the form of Attachment 1 to the Surety Bond and shall
promptly submit such notice to the Surety as a claim for a Required Surety
Payment.
(b) Upon receipt of a Required Surety Payment from the Surety on behalf of
the Certificateholders, the Company shall promptly credit such amount to the
Mortgage Loan Payment Record.
Section 4.10. Distributions to Holders of Designated Retail Certificates.
(a) Except as provided in subsections (d) and (f) below, on each Distribution
Date on which distributions in reduction of the Class Certificate Principal
Balance of a Class of Designated Retail Certificates are made, such
distributions will be made in the following order of priority:
(i) first, in respect of any Principal Distribution Request by the
personal representative of a Deceased Holder of such Class of Certificates,
a surviving tenant by the entirety, a surviving joint tenant, a surviving
tenant in common or such other Person empowered to act on behalf of such
Deceased Holder upon his or her death, in an amount up to but not exceeding
$100,000 per request; and
(ii) second, in respect of any Principal Distribution Request by a
Living Holder of such Class of Certificates, in an amount up to but not
exceeding $10,000 per request.
Thereafter, distributions in respect of such Class submitted on behalf of
each Deceased Holder will be made as provided in clause (i) above up to a second
$100,000 per request and distributions in respect of such Class submitted on
behalf of each Living Holder will be made as provided in clause (ii) above up to
a second $10,000 per request. This sequence of priorities will be repeated until
all such requests have been honored to the extent of amounts available for
distribution in reduction of the Class Certificate Principal Balance of such
Class of Designated Retail Certificates.
Principal Distribution Requests presented on behalf of Deceased Holders in
accordance with the provisions of clause (i) above will be accepted in the order
of their receipt by the Depository. Principal Distribution Requests presented in
accordance with the provisions of clause (ii) above will be accepted in the
order of their receipt by the Depository after all requests presented in
accordance with clause (i) have been honored. All Principal Distribution
Requests with respect to any Distribution Date shall be made in accordance with
Section 4.10(c) below and must be received by the Depository no later than the
close of business on the related Record Date. Principal Distribution Requests
that are received by the Depository after the related Record Date and requests,
in either case, for distributions timely received but not accepted with respect
to any Distribution Date, will be treated as Principal Distribution Requests on
the next succeeding Distribution Date, and each succeeding Distribution Date
thereafter, until each such request is accepted or is withdrawn as provided in
Section 4.10(c). Requests on behalf of Deceased Holders that are not so
withdrawn shall retain their order of priority, all in accordance with the
procedures of the Depository and the Trustee. Upon the transfer of beneficial
ownership of any Designated Retail Certificate, any Principal Distribution
Request previously submitted with respect to such Certificate will be deemed to
have been withdrawn only upon the receipt by the Trustee of notification of such
withdrawal using a form required by the Depository.
Principal Distribution Requests for a Class of Designated Retail
Certificates will be applied, in the aggregate, in an amount equal to the
portion of the Available Funds distributable to such Class of Certificates
pursuant to Section 4.01(a), plus any amounts available for distribution from
the related Rounding Account pursuant to Section 4.10(e), provided that the
aggregate distribution in reduction of the Class Certificate Principal Balance
of any Class of Designated Retail Certificates on any Distribution Date shall be
made in an integral multiple of $1,000, subject to Section 4.10(f).
(b) A "Deceased Holder" is a beneficial owner of a Designated Retail
Certificate who was living at the time such interest was acquired and whose
authorized personal representative, surviving tenant by the entirety, surviving
joint tenant or surviving tenant in common or other Person empowered to act on
behalf of such beneficial owner upon his or her death, causes to be furnished to
the Trustee a certified copy of the death certificate of such Deceased Holder,
evidence of such person's status as an authorized representative of the Deceased
Holder, such as surviving tenant (whether by the entirety, joint tenancy or
tenancy in common), which evidence shall be satisfactory to the Trustee, and any
additional evidence of death required by and satisfactory to the Trustee and any
tax waivers requested by the Trustee. Designated Retail Certificates
beneficially owned by tenants by the entirety, joint tenants or tenants in
common will be considered to be beneficially owned by a single owner. The death
of a tenant by the entirety, joint tenant or tenant in common will be deemed to
be the death of the beneficial owner, and any Designated Retail Certificates so
beneficially owned will be eligible for priority with respect to distributions
in reduction of the Class Certificate Principal Balance of such Class of
Certificates, subject to the limitations contained in this Section 4.10.
Designated Retail Certificates beneficially owned by a trust will be considered
to be beneficially owned by each beneficiary of the trust to the extent of such
beneficiary's beneficial interest therein, but in no event will a trust's
beneficiaries collectively be deemed to be beneficial owners of a number of
individual Designated Retail Certificates greater than the number of individual
Designated Retail Certificates of which such trust is the beneficial owner. The
death of a beneficiary of a trust will be deemed to be the death of a beneficial
owner of the Designated Retail Certificates beneficially owned by the trust to
the extent of such beneficiary's beneficial interest in such trust. The death of
an individual who was a tenant by the entirety, joint tenant or tenant in common
in a tenancy that is the beneficiary of a trust will be deemed to be the death
of the beneficiary of the trust. The death of a person who, immediately prior to
his or her death, was entitled to substantially all of the beneficial ownership
interest in a Designated Retail Certificate will be deemed to be the death of
the beneficial owner of such Certificate regardless of the registration of
ownership of such Certificate, if such beneficial ownership interest can be
established to the satisfaction of the Trustee. The Trustee's decision regarding
whether a Deceased Holder's beneficial interest is substantial for purposes of
the preceding sentence shall be conclusive and binding. Such beneficial interest
will be deemed to exist in typical cases of street name or nominee ownership,
ownership by a trustee, ownership under the Uniform Gifts to Minors Act and
community property or other joint ownership arrangements between a husband and
wife. Beneficial interests shall include the power to sell, transfer or
otherwise dispose of a Designated Retail Certificate, and the right to receive
the proceeds therefrom, as well as interest and distributions in reduction of
the Certificate Principal Balance of such Certificates payable with respect
thereto. The Trustee shall not be under any duty to determine independently the
occurrence of the death of any beneficial owner. The Trustee may rely entirely
upon documentation delivered to it in establishing the eligibility of any
beneficial owner to receive the priority accorded Deceased Holders in Section
4.10(a). Expenses incurred by the Trustee in an effort to determine the
beneficial ownership interest with respect to any Principal Distribution Request
presented on behalf of a Deceased Holder, including, without limitation,
attorneys fees, shall be paid by the Person presenting such Principal
Distribution Request.
(c) Requests for distributions in reduction of the Certificate Principal
Balance of a Class of Designated Retail Certificate must be made by delivering a
Principal Distribution Request therefor to the Depository Participant or
Financial Intermediary that maintains the account evidencing the beneficial
owner's interest in such Certificate. Such Depository Participant or Financial
Intermediary should in turn make the request of the Depository (or, in the case
of an Financial Intermediary, such Financial Intermediary should notify the
related Depository Participant of such request, which Depository Participant
should make the request of the Depository) on a form required by the Depository
and provided to the Depository Participant. In the case of a request on behalf
of a Deceased Holder, a certified copy of the death certificate and any
additional appropriate evidence of death and any tax waivers must be forwarded
to the Trustee under separate cover. Any such requests of Deceased Holders that
are incomplete may not be honored by the Trustee and, if not honored, will lose
their priority and must be resubmitted in proper form. Upon receipt of such
Principal Distribution Request, the Depository will date and time stamp such
request and forward such request to the Trustee. Such requests will be honored
on any Distribution Date only to the extent that they are received by the
Depository on or before the Record Date for such Distribution Date. The
Depository may establish such procedures as it deems fair and equitable to
establish the order of receipt of requests for such distributions received by it
on the same day. Principal Distribution Requests delivered to the Depository
after the Record Date for a particular Distribution Date and requests received
in a timely manner but not accepted with respect to a particular Distribution
Date will be treated as Principal Distribution Requests for the next succeeding
Distribution Date and each succeeding Distribution Date thereafter until each
request is accepted or is withdrawn as provided below. In the case of Principal
Distribution Requests on behalf of Living Holders, the Depository will establish
a new order of priority for each Distribution Date. This order will apply both
to previously unsatisfied Principal Distribution Requests and to newly submitted
requests. A Principal Distribution Request submitted on behalf of a Living
Holder who later dies will become entitled to the priority of a newly submitted
request on behalf of a Deceased Holder upon satisfaction of the requirements set
forth above for requests of a Deceased Holder. Such priority will be effective
for each subsequent Distribution Date if the Trustee has received a certified
copy of the death certificate for such Deceased Holder and any additional
appropriate evidence of death and any requested tax waivers by the last business
day of the preceding calendar month. Each Principal Distribution Request
submitted by a beneficial owner of a Designated Retail Certificate will be held
by the Depository until such request has been accepted or has been withdrawn in
writing as provided herein. Neither the Trustee nor the Company shall be liable
for any delay in delivery of Principal Distribution Requests or Withdrawals (as
defined below) of such requests by the Depository, a Depository Participant or
any Financial Intermediary.
In the event that any Principal Distribution Requests are rejected by the
Trustee for failure to comply with the requirements of this Section 4.10, the
Trustee shall return such requests to the appropriate Depository Participant
with a copy to the Depository with an explanation as to the reason for such
rejection.
The Trustee shall maintain a list of those Depository Participants
representing the Certificate Owners of Designated Retail Certificates that have
submitted Principal Distribution Requests, together with the order of receipt
and the amounts of such requests. The Trustee shall notify the Depository and
the appropriate Depository Participants as to which requests should be honored
on each Distribution Date. Requests shall be honored by the Depository in
accordance with the procedures, and subject to the priorities and limitations,
described in this Section 4.10. The exact procedures to be followed by the
Trustee and the Depository for purposes of determining such priorities and
limitations shall be those established from time to time by the Trustee or the
Depository, as the case may be. The decisions of the Trustee and the Depository
concerning such matters shall be final and binding on all affected Persons.
Any beneficial owner of a Designated Retail Certificate that has made a
Principal Distribution Request may withdraw its request by so notifying in
writing the Depository Participant or Financial Intermediary that maintains such
beneficial owner's account (each such withdrawal, a "Withdrawal"). The
Depository Participant should forward the Withdrawal to the Depository on a form
required by the Depository. In the event that such account is maintained by a
Financial Intermediary, such Financial Intermediary should notify the related
Depository Participant which in turn should forward the Withdrawal of such
request, on a form required by the Depository, to the Depository. If such
Withdrawal has not been received by the Depository and forwarded to the Trustee
on or before the Record Date for the next Distribution Date, the previously made
Principal Distribution Request will be irrevocable with respect to the making of
distributions in reduction of the Certificate Principal Balance of such
Designated Retail Certificate on such Distribution Date.
(d) To the extent, if any, that amounts available for distribution in
reduction of the Class Certificate Principal Balance of a Class of Designated
Retail Certificates on a Distribution Date pursuant to Section 4.01(a) exceed
the dollar amount of Principal Distribution Requests that have been received in
respect of such Class by the related Record Date, as provided in Section 4.10(c)
above, distributions in reduction of the Class Certificate Principal Balance of
such Class of Certificates will be made by mandatory distributions on a Random
Lot basis, in integral multiples equal to $1,000, in reduction thereof without
regard to whether such Certificate Owners have submitted Principal Distribution
Requests. The Trustee shall notify the Depository of the aggregate amount of the
mandatory distribution by Random Lot in reduction of the Class Certificate
Principal Balance of such Designated Retail Certificates to be made on the next
Distribution Date. The Depository shall then allocate such aggregate amount
among its Depository Participants on a Random Lot basis. Each Depository
Participant and, in turn, each Financial Intermediary, will then select, in
accordance with its own procedures, Designated Retail Certificates of such Class
from among those held in its accounts to receive mandatory distributions in
reduction of the Class Certificate Principal Balance of such Certificates, such
that the total amount so selected is equal to the aggregate amount of such
mandatory distributions allocated to such Depository Participant by the
Depository and to such Financial Intermediary by its related Depository
Participant, as the case may be. Depository Participants and Financial
Intermediaries that hold a Class of Designated Retail Certificates selected for
mandatory distributions in reduction of the Class Certificate Principal Balance
thereof should provide notice of such mandatory distributions to the affected
Certificate Owners.
(e) On the Closing Date, a separate Rounding Account shall be established
with the Trustee for each Class of Designated Retail Certificates and the
Rounding Account Depositor for such Rounding Account shall cause to be initially
deposited the sum of $999.99 in each such Rounding Account. On each Distribution
Date on which a distribution is to be made in reduction of the Class Certificate
Principal Balance of a Class of Designated Retail Certificates pursuant to
Section 4.01(a), funds on deposit in the related Rounding Account shall be, to
the extent needed, withdrawn by the Trustee and applied to round upward to an
integral multiple of $1,000 the aggregate distribution in reduction of the Class
Certificate Principal Balance to be made on such Class of Certificates. Rounding
of such distribution on such Class of Designated Retail Certificates shall be
accomplished, on the first such Distribution Date, by withdrawing from the
related Rounding Account the amount of funds, if any, needed to round the amount
otherwise available for such distribution in reduction of the Class Certificate
Principal Balance of such Certificates upward to the next integral multiple of
$1,000. On each succeeding Distribution Date on which distributions in reduction
of the Class Certificate Principal Balance of such Class of Designated Retail
Certificates are to be made pursuant to Section 4.01(a), the aggregate amount of
such distributions allocable to such Certificates shall be applied first to
repay any funds withdrawn from the related Rounding Account and not previously
repaid, and then the remainder of such allocable amount, if any, shall be
similarly rounded upward to the next integral multiple of $1,000 and applied as
distributions in reduction of the Class Certificate Principal Balance of the
related Class of Certificates; this process shall continue on succeeding
principal Distribution Dates prior to the Cross-Over Date until the Class
Certificate Principal Balance of each such Class of Certificates has been
reduced to zero. Each Rounding Account shall be maintained as a non-interest
bearing account; the Rounding Accounts shall not be an asset of the Trust Fund,
but shall be an asset in the REMIC. On the earlier of (1) the Cross-Over Date
and (2) the first Distribution Date after the Class Certificate Principal
Balance of any Class of Designated Retail Certificates has been reduced to zero,
any remaining amounts in the related Rounding Account shall be distributed to
the Class R Certificate.
(f) Notwithstanding any provisions herein to the contrary, on each
Distribution Date coinciding with or after the Cross-Over Date, all
distributions in reduction of the Class Certificate Principal Balance of any
Class of Designated Retail Certificates will be made among the Holders and
Certificate Owners of such Class of Certificates, pro rata, based on their
Certificate Principal Balances, and will not be made in integral multiples of
$1,000 or pursuant to requested distributions or mandatory distributions by
Random Lot.
(g) In the event that Definitive Certificates representing any Class of
Designated Retail Certificates are issued pursuant to Section 5.02(f), all
requests for distributions or withdrawals of such requests relating to such
Class must be submitted to the Trustee, and the Trustee shall perform the
functions described in Section 4.10(a) through (d) using its own procedures,
which procedures shall, to the extent practicable, be consistent with the
procedures described in Section 4.10(a) through (d).
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. (a) The Certificates shall be substantially
in the forms set forth in Exhibit A hereto, as applicable, and shall, on
original issue, be executed by the Trustee, not in its individual capacity but
solely as Trustee, and countersigned and delivered by the Trustee to or upon the
order of the Company as provided in Article II.
(b) The Certificates shall be issued in an aggregate Initial Certificate
Principal Balance of $351,446,953.44. Such aggregate original principal balance
shall be divided among the Classes having the designations, Class Certificate
Principal Balances, Certificate Interest Rates and minimum denominations as
follows:
Initial Class
Certificate Certificate
Principal Interest Minimum
Designation Balance Rate Denominations
- ----------- ------- ---- -------------
Class A1 $25,000,000.00 7.00% $25,000
Class A2 14,591,000.00 7.00% 1,000
Class A3 33,502,466.00 7.00% 25,000
Class A4 24,260,774.00 7.00% 25,000
Class A5 35,107,542.00 7.00% 1,000
Class A6 15,029,684.00 7.00% 25,000
Class A7 5,000,000.00 7.25% 1,000
Class A8 178,571.00 0.00% 25,000
Class A9 5,107,000.00 7.00% 1,000
Class A10 28,009,360.00 7.00% 1,000
Class A11 20,500,000.00 7.00% 1,000
Class A12 127,210,748.00 7.00% 25,000
Class PO 3,891,829.67 0.00% (1)
Class M 6,677,000.00 7.00% 100,000
Class B1 2,636,000.00 7.00% 100,000
Class B2 1,406,000.00 7.00% 100,000
Class B3 1,757,000.00 7.00% 500,000
Class B4 702,000.00 7.00% (1)
Class B5 879,878.77 7.00% (1)
Class S (2) (2) (3)
Class R 100.00 7.00% 100
- -------------------
(1) This Class of Certificates will be issued as a single Certificate
evidencing the entire Class Certificate Principal Balance of such Class.
(2) The Class S Certificates are issued with an initial Notional Principal
Balance of $237,461,299.67 and shall bear interest at the Strip Rate.
(3) The Class S Certificates will be issued in minimum denominations of
Notional Principal Balance of $25,000,000.
(c) The Certificates shall be issuable in registered form only. The
Book-Entry Certificates will be evidenced by one or more certificates,
beneficial ownership of which will be held in the minimum dollar denominations
in Certificate Principal Balance or Notional Principal Balance, as applicable,
specified in Section 5.01(b), and integral multiples of $1,000 in excess
thereof. The Non-Book-Entry Certificates other than the Residual Certificate
shall each be issued in the minimum dollar denominations in Certificate
Principal Balance or Notional Principal Balance, as applicable, specified in
Section 5.01(b), and integral multiples of $1,000 in excess thereof (and, if
necessary, in the amount of the remaining Class Certificate Principal Balance or
Notional Principal Balance, as applicable, of each Class, in the case of one
Certificate of such Class). The Residual Certificate shall be issued as a single
certificate evidencing the entire Class Certificate Principal Balance of such
Class and having a Percentage Interest of 100%. If necessary, one Certificate of
each Class of Book-Entry Certificates may evidence an additional amount equal to
the remainder of the Class Certificate Principal Balance of such Class.
(d) The Certificates shall be executed by manual or facsimile signature on
behalf of the Trustee by an authorized officer under its seal, which may be in
facsimile form and be imprinted or otherwise reproduced thereon. Certificates
bearing the manual or facsimile signatures of individuals who were, at the time
when such signatures were affixed, authorized to sign on behalf of the Trustee
shall bind the Trustee, notwithstanding that such individuals or any of them
have ceased to be so authorized prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such Certificate. No
Certificate shall be entitled to any benefit under this Agreement, or be valid
for any purpose, unless such Certificate shall have been manually countersigned
by the Trustee substantially in the forms set forth in Exhibit A hereto, and
such countersignature upon any Certificate shall be conclusive evidence, and the
only evidence, that such Certificate has been duly executed and delivered
hereunder. All Certificates issued on the Closing Date shall be dated the
Closing Date; all Certificates issued thereafter shall be dated the date of
their countersignature.
(e) The Strip Rate for each Interest Accrual Period shall be determined by
the Company and included in the Servicer's Certificate for the related
Distribution Date.
Section 5.02. Registration of Transfer and Exchange of Certificates. (a)
The Trustee shall cause to be kept at an office or agency in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
New York 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 initially serve as Certificate Registrar for the purpose of
registering Certificates and transfers and exchanges of Certificates as herein
provided.
Subject to Sections 5.02(b) and 5.02(c), upon surrender for registration of
transfer of any Certificate at the Corporate Trust Office, the Trustee shall
execute, authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Certificates of the same Class in authorized
denominations of a like Percentage Interest.
At the option of a Certificateholder, Certificates may be exchanged for
other Certificates of authorized denominations of a like Class and Percentage
Interest, 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, countersign and deliver the Certificates which the
Certificateholder making the exchange is entitled to receive. Every Certificate
presented or surrendered for registration of transfer or exchange shall be
accompanied by a written instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by the Holder thereof or his
attorney duly authorized in writing.
No service charge shall be made for any registration of transfer or
exchange of Certificates, but the Trustee 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 registration of transfer and exchange
shall be canceled and subsequently destroyed by the Trustee and a certificate of
destruction shall be delivered by the Trustee to the Company.
(b) No legal or beneficial interest in all or any portion of the Residual
Certificates may be transferred directly or indirectly to (i) a Disqualified
Organization or an agent of a Disqualified Organization (including a broker,
nominee, or middleman), (ii) an entity that holds REMIC residual securities as
nominee to facilitate the clearance and settlement of such securities through
electronic book-entry changes in accounts of participating organizations (a
"Book-Entry Nominee"), or (iii) an individual, corporation, partnership or other
person unless such transferee (A) is not a Non-U.S. Person or (B) is a Non-U.S.
Person that holds a Residual 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 (C) 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 a Residual Certificate to it is in accordance with the requirements of the
Code and the regulations promulgated thereunder and that such transfer of a
Residual Certificate will not be disregarded for federal income tax purposes
(any such person who is not covered by clause (A), (B) or (C) 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 and deliver, a Residual Certificate in connection with
any transfer thereof unless the transferor shall have provided to the Trustee an
affidavit, substantially in the form attached as Exhibit F 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, a Book-Entry Nominee 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 Residual Certificates to Disqualified
Organizations, Book-Entry Nominees or Non-permitted Foreign Holders, and an
agreement by the Transferee that it will not transfer a Residual Certificate
without providing to the Trustee an affidavit substantially in the form attached
as Exhibit F hereto and a letter substantially in the form attached as Exhibit G
hereto. Such affidavit shall also contain the statement of the transferee that
(i) it does not have the intention to impede the assessment or collection of any
federal, state or local taxes legally required to be paid with respect to the
Residual Certificates and (ii) it understands that it may incur tax liabilities
in excess of cash flows generated by a Residual Certificate and that it intends
to pay taxes associated with holding a Residual Certificate as they become due.
The affidavit described in the preceding paragraph, if not executed in
connection with the initial issuance of the Residual Certificates, shall be
accompanied by a written statement in the form attached as Exhibit G hereto,
signed by the transferor, to the effect that as of the time of the transfer, the
transferor has (i) no actual knowledge that the transferee is a Disqualified
Organization, Book-Entry Nominee or Non-permitted Foreign Holder, (ii) no reason
to believe that the transferee has the intention to impede the assessment or
collection of any federal, state or local taxes legally required to be paid with
respect to a Residual Certificate, and (iii) conducted a reasonable
investigation and found that the transferee had historically paid its debts as
they came due and found no significant evidence to indicate that the transferee
will not continue to pay its debts as they become due. The Residual Certificates
shall bear a legend referring to the foregoing restrictions contained in this
paragraph and the preceding paragraph.
Upon notice to the Company that any legal or beneficial interest in any
portion of the Residual Certificates 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 Residual 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 Residual
Certificate as completely as if such transfer had never occurred, provided that
the Company may, but is not required to, recover any distributions made to such
transferee with respect to the Residual Certificate and return such recovery to
the transferor, and (ii) the Company agrees to furnish to the Internal Revenue
Service and to any transferor of the Residual Certificate or such agent (within
60 days of the request therefor by the transferor or agent) such information
necessary to the application of section 860E(e) of the Code 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 Residual Certificate (or
portion thereof) for periods after such transfer. At the election of the
Company, the cost to the Company of computing and furnishing such information
may be charged to the transferor or such agent referred to above; however, the
Company shall in no event be excused from furnishing such information.
The restrictions on transfers of the Residual Certificates set forth in the
preceding three paragraphs shall cease to apply to transfers (and the applicable
portions of the legend to the Residual Certificates may be deleted) after
delivery to the Trustee of an Opinion of Counsel to the effect that the
elimination of such restrictions will not cause the REMIC established hereunder
to fail to qualify as a REMIC at any time that the Certificates are outstanding.
No transfer of a Restricted Certificate shall be made unless such transfer
is made pursuant to an effective registration statement under the Securities Act
of 1933, as amended (the "Act"), and any applicable state securities laws, in
each case as evidenced by an Officer's Certificate, or is exempt from the
registration requirements of the Act and any applicable state securities laws.
In the event of such registration, any restrictive legends set forth in the form
of the relevant Restricted Certificate in Exhibit A hereto with respect to the
Act and state securities law restrictions shall be removed by the Trustee upon
request of the Holder thereof and automatically upon exchange or registration of
transfer thereof. As a condition to any transfer that is to be made in reliance
upon an exemption from the Act and such laws of a (i) Class PO or Class S
Certificate or (ii) Restricted Junior Certificate to any person other than a QIB
(as certified by the proposed transferee in the form of assignment attached to
the related Certificate), either (x) the Trustee shall require the transferee to
execute an investment letter in the form substantially as set forth in Exhibit I
hereto or in such other form as may be acceptable to the Trustee, certifying as
to the facts surrounding such transfer, or (y) in lieu of such investment
letter, the Trustee may accept a written Opinion of Counsel (in form and
substance acceptable to the Trustee) that such proposed transfer may be made
pursuant to an exemption from the Act. As an additional condition to any
transfer of a Restricted Certificate, either (i) the transferor and the
transferee shall complete the form of assignment attached to the Certificate
proposed to be transferred, or (ii) the Trustee shall have received the
above-referenced Opinion of Counsel. The holder of any Restricted Certificate
desiring to effect the transfer thereof to a person other than a QIB shall, and
hereby agrees to, comply with any applicable conditions set forth in the
preceding two sentences and indemnify the Trustee and the Company against any
liability that may result if the transfer thereof is not so exempt or is not
made in accordance with such federal and state laws. Such agreement to so
indemnify the Trustee and the Company shall survive the termination of this
Agreement. Notwithstanding the foregoing, no Opinion of Counsel or investment
letter shall be required upon the original issuance of (i) the Restricted Junior
Certificates to the Initial Purchaser (as defined in the Private Placement
Memorandum) or its nominee and (ii) the Class PO or Class S Certificates to the
Company or upon any subsequent transfer of any Class PO or Class S Certificate
by the Company, provided that if any Restricted Junior Certificates are, at the
request of the Initial Purchaser, registered in the name of its nominee, the
Initial Purchaser shall be deemed to acknowledge and agree with the Company and
the Trustee that no transfer of a beneficial interest in such Certificates will
be made without registering such Certificates in the name of the transferee,
which shall be a Person other than such nominee. Any opinion or letter required
pursuant to this paragraph shall not be at the expense of the Trust Fund or the
Trustee.
(c) (i) No transfer of an ERISA-Restricted Certificate in the form of a
Definitive Certificate shall be made to any Person unless the Trustee has
received (A) a certificate (substantially in the form of Exhibit E or such other
form as is acceptable to the Company and the Trustee) from such transferee to
the effect that such transferee (i) is not a Plan or a Person that is using the
assets of a Plan to acquire such ERISA-Restricted Certificate or (ii) is an
insurance company investing assets of its general account and the exemptions
provided by Section III(a) of Department of Labor Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the transferee's acquisition and holding of any ERISA-Restricted Certificate or
(B) an opinion of counsel satisfactory to the Trustee and the Company to the
effect that the purchase and holding of such a Certificate will not constitute
or result in the assets of the Trust Fund being deemed to be "plan assets"
subject to the prohibited transactions provisions of ERISA or Section 4975 of
the Code and will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however, that the
Trustee will not require such certificate or opinion in the event that, as a
result of a change of law or otherwise, counsel satisfactory to the Trustee has
rendered an opinion to the effect that the purchase and holding of an
ERISA-Restricted Certificate by a Plan or a Person that is purchasing or holding
such a Certificate with the assets of a Plan will not constitute or result in a
prohibited transaction under ERISA or Section 4975 of the Code. The preparation
and delivery of the certificate and opinions referred to above shall not be an
expense of the Trust Fund, the Trustee or the Company. Notwithstanding the
foregoing, no opinion or certificate shall be required for the initial issuance
of the ERISA-Restricted Certificates.
(ii) No transfer of a Residual Certificate shall be made to any Person
unless the Trustee has received a certification (substantially in the form
of paragraph 4 of Exhibit F) from such transferee to the effect that, among
other things, such transferee is not a Plan or a Person that is using the
assets of a Plan to acquire any such Certificate. The preparation and
delivery of such certificate shall not be an expense of the Trust Fund, the
Trustee or the Company.
(d) Subject to Section 8.01(i) hereof, the Trustee may conclusively rely
upon any certificate, affidavit or opinion delivered pursuant to Section 5.02(b)
or (c). Any certificate or affidavit required to be delivered by a transferee
under this Section 5.02 may be executed and delivered in the name of such
transferee by its attorney-in-fact duly authorized in writing in form and
substance satisfactory to the Trustee.
(e) Except as to any additional Certificate of any Class of Book-Entry
Certificates held in physical certificated form pursuant to Section 5.02(g) or
any Restricted Junior Certificate of any Class of Book-Entry Certificates that
is transferred to an entity other than a QIB, the Book-Entry Certificates shall,
subject to Section 5.02(f), at all times remain registered in the name of the
Depository or its nominee and at all times: (i) registration thereof may not be
transferred by the Trustee except to another Depository; (ii) the Depository
shall maintain book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Certificates; (iii) ownership
and transfers of registration of the Certificates issued in book-entry form on
the books of the Depository shall be governed by applicable rules established by
the Depository and the rights of Certificate Owners with respect to Book-Entry
Certificates shall be governed by applicable law and agreements between such
Certificate Owners and the Depository, Depository Participants, and indirect
participating firms; (iv) the Depository may collect its usual and customary
fees, charges and expenses from its Depository Participants; (v) the Trustee
shall deal with the Depository, Depository Participants and indirect
participating firms as authorized representatives of the Certificate Owners of
the Certificates issued in book-entry form for all purposes including the making
of payments due on the Book-Entry Certificates and exercising the rights of
Holders under this Agreement, and requests and directions for and votes of such
representatives shall not be deemed to be inconsistent if they are made with
respect to different Certificate Owners; (vi) the Trustee may rely and shall be
fully protected in relying upon information furnished by the Depository with
respect to its Depository Participants and furnished by the Depository
Participants with respect to indirect participating firms and persons shown on
the books of such indirect participating firms as direct or indirect Certificate
Owners; (vii) Certificate Owners shall not be entitled to certificates for the
Book-Entry Certificates and (viii) the Trustee may establish a reasonable record
date in connection with solicitations of consents from or voting by
Certificateholders and give notice to the Depository of such record date.
All transfers by Certificate Owners of Book-Entry Certificates shall be
made in accordance with the procedures established by the Depository Participant
or brokerage firm representing such Certificate Owner. Each Depository
Participant shall only transfer Book-Entry Certificates of Certificate Owners it
represents or of brokerage firms for which it acts as agent in accordance with
the Depository's normal procedures. Except as provided herein, the Trustee shall
have no duty to monitor or restrict the transfer of Certificates or interests
therein, and shall have no liability for any transfer, including any transfer
made through the book-entry facilities of the Depository or between or among
Depository Participants or Certificate Owners, made in violation of applicable
restrictions set forth herein, except in the event of the failure of the Trustee
to perform its duties and fulfill its obligations under this Agreement.
(f) If (x)(i) the Company or the Depository advises the Trustee in writing
that the Depository is no longer willing, qualified or able to properly
discharge its responsibilities as Depository, and (ii) the Trustee or the
Company is unable to locate a qualified successor, (y) the Company at its option
advises the Trustee in writing that it elects to terminate the book-entry system
through the Depository or (z) after the occurrence of an Event of Default,
Certificate Owners representing not less than 51% of the aggregate Voting Rights
allocated to the Book-Entry Certificates together advise the Trustee and the
Depository through the Depository Participants in writing that the continuation
of a book-entry system through the Depository is no longer in the best interests
of the Certificate Owners, the Trustee shall notify all Certificate Owners,
through the Depository, of the occurrence of any such event and of the
availability of Definitive Certificates to Certificate Owners requesting the
same. Upon surrender to the Trustee of such Certificates by the Depository,
accompanied by registration instructions from the Depository for registration,
the Trustee shall issue the Definitive Certificates. Neither the Company nor the
Trustee shall be liable for any delay in delivery of such instructions and may
conclusively rely on, and shall be protected in relying on, such instructions.
Upon the issuance of Definitive Certificates all references herein to
obligations imposed upon or to be performed by the Depository shall be deemed to
be imposed upon and performed by the Trustee, to the extent applicable with
respect to such Definitive Certificates and the Trustee shall recognize the
Holders of the Definitive Certificates as Certificateholders hereunder.
(g) On or prior to the Closing Date, there shall be delivered to the
Depository (or to State Street Bank and Trust Company acting as custodian for
the Depository pursuant to the Depository's procedures) one certificate for each
Class of Book-Entry Certificates registered in the name of the Depository's
nominee, Cede & Co. The face amount of each such Certificate shall represent
100% of the initial Class Certificate Principal Balance thereof, except for such
amount that does not constitute an acceptable denomination to the Depository. An
additional Certificate of each Class of Book-Entry Certificates may be issued
evidencing such remainder and, if so issued, will be held in physical
certificated form by the Holders thereof. Each Certificate issued in book-entry
form shall bear the following legend:
"Unless this Certificate is presented by an authorized representative of
The Depository Trust Company, a New York corporation ("DTC"), to Issuer or its
agent for registration of transfer, exchange, or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein."
Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any
mutilated Certificate is surrendered to the Certificate Registrar, or the
Certificate Registrar receives evidence to its satisfaction of the destruction,
loss or theft of any Certificate and (b) there is delivered to the Company, the
Certificate Registrar and the Trustee such security or indemnity as may be
required by them to save each of them harmless, then, in the absence of notice
to the Certificate Registrar or the Trustee that such Certificate has been
acquired by a bona fide purchaser, the Trustee shall execute, countersign and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor, Class and Percentage
Interest. In connection with the issuance of any new Certificate under this
Section 5.03, the Trustee 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 expenses (including the fees and expenses of the Trustee and the
Certificate Registrar) connected therewith. Any duplicate Certificate issued
pursuant to this Section 5.03 shall constitute complete and indefeasible
evidence of ownership in the Trust Fund, 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 due presentation of a
Certificate for registration of transfer, the Company, the Trustee, the
Certificate Registrar and any agent of the Company, 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 Company, the Trustee, the Certificate Registrar nor any agent of
the Company, the Trustee or the Certificate Registrar shall be affected by any
notice to the contrary.
Section 5.05. Access to List of Certificateholders' Names and Addresses.
The Certificate Registrar will furnish or cause to be furnished to the Company,
within 15 days after receipt by the Certificate Registrar of request therefor
from the Company in writing, a list, in such form as the Company may reasonably
require, of the names and addresses of the Certificateholders as of the most
recent Record Date for payment of distributions to Certificateholders. If three
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 after 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 list is as of a date more than
90 days prior to the date of receipt of such applicants' request, the Trustee
shall promptly request from the Certificate Registrar a current list as provided
above, and shall afford such applicants access to such list promptly upon
receipt. Every Certificateholder, by receiving and holding a Certificate, agrees
with the Certificate Registrar and the Trustee that neither the Certificate
Registrar nor the Trustee shall be held accountable by reason of the disclosure
of any such information as to the names and addresses of the Certificateholders
hereunder, regardless of the source from which such information was derived.
Section 5.06. Representation of Certain Certificateholders. The fiduciary
of any Plan which becomes a Holder of a Certificate, by virtue of its acceptance
of such Certificate, will be deemed to have represented and warranted to the
Trustee and the Company that such Plan is an "accredited investor" as defined in
Rule 501(a)(1) of Regulation D promulgated by the Securities and Exchange
Commission under the Securities Act of 1933.
Section 5.07. Determination of COFI. (a) If the outstanding Certificates
include any COFI Certificates, then on each COFI Determination Date the Trustee
shall determine the value of COFI on the basis of the most recently available
Information Bulletin referred to in the definition of "COFI". The establishment
of COFI by the Trustee and the Trustee's subsequent calculation of the rates of
interest applicable to the COFI Certificates for each Interest Accrual Period
shall (in the absence of manifest error) be final and binding. During each
Interest Accrual Period, the Certificate Interest Rate for the COFI Certificates
for the current and immediately preceding Interest Accrual Period shall be made
available by the Trustee to Certificate Owners and Certificateholders at the
following telephone number: (617) 664-5500.
(b) The failure by the Federal Home Loan Bank of San Francisco to publish
COFI for a period of 65 calendar days will constitute an "Alternative Rate
Event" for purposes hereof. Upon the occurrence of an Alternative Rate Event,
the Company will calculate the Certificate Interest Rates for the COFI
Certificates for the subsequent Interest Accrual Periods by using, in place of
COFI, (i) the replacement index, if any, published or designated by the Federal
Home Loan Bank of San Francisco or (ii) if no replacement index is so published
or designated, an alternative index to be selected by the Company that has
performed, or that the Company expects to perform, in a manner substantially
similar to COFI. At the time an alternative index is first selected by the
Company, the Company shall determine the average number of basis points, if any,
by which the alternative index differed from COFI for such period as the
Company, in its sole discretion, reasonably determines to reflect fairly the
long-term difference between COFI and the alternative index, and shall adjust
the alternative index by such average. The Company shall select a particular
index as an alternative only if it receives an Opinion of Counsel to the effect
that the selection of such index will not cause any REMIC established hereunder
to fail to qualify as a REMIC for federal income tax purposes. In the absence of
manifest error, the selection of any alternative index as provided by this
Section 5.07(b) shall be final and binding for each subsequent Interest Accrual
Period. Upon the occurrence of an Alternative Rate Event, the Trustee shall have
no responsibility for the determination of any alternative index or the
calculation of the Certificate Interest Rates for the COFI Certificates.
(c) If at any time after the occurrence of an Alternative Rate Event the
Federal Home Loan Bank of San Francisco resumes publication of COFI, the
Certificate Interest Rates for the COFI Certificates for each Interest Accrual
Period commencing thereafter will be calculated by reference to COFI.
Section 5.08. Determination of LIBOR. (a) If the outstanding Certificates
include any LIBOR Certificates, then on each LIBOR Determination Date the
Trustee shall determine LIBOR for the related Interest Accrual Period as such
rate equal to the Interest Settlement Rate. If such rate does not appear on the
Designated Telerate Page as of 11:00 a.m., London time, on the applicable LIBOR
Determination Date:
(i) The Trustee will request the principal London office of each
Reference Bank (as defined in Section 5.08(e)) to provide such bank's
offered quotation (expressed as a percentage per annum) to prime banks in
the London interbank market for one-month U.S. Dollar deposits as of 11:00
a.m., London time, on the applicable LIBOR Determination Date.
(ii) If on any LIBOR Determination Date, two or more of the Reference
Banks provide such offered quotations, LIBOR for the next Interest Accrual
Period will be the arithmetic mean of such offered quotations (rounding
such arithmetic mean upwards, if necessary, to the nearest whole multiple
of 1/16%). If on any LIBOR Determination Date only one or none of the
Reference Banks provide such offered quotations, LIBOR for the next
Interest Accrual Period will be the rate per annum the Trustee determines
to be the arithmetic mean (rounding such arithmetic mean upwards, if
necessary, to the nearest whole multiple of 1/16%) of the one-month
Eurodollar lending rate that three major banks in New York City selected by
the Trustee are quoting as of approximately 11:00 a.m., New York City time,
on the first day of the applicable Interest Accrual Period.
(iii) If on any LIBOR Determination Date the Trustee is required but
unable to determine LIBOR in the manner provided in subparagraph (ii) of
this Section 5.08(a), LIBOR for the next Interest Accrual Period will be
LIBOR as determined on the previous LIBOR Determination Date, or, in the
case of the first LIBOR Determination Date, the Initial LIBOR Rate.
(b) The establishment of LIBOR by the Trustee and the Trustee's subsequent
calculation of the Certificate Interest Rates applicable to the LIBOR
Certificates for the relevant Interest Accrual Period, in the absence of
manifest error, will be final and binding.
(c) Within five Business Days of the Trustee's calculation of the
Certificate Interest Rates of the LIBOR Certificates, the Trustee shall furnish
to the Company by telecopy (or by such other means as the Trustee and the
Company may agree from time to time) such Certificate Interest Rates.
(d) The Trustee shall provide to Certificateholders who inquire of it by
telephone the Certificate Interest Rates of the LIBOR Certificates for the
current and immediately preceding Interest Accrual Period.
(e) As used herein, "Reference Banks" shall mean no more than four leading
banks engaged in transactions in Eurodollar deposits in the international
Eurocurrency market (i) with an established place of business in London,
England, (ii) whose quotations appear on the display designated "LIBO" on the
Reuters Monitor Money Rates Service (the "Reuters Screen LIBO Page") on the
applicable LIBOR Determination Date and (iii) which have been designated as such
by the Trustee and are able and willing to provide such quotations to the
Trustee on each LIBOR Determination Date. The Reference Banks initially shall
be: Barclay's plc, Bank of Tokyo, National Westminster Bank and Trust Company
and Bankers Trust Company. If any of the initial Reference Banks should be
removed from the Reuters Screen LIBO Page or in any other way fail to meet the
qualifications of a Reference Bank, or if such page is no longer published, the
Trustee, after consultation with the Company, shall use its best efforts to
designate alternate Reference Banks.
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company. The Company shall be liable in
accordance herewith only to the extent of the obligations specifically imposed
upon and undertaken by the Company herein.
Section 6.02. Merger or Consolidation of, or Assumption of the Obligations
of, the Company. Any corporation into which the Company may be merged or
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Company shall be a party, or any corporation
succeeding to the business of the Company, or any corporation, more than 50% of
the voting stock of which is, directly or indirectly, owned by General Electric
Company, or any limited partnership, the sole general partner of which is either
the Company or a corporation, more than 50% of the voting stock of which is
owned, directly or indirectly, by General Electric Company, which executes an
agreement of assumption to perform every obligation of the Company hereunder,
shall be the successor of the Company 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 6.03. Assignment. The Company may assign its rights and delegate
its duties and obligations as servicer under this Agreement; provided, that (i)
the purchaser or transferee accepting such assignment or delegation is qualified
to service mortgage loans for FNMA or FHLMC, is reasonably satisfactory to the
Trustee 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
Company as servicer hereunder from and after the date of such agreement and (ii)
each Rating Agency's rating of any Classes of Certificates in effect immediately
prior to such assignment or delegation would not be qualified, downgraded or
withdrawn as a result thereof. In the case of any such assignment or delegation,
the Company will be released from its obligations as servicer hereunder except
for liabilities and obligations as servicer incurred prior to such assignment or
delegation.
Section 6.04. Limitation on Liability of the Company and Others. Neither
the Company nor any of the directors or officers or employees or agents of the
Company shall be under any liability to the Trust Fund or the Certificateholders
for any action taken or for refraining from the taking of any action by the
Company pursuant to this Agreement, or for errors in judgment; provided,
however, that this provision shall not protect the Company or any such person
against any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of duties of the
Company or by reason of reckless disregard of obligations and duties of the
Company hereunder. The Company and any director or officer or employee or agent
of the Company may rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any matters arising
hereunder. The Company and any director or officer or employee or agent of the
Company shall be indemnified by the Trust Fund and held harmless against any
loss, liability or expense incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any loss, liability or expense
related to any specific Mortgage Loan or Mortgage Loans (except as any such
loss, liability or expense shall be otherwise reimbursable pursuant to this
Agreement) and any loss, liability or expense incurred by reason of willful
misfeasance, bad faith or gross negligence in the performance of duties
hereunder or by reason of reckless disregard of obligations and duties
hereunder. The Company shall be under no obligation to appear in, prosecute or
defend any legal action which is not incidental to its duties to service the
Mortgage Loans in accordance with this Agreement and which in its opinion may
involve it in any expense or liability; provided, however, that the Company may
in its sole discretion undertake any such action which it may deem necessary or
desirable in respect of this Agreement, and the rights and duties of the parties
hereto and the interests of the Certificateholders hereunder. 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 Fund and the Company shall
be entitled to be reimbursed therefor from amounts credited to the Mortgage Loan
Payment Record as provided by Section 3.04.
Section 6.05. The Company Not to Resign. Subject to the provisions of
Sections 6.02 and 6.03, the Company shall not resign from the obligations and
duties hereby imposed on it except upon determination that the performance of
its duties hereunder is no longer permissible under applicable law. Any such
determination permitting the resignation of the Company 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 responsibilities and obligations of the Company in accordance with
Section 7.02.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default. If any one of the following events
("Events of Default") shall occur and be continuing:
(i) Any failure by the Company to make any payment to the Trustee of
funds pursuant to Section 3.02(d) out of which distributions to
Certificateholders of any Class are required to be made under the terms of
the Certificates and this Agreement which failure continues unremedied for
a period of three Business Days after the date upon which written notice of
such failure shall have been given to the Company by the Trustee or to the
Company and the Trustee by Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage Interests aggregating
not less than 25%; or
(ii) Failure on the part of the Company duly to observe or perform in
any material respect any other covenants or agreements of the Company set
forth in the Certificates or in this Agreement, which covenants and
agreements (A) materially affect the rights of Certificateholders and (B)
continue 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 Company by the Trustee, or to the Company and the Trustee by
the Holders of Certificates of each Class affected thereby evidencing, as
to each such Class, Percentage Interests aggregating not less than 25%; or
(iii) The entry of a decree or order by a court or agency or
supervisory authority having jurisdiction in the premises for the
appointment of a conservator, receiver or liquidator in any insolvency,
readjustment of debt, marshalling of assets and liabilities or similar
proceedings of or relating to the Company, or for the winding up or
liquidation of the Company's affairs, and the continuance of any such
decree or order unstayed and in effect for a period of 60 consecutive days;
or
(iv) The consent by the Company to the appointment of a conservator or
receiver or liquidator in any insolvency, readjustment of debt, marshalling
of assets and liabilities or similar proceedings of or relating to the
Company or of or relating to substantially all of its property; or the
Company 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 or reorganization statute, make an assignment for the benefit of
its creditors, or voluntarily suspend payment of its obligations;
then, and in each and every such case, so long as an Event of Default shall not
have been remedied by the Company, either the Trustee, or the Holders of
Certificates of each Class affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 51%, by notice then given in
writing to the Company (and to the Trustee if given by the Certificateholders)
may terminate all of the rights and obligations of the Company as servicer under
this Agreement. On or after the receipt by the Company of such written notice,
all authority and power of the Company 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 7.01; and,
without limitation, the Trustee is hereby authorized and empowered to execute
and deliver, on behalf of the Company, 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 of the Mortgage
Loans and related documents, or otherwise, including, without limitation, the
recordation of the assignments of the Mortgage Loans to it. The Company agrees
to cooperate with the Trustee in effecting the termination of the
responsibilities and rights of the Company hereunder, including, without
limitation, the transfer to the Trustee for the administration by it of all cash
amounts that shall at the time be held by the Company and that have been or
should have been credited by it to the Mortgage Loan Payment Record, or that
have been deposited by the Company in the Certificate Account or are thereafter
received by the Company with respect to the Mortgage Loans. In addition to any
other amounts which are then, or, notwithstanding the termination of its
activities as servicer, may become, payable to the Company under this Agreement,
the Company shall be entitled to receive out of any delinquent payment on
account of interest on a Mortgage Loan, due during the period prior to the
notice pursuant to this Section 7.01 which terminates the obligation and rights
of the Company hereunder and received after such notice, that portion of such
payment which it would have been entitled to retain pursuant to Section 3.04(vi)
if such notice had not been given.
Section 7.02. Trustee to Act; Appointment of Successor. (a) On and after
the time the Company receives a notice of termination pursuant to Section 7.01,
the Trustee shall be the successor in all respects to the Company in its
capacity as servicer under this Agreement and the transactions set forth or
provided for herein and shall succeed to all the rights of and be subject to all
the responsibilities, duties and liabilities relating thereto placed on the
Company in its capacity as servicer by the terms and provisions hereof;
provided, however, that the responsibilities and duties of the Company pursuant
to Sections 2.02 and 2.03(a) and, if the Trustee is prohibited by law or
regulation from making Monthly Advances, the responsibility to make Monthly
Advances pursuant to Section 4.04, shall not be the responsibilities, duties or
obligations of the Trustee; and provided further, that any failure of the
Trustee to perform such duties and responsibilities that is caused by the
Company's failure to cooperate with the Trustee as required by Section 7.01
shall not be considered a default by the Trustee hereunder. As compensation
therefor, the Trustee shall, except as provided in Section 7.01, be entitled to
such compensation as the Company would have been entitled to hereunder if no
such notice of termination had been given. Notwithstanding the above, the
Trustee may, if it shall be unwilling so to act, or shall, if it is legally
unable so to act, appoint, or petition a court of competent jurisdiction to
appoint, any established housing and home finance institution approved to
service mortgage loans for either FNMA or FHLMC, having a net worth of not less
than $10,000,000, as the successor to the Company hereunder in the assumption of
all or any part of the responsibilities, duties or liabilities of the Company
hereunder. Pending appointment of a successor to the Company pursuant to this
Article VII, unless the Trustee is prohibited by law from so acting, the Trustee
shall act in such capacity as hereinabove provided. In connection with such
appointment and assumption, the Trustee may make such arrangements for the
compensation of such successor out of payments on Mortgage Loans as it and such
successor shall agree; provided, however, that no such compensation shall be in
excess of that permitted the Company hereunder. The Trustee and such successor
shall take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession.
(b) Any successor, including the Trustee, to the Company as servicer
pursuant to this Article VII shall during the term of its service as servicer
maintain in force (i) a policy or policies of insurance covering errors and
omissions in the performance of its obligations as servicer hereunder, and (ii)
a fidelity bond in respect of its officers, employees and agents to the same
extent as the Company is so required pursuant to Section 3.15.
Section 7.03. Notification to Certificateholders. Upon any termination or
appointment of a successor to the Company pursuant to this Article VII, the
Trustee shall give prompt written notice thereof to the Certificateholders at
their respective addresses appearing in the Certificate Register.
ARTICLE VIII
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. If an Event of Default has occurred
(which has not been cured), the Trustee shall exercise such of the rights and
powers vested in it by this Agreement, and use the same degree of care and skill
in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of his or her 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
conform to the requirements of this Agreement.
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 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 for an error of
judgment made in good faith by a Responsible Officer of the Trustee, unless
it shall be proved that the Trustee was negligent in performing its duties
in accordance with the terms of this Agreement;
(iii) 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 the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%, 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
(iv) The Trustee shall not be charged with knowledge of (A) any
failure by the Company to comply with the obligations of the Company
referred to in clauses (i) and (ii) of Section 7.01, (B) the rating
downgrade referred to in the definition of "Trigger Event" or (C) any
failure by the Company to comply with the obligations of the Company to
record the assignments of Mortgages referred to in Section 2.01 unless a
Responsible Officer of the Trustee at the Corporate Trust Office obtains
actual knowledge of such failures, occurrence or downgrade or the Trustee
receives written notice of such failures, occurrence or downgrade from the
Company or the Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests aggregating not
less than 25%.
Subject to any obligation of the Trustee to make Monthly Advances as
provided herein, the Trustee shall not be required to expend or risk its own
funds or otherwise incur 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 the repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it, and
none of the provisions contained in this Agreement shall in any event require
the Trustee to perform, or be responsible for the manner of performance of, any
of the obligations of the Company under this Agreement, except during such time,
if any, as the Trustee shall be the successor to, and be vested with the rights,
duties, powers and privileges of, the Company in accordance with the terms of
this Agreement.
Section 8.02. Certain Matters Affecting the Trustee. Except as otherwise
provided in Section 8.01:
(i) The Trustee may conclusively rely and shall be protected in acting
or refraining from acting upon any resolution, Officer's 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;
(ii) The Trustee may consult with counsel and 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 Opinion of Counsel;
(iii) The Trustee shall be under no obligation to exercise any of the
rights or powers vested in it by this Agreement, or to institute, conduct
or defend any litigation hereunder or in relation hereto, at the request,
order or direction of any of the Certificateholders, pursuant to the
provisions of this Agreement, unless such Certificateholders shall have
offered to the Trustee reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or thereby; nothing
contained herein shall, however, relieve the Trustee of the obligations,
upon the occurrence of an Event of Default (which has not been cured), to
exercise such of the rights and powers vested in it by this Agreement, and
to use the same degree of care and skill in their exercise as a prudent
person would exercise or use under the circumstances in the conduct of his
or her own affairs;
(iv) 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;
(v) Prior to the occurrence of an Event of Default 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, approval, bond or other paper or
documents, unless requested in writing so to do by Holders of Certificates
of each Class affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%; 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 cost, expense or
liability as a condition to such proceeding. The reasonable expense of
every such investigation shall be paid by the Company or, if paid by the
Trustee, shall be reimbursed by the Company upon demand. Nothing in this
clause (v) shall derogate from the obligation of the Company to observe any
applicable law prohibiting disclosure of information regarding the
Mortgagors; and
(vi) 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 or a custodian.
Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans. The
recitals contained herein and in the Certificates (other than the signature and
countersignature of the Trustee on the Certificates) shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the
correctness of the same. The Trustee makes no representations as to the validity
or sufficiency of this Agreement or of the Certificates (other than the
signature and countersignature of the Trustee on the Certificates) or of any
Mortgage Loan or related document. The Trustee shall not be accountable for the
use or application by the Company of any of the Certificates or of the proceeds
of such Certificates, or for the use or application of any funds paid to the
Company in respect of the Mortgage Loans or deposited in or withdrawn from the
Certificate Account by the Company.
Section 8.04. Trustee May Own Certificates. The Trustee in its individual
or any other capacity may become the owner or pledgee of Certificates with the
same rights as it would have if it were not Trustee.
Section 8.05. The Company to Pay Trustee's Fees and Expenses. The Company
covenants and agrees to pay to the Trustee from time to time, and the Trustee
shall be entitled to, 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 Company will pay or reimburse the Trustee upon its request
for all reasonable expenses, disbursements and advances (including any Monthly
Advances of the Trustee not previously reimbursed thereto pursuant to Section
3.04) incurred or made by the Trustee 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 or which is the responsibility of Certificateholders
hereunder. In addition, the Company covenants and agrees to indemnify the
Trustee from, and hold it harmless against, any and all losses, liabilities,
damages, claims or expenses other than those resulting from the negligence or
bad faith of the Trustee. From time to time, the Trustee may request that the
Company debit the Mortgage Loan Payment Record pursuant to Section 3.04 to
reimburse the Trustee for any Monthly Advances and Nonrecoverable Advances.
Section 8.06. Eligibility Requirements for Trustee. The Trustee hereunder
shall at all times be a corporation having its principal office either in the
State of New York or in the same state as that in which the initial Trustee
under this Agreement has its principal office and 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 and subject to supervision or examination by
federal or state authority. If such corporation 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 8.06,
the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition
so published. The Trustee shall not be an affiliate of the Company. In case at
any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section 8.06, the Trustee shall resign immediately in the
manner and with the effect specified in Section 8.07.
Section 8.07. Resignation or Removal of Trustee. The Trustee may at any
time resign and be discharged from the trusts hereby created by giving written
notice thereof to the Company. Upon receiving such notice of resignation, the
Company shall promptly appoint a successor Trustee by written instrument, in
duplicate, one copy of which instrument shall be delivered to the resigning
Trustee and one copy to the successor Trustee. If no successor Trustee shall
have been so appointed and having 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 the conditions in any of the following clauses (i), (ii) or (iii) shall
occur at any time, the Company may remove the Trustee: (i) the Trustee shall
cease to be eligible in accordance with the provisions of Section 8.06 and shall
fail to resign after written request therefor by the Company; (ii) the Trustee
shall be legally unable to act, or shall be adjudged a bankrupt or insolvent, or
a receiver of the Trustee or of its property shall be appointed, or any public
officer shall take charge or control of the Trustee or of its property or
affairs for the purpose of rehabilitation, conservation or liquidation; or (iii)
the replacement of the Trustee with a successor Trustee will enable the Company
to avoid (and should, based on the information included in the notice referred
to below, result in the avoidance of) a downgrading of the ratings assigned to
the Certificates by the Rating Agencies (whether or not other actions could
avoid such downgrading) and no Event of Default, as provided by Section 7.01
hereof, shall have occurred or be continuing; provided, however, that no action
shall be taken pursuant to this clause (iii) unless reasonable notice shall have
been provided to the Trustee, which notice shall set forth the basis for any
rating downgrade as contemplated by the Rating Agencies and shall also indicate
the manner in which such proposed action is intended to avoid such downgrade. If
it removes the Trustee under the authority of the immediately preceding
sentence, the Company shall promptly 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.
Any resignation or removal of the Trustee and appointment of a successor
Trustee pursuant to any of the provisions of this Section 8.07 shall not become
effective until acceptance of appointment by the successor Trustee as provided
in Section 8.08.
Section 8.08. Successor Trustee. Any successor Trustee appointed as
provided in Section 8.07 shall execute, acknowledge and deliver to the Company
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 Trustee, without any further act, deed
or conveyance, 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. The predecessor Trustee shall deliver to the successor Trustee
all Mortgage Files and related documents and statements held by it hereunder;
and the Company and the predecessor Trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for fully and
certainly vesting and confirming in the successor Trustee all such rights,
powers, duties and obligations.
No successor Trustee shall accept appointment as provided in this Section
8.08 unless at the time of such acceptance such successor Trustee shall be
eligible under the provisions of Section 8.06.
Upon acceptance of appointment by a successor Trustee as provided in this
Section 8.08, the Company 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 Company fails to mail such notice within 10 days
after acceptance of appointment by the successor Trustee, the successor Trustee
shall cause such notice to be mailed at the expense of the Company.
Section 8.09. Merger or Consolidation of Trustee. Any corporation into
which the Trustee 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 Trustee shall be a party, or any corporation
succeeding to the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06, 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 8.10. Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions of this Agreement, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any part
of the Trust Fund or property securing any Mortgage Note may at the time be
located, the Company and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more Persons
approved by the Trustee to act as co-trustee or co-trustees, jointly with the
Trustee, of all or any part of the Trust Fund, or separate trustee or separate
trustees of any part of the Trust Fund, and to vest in such Person or Persons,
in such capacity and for the benefit of the Certificateholders, such title to
the Trust Fund, or any part thereof, and, subject to the other provisions of
this Section 8.10, such powers, duties, obligations, rights and trusts as the
Company and the Trustee may consider necessary or desirable. If the Company
shall not have joined in such appointment within 15 days after the receipt by it
of a request so to do, or in case an Event of Default shall have occurred and be
continuing, the Trustee alone shall have the power to make such appointment. No
co-trustee or separate trustee hereunder shall be required to meet the terms of
eligibility as a successor trustee under Section 8.06 and no notice to
Certificateholders of the appointment of any co-trustee or separate trustee
shall be required under Section 8.08.
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 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
(it being understood that such separate trustee or co-trustee is not
authorized to act separately without the Trustee joining in such act),
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 Company 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
Fund or any portion thereof in any such jurisdiction) shall be exercised
and performed singly by such separate trustee or co-trustee, but solely at
the direction of the Trustee;
(ii) No trustee hereunder shall be held personally liable by reason of
any act or omission of any other trustee hereunder; and
(iii) The Company and the Trustee acting jointly may at any time
accept the resignation of or remove any separate trustee or co-trustee.
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 or co-trustee shall refer to this Agreement and the conditions
of this Article VIII. 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 filed with the Trustee and a copy thereof given to the
Company.
Any separate trustee or co-trustee 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.
Section 8.11. Compliance with REMIC Provisions; Tax Returns. The Trustee
shall at all times act in such a manner in the performance of its duties
hereunder as shall be necessary to prevent the Trust Fund from failing to
qualify as a REMIC and to prevent the imposition of a tax on the Trust Fund or
the REMIC established hereunder. The Trustee, upon request, will furnish the
Company with all such information within its possession as may be reasonably
required in connection with the preparation of all tax returns of the Trust Fund
and any Reserve Fund, and shall, upon request, execute such returns.
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the Company or Liquidation of
All Mortgage Loans. Subject to Section 9.02, the respective obligations and
responsibilities of the Company and the Trustee created hereby (other than the
obligation of the Trustee to make certain payments to Certificateholders after
the final Distribution Date and the obligation of the Trustee to send certain
notices as hereinafter set forth) 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 (a) the repurchase by the Company of all
Mortgage Loans and all REO Mortgage Loans remaining in the Trust Fund at a price
equal to the sum of (x) 100% of the unpaid principal balance of each Mortgage
Loan (other than any REO Mortgage Loans described in the following clause) as of
the first day of the month in which such purchase price is to be distributed to
Certificateholders plus accrued and unpaid interest thereon at the applicable
Net Mortgage Rate (less any amounts constituting previously unreimbursed Monthly
Advances) to the first day of the month in which such purchase price is to be
distributed to Certificateholders and (y) the appraised value of any REO
Mortgage Loan (less the good faith estimate of the Company of Liquidation
Expenses to be incurred in connection with its disposal thereof), such appraisal
to be conducted by an appraiser mutually agreed upon by the Company and the
Trustee, and (b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan remaining in the
Trust Fund or the disposition of all property acquired upon foreclosure or by
deed in lieu of foreclosure of any Mortgage Loan; provided, however, that in no
event shall the Trust Fund 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 of America to the Court of St.
James's, living on the date of this Agreement. The right of the Company to
repurchase all Mortgage Loans pursuant to clause (a) above shall be conditioned
upon the aggregate of the Scheduled Principal Balance of the Outstanding
Mortgage Loans, at the time of any such repurchase, aggregating less than 10
percent of the aggregate of the Scheduled Principal Balance of the Mortgage
Loans as of the Cut-off Date.
Notice of any termination, specifying the 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
Trustee by letter to Certificateholders mailed not earlier than the 15th day and
not later than the 25th day of the month next preceding the month of such final
distribution specifying (A) the Distribution Date upon which final payment of
the Certificates will be made upon presentation and surrender of the
Certificates at the office 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 only upon presentation
and surrender of the Certificates at the office of the Trustee therein
specified. The Trustee shall give such notice to the Certificate Registrar at
the time such notice is given to Certificateholders. In the event such notice is
given in connection with the exercise by the Company of its right of repurchase,
the Company shall deposit in the Certificate Account not later than 11:00 a.m.
on the Business Day prior to the final Distribution Date in next-day funds an
amount equal to the price described above. Upon presentation and surrender of
the Certificates, the Trustee shall cause to be distributed to
Certificateholders an amount equal to the price calculated as above provided,
any such repurchase being in lieu of the distribution otherwise required to be
made on the Distribution Date upon which the repurchase is effected. Upon
certification to the Trustee by a Servicing Officer following such final
deposit, the Trustee shall promptly release to the Company the Mortgage Files
for the repurchased Mortgage Loans.
On the final Distribution Date, the Trustee shall distribute amounts on
deposit in the Certificate Account and, if applicable, in any Rounding Account,
in accordance with the applicable priorities and uses provided by Sections 4.01
and 4.10. Distributions on each Certificate shall be made on the final
Distribution Date in the manner specified in Section 4.02 but only upon
presentation and surrender of the Certificates.
In the event that all of the Certificateholders shall not surrender their
Certificates for cancellation within six months after the date specified in the
above-mentioned written notice, the Trustee 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
one year 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 and other assets which remain subject
hereto.
Section 9.02. Additional Termination Requirements. (a) In the event the
Company exercises its purchase option as provided in Section 9.01, the Trust
Fund and the REMIC established hereunder shall be terminated in accordance with
the following additional requirements, unless the Trustee has been supplied with
an Opinion of Counsel to the effect that the failure to comply with the
requirements of this Section 9.02 will not (i) result in the imposition of taxes
on "prohibited transactions" of any such REMIC as defined in section 860F of the
Code, or (ii) cause the Trust Fund to fail to qualify as a REMIC at any time
that any Certificates are outstanding:
(i) Within 90 days prior to the final Distribution Date set forth in
the notice given by the Trustee under Section 9.01, the Company shall
prepare and the Trustee shall execute and adopt a plan of complete
liquidation for such REMIC within the meaning of section 860F(a)(4)(A)(i)
of the Code, which shall be evidenced by such notice; and
(ii) Within 90 days after the time of adoption of such a plan of
complete liquidation, the Trustee shall sell all of the assets of the Trust
Fund to the Company for cash in accordance with Section 9.01.
(b) By their acceptance of the Residual Certificates, the Holders thereof
hereby authorize the Trustee to adopt such a plan of complete liquidation which
authorization shall be binding on all successor Holders of the Residual
Certificates.
(c) On the final federal income tax return for the REMIC established
hereunder, the Trustee will attach a statement specifying the date of the
adoption of the plan of liquidation.
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment. This Agreement may be amended from time to time
by the Company and the Trustee, without the consent of any of the
Certificateholders, to cure any ambiguity, to correct or supplement any
provisions herein or therein which may be defective or inconsistent with any
other provisions herein, or to surrender any right or power herein conferred
upon the Company, or to add any other provisions with respect to matters or
questions arising under this Agreement, which shall not be materially
inconsistent with the provisions of this Agreement; provided, however, that such
action shall not, as evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder. Notwithstanding the
foregoing, without the consent of the Certificateholders, the Trustee and the
Company may at any time and from time to time amend this Agreement to modify,
eliminate or add to any of its provisions to such extent as shall be necessary
or appropriate to maintain the qualification of the Trust Fund as a REMIC under
the Code or to avoid or minimize the risk of the imposition of any tax on the
Trust Fund pursuant to the Code that would be a claim against the Trust Fund at
any time prior to the final redemption of the Certificates, provided that the
Trustee has obtained an opinion of independent counsel (which opinion also shall
be addressed to the Company) to the effect that such action is necessary or
appropriate to maintain such qualification or to avoid or minimize the risk of
the imposition of such a tax.
This Agreement may also be amended from time to time by the Company and the
Trustee with the consent of Holders of Certificates evidencing (i) not less than
66% of the Voting Rights of all the Certificates or (ii) Percentage Interests
aggregating not less than 66% of each Class affected by such amendment, for the
purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of this Agreement, or of modifying in any manner the rights of
the Holders of Certificates; provided, however, that no such amendment shall (a)
reduce in any manner the amount of, or delay the timing of, collections of
payments on the Mortgage Loans or distributions which are required to be made on
any Certificate without the consent of the Holder of such Certificate, (b)
adversely affect in any material respects the interests of the Holders of any
Class of Certificates in any manner other than as described in (a), without the
consent of the Holders of Certificates evidencing Percentage Interests
aggregating not less than 66% of such Class, or (c) reduce the aforesaid
percentages of Certificates of any Class required to consent to any such
amendment, without the consent of the Holders of all Certificates of such Class
then outstanding. For purposes of this paragraph, references to "Holder" or
"Holders" shall be deemed to include, in the case of any Class of Book-Entry
Certificates, the related Certificate Owners.
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 Trust Fund to tax or cause the Trust Fund to fail to qualify as a
REMIC at any time that any Certificates are outstanding.
Promptly after the execution of any such amendment or consent 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 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
requirements as the Trustee may prescribe.
Section 10.02. Recordation of Agreement. 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
Company and at its expense on direction by the Trustee, but only upon direction
of the Trustee accompanied by an Opinion of Counsel to the effect that such
recordation materially and beneficially affects the interests of
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 Fund, nor entitle such Certificateholder's legal
representatives or heirs to claim an accounting or to take any action or
commence any proceeding in any court for a partition or winding up of the Trust
Fund, nor otherwise affect the rights, obligations and liabilities of the
parties hereto or any of them.
No Certificateholder shall have any right to vote (except as provided in
Section 10.01) or in any manner otherwise control the operation and management
of the Trust Fund, 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 shall have any right by virtue or by availing itself
of any provisions 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 of each Class affected thereby evidencing, as to each
such Class, Percentage Interests aggregating not less than 25% 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 costs, 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 itself or themselves of any provisions of this
Agreement to affect, disturb or prejudice the rights of the Holders of any other
of the 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, subject to the priority of payments pursuant
to Section 4.01 and the allocation of losses pursuant to Section 4.03, for the
equal, ratable and common benefit of all Certificateholders. For the protection
and enforcement of the provisions of this Section 10.03, 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. 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 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 mail, return receipt requested, (a) in the
case of the Company, to GE Capital Mortgage Services, Inc., 3 Executive Campus,
Cherry Hill, New Jersey 08002, Attention: General Counsel, (b) in the case of
the Trustee, to State Street Bank and Trust Company, Corporate Trust Department,
225 Franklin Street, Boston, Massachusetts 02110, (c) in the case of Fitch, to
Fitch IBCA, Inc., One State Street Plaza, New York, New York 10004, Attention:
Structured Finance Surveillance, and (d) in the case of S&P, Standard and Poor's
Ratings Services, 26 Broadway, 10th Floor, New York, New York 10004, Attention:
Residential Mortgage Surveillance, or, as to each such Person, at such other
address as shall be designated by such Person in a written notice to each other
named Person. 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 so
mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives
such notice.
Section 10.06. Notices to the Rating Agencies. The Company shall deliver
written notice of the following events to each Rating Agency promptly following
the occurrence thereof: material amendment to this Agreement; any Event of
Default; any Trigger Event; change in or termination of the Trustee; removal of
the Company or any successor servicer as servicer; repurchase or replacement of
any Defective Mortgage Loan pursuant to Section 2.03; and final payment to
Certificateholders. In addition, the Company shall deliver copies of the
following documents to each Rating Agency at the time such documents are
required to be delivered pursuant to this Agreement: monthly statements to
Certificateholders pursuant to Section 4.05, annual report of independent
accountants pursuant to Section 3.13 and annual servicer compliance report
pursuant to Section 3.12. Notwithstanding the foregoing, the failure to deliver
such notices or copies shall not constitute an Event of Default under this
Agreement.
Section 10.07. 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 to the extent permitted by law 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 10.08. Certificates Nonassessable and Fully Paid. It is the
intention of the Trustee that Certificateholders shall not be personally liable
for obligations of the Trust Fund, that the beneficial ownership interests
represented by the Certificates shall be nonassessable for any losses or
expenses of the Trust Fund or for any reason whatsoever, and that Certificates
upon execution, countersignature and delivery thereof by the Trustee are and
shall be deemed fully paid.
* * *
<PAGE>
IN WITNESS WHEREOF, the Company and the Trustee have caused this Agreement
to be duly executed by their respective officers and their respective seals,
duly attested, to be hereunto affixed, all as of the day and year first above
written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:____________________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________________
Name:
Title:
STATE STREET BANK AND
TRUST COMPANY,
as Trustee
By:______________________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________________
Name:
Title:
<PAGE>
State of New Jersey )
) ss.:
County of Camden )
On the day of August, 1999 before me, a notary public in and for the State
of New Jersey, personally appeared _______________________, known to me who,
being by me duly sworn, did depose and say that he/she resides at
_________________________
_________________________________________________________; that he/she is a(n)
_________________________ of GE Capital Mortgage Services, Inc., a corporation
formed under the laws of the State of New Jersey, one of the parties that
executed the foregoing instrument; that he/she knows the seal of said
corporation; that the seal affixed to said instrument is such corporate seal;
that it was so affixed by order of the Board of Directors of said corporation;
and that he/she signed his/her name thereto by like order.
----------------------------------
Notary Public
[Notarial Seal]
<PAGE>
The Commonwealth of Massachusetts )
) ss.:
County of Suffolk )
On the day of August, 1999 before me, a notary public in and for the
Commonwealth of Massachusetts, personally appeared ____________________, known
to me who, being by me duly sworn, did depose and say that he/she resides at
_______________________________________________________________________________;
that he/she is a(n) __________________________________ of State Street Bank and
Trust Company, one of the parties that executed the foregoing instrument; that
he/she knows the seal of said Bank; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by order of the Board of Directors
of said Bank; and that he/she signed his/her name thereto by order of the Board
of Directors of said Bank.
----------------------------------
Notary Public
[Notarial Seal]
<PAGE>
EXHIBIT A
FORMS OF CERTIFICATES
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A1 Certificate
Principal Balance:
Class A1 $25,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5B7
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A1 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.
No transfer of any Class M, Class B1, Class B2, Class B3, Class B4 or Class
B5 Certificate which is in the form of a Definitive Certificate shall be made to
any Person unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or a plan subject to Section 4975 of the Internal Revenue Code of
1986, as amended ("Section 4975") (a "Plan") or a Person that is using the
assets of a Plan to acquire such Certificate or (y) is an insurance company
investing assets of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption 95-60, 60 Fed.
Reg. 35925 (July 12, 1995) (the "Exemption") applies to such transferee's
acquisition and holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" and subject to the prohibited transaction provisions
of ERISA or Section 4975 and will not subject the Trustee or the Company to any
obligation in addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in the event that,
as a result of a change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and holding of a Class
M, Class B1, Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or a
Person that is purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under ERISA or Section
4975.
No transfer of any Class R Certificate shall be made to any Person unless
the Trustee has received a certificate from such transferee to the effect that,
among other things, such transferee (x) is not an employee benefit plan subject
to ERISA or a Plan or a Person that is using the assets of a Plan to acquire any
such Class R Certificate or (y) is an insurance company investing assets of its
general account and the Exemption applies to such transferee's acquisition and
holding of any such Class R Certificate.
As provided in the Agreement, and subject to certain limitations therein
set forth, the transfer of this Certificate is registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees.
The Certificates are issuable only as registered Certificates without
coupons in 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 the same Class of authorized denominations
evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or broker of
the signatory who is a member of a signature guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A2 Certificate
Principal Balance:
Class A2 $14,591,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5C5
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A2 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A3 Certificate
Principal Balance:
Class A3 $33,502,466
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5D3
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A3 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A4 Certificate
Principal Balance:
Class A4 $24,260,774
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5E1
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A4 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A5 Certificate
Principal Balance:
Class A5 $35,107,542
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5F8
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A5 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A6 Certificate
Principal Balance:
Class A6 $15,029,684
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5G6
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A6 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A7 Certificate
Principal Balance:
Class A7 $5,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.25% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5H4
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A7 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A8 Certificate
Principal Balance:
Class A8 $178,571
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5J0
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A8 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A9 Certificate
Principal Balance:
Class A9 $5,107,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5K7
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A9 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A10 Certificate
Principal Balance:
Class A10 $28,009,360
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5L5
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A10 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A11 Certificate
Principal Balance:
Class A11 $20,500,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5M3
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A11 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A12 Certificate
Principal Balance:
Class A12 $127,210,748
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5S0
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
A12 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS THE "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" ("REMIC") 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 THE AGREEMENT, AND SHALL
BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE TRUSTEE TO THE
EFFECT THAT 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 SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY THAT HOLDS REMIC
RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE CLEARANCE AND SETTLEMENT OF
SUCH SECURITIES THROUGH BOOK-ENTRY CHANGES IN ACCOUNTS OF PARTICIPATING
ORGANIZATIONS (A "BOOK-ENTRY NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO
THE AGREEMENT AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR BOOK-ENTRY NOMINEES.
THE HOLDER OF THIS CLASS R CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE
IRREVOCABLY APPOINTED THE COMPANY (AS DEFINED HEREIN) AS ITS AGENT AND
ATTORNEY-IN-FACT 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, WITH RESPECT TO THE TRUST FUND.
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY DISQUALIFIED
ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED FOREIGN HOLDER, AS DEFINED IN
THE AGREEMENT OR TO ANY EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION 4975") (A
"PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN TO ACQUIRE THIS
CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE TRANSFER OF THIS CERTIFICATE IS
SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET FORTH HEREIN.
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class R Certificate
Principal Balance:
Class R $100
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5R2
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
R Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.
No transfer of any Class M, Class B1, Class B2, Class B3, Class B4 or Class
B5 Certificate which is in the form of a Definitive Certificate shall be made to
any Person unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or a plan subject to Section 4975 of the Internal Revenue Code of
1986, as amended ("Section 4975") (a "Plan") or a Person that is using the
assets of a Plan to acquire such Certificate or (y) is an insurance company
investing assets of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption 95-60, 60 Fed.
Reg. 35925 (July 12, 1995) (the "Exemption") applies to such transferee's
acquisition and holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" and subject to the prohibited transaction provisions
of ERISA or Section 4975 and will not subject the Trustee or the Company to any
obligation in addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in the event that,
as a result of a change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and holding of a Class
M, Class B1, Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or a
Person that is purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under ERISA or Section
4975.
No transfer of any Class R Certificate shall be made to any Person unless
the Trustee has received a certificate from such transferee to the effect that,
among other things, such transferee (x) is not an employee benefit plan subject
to ERISA or a Plan or a Person that is using the assets of a Plan to acquire any
such Class R Certificate or (y) is an insurance company investing assets of its
general account and the Exemption applies to such transferee's acquisition and
holding of any such Class R Certificate.
As provided in the Agreement, and subject to certain limitations therein
set forth, the transfer of this Certificate is registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees.
The Certificates are issuable only as registered Certificates without
coupons in 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 the same Class of authorized denominations
evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or
broker of the signatory who is a member of a signature guarantee
medallion program.
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class M Certificate
Principal Balance:
Class M $6,677,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5N1
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
M Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.
No transfer of any Class M, Class B1, Class B2, Class B3, Class B4 or Class
B5 Certificate which is in the form of a Definitive Certificate shall be made to
any Person unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or a plan subject to Section 4975 of the Internal Revenue Code of
1986, as amended ("Section 4975") (a "Plan") or a Person that is using the
assets of a Plan to acquire such Certificate or (y) is an insurance company
investing assets of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption 95-60, 60 Fed.
Reg. 35925 (July 12, 1995) (the "Exemption") applies to such transferee's
acquisition and holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" and subject to the prohibited transaction provisions
of ERISA or Section 4975 and will not subject the Trustee or the Company to any
obligation in addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in the event that,
as a result of a change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and holding of a Class
M, Class B1, Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or a
Person that is purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under ERISA or Section
4975.
No transfer of any Class R Certificate shall be made to any Person unless
the Trustee has received a certificate from such transferee to the effect that,
among other things, such transferee (x) is not an employee benefit plan subject
to ERISA or a Plan or a Person that is using the assets of a Plan to acquire any
such Class R Certificate or (y) is an insurance company investing assets of its
general account and the Exemption applies to such transferee's acquisition and
holding of any such Class R Certificate.
As provided in the Agreement, and subject to certain limitations therein
set forth, the transfer of this Certificate is registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees.
The Certificates are issuable only as registered Certificates without
coupons in 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 the same Class of authorized denominations
evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or broker of
the signatory who is a member of a signature guarantee medallion program.
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B1 Certificate
Principal Balance:
Class B1 $2,636,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5P6
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
B1 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B2 Certificate
Principal Balance:
Class B2 $1,406,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R5Q4
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
B2 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES ("BLUE SKY LAWS"), AND SUCH CERTIFICATE MAY NOT BE
OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (C) TO AN
INSTITUTIONAL ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A TRANSACTION EXEMPT
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
ANY APPLICABLE BLUE SKY LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY
OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B3 Certificate
Principal Balance:
Class B3 $1,757,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R4V4
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
B3 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.
No transfer of any Class M, Class B1, Class B2, Class B3, Class B4 or Class
B5 Certificate which is in the form of a Definitive Certificate shall be made to
any Person unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or a plan subject to Section 4975 of the Internal Revenue Code of
1986, as amended ("Section 4975") (a "Plan") or a Person that is using the
assets of a Plan to acquire such Certificate or (y) is an insurance company
investing assets of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption 95-60, 60 Fed.
Reg. 35925 (July 12, 1995) (the "Exemption") applies to such transferee's
acquisition and holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" and subject to the prohibited transaction provisions
of ERISA or Section 4975 and will not subject the Trustee or the Company to any
obligation in addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in the event that,
as a result of a change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and holding of a Class
M, Class B1, Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or a
Person that is purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under ERISA or Section
4975.
No transfer of any Class R Certificate shall be made to any Person unless
the Trustee has received a certificate from such transferee to the effect that,
among other things, such transferee (x) is not an employee benefit plan subject
to ERISA or a Plan or a Person that is using the assets of a Plan to acquire any
such Class R Certificate or (y) is an insurance company investing assets of its
general account and the Exemption applies to such transferee's acquisition and
holding of any such Class R Certificate.
As provided in the Agreement, and subject to certain limitations therein
set forth, the transfer of this Certificate is registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees.
The Certificates are issuable only as registered Certificates without
coupons in 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 the same Class of authorized denominations
evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or broker of
the signatory who is a member of a signature guarantee medallion program.
<PAGE>
In connection with any transfer of this Certificate, the undersigned
registered holder hereof confirms that without utilizing any general
solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being
transferred by the undersigned to a person
whom the undersigned reasonably believes is
a "qualified institutional buyer" (as
defined in Rule 144A under the Securities
Act of 1933, as amended) pursuant to the
exemption from registration under the
Securities Act of 1933, as amended, provided
by Rule 144A thereunder.
|_| (b) This Certificate is being
transferred by the undersigned to an
institutional "accredited investor" (as
defined in Rule 501(a)(1), (2), (3) or (7)
of Regulation D under the Securities Act of
1933, as amended) and that the undersigned
has been advised by the prospective
purchaser that it intends to hold this
Certificate for investment and not for
distribution or resale.
Dated
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not be obligated to
register this Certificate in the name of any person other than the registered
holder thereof unless and until the conditions to any such transfer of
registration set forth herein, and in the Pooling and Servicing Agreement have
been satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is a "qualified
institutional buyer" (as defined in Rule 144A under the Securities Act of 1933,
as amended) and acknowledges that it has received such information as the
undersigned has requested pursuant to Rule 144A or has determined not to request
such information and that it is aware that the registered holder is relying upon
the undersigned's foregoing representations in order to claim the exemption from
registration provided by Rule 144A, and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income Security Act of
1974, as amended, or a plan subject to Section 4975 of the Internal Revenue Code
of 1986, as amended, and is not using the assets of any such employee benefit or
other plan to acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Exemption 95-60, 60 Fed. Reg. 35925
(July 12, 1995), apply to the acquisition and holding by the undersigned of this
Certificate.
Dated
(Signature)
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is an institutional
"accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) of
Regulation D under the Securities Act of 1933, as amended), and (ii) the
undersigned (x) is not an employee benefit plan subject to the Employee
Retirement Income Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not using the
assets of any such employee benefit or other plan to acquire this Certificate or
(y) is an insurance company investing assets of its general account and the
exemptions provided by Section III(a) of Department of Labor Prohibited
Transaction Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated
(Signature)
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES ("BLUE SKY LAWS"), AND SUCH CERTIFICATE MAY NOT BE
OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (C) TO AN
INSTITUTIONAL ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A TRANSACTION EXEMPT
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
ANY APPLICABLE BLUE SKY LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY
OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B4 Certificate
Principal Balance:
Class B4 $702,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R4W2
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
B4 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN CLASSES OF
THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES ("BLUE SKY LAWS"), AND SUCH CERTIFICATE MAY NOT BE
OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM
THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (C) TO AN
INSTITUTIONAL ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A TRANSACTION EXEMPT
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
ANY APPLICABLE BLUE SKY LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY
OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION 5.02 OF THE
AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY EMPLOYEE BENEFIT
PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA") OR A PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED ("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE
ASSETS OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER RESTRICTIONS AS SET
FORTH HEREIN.
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B5 Certificate
Principal Balance:
Class B5 $879,878.77
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date: CUSIP:36157R4X0
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
B5 Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and
<PAGE>
PRINCIPAL WILL NOT BE DISTRIBUTABLE IN RESPECT OF THIS CERTIFICATE. INTEREST IS
CALCULATED ON THIS CERTIFICATE BASED ON THE CLASS S NOTIONAL PRINCIPAL BALANCE,
WHICH, AS OF ANY DISTRIBUTION DATE, IS EQUAL TO THE AGGREGATE SCHEDULED
PRINCIPAL BALANCE OF THE OUTSTANDING NON-DISCOUNT MORTGAGE LOANS AS SET FORTH IN
THE AGREEMENT (AS DEFINED HEREIN). CONSEQUENTLY, THE NOTIONAL PRINCIPAL BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). ANY RESALE OR TRANSFER OF THIS CERTIFICATE
WITHOUT REGISTRATION THEREOF UNDER THE SECURITIES ACT MAY ONLY BE MADE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
IN ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class S Notional
Certificate Principal Balance:
Class S $237,461,299.67
Certificate Interest Initial Notional Certificate
Rate per annum: variable Principal Balance of this Certificate:
$
Cut-off Date:
August 1, 1999
First Distribution Date:
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Notional Principal Balance of this Certificate
by the aggregate initial Notional Principal Balance of all Class S Certificates,
both as specified above) in certain distributions with respect to the Trust
Fund, consisting primarily of a pool (the "Pool") of conventional, fixed rate,
one- to four-family mortgage loans (the "Mortgage Loans"), sold and serviced by
GE Capital Mortgage Services, Inc., a corporation organized and existing under
the laws of the State of New Jersey (the "Company"). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as of August 1, 1999 (the
"Agreement"), between the Company and State Street Bank and Trust Company, as
trustee (the "Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited 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 registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees. The Certificates are issuable only as
registered Certificates without coupons in 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 the
same Class of authorized denominations evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual capacity but
solely as Trustee
(SEAL) By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security or other identifying number of assignee
(Please print or typewrite name and address including postal zip code of
assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or broker of
the signatory who is a member of a signature guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET FORTH IN THE
AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE SERVICES, INC. OR
THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). ANY RESALE OR TRANSFER OF THIS CERTIFICATE
WITHOUT REGISTRATION THEREOF UNDER THE SECURITIES ACT MAY ONLY BE MADE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
IN ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") (AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
REMIC MORTGAGE PASS-THROUGH CERTIFICATE, SERIES 1999-17
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class PO Certificate
Principal Balance:
Class PO $3,891,829.67
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
August 1, 1999
First Distribution Date:
September 27, 1999
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by this Certificate
(obtained by dividing the initial Certificate Principal Balance of this
Certificate by the aggregate initial Certificate Principal Balance of all Class
PO Certificates, both as specified above) in certain distributions with respect
to the Trust Fund, consisting primarily of a pool (the "Pool") of conventional,
fixed rate, one- to four-family mortgage loans (the "Mortgage Loans"), sold and
serviced by GE Capital Mortgage Services, Inc., a corporation organized and
existing under the laws of the State of New Jersey (the "Company"). The Trust
Fund was created pursuant to a Pooling and Servicing Agreement dated as of
August 1, 1999 (the "Agreement"), between the Company and State Street Bank and
Trust Company, as trustee (the "Trustee"), a summary of certain of the pertinent
provisions of which is set forth herein below. To the extent not defined herein,
the terms used herein have the meanings assigned 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.
The Agreement requires the distribution 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 in September 1999, to the Person in whose
name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), of an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the aggregate amount required to be
distributed to Holders of Certificates of the same Class as this Certificate
pursuant to the Agreement.
Distributions on this Certificate will be made by the Trustee by check or
money order mailed to the Person entitled thereto at the address appearing in
the Certificate Register or, upon written request by the Certificateholder, by
such other means of payment as such Person and the Trustee shall agree. Except
as otherwise provided in the Agreement, the final distribution on this
Certificate will be made in the applicable manner described above, after due
notice by the Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the office or agency
maintained for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of Certificates
designated as REMIC Mortgage Pass-Through Certificates, Series 1999-17, issued
in twenty-one Classes (Class A1, Class A2, Class A3, Class A4, Class A5, Class
A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class PO, Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to certain payments on and
collections in respect of the Mortgage Loans, all as more specifically set forth
in the Agreement. The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
Account for payment hereunder and that the Trustee in its individual capacity is
not personally liable to the Certificateholders for any amount payable under
this Certificate or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain exceptions therein provided,
certain losses on the Mortgage Loans resulting from defaults by Mortgagors will
be borne by the Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the Holders of the
other Classes of the Certificates.
This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced hereby, and the rights, duties and
immunities of the Trustee.
The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined in the
Agreement. 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 herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.
No transfer of any Class M, Class B1, Class B2, Class B3, Class B4 or Class
B5 Certificate which is in the form of a Definitive Certificate shall be made to
any Person unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of 1974, as amended
("ERISA") or a plan subject to Section 4975 of the Internal Revenue Code of
1986, as amended ("Section 4975") (a "Plan") or a Person that is using the
assets of a Plan to acquire such Certificate or (y) is an insurance company
investing assets of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Class Exemption 95-60, 60
Fed. Reg. 35925 (July 12, 1995) (the "Exemption") applies to such transferee's
acquisition and holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" and subject to the prohibited transaction provisions
of ERISA or Section 4975 and will not subject the Trustee or the Company to any
obligation in addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in the event that,
as a result of a change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and holding of a Class
M, Class B1, Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or a
Person that is purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under ERISA or Section
4975.
No transfer of any Class R Certificate shall be made to any Person unless
the Trustee has received a certificate from such transferee to the effect that,
among other things, such transferee (x) is not an employee benefit plan subject
to ERISA or a Plan or a Person that is using the assets of a Plan to acquire any
such Class R Certificate or (y) is an insurance company investing assets of its
general account and the Exemption applies to such transferee's acquisition and
holding of any such Class R Certificate.
As provided in the Agreement, and subject to certain limitations therein
set forth, the transfer of this Certificate is registerable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the City of New York,
accompanied by a written instrument of transfer in form satisfactory to the
Company, 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 the same Class of authorized denominations
evidencing the same aggregate Percentage Interest will be issued to the
designated transferee or transferees.
The Certificates are issuable only as registered Certificates without
coupons in 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 the same Class of authorized denominations
evidencing the same 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 may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any agent of 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 Trustee, the
Certificate Registrar nor any such agent shall be affected by any notice to the
contrary.
The obligations and responsibilities created by the Agreement, and the
Trust Fund created thereby shall terminate upon payment to the
Certificateholders, or provision therefor, in accordance with the Agreement
following the earlier of (a) the repurchase by the Company of all Mortgage Loans
and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid principal balance of
each Mortgage Loan (other than a Mortgage Loan described in clause (y)) plus
accrued and unpaid interest thereon at the rate provided for in the Agreement
(less any amounts representing previously unreimbursed Monthly Advances) and (y)
the appraised value of any property acquired in respect of a Mortgage Loan
determined as provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect thereto) of the last
Mortgage Loan remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of any Mortgage
Loan. The right of the Company to repurchase all the Mortgage Loans and property
in respect of Mortgage Loans is subject to the Pool Scheduled Principal Balance
at the time of repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise of such right
will result in early retirement of the Certificates.
Unless this Certificate has been countersigned by 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 under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:
Name:
Title:
Countersigned:
By
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain distributions with
respect to the Trust Fund and hereby authorizes the transfer of registration of
such interest to assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to issue a new Certificate
of like Class and Percentage Interest, to the above named assignee and deliver
such Certificate to the following address:
Dated:
Signature by or on behalf of assignor
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company or broker of
the signatory who is a member of a signature guarantee medallion program.
<PAGE>
EXHIBIT B
PRINCIPAL BALANCE SCHEDULES
None.
<PAGE>
EXHIBIT C
MORTGAGE LOANS
GE Capital Mortgages Services, Inc. EXHIBIT C
Issue Date: June 1, 1999
P.O. Box 5260 DELIVERY ID: 04991730
Cherry Hill, N.J. 08034 PAGE: 1
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
- -257-7818
**** PAGE TOTALS **** NUM OF LOANS: 0 LOAN AMT: 0.00
P & I AMT: 0.00 UPB AMT: 0.00
<S> <C> <C> <C>
LN # 0031912900 MORTGAGORS: PRUSS, TIM
PRUSS, TAMMY
ADDRESS : 18990 PLACER HILLS ROAD
MORTGAGE AMT: 205,000.00 CITY : MEADOW VISTA CA 95722
LIFETIME RATE : 7.25000
UNPAID BALANCE: 203,860.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,398.4653.94700 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 002 01/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031915283 MORTGAGORS: CHOW, ANDREW
ADDRESS : 32722 FOLKLORE LOOP
MORTGAGE AMT: 288,850.00 CITY : UNION CITYCA 94587
LIFETIME RATE : 6.62500
UNPAID BALANCE: 286,771.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,849.5479.98800 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 002 12/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031920499 MORTGAGORS: MCALPIN, MICHAEL
MCALPIN, BARBARA
ADDRESS : 12805 CHIEF JOSEPH ROAD
MORTGAGE AMT: 88,500.00 CITY : APPLE VALLEY CA 92308
LIFETIME RATE : 7.50000
UNPAID BALANCE: 87,650.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 618.8093.15789 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 002 10/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031924814 MORTGAGORS: ROBLES, ALFREDO
ROBLES, KRISTEN
ADDRESS : 2428 STEAMBOAT SPRINGS CO
MORTGAGE AMT: 192,000.00 CITY : CHULA VISTA CA 91915
LIFETIME RATE : 6.87500
UNPAID BALANCE: 190,683.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,261.3180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 002 12/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031927064 MORTGAGORS: BEVINS, RONALD
BEVINS, MARY
ADDRESS : 155 MARILLA AVENUE
MORTGAGE AMT: 262,500.00 CITY : AVALON CA 90704
LIFETIME RATE : 7.00000
UNPAID BALANCE: 261,631.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,746.4275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 002 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031933393 MORTGAGORS: MAZAROS, TONI
ADDRESS : 431 CRESTVALE DRIVE
MORTGAGE AMT: 271,000.00 CITY : SIERRA MADRE CA 91024
LIFETIME RATE : 7.62500
UNPAID BALANCE: 269,124.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,918.1278.55000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 002 12/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031934409 MORTGAGORS: GOUGH, ROBYNN
ADDRESS : 791 LA SIERRA DRIVE
MORTGAGE AMT: 305,000.00 CITY : SACRAMENTOCA 95864
LIFETIME RATE : 7.12500
UNPAID BALANCE: 303,181.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,054.8476.63316 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 002 01/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031981368 MORTGAGORS: KAPPAUF, DON
KAPPAUF, KATHLEEN
ADDRESS : 214 WEST AVENIDA ALLESSAN
MORTGAGE AMT: 232,000.00 CITY : SAN CLEMENTE CA 92672
LIFETIME RATE : 7.50000
UNPAID BALANCE: 231,128.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,622.1854.58800 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 002 03/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031997661 MORTGAGORS: BRUNN, REINHOLD
BRUNN, RENATE
ADDRESS : 3594 MEADOWLANDS LANE
MORTGAGE AMT: 342,250.00 CITY : SAN JOSE CA 95135
LIFETIME RATE : 7.00000
UNPAID BALANCE: 339,959.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,277.0057.04166 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 002 12/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031997729 MORTGAGORS: GULLICKSEN, KEN
GULLICKSEN, LISA
ADDRESS : 1596 SUMMERFIELD DRIVE
MORTGAGE AMT: 275,000.00 CITY : CAMPBELL CA 95008
LIFETIME RATE : 7.25000
UNPAID BALANCE: 273,045.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,875.9854.45544 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 002 12/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031997752 MORTGAGORS: ROCKEFELLER, JOHN
ROCKEFELLER, CINDY
ADDRESS : 2780 THOMAS GRADE
MORTGAGE AMT: 300,000.00 CITY : MORGAN HILL CA 95037
LIFETIME RATE : 7.12500
UNPAID BALANCE: 297,788.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,021.1668.96500 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 002 11/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0031998099 MORTGAGORS: BENGE, ROBERT
BENGE, KIM
ADDRESS : 550 TOYON AVENUE #12
MORTGAGE AMT: 152,000.00 CITY : SAN JOSE CA 95127
LIFETIME RATE : 7.00000
UNPAID BALANCE: 151,241.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,011.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 002 02/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0032000218 MORTGAGORS: BOURGEOIS, LAURENCE
BOURGEOIS, SHERYL
ADDRESS : 24111 TIBURON
MORTGAGE AMT: 364,000.00 CITY : DANA POINTCA 92629
LIFETIME RATE : 7.62500
UNPAID BALANCE: 362,393.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,576.3779.13000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 002 02/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0032001414 MORTGAGORS: MAC, MINH
VU, VIVIAN
ADDRESS : 1465 SIERRA CREEK WAY
MORTGAGE AMT: 256,000.00 CITY : SAN JOSE CA 95132
LIFETIME RATE : 7.00000
UNPAID BALANCE: 254,149.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,703.1780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 002 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0032042475 MORTGAGORS: HALLOCK, ROBERT
HALLOCK, CHERRY
HALLOCK, CHERRY
ADDRESS : 685 WILD OATS WAY
MORTGAGE AMT: 335,000.00 CITY : TEMPLETON CA 93465
LIFETIME RATE : 7.37500
UNPAID BALANCE: 333,970.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,313.7678.45400 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 250 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0032068413 MORTGAGORS: HEATON, GUY
HEATON, KALLIE
ADDRESS : 15 CHANDLER PLACE
MORTGAGE AMT: 267,200.00 CITY : LAS FLORESCA 92688
LIFETIME RATE : 7.25000
UNPAID BALANCE: 266,941.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,822.7879.97400 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 002 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0032090516 MORTGAGORS: GARRISON, RIC
GARRISON, KERRI
ADDRESS : 3542 CAMINO HERMANOS
MORTGAGE AMT: 625,600.00 CITY : LANCASTER CA 93556
LIFETIME RATE : 7.25000
UNPAID BALANCE: 624,621.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,267.6983.41333 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 002 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070777974 MORTGAGORS: DUSWALT, CRAIG
DUSWALT, NATASHA
ADDRESS : 25723 NORTH HOOD WAY
MORTGAGE AMT: 370,000.00 CITY : STEVENSON R CA 91381
LIFETIME RATE : 7.37500
UNPAID BALANCE: 370,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,555.5079.56989 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070844402 MORTGAGORS: KOSTECHKO, NICHOLAS
KOSTECHKO, VICKY
ADDRESS : 3026 CALLE FRONTERA
MORTGAGE AMT: 249,300.00 CITY : SAN CLEMENT CA 92673
LIFETIME RATE : 7.12500
UNPAID BALANCE: 249,080.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,679.5862.32500 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070845797 MORTGAGORS: WOLFE, ADAM
ADDRESS : 7483 PALO VISTA DRIVE
MORTGAGE AMT: 285,000.00 CITY : LOS ANGELES CA 90046
LIFETIME RATE : 7.00000
UNPAID BALANCE: 285,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,896.1173.07692 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070845862 MORTGAGORS: BURK, THOMAS
BURK, PAMELA LEE
ADDRESS : 1547 POPPY PEAK DRIVE
MORTGAGE AMT: 382,000.00 CITY : PASADENA CA 91105
LIFETIME RATE : 6.62500
UNPAID BALANCE: 382,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,445.9954.57143 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070871686 MORTGAGORS: ABAPO, ROIE
ABAPO, CYNTHIA
ADDRESS : 18923 EAST LANGSTON PLACE
MORTGAGE AMT: 286,500.00 CITY : ROWLAND HEI CA 91748
LIFETIME RATE : 7.12500
UNPAID BALANCE: 286,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,930.2077.64228 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070883707 MORTGAGORS: WILLIAMS, RANDAL
WILLIAMS, SUSAN
ADDRESS : 819 VEREDA DEL CIERVO
MORTGAGE AMT: 310,000.00 CITY : GOLETA CA 93117
LIFETIME RATE : 6.87500
UNPAID BALANCE: 310,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,036.4846.96970 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070884978 MORTGAGORS: RODERICK, ENRICO
RODERICK, SANDY
ADDRESS : 4035 SOELRO COURT
MORTGAGE AMT: 805,000.00 CITY : San Jose CA 95127
LIFETIME RATE : 7.12500
UNPAID BALANCE: 805,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 5,423.4370.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 103 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070885405 MORTGAGORS: PETTERSEN, BEVERLY
PETTERSEN, THOMAS
ADDRESS : 21 GROUND PINE LANE
MORTGAGE AMT: 359,200.00 CITY : EASTON CT 06612
LIFETIME RATE : 7.12500
UNPAID BALANCE: 359,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,420.0080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070893706 MORTGAGORS: PRICE, STANLEY
PRICE, JANICE
ADDRESS : 3890 CORBIN AVENUE
MORTGAGE AMT: 473,000.00 CITY : TARZANA CA 91356
LIFETIME RATE : 7.37500
UNPAID BALANCE: 473,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,266.8966.15385 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070894969 MORTGAGORS: CRUZAN, DAVID
CRUZAN, PAMELA
ADDRESS : 6270 GOLD HILLS COURT
MORTGAGE AMT: 300,000.00 CITY : REDDING CA 96003
LIFETIME RATE : 7.37500
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0393.75000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070904412 MORTGAGORS: COLE, CLARENCE
COLE, MARTHE
ADDRESS : 2128 KELLY AVENUE
MORTGAGE AMT: 281,000.00 CITY : UPLAND CA 91786
LIFETIME RATE : 7.37500
UNPAID BALANCE: 281,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,053.7756.20000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 114 08/01/24
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070904453 MORTGAGORS: BESS, CHRIS
BESS, YVETTE
ADDRESS : 2209 CALLE DE PLATA
MORTGAGE AMT: 277,750.00 CITY : SAN DIMAS CA 91773
LIFETIME RATE : 7.37500
UNPAID BALANCE: 277,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,918.3571.21795 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070904933 MORTGAGORS: WEST, GUY
WEST, OLGA
ADDRESS : 4146 ROCHESTER ROAD
MORTGAGE AMT: 328,000.00 CITY : SAN DIEGO CA 92116
LIFETIME RATE : 7.25000
UNPAID BALANCE: 328,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.5480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070909924 MORTGAGORS: ALEXANDER, MICHAEL
ALEXANDER, KATHLEEN
ADDRESS : 420 WEST BEVERLY PLACE
MORTGAGE AMT: 142,200.00 CITY : TRACY CA 95376
LIFETIME RATE : 7.62500
UNPAID BALANCE: 142,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,006.4890.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070912563 MORTGAGORS: KAIN, ROBERT
MANNING, RANELLE
ADDRESS : 22790 MERCEDES ROAD
MORTGAGE AMT: 473,500.00 CITY : CUPERTINO CA 95014
LIFETIME RATE : 7.37500
UNPAID BALANCE: 473,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,270.3565.31034 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070915269 MORTGAGORS: FAVARO, BERNARD
FAVARO, AMY
ADDRESS : 150 BEVERLY STREET
MORTGAGE AMT: 333,800.00 CITY : MOUNTAIN VI CA 94043
LIFETIME RATE : 7.12500
UNPAID BALANCE: 333,800.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,248.8779.47619 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070915533 MORTGAGORS: MCKEOWN, STEVE
MCKEOWN, ELKE
ADDRESS : 4004 PALADIN DRIVE
MORTGAGE AMT: 250,000.00 CITY : SAN JOSE CA 95124
LIFETIME RATE : 7.87500
UNPAID BALANCE: 250,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,812.6787.10801 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070916663 MORTGAGORS: CLARKE, SIMON
CLARKE, LINDA
ADDRESS : 4307 TEESDALE AVENUE
MORTGAGE AMT: 304,000.00 CITY : LOS ANGELES CA 91604
LIFETIME RATE : 7.50000
UNPAID BALANCE: 304,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,125.6180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070921192 MORTGAGORS: DREWS, JOHN
DREWS, CAROLYN
ADDRESS : 6 HERTFORD
MORTGAGE AMT: 278,700.00 CITY : NEWPORT COA CA 92657
LIFETIME RATE : 7.25000
UNPAID BALANCE: 278,700.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,901.2345.68852 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070922109 MORTGAGORS: STAMPS, ODOM
STAMPS, KATE
ADDRESS : 318 FAIRVIEW AVENUE
MORTGAGE AMT: 480,000.00 CITY : SOUTH PASAD CA 91030
LIFETIME RATE : 7.87500
UNPAID BALANCE: 480,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,480.3380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070922414 MORTGAGORS: GIVENS, MARK
ADDRESS : 2901 CORRAL CANYON ROAD
MORTGAGE AMT: 400,000.00 CITY : MALIBU CA 90265
LIFETIME RATE : 8.37500
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,439.7184.65608 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 105 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070924220 MORTGAGORS: TRIGG, HARRY
PARHAM, L
ADDRESS : 7007 7009 1 2
MORTGAGE AMT: 270,000.00 CITY : LOS ANGELES CA 90038
LIFETIME RATE : 7.87500
UNPAID BALANCE: 270,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.6972.97297 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070925011 MORTGAGORS: BRASHEARS, MICHAEL
ADDRESS : 982 CIENEGUITAS RD
MORTGAGE AMT: 444,500.00 CITY : SANTA BARBARA CA 93110
LIFETIME RATE : 7.87500
UNPAID BALANCE: 444,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,222.9370.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070925243 MORTGAGORS: LIFSEY, WALTER
LIFSEY, KATHARINE
ADDRESS : 9538 NAPLES DRIVE
MORTGAGE AMT: 392,000.00 CITY : CYPRESS CA 90630
LIFETIME RATE : 7.37500
UNPAID BALANCE: 392,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,707.4580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070925425 MORTGAGORS: ZAHAROFF, GREGORY
ADDRESS : 3621 KLAMATH ST
MORTGAGE AMT: 198,000.00 CITY : OAKLAND CA 94602
LIFETIME RATE : 7.37500
UNPAID BALANCE: 198,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,367.5468.27586 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070927132 MORTGAGORS: HITCHCOCK, WILLIAM
HITCHCOCK, DEBRA
ADDRESS : 9661 CLIPPER COVE PLACE
MORTGAGE AMT: 276,000.00 CITY : ELK GROVE CA 95758
LIFETIME RATE : 7.25000
UNPAID BALANCE: 276,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,882.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070934757 MORTGAGORS: KAPLAN, JONATHAN
ADDRESS : 4323 BEN AVENUE
MORTGAGE AMT: 512,000.00 CITY : LOS ANGELES CA 91604
LIFETIME RATE : 7.50000
UNPAID BALANCE: 512,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,579.9880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070937644 MORTGAGORS: JOHNSON, AMOS
JOHNSON, VERCIE
ADDRESS : 2885 TORRY CT
MORTGAGE AMT: 349,300.00 CITY : CARLSBAD CA 92009
LIFETIME RATE : 7.50000
UNPAID BALANCE: 349,300.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,813.9485.19512 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 105 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070939376 MORTGAGORS: FITZGERALD, KENNETH
ADDRESS : 726 I AVENUE
MORTGAGE AMT: 561,750.00 CITY : CORONADO CA 92118
LIFETIME RATE : 7.87500
UNPAID BALANCE: 561,363.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,073.0875.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070941687 MORTGAGORS: HARTMAN, SHIRLEY
ADDRESS : 36 GOLF VIEW DRIVE
MORTGAGE AMT: 333,000.00 CITY : TRABUCO CAN CA 92679
LIFETIME RATE : 7.62500
UNPAID BALANCE: 333,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,356.9590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070943964 MORTGAGORS: MATSON, SUSAN
ADDRESS : 1052 9TH STREET
MORTGAGE AMT: 256,800.00 CITY : HERMOSA BEA CA 90254
LIFETIME RATE : 7.87500
UNPAID BALANCE: 256,800.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,861.9868.48000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070945530 MORTGAGORS: MC FADYEN, IAN
MC FADYEN, ALISON
ADDRESS : 996 BURLWOOD DRIVE
MORTGAGE AMT: 500,000.00 CITY : SAN JOSE CA 95120
LIFETIME RATE : 7.50000
UNPAID BALANCE: 500,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,496.0778.98894 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070946009 MORTGAGORS: KLATSKIN, ROBERT
ADDRESS : 1182 1184 S HAYWORTH AVE
MORTGAGE AMT: 352,000.00 CITY : LOS ANGELES CA 90035
LIFETIME RATE : 8.12500
UNPAID BALANCE: 352,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,613.5980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070950175 MORTGAGORS: BROWN, CARL
BROWN, HELENE
ADDRESS : 10108 EMPYREAN WAY
MORTGAGE AMT: 720,000.00 CITY : LOS ANGELES CA 90067
LIFETIME RATE : 7.50000
UNPAID BALANCE: 720,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 5,034.3467.28972 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070951918 MORTGAGORS: HUNSICKER, GALEN
HUNSICKER, KATHRYN
ADDRESS : 19216 SIERRA ISABELLE RD
MORTGAGE AMT: 390,000.00 CITY : IRVINE CA 92612
LIFETIME RATE : 8.00000
UNPAID BALANCE: 389,738.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,861.6879.59184 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070952106 MORTGAGORS: EVANS, SHAWN
EVANS, ANDREA
ADDRESS : 822 SAN JOSE PLACE
MORTGAGE AMT: 304,000.00 CITY : SAN DIEGO CA 92109
LIFETIME RATE : 7.75000
UNPAID BALANCE: 304,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,177.8980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070952189 MORTGAGORS: CHRISTY, JEFF
CHRISTY, COLLEEN
ADDRESS : 27778 BAHAMONDE
MORTGAGE AMT: 296,000.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 7.50000
UNPAID BALANCE: 296,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,069.6780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070953880 MORTGAGORS: TAM, JACK
TAM, SUE
ADDRESS : 3530 NORTH MILLS AVENUE
MORTGAGE AMT: 400,000.00 CITY : CLAREMONT CA 91711
LIFETIME RATE : 8.00000
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,935.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070954144 MORTGAGORS: GROSS, HARRY
GROSS, GAIL
ADDRESS : 2604 SOMERSET DRIVE
MORTGAGE AMT: 625,000.00 CITY : BELMONT CA 94002
LIFETIME RATE : 8.50000
UNPAID BALANCE: 625,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,805.7174.98500 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070956719 MORTGAGORS: CALLEN, THOMAS
ADDRESS : 3237 ESTRELLA DEL MAR WAY
MORTGAGE AMT: 256,000.00 CITY : MARINA CA 93933
LIFETIME RATE : 8.25000
UNPAID BALANCE: 256,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,923.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070957006 MORTGAGORS: PEEDEN, ROBERT
PEEDEN, CYNTHIA
ADDRESS : 25991 CALLE RICARDO
MORTGAGE AMT: 368,750.00 CITY : SAN JUAN CA CA 92675
LIFETIME RATE : 8.00000
UNPAID BALANCE: 368,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,705.7689.93902 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070957527 MORTGAGORS: GOLDSBERRY, RONALD
ADDRESS : 4161 ELMER AVENUE
MORTGAGE AMT: 344,000.00 CITY : NORTH HOLLY CA 91602
LIFETIME RATE : 7.87500
UNPAID BALANCE: 344,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,494.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070967252 MORTGAGORS: WINSTON, CHAREL
ADDRESS : 1954 SHELBY CIRCLE
MORTGAGE AMT: 320,000.00 CITY : EL DORADO H CA 95762
LIFETIME RATE : 7.62500
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,264.9480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0070970272 MORTGAGORS: ROSCHER, AXEL
ROSCHER, CHRISTINE
ADDRESS : 9714 ORCAS AVENUE
MORTGAGE AMT: 325,000.00 CITY : LOS ANGELES CA 91040
LIFETIME RATE : 7.87500
UNPAID BALANCE: 325,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,693.2077.38095 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 105 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080011679 MORTGAGORS: SALAZAR, DAVID
SALAZAR, LINDA
ADDRESS : 33010 SOUTH BIRD ROAD
MORTGAGE AMT: 342,000.00 CITY : TRACY CA 95376
LIFETIME RATE : 8.25000
UNPAID BALANCE: 341,781.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,569.3477.72727 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080012131 MORTGAGORS: MASTROCOLA, MICHAEL
ADDRESS : 1495 PARK AVENUE
MORTGAGE AMT: 174,000.00 CITY : SAN JOSE CA 95126
LIFETIME RATE : 7.37500
UNPAID BALANCE: 173,867.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,201.7751.17647 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080017270 MORTGAGORS: WHITE, JOHN
WHITE, DEBRA
ADDRESS : 675 HAILEY COURT
MORTGAGE AMT: 311,600.00 CITY : SIMI VALLEY CA 93065
LIFETIME RATE : 7.00000
UNPAID BALANCE: 310,987.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,073.0989.97589 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080026420 MORTGAGORS: SNYDER, STANTON
SNYDER, ANN
ADDRESS : 842 EAST BIG BRIAR WAY
MORTGAGE AMT: 280,000.00 CITY : LA CANADA F CA 91011
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,561.820 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.1040.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080031354 MORTGAGORS: HASSELSON, MICHELLE
ADDRESS : 1344 SUNGLOW DRIVE
MORTGAGE AMT: 294,500.00 CITY : OCEANSIDE CA 92056
LIFETIME RATE : 7.37500
UNPAID BALANCE: 293,887.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,034.0495.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080032774 MORTGAGORS: TIMMERMAN, GEORGE
TIMMERMAN, MARILYN
ADDRESS : 687 MADRONE AVENUE
MORTGAGE AMT: 247,000.00 CITY : SUNNYVALE CA 94086
LIFETIME RATE : 7.75000
UNPAID BALANCE: 246,825.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,769.5474.84848 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080034200 MORTGAGORS: LAT, GRACE
LAT, ROBERTO
ADDRESS : 2709 CHERRY BLOSSOM WAY
MORTGAGE AMT: 344,000.00 CITY : UNION CITYCA 94587
LIFETIME RATE : 7.37500
UNPAID BALANCE: 343,474.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,375.9280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080034473 MORTGAGORS: ZEILER, WILLIAM
ZEILER, PATRICIA
ADDRESS : 1252 VALENCIA MESA DRIVE
MORTGAGE AMT: 345,000.00 CITY : FULLERTON CA 92833
LIFETIME RATE : 7.37500
UNPAID BALANCE: 344,473.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,382.8355.20000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080053887 MORTGAGORS: TAN, KIM
TAN, VYONNIE
ADDRESS : 775 ST MICHAEL PLACE
MORTGAGE AMT: 331,750.00 CITY : MORGAN HILL CA 95037
LIFETIME RATE : 7.87500
UNPAID BALANCE: 331,521.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,405.4279.99142 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080058928 MORTGAGORS: WHITE, JOHN
WHITE, CHRISTINE
ADDRESS : 22201 PLATINO
MORTGAGE AMT: 248,400.00 CITY : MISSION VIE CA 92691
LIFETIME RATE : 6.87500
UNPAID BALANCE: 247,840.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,631.8294.99044 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080066145 MORTGAGORS: GORDON, BASIL
GORDON, MICHELLE
ADDRESS : 2 HENNA
MORTGAGE AMT: 467,300.00 CITY : IRVINE CA 92618
LIFETIME RATE : 7.25000
UNPAID BALANCE: 466,935.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,187.8179.99932 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080069602 MORTGAGORS: GRAB, KERSTIN
ADDRESS : 611 HAILEY COURT
MORTGAGE AMT: 326,000.00 CITY : SIMI VALLEY CA 93065
LIFETIME RATE : 7.87500
UNPAID BALANCE: 325,775.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,363.7379.99293 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080069883 MORTGAGORS: NARDELLI, ROBERT
SEIFERT, AUDREY
ADDRESS : 768 STARDUST LANE
MORTGAGE AMT: 260,000.00 CITY : SAN JOSE CA 95123
LIFETIME RATE : 7.37500
UNPAID BALANCE: 259,603.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,795.7680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080070733 MORTGAGORS: WIESER, KEVIN
WIESER, KRISTY
ADDRESS : 24 CHANDLER PLACE
MORTGAGE AMT: 273,800.00 CITY : LAS FLORESCA 92688
LIFETIME RATE : 7.00000
UNPAID BALANCE: 273,575.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,821.6079.98621 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080072572 MORTGAGORS: HOWELLS, JOHN
HOWELLS, TERRI
ADDRESS : 2249 WARMLANDS AVENUE
MORTGAGE AMT: 284,000.00 CITY : VISTA CA 92084
LIFETIME RATE : 7.25000
UNPAID BALANCE: 283,331.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,937.3978.88889 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080072861 MORTGAGORS: STAAL, FREDERICK
STAAL, DARA
ADDRESS : 31423 COAST HIGHWAY #63
MORTGAGE AMT: 388,500.00 CITY : LAGUNA BEAC CA 92651
LIFETIME RATE : 7.00000
UNPAID BALANCE: 387,861.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,584.7170.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080074073 MORTGAGORS: ALLEN, JOHN
ALLEN, TINA
ALLEN, TINA
ADDRESS : 33191 MARINA VISTA DRIVE
MORTGAGE AMT: 264,000.00 CITY : DANA POINTCA 92629
LIFETIME RATE : 7.12500
UNPAID BALANCE: 263,788.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,778.6289.49153 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080079544 MORTGAGORS: THALASINOS, JOHN
THALASINOS, TERRY
ADDRESS : 39635 VINEYARD VIEW DRIVE
MORTGAGE AMT: 500,000.00 CITY : MURRIETA CA 92562
LIFETIME RATE : 7.12500
UNPAID BALANCE: 499,197.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,368.5976.92308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080081391 MORTGAGORS: WHITSELL, GENE
ANGELINI, CARRIE
ADDRESS : 29 IOWA
MORTGAGE AMT: 281,750.00 CITY : IRVINE CA 92606
LIFETIME RATE : 7.00000
UNPAID BALANCE: 281,519.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,874.4989.99010 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080081433 MORTGAGORS: MABERRY, KEIL
MABERRY, LORRAINE
ADDRESS : 19 IOWA
MORTGAGE AMT: 270,600.00 CITY : IRVINE CA 92606
LIFETIME RATE : 7.25000
UNPAID BALANCE: 270,388.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,845.9779.99432 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080081581 MORTGAGORS: CARLSON, ROBERT
ADDRESS : 97 E ST JAMES STREET
MORTGAGE AMT: 279,200.00 CITY : SAN JOSE CA 95112
LIFETIME RATE : 7.50000
UNPAID BALANCE: 276,723.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,952.2180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080083629 MORTGAGORS: DONIGAN, JOSEPH
DONIGAN, ANN
ADDRESS : 2538 PLAZA DEL AMO
MORTGAGE AMT: 342,800.00 CITY : TORRANCE CA 90503
LIFETIME RATE : 7.25000
UNPAID BALANCE: 342,532.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,338.5080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080084023 MORTGAGORS: SHEETS, TIMOTHY
SHEETS, SALLY
ADDRESS : 875 BELL ESPRIT CIRCLE
MORTGAGE AMT: 270,650.00 CITY : SAN MARCOSCA 92069
LIFETIME RATE : 7.62500
UNPAID BALANCE: 270,650.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,915.6494.98824 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080086846 MORTGAGORS: ANTON, DAVID
ANTON, VALERIE
ADDRESS : 19824 OWL CREEK WAY
MORTGAGE AMT: 322,400.00 CITY : LOS ANGELES CA 91326
LIFETIME RATE : 7.37500
UNPAID BALANCE: 321,659.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,226.7480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080087158 MORTGAGORS: MERCADO, ROMEO
MERCADO, ERLINDA
ADDRESS : 20 ROBINS TREE LANE
MORTGAGE AMT: 250,700.00 CITY : IRVINE CA 92602
LIFETIME RATE : 7.62500
UNPAID BALANCE: 250,518.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,774.4479.99617 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080089832 MORTGAGORS: VALIBEIGI, MOSHGON
ADDRESS : 27054 PACIFIC TERRACE DRI
MORTGAGE AMT: 390,500.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 7.37500
UNPAID BALANCE: 389,603.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,697.0988.75000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080092307 MORTGAGORS: PAGE, ANDREW
MARKS PAGE, ILANA
ADDRESS : 867 ROXBURY DRIVE
MORTGAGE AMT: 320,000.00 CITY : PASADENA CA 91104
LIFETIME RATE : 7.37500
UNPAID BALANCE: 319,511.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,210.1780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080093248 MORTGAGORS: SHELTON, JEANIE
ADDRESS : 4123 BRIARGLEN DRIVE
MORTGAGE AMT: 190,000.00 CITY : SAN JOSE CA 95118
LIFETIME RATE : 7.62500
UNPAID BALANCE: 189,359.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,344.8149.60836 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080098296 MORTGAGORS: GILL, JOSEPH
GILL, MICHELLE
ADDRESS : 1320 HORNE CT
MORTGAGE AMT: 251,150.00 CITY : BRENTWOOD CA 94513
LIFETIME RATE : 6.87500
UNPAID BALANCE: 250,726.790 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,649.8879.99707 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080099682 MORTGAGORS: RILEY, MICHAEL
RILEY, NORMA
ADDRESS : 7786 BLOOMFIELD TERRACE
MORTGAGE AMT: 522,500.00 CITY : DUBLIN CA 94568
LIFETIME RATE : 7.75000
UNPAID BALANCE: 522,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,743.2579.99620 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080102916 MORTGAGORS: DONAHUE, MICHAEL
DONAHUE, ANGELA
ADDRESS : 2516 GALICIA
MORTGAGE AMT: 328,000.00 CITY : LAVERNE CA 91750
LIFETIME RATE : 6.62500
UNPAID BALANCE: 327,127.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,100.2368.61925 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080103138 MORTGAGORS: GEORGE, BRIAN
ADDRESS : 611 CURLEW ROAD
MORTGAGE AMT: 280,100.00 CITY : LIVERMORE CA 94550
LIFETIME RATE : 7.12500
UNPAID BALANCE: 279,196.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,887.0994.94915 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080109705 MORTGAGORS: GROOMS, CHARLES
GROOMS, PAMELA
ADDRESS : 347 WINDY LANE
MORTGAGE AMT: 115,500.00 CITY : VISTA CA 92083
LIFETIME RATE : 7.87500
UNPAID BALANCE: 115,420.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 837.4694.67213 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080109770 MORTGAGORS: LECKEY, THOMAS
LECKEY, VICTORIA
ADDRESS : 11 CHANDLER PLACE
MORTGAGE AMT: 240,850.00 CITY : LAS FLORESCA 92688
LIFETIME RATE : 7.62500
UNPAID BALANCE: 240,675.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,704.7379.98472 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080111065 MORTGAGORS: HALSTED, SCOTT
HALSTED, ELIZABETH
ADDRESS : 76 ETHEL AVENUE
MORTGAGE AMT: 275,000.00 CITY : MILL VALLEY CA 94941
LIFETIME RATE : 7.37500
UNPAID BALANCE: 274,790.740 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,899.3629.89130 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080111362 MORTGAGORS: PENCE, CODY
PENCE, YVONNE
ADDRESS : 25542 HOUSMAN PLACE
MORTGAGE AMT: 304,750.00 CITY : STEVENSON R CA 91381
LIFETIME RATE : 7.75000
UNPAID BALANCE: 304,534.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,183.2779.99549 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080112709 MORTGAGORS: HAWKS, MICHAEL
HAWKS, MICHELE
ADDRESS : 23112 FAIRFIELD
MORTGAGE AMT: 327,600.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 7.25000
UNPAID BALANCE: 327,600.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,234.8179.99043 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080113756 MORTGAGORS: PRICE, JEFFERY
KARCH, KRISTA
ADDRESS : 32 STANFORD HILL ROAD
MORTGAGE AMT: 292,000.00 CITY : ESSEX CT 06426
LIFETIME RATE : 7.50000
UNPAID BALANCE: 291,783.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,041.7092.69841 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080113939 MORTGAGORS: YUNG, JOHANN
YUNG, ABEY
ADDRESS : 5391 EVENING SKY
MORTGAGE AMT: 392,200.00 CITY : SIMI VALLEY CA 93063
LIFETIME RATE : 8.12500
UNPAID BALANCE: 391,943.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,912.0874.99962 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080114028 MORTGAGORS: BASLER, STEVEN
BASLER, LANGEMAK
ADDRESS : 150 HEMLOCK STREET
MORTGAGE AMT: 288,000.00 CITY : EAST GREENW RI 02818
LIFETIME RATE : 7.00000
UNPAID BALANCE: 287,763.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,916.0790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080115496 MORTGAGORS: ABEYTA, SALVADOR
ABEYTA, NANCY
ADDRESS : 13057 LOGAN STREET
MORTGAGE AMT: 270,000.00 CITY : THORNTON CO 80241
LIFETIME RATE : 7.87500
UNPAID BALANCE: 269,814.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.6987.09677 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080115660 MORTGAGORS: HIANIK, RICHARD
HIANIK, THERESE
ADDRESS : 1057 BURTON TERRACE
MORTGAGE AMT: 270,000.00 CITY : GLENVIEW IL 60025
LIFETIME RATE : 7.62500
UNPAID BALANCE: 269,804.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,911.0580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080116031 MORTGAGORS: HOLDER, WORTH
HOLDER, KATHLEEN
ADDRESS : 42 JAMESTOWN COURT
MORTGAGE AMT: 250,000.00 CITY : GRAYSLAKE IL 60030
LIFETIME RATE : 7.37500
UNPAID BALANCE: 249,709.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,726.6979.87220 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080116072 MORTGAGORS: EYINK, C
EYINK, DIANE
ADDRESS : 100 BALLAS COURT
MORTGAGE AMT: 575,000.00 CITY : TOWN AND CO MO 63131
LIFETIME RATE : 7.75000
UNPAID BALANCE: 575,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,119.3773.71795 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080116205 MORTGAGORS: MCGAVIN, BRIAN
SNOW, THOMAS
ADDRESS : 11791 FRICKER AVENUE
MORTGAGE AMT: 350,000.00 CITY : TUSTIN CA 92782
LIFETIME RATE : 6.87500
UNPAID BALANCE: 349,410.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.2694.99511 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080117047 MORTGAGORS: TRAN, HAI
ADDRESS : 1469 FOUR OAKS ROAD
MORTGAGE AMT: 253,000.00 CITY : SAN JOSE CA 95131
LIFETIME RATE : 7.50000
UNPAID BALANCE: 252,433.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,769.0279.81073 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080117096 MORTGAGORS: BARNES, KEVIN
SUAREZ BARNE, INES
ADDRESS : 3228 CAMARILLO COURT
MORTGAGE AMT: 429,800.00 CITY : SAN JOSE CA 95135
LIFETIME RATE : 7.00000
UNPAID BALANCE: 428,736.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,859.4778.14545 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080117260 MORTGAGORS: CROWLEY, JEROME
CROWLEY, SUZANNE
ADDRESS : 2 CRICKET CIRCLE
MORTGAGE AMT: 284,400.00 CITY : ANDOVER MA 01810
LIFETIME RATE : 7.37500
UNPAID BALANCE: 283,746.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,964.2880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080117393 MORTGAGORS: BARKSDALE, JAMES
ADDRESS : 3035 ELLA LEE LANE
MORTGAGE AMT: 500,000.00 CITY : HOUSTON TX 77019
LIFETIME RATE : 7.62500
UNPAID BALANCE: 499,273.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,538.9778.74016 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080117914 MORTGAGORS: KIESSLING, KATHERINE
ADDRESS : 1328 POINTE CLAIRE DRIVE
MORTGAGE AMT: 290,400.00 CITY : SUNNYVALE CA 94087
LIFETIME RATE : 7.37500
UNPAID BALANCE: 290,400.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,005.7352.80000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080118284 MORTGAGORS: SAN FILIPPO, SCOTT
SAN FILIPPO, KATHLEEN
ADDRESS : 23 VALEROSO
MORTGAGE AMT: 289,050.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.00000
UNPAID BALANCE: 287,851.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,923.0689.99010 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 03/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080118425 MORTGAGORS: ILIZAROV, MICHAEL
ILIZAROV, ELENA
ADDRESS : 82 RIDGE BROOK DRIVE
MORTGAGE AMT: 500,000.00 CITY : STAMFORD CT 06903
LIFETIME RATE : 7.00000
UNPAID BALANCE: 500,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,326.5169.83240 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119225 MORTGAGORS: HOWARD, BRUCE
HOWARD, ROBIN
ADDRESS : 10475 SW 72ND AVENUE
MORTGAGE AMT: 340,000.00 CITY : MIAMI FL 33156
LIFETIME RATE : 8.00000
UNPAID BALANCE: 339,771.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,494.8074.72527 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119357 MORTGAGORS: BIRON, MARK
BIRON, ROBERTA
ADDRESS : 6 GLEN GERY ROAD
MORTGAGE AMT: 304,000.00 CITY : SHREWSBURYMA 01545
LIFETIME RATE : 7.50000
UNPAID BALANCE: 303,774.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,125.6180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119571 MORTGAGORS: FORSTNER, HALI
SHRADER, WILLIAM
ADDRESS : 2018 ARBOR AVENUE
MORTGAGE AMT: 460,000.00 CITY : BELMONT CA 94002
LIFETIME RATE : 7.12500
UNPAID BALANCE: 459,632.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,099.1179.72270 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119639 MORTGAGORS: COX, GARRY
COX, ROBYN
ADDRESS : 260 ALTO LOMA STREET
MORTGAGE AMT: 300,000.00 CITY : MILLBRAE CA 94030
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,754.090 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9169.76744 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119662 MORTGAGORS: BAO, IRVING
BAO, PHOENIX
ADDRESS : 272 SOUTH CRESCENT DRIVE
MORTGAGE AMT: 401,800.00 CITY : BEVERLY HIL CA 90212
LIFETIME RATE : 7.12500
UNPAID BALANCE: 401,155.470 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,707.0044.64444 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119746 MORTGAGORS: PACULA, JOSEPH
PACULA, ROSALIE
ADDRESS : 5035 CAMINITO EXQUISITO
MORTGAGE AMT: 320,000.00 CITY : SAN DIEGO CA 92130
LIFETIME RATE : 7.00000
UNPAID BALANCE: 319,473.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,128.9768.08511 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119779 MORTGAGORS: WITTIG, MICHAEL
WITTIG, CATHERINE
ADDRESS : 4873 KINGBROOK DRIVE
MORTGAGE AMT: 328,000.00 CITY : SAN JOSE CA 95124
LIFETIME RATE : 7.00000
UNPAID BALANCE: 327,731.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,182.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080119928 MORTGAGORS: MARCOE, DAVID
MARCOE, LORI
ADDRESS : 3247 NORTHWEST 60TH STREE
MORTGAGE AMT: 350,000.00 CITY : SEATTLE WA 98107
LIFETIME RATE : 7.50000
UNPAID BALANCE: 349,740.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,447.2566.03774 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080120868 MORTGAGORS: GRUNBAUM, SANDOR
GRUNBAUM, SUZANNE
ADDRESS : 7130 E SADDLEBACK ST #27
MORTGAGE AMT: 350,000.00 CITY : Mesa AZ 85207
LIFETIME RATE : 7.50000
UNPAID BALANCE: 349,740.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,447.2566.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121023 MORTGAGORS: ORNEE, MICHAEL
ORNEE, DOROTHY
ADDRESS : 1375 COUGAR RIDGE ROAD
MORTGAGE AMT: 275,000.00 CITY : BUELLTON CA 93427
LIFETIME RATE : 7.12500
UNPAID BALANCE: 274,780.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,852.7349.10714 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121080 MORTGAGORS: HARRISON, BRYAN
HARRISON, KATHLEEN
ADDRESS : 3164 DENTON PLACE
MORTGAGE AMT: 363,600.00 CITY : ROSWELL GA 30075
LIFETIME RATE : 7.25000
UNPAID BALANCE: 363,316.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,480.4080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121106 MORTGAGORS: PLUCHAR, MICHAEL
PLUCHAR, PHOEBE
ADDRESS : 961 EAST GRANT PLACE
MORTGAGE AMT: 360,000.00 CITY : SAN MATEO CA 94402
LIFETIME RATE : 7.00000
UNPAID BALANCE: 359,704.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,395.0979.47020 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121114 MORTGAGORS: ORSI, ALDO
orsi, margarita
ADDRESS : 200 BUCK KNOLL Road
MORTGAGE AMT: 403,000.00 CITY : Boulder Creek CA 95006
LIFETIME RATE : 7.62500
UNPAID BALANCE: 402,708.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,852.4179.96000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121130 MORTGAGORS: GIRON, ANDRES
GIRON, ROSANNA
ADDRESS : 12412 SADDLERIDGE COURT
MORTGAGE AMT: 504,000.00 CITY : CAMARILLO CA 93012
LIFETIME RATE : 7.50000
UNPAID BALANCE: 503,625.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,524.0474.94424 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121155 MORTGAGORS: SMITH, RUTH
WILSON, FLORENCE
ADDRESS : 15 LONDON CT
MORTGAGE AMT: 304,000.00 CITY : CLAYTON CA 94517
LIFETIME RATE : 7.75000
UNPAID BALANCE: 303,785.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,177.9080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080121908 MORTGAGORS: LEAVITT, ROBERT
ZAZANIS, DONNA
ADDRESS : 2726 WILLOW DRIVE
MORTGAGE AMT: 262,600.00 CITY : VIENNA VA 22181
LIFETIME RATE : 7.00000
UNPAID BALANCE: 262,384.740 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,747.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080122005 MORTGAGORS: URBAN, TIMOTHY
URBAN, CHIEU
ADDRESS : 19634 HOOVER FARM DRIVE
MORTGAGE AMT: 356,150.00 CITY : LAYTONSVILL MD 20882
LIFETIME RATE : 7.37500
UNPAID BALANCE: 355,879.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,459.8479.99775 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080122047 MORTGAGORS: RAMOS, RONALD
YUN, SUZIE
ADDRESS : 2529 TRAILSIDE WAY
MORTGAGE AMT: 392,000.00 CITY : UNION CITYCA 94587
LIFETIME RATE : 7.25000
UNPAID BALANCE: 391,694.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,674.1477.93179 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080122054 MORTGAGORS: LAO, ROBERTSON
PASTORELLI, PATRICIA
ADDRESS : 19636 HOOVER FARM DRIVE
MORTGAGE AMT: 338,700.00 CITY : LAYTONSVILL MD 20882
LIFETIME RATE : 7.37500
UNPAID BALANCE: 338,442.270 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,339.3279.99528 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080124209 MORTGAGORS: CASEY, RICHARD
CASEY, DEBRA
ADDRESS : 30 GOLFVIEW CIRCLE
MORTGAGE AMT: 352,000.00 CITY : STAMFORD CT 06902
LIFETIME RATE : 7.50000
UNPAID BALANCE: 351,211.370 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,461.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080125099 MORTGAGORS: LEVIN, GARY
LEVIN, SARA
ADDRESS : #2A 395 RIVERSIDE DRIVE
MORTGAGE AMT: 275,000.00 CITY : NEW YORK NY 10025
LIFETIME RATE : 7.12500
UNPAID BALANCE: 274,558.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,852.7355.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080127103 MORTGAGORS: KAMARA, JOSEPH
ADDRESS : 9 BOULDER LANE
MORTGAGE AMT: 303,750.00 CITY : SHARON MA 02067
LIFETIME RATE : 7.25000
UNPAID BALANCE: 303,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.1175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080127210 MORTGAGORS: COORE, WILLIAM
COORE, SUE
ADDRESS : 8300 E. DIXILETA #203
MORTGAGE AMT: 300,000.00 CITY : ScottsdaleAZ 85262
LIFETIME RATE : 7.50000
UNPAID BALANCE: 299,777.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,097.6453.57000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080127376 MORTGAGORS: MAI, MIKE
MAI, IVY
ADDRESS : 9 RINCON
MORTGAGE AMT: 388,000.00 CITY : IRVINE CA 92620
LIFETIME RATE : 7.37500
UNPAID BALANCE: 387,704.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,679.8280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080128556 MORTGAGORS: CERULLO, ANTHONY
ADDRESS : 115 CIRCLE ROAD
MORTGAGE AMT: 502,500.00 CITY : STATEN ISLA NY 10304
LIFETIME RATE : 6.87500
UNPAID BALANCE: 498,766.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,301.0775.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 351 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080128697 MORTGAGORS: CONRAD, GORDON
CONRAD, ELIZABETH
ADDRESS : 11 FREEMAN STREET
MORTGAGE AMT: 260,000.00 CITY : AUBURNDALEMA 02166
LIFETIME RATE : 7.12500
UNPAID BALANCE: 259,372.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,751.6761.90476 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 351 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080133101 MORTGAGORS: NGUYEN, THOMAS
NGUYEN, JULIE
ADDRESS : 23 CLERMONT
MORTGAGE AMT: 370,000.00 CITY : NEWPORT COA CA 92657
LIFETIME RATE : 7.00000
UNPAID BALANCE: 369,696.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,461.6256.92308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080133283 MORTGAGORS: REAMS, OLIN
REAMS, REBECCA
ADDRESS : 4840 VIA DE CABALLE
MORTGAGE AMT: 280,000.00 CITY : SAN JOSE CA 95118
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,781.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.0974.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080133291 MORTGAGORS: VITO, JONATHAN
VITO, CAROLINA
ADDRESS : 50 MADERA
MORTGAGE AMT: 350,000.00 CITY : SAN CARLOSCA 94070
LIFETIME RATE : 7.00000
UNPAID BALANCE: 349,713.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,328.5674.46809 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080133309 MORTGAGORS: CHU, JAKONG
ADDRESS : 10541 MADERA DRIVE
MORTGAGE AMT: 308,000.00 CITY : CUPERTINO CA 95014
LIFETIME RATE : 7.25000
UNPAID BALANCE: 307,759.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,101.1040.63325 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080134117 MORTGAGORS: MAHON, KEVIN
MAHON, CHERYL
ADDRESS : 6 OGDEN COVER
MORTGAGE AMT: 315,350.00 CITY : MIDDLETOWNNJ 07748
LIFETIME RATE : 7.50000
UNPAID BALANCE: 315,350.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,204.9885.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080134547 MORTGAGORS: COOK, JAMES
COOK, AUDREY
ADDRESS : 3755 PAXTON PLACE
MORTGAGE AMT: 360,000.00 CITY : SANTA ROSACA 95404
LIFETIME RATE : 7.00000
UNPAID BALANCE: 359,704.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,395.0975.78947 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080135361 MORTGAGORS: RICKETTS, GALE
ADDRESS : 17 TWIN RIDGES ROAD
MORTGAGE AMT: 500,000.00 CITY : OSSINING NY 10562
LIFETIME RATE : 7.50000
UNPAID BALANCE: 499,502.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,496.0876.92308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080135569 MORTGAGORS: GILBERT, EVELYNE
POLZIN, THOMAS
ADDRESS : 2509 9TH AVE WEST
MORTGAGE AMT: 333,350.00 CITY : SEATTLE WA 98119
LIFETIME RATE : 7.00000
UNPAID BALANCE: 333,075.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,217.7979.99760 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080135585 MORTGAGORS: AIGNER, PAUL
AIGNER, CRISTI
ADDRESS : 9425 NORTHEAST 16TH STREE
MORTGAGE AMT: 445,000.00 CITY : BELLEVUE WA 98004
LIFETIME RATE : 7.25000
UNPAID BALANCE: 444,652.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,035.6869.53125 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080135825 MORTGAGORS: MACRI, STEVEN
LAFFEY, MARY
ADDRESS : 63 SUNNYCREST ROAD
MORTGAGE AMT: 242,400.00 CITY : TRUMBULL CT 06611
LIFETIME RATE : 7.37500
UNPAID BALANCE: 238,359.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,674.2080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080135940 MORTGAGORS: SAX, KENNETH
SAX, MICHELE
ADDRESS : 4 YEAGER WAY
MORTGAGE AMT: 460,000.00 CITY : WAYLAND MA 01778
LIFETIME RATE : 6.62500
UNPAID BALANCE: 458,363.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,945.4461.00796 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080136088 MORTGAGORS: SWEENEY, PATRICK
SITKO, MARGARET
ADDRESS : 1137 SHADY AVENUE
MORTGAGE AMT: 349,200.00 CITY : PITTSBURGHPA 15217
LIFETIME RATE : 6.87500
UNPAID BALANCE: 347,716.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,294.0080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 03/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080136112 MORTGAGORS: ZAVODNEY, ANDREW
ZAVODNEY, GAYE
ADDRESS : 4754 W BATH ROAD
MORTGAGE AMT: 270,400.00 CITY : AKRON OH 44333
LIFETIME RATE : 7.00000
UNPAID BALANCE: 269,505.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,798.9880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080136252 MORTGAGORS: YOUNGER, WILLIAM
YOUNGER, JANET
ADDRESS : 408 LOVETT BOULEVARD
MORTGAGE AMT: 272,000.00 CITY : HOUSTON TX 77006
LIFETIME RATE : 6.50000
UNPAID BALANCE: 271,258.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,719.2380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080136328 MORTGAGORS: PEPPERMAN, RONALD LYN
ADDRESS : 937 BRENTWOOD DRIVE
MORTGAGE AMT: 282,000.00 CITY : SAN JOSE CA 95129
LIFETIME RATE : 7.25000
UNPAID BALANCE: 280,932.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,923.7472.86822 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137029 MORTGAGORS: BOYD, C
BOYD, T
ADDRESS : 3214 STRATFORD DRIVE
MORTGAGE AMT: 264,000.00 CITY : TEMPLE TX 76502
LIFETIME RATE : 7.25000
UNPAID BALANCE: 263,077.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,800.9580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137086 MORTGAGORS: ABRAHM, MARK
ADDRESS : 355 CAMDEN ROAD
MORTGAGE AMT: 540,000.00 CITY : ATLANTA GA 30309
LIFETIME RATE : 6.75000
UNPAID BALANCE: 538,124.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,502.4380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137383 MORTGAGORS: FRANKS, DENNIS
FRANKS, NANCY
ADDRESS : 4 WESTMOUNT COURT
MORTGAGE AMT: 428,800.00 CITY : GREENSBORONC 27410
LIFETIME RATE : 7.25000
UNPAID BALANCE: 428,128.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,925.1779.85102 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137516 MORTGAGORS: KALLAHER, CHRISTOPHE
KAPLAN, CLAIRE
ADDRESS : 114 FENWAY
MORTGAGE AMT: 302,400.00 CITY : BOSTON MA 02215
LIFETIME RATE : 7.62500
UNPAID BALANCE: 302,181.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,140.3780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137722 MORTGAGORS: MCCOY, PATRICK
MCCOY, JOANNE
ADDRESS : 6942 N KEYSTONE AVENUE
MORTGAGE AMT: 360,000.00 CITY : LINCOLNWOOD IL 60645
LIFETIME RATE : 7.50000
UNPAID BALANCE: 360,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,517.1862.06897 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137797 MORTGAGORS: BARR, JACK
BARR, SHANA
ADDRESS : 8800 SKYRON PLACE
MORTGAGE AMT: 208,000.00 CITY : SPRINGFIELD VA 22153
LIFETIME RATE : 7.25000
UNPAID BALANCE: 207,418.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,418.9380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137805 MORTGAGORS: PARKINSON, JEANETTE
VALDEZ, RACHEL
ADDRESS : 126 NORTH 40TH ST
MORTGAGE AMT: 314,955.00 CITY : SEATTLE WA 98103
LIFETIME RATE : 7.50000
UNPAID BALANCE: 314,721.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,202.2190.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137870 MORTGAGORS: TERP, FREDERICK
TERP, LYNN
ADDRESS : 104 BRIAR LANE
MORTGAGE AMT: 315,000.00 CITY : WESTWOOD MA 02090
LIFETIME RATE : 7.87500
UNPAID BALANCE: 314,783.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,283.9776.82927 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137888 MORTGAGORS: BASILE, MARK
BASILE, GRACE
ADDRESS : 132 WRIGHT ROAD
MORTGAGE AMT: 368,500.00 CITY : HOLLIS NH 03049
LIFETIME RATE : 7.25000
UNPAID BALANCE: 368,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,513.8288.05257 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080137979 MORTGAGORS: SINGER, LARRY
SINGER, BARBARA
ADDRESS : 12815 CORTE CORDILLERA
MORTGAGE AMT: 425,000.00 CITY : SALINAS CA 93908
LIFETIME RATE : 7.12500
UNPAID BALANCE: 424,660.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,863.3068.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138001 MORTGAGORS: FANELLI, FRANK
FANELLI, CAROLINE
ADDRESS : 10 LOUIS DRIVE
MORTGAGE AMT: 381,600.00 CITY : KATONAH NY 10536
LIFETIME RATE : 7.25000
UNPAID BALANCE: 381,302.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,603.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138019 MORTGAGORS: SHORE, ROBERT
SHORE, TAMMI
ADDRESS : 34 PEGASUS DRIVE
MORTGAGE AMT: 372,500.00 CITY : COTO DE CAZ AREA CA 92679
LIFETIME RATE : 7.37500
UNPAID BALANCE: 372,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,572.7662.34310 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138076 MORTGAGORS: PERRY, RICHARD
PERRY, JOSEPHINE
ADDRESS : 23049 COLUMBUS ROAD
MORTGAGE AMT: 142,500.00 CITY : MANSFIELD NJ 08022
LIFETIME RATE : 6.87500
UNPAID BALANCE: 142,222.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,094.1389.06250 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 105 07/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138134 MORTGAGORS: NABORS, JOHN
NABORS, SUSAN
ADDRESS : 941 GLENBROOK DRIVE
MORTGAGE AMT: 345,000.00 CITY : ATLANTA GA 30318
LIFETIME RATE : 7.37500
UNPAID BALANCE: 344,737.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,382.8360.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138167 MORTGAGORS: CHAMBERS, THOMAS
ADDRESS : 811 NEWELL STREET
MORTGAGE AMT: 120,000.00 CITY : BELLINGHAMWA 98225
LIFETIME RATE : 7.25000
UNPAID BALANCE: 119,812.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 818.6165.21739 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138381 MORTGAGORS: FORLIFER, WILLIAM
FORLIFER, SUSAN
ADDRESS : 9486 GREGORY ROAD
MORTGAGE AMT: 380,000.00 CITY : EASTON MD 21601
LIFETIME RATE : 7.00000
UNPAID BALANCE: 380,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,528.1580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138423 MORTGAGORS: MARSH, DENNIS
MARSH, THERESA
ADDRESS : 11500 PADRE WAY
MORTGAGE AMT: 375,200.00 CITY : DUBLIN CA 94568
LIFETIME RATE : 6.75000
UNPAID BALANCE: 374,457.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,852.8980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080138662 MORTGAGORS: SKEZAS, SANDY
SKEZAS, GEORGE
ADDRESS : 126 LENNOX STREET
MORTGAGE AMT: 280,000.00 CITY : SANTA CRUZCA 95060
LIFETIME RATE : 7.25000
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.1077.77778 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080139181 MORTGAGORS: KIM, GRACE
ADDRESS : 105 RIVERBEND DRIVE
MORTGAGE AMT: 378,900.00 CITY : GROTON MA 01450
LIFETIME RATE : 7.37500
UNPAID BALANCE: 378,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,616.9790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080139223 MORTGAGORS: ROBERTS, ALICE
ADDRESS : 360 CANNADY COURT
MORTGAGE AMT: 135,000.00 CITY : ATLANTA GA 30350
LIFETIME RATE : 6.62500
UNPAID BALANCE: 134,880.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 864.4236.98630 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080139918 MORTGAGORS: KRAFT, RICHARD
KRAFT, DIANE
ADDRESS : 675 PLANDOME ROAD
MORTGAGE AMT: 448,000.00 CITY : NORTH HEMPS NY 11030
LIFETIME RATE : 7.75000
UNPAID BALANCE: 447,683.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,209.5380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080139983 MORTGAGORS: ECKMAN, BRUCE
ECKMAN, SHELLY
ADDRESS : 10 HOLLY BRIAR ROAD
MORTGAGE AMT: 340,000.00 CITY : AQUINNAH MA 02535
LIFETIME RATE : 7.62500
UNPAID BALANCE: 340,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,406.5061.81818 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080140122 MORTGAGORS: NEWELL, MELVIN
NEWELL, GAYLE
ADDRESS : 2517 RED CEDAR DRIVE
MORTGAGE AMT: 328,000.00 CITY : BOWIE MD 20721
LIFETIME RATE : 7.50000
UNPAID BALANCE: 327,756.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,293.4379.03614 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080140361 MORTGAGORS: HANSEN, WILLIAM
ERNST, PATRICIA
ADDRESS : 10716 202ND STREET WEST
MORTGAGE AMT: 344,000.00 CITY : LAKEVILLE MN 55077
LIFETIME RATE : 7.00000
UNPAID BALANCE: 343,718.030 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,288.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080140486 MORTGAGORS: JAMES, JEFF
JAMES, ROSEMARY
ADDRESS : 5521 142ND AVENUE SE
MORTGAGE AMT: 430,000.00 CITY : BELLEVUE WA 98006
LIFETIME RATE : 6.75000
UNPAID BALANCE: 429,629.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,788.9754.08805 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080140569 MORTGAGORS: POLEY, BROOKS
POLEY, NANCY
ADDRESS : 15 MULBERRY ROAD
MORTGAGE AMT: 650,000.00 CITY : BLUFFTON SC 29910
LIFETIME RATE : 7.37500
UNPAID BALANCE: 649,505.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,489.3954.16667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141260 MORTGAGORS: CRIDER, RONALD
CRIDER, NOURIMAN
ADDRESS : 3195 POND MIST WAY
MORTGAGE AMT: 300,000.00 CITY : OAK HILL VA 20171
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,754.090 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9165.39367 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141294 MORTGAGORS: NGUYEN, THACH
ADDRESS : 1253 DUNN MEADOW COURT
MORTGAGE AMT: 300,000.00 CITY : VIENNA VA 22182
LIFETIME RATE : 7.62500
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.3958.20846 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141823 MORTGAGORS: LECKEMBY, GARRY
LECKEMBY, DIANE
ADDRESS : 860 APRIL HILL WAY
MORTGAGE AMT: 306,000.00 CITY : HARLEYSVILL PA 19438
LIFETIME RATE : 7.12500
UNPAID BALANCE: 306,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,061.5873.07463 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141831 MORTGAGORS: PHILLIPSON, JAMES
LAVELLE, MADELEINE
ADDRESS : 1687 MCKINLEY STREET
MORTGAGE AMT: 260,000.00 CITY : SAN MATEO CA 94403
LIFETIME RATE : 7.25000
UNPAID BALANCE: 259,593.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,773.6676.47059 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141872 MORTGAGORS: BERNARDO, DENNIS
ADDRESS : 3 HOLLY COURT
MORTGAGE AMT: 252,900.00 CITY : TUXEDO PARK NY 10987
LIFETIME RATE : 7.50000
UNPAID BALANCE: 252,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,768.3289.44470 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141880 MORTGAGORS: MCLELLAN, KATHRYN
REIDY, JOHN
ADDRESS : 685 EAST FIFTH STREET
MORTGAGE AMT: 270,750.00 CITY : SOUTH BOSTO MA 02127
LIFETIME RATE : 7.75000
UNPAID BALANCE: 270,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,939.6995.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141963 MORTGAGORS: MURRAY, PHILIP
MURRAY, MARY ALICE
ADDRESS : 3 SULLIVAN TERRACE
MORTGAGE AMT: 250,000.00 CITY : BARRINGTONRI 02806
LIFETIME RATE : 7.62500
UNPAID BALANCE: 249,819.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,769.4880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141971 MORTGAGORS: BARITZ, MARC
MILLER BARIT, FELICE
ADDRESS : 7 HEWITT AVENUE
MORTGAGE AMT: 344,000.00 CITY : WHITE PLAIN NY 10605
LIFETIME RATE : 7.87500
UNPAID BALANCE: 344,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,494.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080141989 MORTGAGORS: RICHARDSON, FREDERICK
RICHARDSON, GEORGIA
ADDRESS : 10828 CAMERON AVENUE
MORTGAGE AMT: 343,900.00 CITY : OAKLAND CA 94605
LIFETIME RATE : 7.25000
UNPAID BALANCE: 343,631.720 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,346.0179.99535 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142029 MORTGAGORS: BUCKLEY, THOMAS
ADDRESS : 4792 GRAND AVENUE
MORTGAGE AMT: 428,000.00 CITY : OJAI CA 93023
LIFETIME RATE : 7.87500
UNPAID BALANCE: 427,705.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,103.3080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142102 MORTGAGORS: PYLE,, HAROLD
PYLE, GAIL
ADDRESS : 4909 OAKCREST DRIVE
MORTGAGE AMT: 316,000.00 CITY : Fairfax VA 22030
LIFETIME RATE : 6.87500
UNPAID BALANCE: 315,734.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,075.9080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142144 MORTGAGORS: BAKER, PERRY
PERMAR, BARBARA
ADDRESS : 3304 WESSYNTON WAY
MORTGAGE AMT: 262,550.00 CITY : ALEXANDRIAVA 22309
LIFETIME RATE : 7.12500
UNPAID BALANCE: 262,340.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,768.8579.80243 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142235 MORTGAGORS: BROWNING, LAWRENCE
BROWNING, HENRIETTA
ADDRESS : 133 HAMILTON ROAD
MORTGAGE AMT: 351,000.00 CITY : RIDGEWOOD NJ 07450
LIFETIME RATE : 7.50000
UNPAID BALANCE: 350,693.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,454.2560.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142250 MORTGAGORS: VANDEN BOSSC, JACK
VANDEN BOSSC, KIM
ADDRESS : 14130 VAI BROTHERS DRIVE
MORTGAGE AMT: 282,800.00 CITY : RANCHO CUCA CA 91739
LIFETIME RATE : 7.25000
UNPAID BALANCE: 282,800.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.1994.93118 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142276 MORTGAGORS: BORIACK SJOD, PAULA
SJODIN, THEODORE
ADDRESS : 46 FLORENCE ROAD
MORTGAGE AMT: 247,500.00 CITY : WALTHAM MA 02453
LIFETIME RATE : 7.50000
UNPAID BALANCE: 247,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,730.5689.18919 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142383 MORTGAGORS: CHAIJAROEN, VONGSANT
CHAIJAROEN, ORN
ADDRESS : 304XX 28TH AVENUE
MORTGAGE AMT: 293,750.00 CITY : FEDERAL WAY WA 98023
LIFETIME RATE : 7.62500
UNPAID BALANCE: 292,999.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,079.1475.93854 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142458 MORTGAGORS: WHITE, GARY
ADDRESS : 561 DURHAM DRIVE
MORTGAGE AMT: 285,000.00 CITY : BIRMINGHAMAL 35209
LIFETIME RATE : 7.25000
UNPAID BALANCE: 285,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,944.2174.80315 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142540 MORTGAGORS: SCHOENFELD, MARC
SCHOENFELD, LYDIA
ADDRESS : 112 GOLF EDGE
MORTGAGE AMT: 650,000.00 CITY : WESTFIELD NJ 07890
LIFETIME RATE : 8.25000
UNPAID BALANCE: 649,585.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,883.2472.62570 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142565 MORTGAGORS: QUINN, KEVIN
QUINN, JUDITH
ADDRESS : 5 CRESTVIEW LANE
MORTGAGE AMT: 270,000.00 CITY : SPARTA NJ 07871
LIFETIME RATE : 6.87500
UNPAID BALANCE: 270,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,773.7166.33907 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080142805 MORTGAGORS: WOOD, BRET
WOOD, MARLEEN
ADDRESS : 37 OLD PLANTERS ROAD
MORTGAGE AMT: 272,000.00 CITY : BEVERLY MA 01915
LIFETIME RATE : 6.87500
UNPAID BALANCE: 272,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,786.8532.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080143381 MORTGAGORS: TAYLOR, MICHAEL
MATTEI TAYLO, CHERYL
ADDRESS : 5085 TIDEWATER WAY
MORTGAGE AMT: 260,700.00 CITY : ALPHARETTAGA 30005
LIFETIME RATE : 7.62500
UNPAID BALANCE: 260,700.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,845.2288.07432 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080143647 MORTGAGORS: DOUGLASS, ALEC
DOUGLASS, DENISE
ADDRESS : 6427 RUBY WAY
MORTGAGE AMT: 273,500.00 CITY : CARLSBAD CA 92009
LIFETIME RATE : 7.62500
UNPAID BALANCE: 273,302.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,935.8279.85401 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080144298 MORTGAGORS: CARINI, CLAUDIO
FRATAZZI, CANDIDA
ADDRESS : 95 ELIOT STREET
MORTGAGE AMT: 500,000.00 CITY : NATICK MA 01760
LIFETIME RATE : 7.50000
UNPAID BALANCE: 499,628.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,496.0870.42254 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080144348 MORTGAGORS: ANDERSON, DAVID
ANDERSON, SUSAN
ADDRESS : 9838 CAMINITO LASWANE
MORTGAGE AMT: 320,000.00 CITY : SAN DIEGO CA 92131
LIFETIME RATE : 7.50000
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4968.08511 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080144850 MORTGAGORS: KOZAK, CATHERINE
CASPER, PAULINE
ADDRESS : 3745 CEFALU DRIVE
MORTGAGE AMT: 250,250.00 CITY : SAN JOSE CA 95124
LIFETIME RATE : 7.12500
UNPAID BALANCE: 250,049.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,685.9870.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145030 MORTGAGORS: KANOAS, WAYNE
KANDAS, KAY
ADDRESS : LOT 29 ROBIN COURT
MORTGAGE AMT: 382,000.00 CITY : Gilbert AZ 85296
LIFETIME RATE : 7.50000
UNPAID BALANCE: 381,716.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,671.0076.40000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145188 MORTGAGORS: THOMPSON, HEATHER
THOMPSON, RANDALL
ADDRESS : 375 HOLMES DRIVE NW
MORTGAGE AMT: 208,000.00 CITY : VIENNA VA 22180
LIFETIME RATE : 7.12500
UNPAID BALANCE: 207,833.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,401.3480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145204 MORTGAGORS: ROE, ARNOLD
ROE, KIKI
ADDRESS : 1362 HYMETTUS
MORTGAGE AMT: 348,000.00 CITY : ENCINITAS CA 92024
LIFETIME RATE : 7.25000
UNPAID BALANCE: 347,728.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,373.9780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145246 MORTGAGORS: BARTLETT, DANIEL
BARTLETT, STEPHANIE
ADDRESS : 10993 SE RIM ROCK DRIVE
MORTGAGE AMT: 266,000.00 CITY : PORTLAND OR 97236
LIFETIME RATE : 7.50000
UNPAID BALANCE: 266,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,859.9190.78498 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145279 MORTGAGORS: DANIELS, DAN
DANIELS, JO
ADDRESS : 5109 NORTH MEADOW RIDGE C
MORTGAGE AMT: 252,650.00 CITY : MCKINNEY TX 75070
LIFETIME RATE : 8.00000
UNPAID BALANCE: 252,480.470 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,853.8668.28378 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145303 MORTGAGORS: HIRSH, SAMUEL
HIRSH, ANNA
ADDRESS : 1150 TIMBERGATE DRIVE
MORTGAGE AMT: 567,400.00 CITY : RYDAL PA 19046
LIFETIME RATE : 7.00000
UNPAID BALANCE: 566,934.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,774.9379.98996 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145329 MORTGAGORS: THATCHER, JAMES
THATCHER, CYNTHIA
ADDRESS : 9672 ENDSLEIGH CT
MORTGAGE AMT: 375,000.00 CITY : GRANITE BAY CA 95746
LIFETIME RATE : 7.12500
UNPAID BALANCE: 374,599.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,526.4471.15750 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080145337 MORTGAGORS: KING, EARL
KING, MARCIA
ADDRESS : 7 LINDY LANE
MORTGAGE AMT: 308,750.00 CITY : COLTS NECKNJ 07722
LIFETIME RATE : 7.62500
UNPAID BALANCE: 308,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,185.3295.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080146129 MORTGAGORS: BLUM, ANDREW
SEGAL, AMY
ADDRESS : 83 ALLERTON ROAD
MORTGAGE AMT: 412,000.00 CITY : NEWTON MA 02459
LIFETIME RATE : 7.75000
UNPAID BALANCE: 411,709.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,951.6270.54795 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080146962 MORTGAGORS: WEEKS, WILLIAM
CHEAH, YEE
ADDRESS : 51 PLYMOUTH ROAD
MORTGAGE AMT: 319,500.00 CITY : NEEDHAM MA 02192
LIFETIME RATE : 7.50000
UNPAID BALANCE: 319,262.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,233.9990.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080146988 MORTGAGORS: WROBLEWSKI, JUNE
ADDRESS : 3219 BLACKHAWK MEADOW DR
MORTGAGE AMT: 350,000.00 CITY : DANVILLE CA 94506
LIFETIME RATE : 7.37500
UNPAID BALANCE: 349,733.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,417.3656.45161 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080147184 MORTGAGORS: SMITH, BRADLEY
SMITH, SONYA
ADDRESS : 13706 PEGASUS RD
MORTGAGE AMT: 254,400.00 CITY : CYPRESS TX 77429
LIFETIME RATE : 6.87500
UNPAID BALANCE: 253,099.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,671.2380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 02/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080147341 MORTGAGORS: KATKOV, RICHARD
MULDER, MIRIAM
ADDRESS : 2431 22ND STREET
MORTGAGE AMT: 375,200.00 CITY : SANTA MONIC CA 90405
LIFETIME RATE : 7.25000
UNPAID BALANCE: 374,907.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,559.5380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080147978 MORTGAGORS: HEFFLEY, ROBERT
HEFFLEY, BARBARA
ADDRESS : 1578 RUBY COURT
MORTGAGE AMT: 396,900.00 CITY : DIAMOND BAR CA 91765
LIFETIME RATE : 7.50000
UNPAID BALANCE: 396,605.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,775.1879.99194 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080148059 MORTGAGORS: BECKERMAN, MICHAEL
BECKERMAN, KAREN
ADDRESS : 145 SANTA CLARA AVENUE
MORTGAGE AMT: 704,000.00 CITY : SAN FRANCIS CA 94127
LIFETIME RATE : 7.62500
UNPAID BALANCE: 703,490.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,982.8780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 103 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080148661 MORTGAGORS: DOWDY, DEVVAN
ADDRESS : 27 JEAN LANE
MORTGAGE AMT: 261,250.00 CITY : CHESTNUT RI NY 10977
LIFETIME RATE : 8.12500
UNPAID BALANCE: 260,733.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,939.7795.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080148760 MORTGAGORS: NACCARATO, N
NACCARATO, PAMELA
ADDRESS : 3337 HARBOURS BLVD
MORTGAGE AMT: 265,000.00 CITY : WATERFORD T MI 48328
LIFETIME RATE : 7.37500
UNPAID BALANCE: 264,595.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,830.2976.81159 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080149339 MORTGAGORS: MC CALLUM, PATRICIA
MC CALLUM, MARY
ADDRESS : 231 ATHERTON STREET
MORTGAGE AMT: 400,000.00 CITY : MILTON MA 02186
LIFETIME RATE : 7.50000
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,796.8666.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080149537 MORTGAGORS: PECK, JEFFREY
PECK, KAREN
ADDRESS : 43885 FRUGALITY COURT
MORTGAGE AMT: 276,000.00 CITY : ASHBURN VA 20147
LIFETIME RATE : 7.25000
UNPAID BALANCE: 275,784.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,882.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080149958 MORTGAGORS: AALBUE, FREDERICK
AALBUE, LAURIE
ADDRESS : 1219 GREENWOOD DRIVE
MORTGAGE AMT: 249,600.00 CITY : WHEATON IL 60187
LIFETIME RATE : 7.50000
UNPAID BALANCE: 249,414.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,745.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080150402 MORTGAGORS: TURNER, ERIC
FISCHER, ELIZABETH
ADDRESS : 4695 PAULING AVENUE
MORTGAGE AMT: 286,200.00 CITY : SAN DIEGO CA 92122
LIFETIME RATE : 7.87500
UNPAID BALANCE: 286,003.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,075.1590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080150410 MORTGAGORS: RICHARDSON, DEBORAH
RICHARDSON, GARY
ADDRESS : 6409 GALWAY DRIVE
MORTGAGE AMT: 238,450.00 CITY : CLARKSVILLE MD 21029
LIFETIME RATE : 7.37500
UNPAID BALANCE: 238,268.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,646.9279.98994 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080150428 MORTGAGORS: PLATTES, DAVID
COOK, SHELLEY
ADDRESS : HC 83 BOX 1015
MORTGAGE AMT: 304,000.00 CITY : PEQUOT LAKE MN 56472
LIFETIME RATE : 6.87500
UNPAID BALANCE: 303,487.750 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,997.0675.06173 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080150584 MORTGAGORS: LEE, GREGORY
ADDRESS : 912 CONCORD COURT
MORTGAGE AMT: 175,500.00 CITY : VISTA CA 92083
LIFETIME RATE : 8.00000
UNPAID BALANCE: 175,382.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,287.7694.86486 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080150816 MORTGAGORS: QUINN, EDWARD
QUINN, SHERRY
ADDRESS : 1704 CATTAIL MEADOWS DRIV
MORTGAGE AMT: 265,950.00 CITY : WOODBINE MD 21797
LIFETIME RATE : 7.37500
UNPAID BALANCE: 265,544.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,836.8679.98809 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080151103 MORTGAGORS: WARREN, KRISTEN
WARREN, DEAN
ADDRESS : 254 S FAIRCHILD LANE
MORTGAGE AMT: 279,000.00 CITY : ORANGE CA 92869
LIFETIME RATE : 7.62500
UNPAID BALANCE: 278,798.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,974.7594.99974 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080151483 MORTGAGORS: ZAMORA, JOHN
ZAMORA, TIFFANY
ADDRESS : 1310 HORN CT
MORTGAGE AMT: 260,050.00 CITY : BRENTWOOD CA 94513
LIFETIME RATE : 7.37500
UNPAID BALANCE: 259,561.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,796.1176.71091 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080151590 MORTGAGORS: CACCAVALE, JOHN
LIOTTI CACCA, ELENA
ADDRESS : 311 HAWTHORNE PLACE
MORTGAGE AMT: 342,900.00 CITY : LAWERENCE T NJ 08648
LIFETIME RATE : 7.50000
UNPAID BALANCE: 342,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,397.6179.98619 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080151970 MORTGAGORS: LEWICKI, STEFAN
LEWICKI, HANNA
ADDRESS : 12 BUTTERNUT LANE
MORTGAGE AMT: 260,000.00 CITY : STAMFORD CT 06903
LIFETIME RATE : 7.50000
UNPAID BALANCE: 259,807.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,817.9680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080152143 MORTGAGORS: KOSS, STEVEN
KOSS, MELISSA
ADDRESS : 4770 LONESOME DOVE DRIVE
MORTGAGE AMT: 287,500.00 CITY : SHINGLE SPR CA 95682
LIFETIME RATE : 7.00000
UNPAID BALANCE: 286,065.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,912.7478.23129 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 02/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080155807 MORTGAGORS: RYAN, DENIS
RYAN, GLORIA
ADDRESS : 28061 VIA DE COSTA
MORTGAGE AMT: 286,000.00 CITY : SAN JUAN CA CA 92675
LIFETIME RATE : 7.12500
UNPAID BALANCE: 286,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,926.8374.09326 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080155856 MORTGAGORS: MEYER, CARL
MEYER, JOANNE
ADDRESS : 6041 WOODLAKE LANE
MORTGAGE AMT: 284,000.00 CITY : ALEXANDRIAVA 22315
LIFETIME RATE : 7.50000
UNPAID BALANCE: 283,789.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,985.7780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080156722 MORTGAGORS: KOHN, ARTHUR
ADDRESS : 3625 WEST GLENLAKE
MORTGAGE AMT: 297,500.00 CITY : CHICAGO IL 60659
LIFETIME RATE : 7.87500
UNPAID BALANCE: 297,295.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,157.0870.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080157019 MORTGAGORS: BLYTHE, RICHARD
BLYTHE, RHONDA
ADDRESS : 2762 DERBY DRIVE
MORTGAGE AMT: 299,900.00 CITY : SAN RAMON CA 94583
LIFETIME RATE : 7.50000
UNPAID BALANCE: 299,453.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,096.9494.90506 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080157159 MORTGAGORS: TUPIN, JOE
TUPIN, DEBORAH
ADDRESS : 1759 HEKPA DRIVE
MORTGAGE AMT: 420,000.00 CITY : SOUTH LAKECA 96150
LIFETIME RATE : 7.62500
UNPAID BALANCE: 419,696.020 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,972.7380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080157258 MORTGAGORS: GROLEAU, THOMAS
GROLEAU, CHRISTINE
ADDRESS : 30 OAKWOOD DRIVE
MORTGAGE AMT: 320,000.00 CITY : PORTSMOUTHNH 03810
LIFETIME RATE : 7.50000
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080157365 MORTGAGORS: HOLT, TOM
HOLT, AMY
ADDRESS : 1412 WEST CUYLER AVENUE
MORTGAGE AMT: 300,000.00 CITY : CHICAGO IL 60613
LIFETIME RATE : 7.62500
UNPAID BALANCE: 299,782.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.3892.30769 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080157399 MORTGAGORS: RAIMONDI, JOHN
ADDRESS : 15 WEST 53RD STREET
MORTGAGE AMT: 500,000.00 CITY : NEW YORK NY 10019
LIFETIME RATE : 8.37500
UNPAID BALANCE: 500,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,800.3679.36508 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080158371 MORTGAGORS: STANVICK, STEPHEN
STANVICK, CHRIS
ADDRESS : 7 LOON WAY
MORTGAGE AMT: 300,000.00 CITY : WESTFORD MA 01886
LIFETIME RATE : 7.25000
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,046.5366.29439 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080159171 MORTGAGORS: COLEMAN, JAMES
COLEMAN, ELIZABETH
ADDRESS : 3583 HEDRICK STREET
MORTGAGE AMT: 301,600.00 CITY : JACKSONVILL FL 32205
LIFETIME RATE : 7.87500
UNPAID BALANCE: 301,392.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,186.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080159288 MORTGAGORS: SEJVAR, MARK
WHITE, ANNE
ADDRESS : 4075 LOS NIETOS DRIVE
MORTGAGE AMT: 364,000.00 CITY : LOS ANGELES CA 90027
LIFETIME RATE : 7.62500
UNPAID BALANCE: 363,736.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,576.3780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080159312 MORTGAGORS: MORALES, FROILAN
MORALES, MARIFE
ADDRESS : 3 HIDDEN WOODS CT
MORTGAGE AMT: 270,000.00 CITY : BROOKHAVENNY 11780
LIFETIME RATE : 7.87500
UNPAID BALANCE: 269,814.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.6990.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080159593 MORTGAGORS: SULLIVAN, DAVID
SULLIVAN, MICHELLE
ADDRESS : 4603 N. 144TH AVENUE
MORTGAGE AMT: 103,100.00 CITY : Omaha NE 68116
LIFETIME RATE : 7.87500
UNPAID BALANCE: 103,016.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 747.5579.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080159874 MORTGAGORS: SAMBAR, TOD
SAMBAR, STACIA
ADDRESS : 973 PIONEER ROAD
MORTGAGE AMT: 400,000.00 CITY : PEBBLE BEAC CA 93953
LIFETIME RATE : 7.25000
UNPAID BALANCE: 399,687.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,728.7161.53846 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080160237 MORTGAGORS: WARREN, ELISE
WARREN, LESLIE
ADDRESS : 55 BISHOP LANE
MORTGAGE AMT: 292,000.00 CITY : WALNUT CREEK CA 94596
LIFETIME RATE : 7.62500
UNPAID BALANCE: 292,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,374.7080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080160393 MORTGAGORS: JABIN, MARK
ADDRESS : 1110 YORKSHIRE DRIVE
MORTGAGE AMT: 136,500.00 CITY : CARROLLTONTX 75007
LIFETIME RATE : 7.75000
UNPAID BALANCE: 136,403.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 977.9170.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080161458 MORTGAGORS: PITTNER, RICHARD
CRABTREE, PENNI
ADDRESS : 3535 -3541 1/2 SIXTH AVEN
MORTGAGE AMT: 370,400.00 CITY : SAN DIEGO CA 92103
LIFETIME RATE : 7.37500
UNPAID BALANCE: 370,118.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,558.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080161805 MORTGAGORS: CHESLER, CHARLES
ADDRESS : 22 POWER HORN ROAD
MORTGAGE AMT: 272,000.00 CITY : NORWALK CT 06850
LIFETIME RATE : 7.62500
UNPAID BALANCE: 271,803.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,925.2080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080162530 MORTGAGORS: VANDER-ZEE, RICHARD
VANDER-ZEE, KATHY
ADDRESS : 4712 CIMMARON TR
MORTGAGE AMT: 162,000.00 CITY : Granbury TX 76049
LIFETIME RATE : 8.12500
UNPAID BALANCE: 161,894.030 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,202.8579.02000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080162555 MORTGAGORS: WALKER, WILLIAM
WALKER, MARA
ADDRESS : 56-58 Washington Street
MORTGAGE AMT: 275,000.00 CITY : NEWTON MA 02458
LIFETIME RATE : 7.87500
UNPAID BALANCE: 275,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,278.8747.82609 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080162704 MORTGAGORS: BLACKWELL, TODD
BLACKWELL, LINDA
ADDRESS : 3434 HAZELNUT COURT
MORTGAGE AMT: 335,300.00 CITY : SIMI VALLEY CA 93065
LIFETIME RATE : 7.50000
UNPAID BALANCE: 334,933.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,344.4779.97882 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080163223 MORTGAGORS: FLEMING, ROBERT
KUSHNER, CHERIE
ADDRESS : 5950 LUCAS VALLEY ROAD
MORTGAGE AMT: 496,000.00 CITY : NICASIO CA 94946
LIFETIME RATE : 7.37500
UNPAID BALANCE: 495,622.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,425.7559.04762 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080163462 MORTGAGORS: NUNN, WILLIAM
MARKS, LISA
ADDRESS : 1418 1420 SPRUCE STREET
MORTGAGE AMT: 500,000.00 CITY : BERKELEY CA 94709
LIFETIME RATE : 7.75000
UNPAID BALANCE: 499,647.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,582.0669.15629 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080163561 MORTGAGORS: PIRONE, JOSEPH
PIRONE, DOROTHY
ADDRESS : 9 LEDGEWOOD WAY
MORTGAGE AMT: 75,000.00 CITY : PEABODY MA 01960
LIFETIME RATE : 8.12500
UNPAID BALANCE: 74,950.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 556.8748.07692 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080164270 MORTGAGORS: NAUSE, JEFFREY
NAUSE, ELAINE
ADDRESS : 110 BAKERFIELD DRIVE
MORTGAGE AMT: 279,550.00 CITY : MIDDLETOWNDE 19709
LIFETIME RATE : 7.50000
UNPAID BALANCE: 279,317.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,954.6594.99413 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080164882 MORTGAGORS: BERTSEKAS, TELIS
BERTSEKAS, WENDY
ADDRESS : 16 BROAD STREET
MORTGAGE AMT: 478,350.00 CITY : BELMONT MA 02478
LIFETIME RATE : 7.87500
UNPAID BALANCE: 478,350.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,468.3790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080165103 MORTGAGORS: EDWARDS, MICHAEL
EDWARDS, JOYCE
ADDRESS : 2512 RED CEDAR DRIVE
MORTGAGE AMT: 384,000.00 CITY : MITCHELLVIL MD 20721
LIFETIME RATE : 6.62500
UNPAID BALANCE: 384,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,458.8080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080165418 MORTGAGORS: HO, WAI
LARDEN HO, DEBORAH
ADDRESS : 498 FONICK DRIVE
MORTGAGE AMT: 279,000.00 CITY : SAN JOSE CA 95111
LIFETIME RATE : 7.87500
UNPAID BALANCE: 278,807.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,022.9590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080165491 MORTGAGORS: MAXSON, JOHN
MAXSON, KELLI
ADDRESS : 1094 MANNING DRIVE
MORTGAGE AMT: 300,000.00 CITY : EL DORADO H CA 95762
LIFETIME RATE : 7.62500
UNPAID BALANCE: 299,782.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.3874.07407 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080165525 MORTGAGORS: HENDERSON, LINDA
ADDRESS : 1531 DIAMOND COURT
MORTGAGE AMT: 470,000.00 CITY : DIAMOND BAR CA 91765
LIFETIME RATE : 7.50000
UNPAID BALANCE: 470,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,286.3179.25066 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080166259 MORTGAGORS: WOOD, JAMES
VALENZUELA, LORENA
ADDRESS : 2614 BRUNSTON CT
MORTGAGE AMT: 297,800.00 CITY : ROUND ROCKTX 78681
LIFETIME RATE : 7.25000
UNPAID BALANCE: 297,098.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,031.5289.16168 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080166465 MORTGAGORS: IANNAZZI, PHILLIP
IANNAZZI, ANNAMARIE
ADDRESS : 9 ROCK HILL PLACE
MORTGAGE AMT: 250,000.00 CITY : METHUEN MA 01844
LIFETIME RATE : 6.87500
UNPAID BALANCE: 249,366.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,642.3279.36508 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080166689 MORTGAGORS: MEINTZER, R
MEINTZER, RENEE
ADDRESS : 1068 LAUREL FIG DRIVE
MORTGAGE AMT: 298,900.00 CITY : SIMI VALLEY CA 93063
LIFETIME RATE : 7.00000
UNPAID BALANCE: 298,160.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,988.5984.99180 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080166788 MORTGAGORS: ATTIGA, SALEM
ATTIGA, AIDA
ADDRESS : 421 SILVER HOLLOW DRIVE
MORTGAGE AMT: 535,200.00 CITY : WALNUT CREE CA 94598
LIFETIME RATE : 7.25000
UNPAID BALANCE: 533,514.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,651.0180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167091 MORTGAGORS: HUGHES, MICHAEL
WARBEY, ROBIN
ADDRESS : 1656 JUDSON STREET
MORTGAGE AMT: 106,400.00 CITY : SEASIDE CA 93955
LIFETIME RATE : 6.87500
UNPAID BALANCE: 106,220.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 698.9780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167109 MORTGAGORS: KING, STEPHEN
KING, DOLORES
ADDRESS : 3189 VISTA DEL CAMINO
MORTGAGE AMT: 176,800.00 CITY : MARINA CA 93933
LIFETIME RATE : 7.25000
UNPAID BALANCE: 176,523.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,206.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167307 MORTGAGORS: MONTALVO, JESSE
MONTALVO, ANNE
ADDRESS : 785 CEDAR STREET
MORTGAGE AMT: 367,200.00 CITY : SAN CARLOSCA 94070
LIFETIME RATE : 7.87500
UNPAID BALANCE: 366,947.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,662.4580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167364 MORTGAGORS: KENDALL, CHARLES
KENDALL, MARY
ADDRESS : 5607 WEST CACTUS ROAD
MORTGAGE AMT: 290,000.00 CITY : GLENDALE AZ 85304
LIFETIME RATE : 7.37500
UNPAID BALANCE: 289,779.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,002.9664.44444 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167943 MORTGAGORS: TO, JACKLYN
ADDRESS : 9527 CORTADA
MORTGAGE AMT: 99,000.00 CITY : EL MONTE CA 91733
LIFETIME RATE : 7.75000
UNPAID BALANCE: 98,930.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 709.2569.71831 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080167984 MORTGAGORS: MENDOZA, MANUEL
MENDOZA, IGNACIA
ADDRESS : 13502 OAKS AVENUE
MORTGAGE AMT: 98,550.00 CITY : CHINO CA 91710
LIFETIME RATE : 7.75000
UNPAID BALANCE: 98,480.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 706.0261.98113 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168149 MORTGAGORS: TSE, CHI
TSE, LAI
ADDRESS : 1355 35TH AVENUE
MORTGAGE AMT: 315,000.00 CITY : SAN FRANCIS CA 94122
LIFETIME RATE : 7.25000
UNPAID BALANCE: 314,507.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,148.8675.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168339 MORTGAGORS: CANNELLA, KERRY
CHAU, WING
ADDRESS : 421 NEWBURGH CT
MORTGAGE AMT: 438,700.00 CITY : WEST NEW YO NJ 07093
LIFETIME RATE : 8.00000
UNPAID BALANCE: 438,405.640 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,219.0379.99519 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168420 MORTGAGORS: SCHAAL, STEPHEN
SCHAAL, BARBARA
ADDRESS : 2181 WALTHAM RD
MORTGAGE AMT: 470,000.00 CITY : COLUMBUS OH 43221
LIFETIME RATE : 7.25000
UNPAID BALANCE: 469,633.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,206.2359.64467 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168461 MORTGAGORS: MC VEY, ROBERT
MC VEY, VICTORIA
ADDRESS : 6252 KINGFISHER LANE
MORTGAGE AMT: 357,800.00 CITY : ALEXANDRIAVA 22312
LIFETIME RATE : 7.00000
UNPAID BALANCE: 357,506.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,380.4679.99106 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168511 MORTGAGORS: PATHAK, PRABODH
PATHAK, POONAM
ADDRESS : 5832 BROADWELL DRIVE
MORTGAGE AMT: 282,275.00 CITY : PLANO TX 75093
LIFETIME RATE : 7.62500
UNPAID BALANCE: 282,275.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,295.6133.60417 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 105 08/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080168909 MORTGAGORS: GEIMAN, SEMEN
DUBOVA, NATALIA
ADDRESS : 50 FIELDSTONE TERRACE
MORTGAGE AMT: 408,000.00 CITY : STAMFORD CT 06902
LIFETIME RATE : 7.87500
UNPAID BALANCE: 408,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,958.2880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080170251 MORTGAGORS: BYRNES, PAMELA
JACOBSEN, RICHARD
ADDRESS : 50 SOUTH WASHINGTON AVENU
MORTGAGE AMT: 277,000.00 CITY : NIANTIC CT 06357
LIFETIME RATE : 7.00000
UNPAID BALANCE: 277,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,842.8975.89041 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080170319 MORTGAGORS: SITZENSTATTE, ERIC
SITZENSTATTE, JILL
ADDRESS : 17333 OLD RANCH ROAD
MORTGAGE AMT: 340,000.00 CITY : LOS GATOS CA 95033
LIFETIME RATE : 7.50000
UNPAID BALANCE: 339,747.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,377.3380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080170384 MORTGAGORS: GRIGGS, DEAN
GRIGGS, BARBARA
ADDRESS : 275 EL CAMINITO ROAD
MORTGAGE AMT: 490,000.00 CITY : CARMEL VALL CA 93924
LIFETIME RATE : 7.50000
UNPAID BALANCE: 489,636.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,426.1570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080170665 MORTGAGORS: BAER, MICHAEL
BAER, LORI
ADDRESS : 8956 SOUTH YAHOOSKIN DRIV
MORTGAGE AMT: 301,500.00 CITY : POWELL BUTT OR 97753
LIFETIME RATE : 7.25000
UNPAID BALANCE: 300,790.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,056.7690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080170780 MORTGAGORS: SHEN, JIE
KELLEHER, RAYMOND
ADDRESS : 319 MARLBOROUGH STREET
MORTGAGE AMT: 370,400.00 CITY : BOSTON MA 02116
LIFETIME RATE : 8.37500
UNPAID BALANCE: 370,169.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,815.3180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080171010 MORTGAGORS: O'GORMAN, RONAN
O'GORMAN, ALEXANDRA
ADDRESS : 737 EUREKA AVENUE
MORTGAGE AMT: 278,000.00 CITY : DAVIS CA 95616
LIFETIME RATE : 7.00000
UNPAID BALANCE: 277,089.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,849.5576.16438 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080171606 MORTGAGORS: OLIVEIRA, MICHAEL
OLIVEIRA, PAULA
ADDRESS : 19 PECAN VALLEY DRIVE
MORTGAGE AMT: 325,000.00 CITY : NEW CITY NY 10956
LIFETIME RATE : 7.37500
UNPAID BALANCE: 325,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,244.7072.22222 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080171903 MORTGAGORS: IANNIELLO, BRIAN
IANNIELLO, NANCY
ADDRESS : 610 CATESBY COURT SW
MORTGAGE AMT: 343,900.00 CITY : LEESBURG VA 20171
LIFETIME RATE : 7.50000
UNPAID BALANCE: 343,644.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,404.6079.99535 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172182 MORTGAGORS: WALSH LUND, CAROL
LUND, DANIEL
ADDRESS : 1105 OLD COUNTY ROAD
MORTGAGE AMT: 320,000.00 CITY : SEVERNA PAR MD 21146
LIFETIME RATE : 7.50000
UNPAID BALANCE: 319,762.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4978.04878 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172208 MORTGAGORS: CLEMENS, MICHAEL
CLEMENS, CHRISTY
ADDRESS : 9012 MCCOY AVENUE
MORTGAGE AMT: 340,000.00 CITY : SACRAMENTOCA 95829
LIFETIME RATE : 7.62500
UNPAID BALANCE: 339,753.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,406.5080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172521 MORTGAGORS: LEAMER, DUANE
LEAMER, CHERYL
ADDRESS : 8003 164TH STREET SE
MORTGAGE AMT: 262,500.00 CITY : SNOHOMISH WA 98296
LIFETIME RATE : 7.75000
UNPAID BALANCE: 262,314.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,880.5875.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172562 MORTGAGORS: IPOCK, LESLIE
IPOCK, BETTY
ADDRESS : Q1 WESTPORT IV
MORTGAGE AMT: 276,000.00 CITY : PINE KNOLLNC 28512
LIFETIME RATE : 7.50000
UNPAID BALANCE: 275,795.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.8480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172653 MORTGAGORS: HIGGINBOTHAM, COLE
HIGGINBOTHAM, SONYA
ADDRESS : 11 MYRTLE LANDING
MORTGAGE AMT: 295,000.00 CITY : HATTIESBURG MS 39402
LIFETIME RATE : 7.50000
UNPAID BALANCE: 294,781.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,062.6877.63158 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172836 MORTGAGORS: COLLINS, MICHAEL
GRANO, MARGARET
ADDRESS : 340 SOUTH SPRING AVENUE
MORTGAGE AMT: 360,000.00 CITY : LAGRANGE IL 60525
LIFETIME RATE : 8.00000
UNPAID BALANCE: 360,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,641.5580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080172893 MORTGAGORS: FARRAR, JON
FARRAR, NINA
ADDRESS : 10572 SOUTH ORANGE PARK
MORTGAGE AMT: 388,000.00 CITY : ORANGE CA 92869
LIFETIME RATE : 6.75000
UNPAID BALANCE: 387,330.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,516.5680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080173412 MORTGAGORS: UDELL, RYAN
UDELL, REBECCA
ADDRESS : 310 WYNCOTE ROAD
MORTGAGE AMT: 171,200.00 CITY : JENKINTOWNPA 19046
LIFETIME RATE : 7.50000
UNPAID BALANCE: 171,072.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,197.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080174451 MORTGAGORS: WILKINS, KLINE
WILKINS, GAIL
ADDRESS : 4637 TONYAWATHA TRAIL
MORTGAGE AMT: 280,000.00 CITY : MONONA WI 53716
LIFETIME RATE : 7.12500
UNPAID BALANCE: 279,550.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,886.4280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080174881 MORTGAGORS: STONE, SARAH
ADDRESS : 21 W DELRAY AVE
MORTGAGE AMT: 255,200.00 CITY : ALEXANDRIAVA 22301
LIFETIME RATE : 7.25000
UNPAID BALANCE: 255,000.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,740.9280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176266 MORTGAGORS: CHAVEZ, ROBERT
FREW CHAVEZ, ELISA
ADDRESS : 3460 ORWOOD ROAD
MORTGAGE AMT: 356,250.00 CITY : BRENTWOOD CA 94513
LIFETIME RATE : 7.62500
UNPAID BALANCE: 355,732.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,521.5275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176308 MORTGAGORS: ANTHONY, BRUCE
ANTHONY, DAWN
ADDRESS : 13904 NW 52ND AVENUE
MORTGAGE AMT: 262,400.00 CITY : VANCOUVER WA 98685
LIFETIME RATE : 7.25000
UNPAID BALANCE: 262,195.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,790.0380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176373 MORTGAGORS: SELLGE, HANS
HARDIN, PJ
ADDRESS : 203 MORESBY LANE
MORTGAGE AMT: 337,000.00 CITY : REDWOOD CIT CA 94063
LIFETIME RATE : 6.62500
UNPAID BALANCE: 336,403.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,157.8579.06993 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176571 MORTGAGORS: MCGUINN, JAMES
HORNE, LESLEY
ADDRESS : 1125 BROCKMAN DRIVE
MORTGAGE AMT: 375,000.00 CITY : SONOMA CA 95476
LIFETIME RATE : 7.37500
UNPAID BALANCE: 374,714.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,590.0462.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176746 MORTGAGORS: NICOSIA, MONICA
ECKSTEIN, RICK
ADDRESS : 334 STRATHMORE DRIVE
MORTGAGE AMT: 300,000.00 CITY : BRYN MAWR PA 19010
LIFETIME RATE : 7.37500
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176787 MORTGAGORS: CUI, HONG
LI, OU
ADDRESS : 10 BEDFORD DRIVE
MORTGAGE AMT: 365,950.00 CITY : BASKING RID NJ 07920
LIFETIME RATE : 7.87500
UNPAID BALANCE: 365,698.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,653.4079.98995 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080176837 MORTGAGORS: GRAHAM, GREGORY
GRAHAM, KELLY
ADDRESS : 1391 HOFFMAN DRIVE
MORTGAGE AMT: 277,000.00 CITY : ERIE CO 80516
LIFETIME RATE : 8.62500
UNPAID BALANCE: 276,836.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,154.4894.79808 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080177389 MORTGAGORS: MODI, SOHRAB
ADDRESS : 1714 TRESTLE GLEN ROAD
MORTGAGE AMT: 444,800.00 CITY : OAKLAND CA 94610
LIFETIME RATE : 7.62500
UNPAID BALANCE: 444,478.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,148.2780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080177579 MORTGAGORS: WARD, CHERYL
WARD, STEPHEN
ADDRESS : 120 WOODSMOKE WAY
MORTGAGE AMT: 354,000.00 CITY : FOLSOM CA 95630
LIFETIME RATE : 7.75000
UNPAID BALANCE: 354,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,536.1080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080177611 MORTGAGORS: POLSDORF, THOMAS
POLSDORF, AVE
ADDRESS : 12893 VIA CABALLA ROJO
MORTGAGE AMT: 272,000.00 CITY : SAN DIEGO CA 92129
LIFETIME RATE : 7.50000
UNPAID BALANCE: 271,798.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,901.8680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080177900 MORTGAGORS: HANSEN, BRETT
HANSEN, KIM
ADDRESS : 17027 NORTHEAST 190TH ST
MORTGAGE AMT: 287,200.00 CITY : WOODINVILLE WA 98072
LIFETIME RATE : 7.87500
UNPAID BALANCE: 287,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,082.4079.33702 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080177983 MORTGAGORS: SORIANO, BERNARD
SORIANO, BONNIE
ADDRESS : 4127 PUENTE WAY
MORTGAGE AMT: 340,000.00 CITY : SACRAMENTOCA 95864
LIFETIME RATE : 7.37500
UNPAID BALANCE: 340,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,348.3073.11828 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080178338 MORTGAGORS: SPURR, DOUGLAS
ADDRESS : 50 BROWN VALLEY ROAD
MORTGAGE AMT: 484,000.00 CITY : CORRALITOSCA 95076
LIFETIME RATE : 7.75000
UNPAID BALANCE: 483,658.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,467.4488.16029 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080178460 MORTGAGORS: BLOOMQUIST, JAMES
BLOOMQUIST, HEATHER
ADDRESS : 2875 NORTH ROXBURY STREET
MORTGAGE AMT: 352,000.00 CITY : ORANGE CA 92867
LIFETIME RATE : 7.00000
UNPAID BALANCE: 351,421.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,341.8758.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080178601 MORTGAGORS: KUSSIN, DAVID
KUSSIA, MEREDITH
ADDRESS : 18923 VINTAGE STREET
MORTGAGE AMT: 311,250.00 CITY : NORTHRIDGECA 91324
LIFETIME RATE : 7.25000
UNPAID BALANCE: 310,762.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.2873.23529 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080178817 MORTGAGORS: ARNOLD, DEON
ARNOLD, EDWARD
ADDRESS : 3165 MOCKINGBIRD KNOLL
MORTGAGE AMT: 396,000.00 CITY : LA VERNE CA 91750
LIFETIME RATE : 7.50000
UNPAID BALANCE: 395,706.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,768.8980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080179039 MORTGAGORS: ATKINS, ALAN
ATKINS, LISA
ADDRESS : 1625 MUIRFILD LAND
MORTGAGE AMT: 332,000.00 CITY : EVERGREEN CO 80439
LIFETIME RATE : 7.25000
UNPAID BALANCE: 331,741.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,264.8380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080179062 MORTGAGORS: VILLANUEVA, KAREN
GELLA, AMELIA
ADDRESS : 2843 SPRINGDALE LANE
MORTGAGE AMT: 296,900.00 CITY : SAN RAMON CA 94585
LIFETIME RATE : 8.00000
UNPAID BALANCE: 296,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,178.5589.96970 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080179096 MORTGAGORS: GOLDSMITH, BARRY
GOLDSMITH, PAULA
ADDRESS : 11411 RIDGE MIST TERRACE
MORTGAGE AMT: 500,000.00 CITY : POTOMAC MD 20854
LIFETIME RATE : 7.25000
UNPAID BALANCE: 499,609.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,410.8971.95487 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080179450 MORTGAGORS: GARNETT, STEVEN
SULLIVAN, MICHELLE
ADDRESS : 7905 BRISTOL ROAD
MORTGAGE AMT: 247,900.00 CITY : DUBLIN CA 94568
LIFETIME RATE : 7.62500
UNPAID BALANCE: 247,720.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,754.6294.98084 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080179617 MORTGAGORS: LY, LINDA
NGUYEN, KEN
ADDRESS : 8 WOODSPRING COVE
MORTGAGE AMT: 372,450.00 CITY : BUENA PARKCA 90621
LIFETIME RATE : 8.00000
UNPAID BALANCE: 372,200.090 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,732.9179.99424 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080180094 MORTGAGORS: WISE, JASON
WISE, CAROLYN
ADDRESS : 15170 AVENUE 260
MORTGAGE AMT: 371,200.00 CITY : VISALIA CA 93292
LIFETIME RATE : 8.25000
UNPAID BALANCE: 370,963.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,788.7180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080180680 MORTGAGORS: SAUNDERS, JEFFREY
SAUNDERS, DAWN
ADDRESS : 199 SHELTER COVE DRIVE
MORTGAGE AMT: 276,000.00 CITY : EL GRANADACA 94018
LIFETIME RATE : 7.37500
UNPAID BALANCE: 275,789.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,906.2669.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080180896 MORTGAGORS: SHORT, LIESEL
POULIET, MARY
ADDRESS : 375 AVENUE ALHAMBRA
MORTGAGE AMT: 402,000.00 CITY : EL GRANADACA 94018
LIFETIME RATE : 8.12500
UNPAID BALANCE: 401,737.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,984.8469.67071 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080180953 MORTGAGORS: WOHLGEMUTH, BARRY
WOHLGEMUTH, ANITA
ADDRESS : 22076 EAST RIDGE TRAIL CI
MORTGAGE AMT: 392,300.00 CITY : AURORA CO 80016
LIFETIME RATE : 8.75000
UNPAID BALANCE: 392,074.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,086.2379.99560 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181464 MORTGAGORS: TAYLOR, STUART
STUTZ TAYLOR, KATHERINE
ADDRESS : 392 VEGA ROAD
MORTGAGE AMT: 292,500.00 CITY : WATSONVILLE CA 95076
LIFETIME RATE : 6.87500
UNPAID BALANCE: 292,254.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,921.5289.72393 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181555 MORTGAGORS: HARRIS, GREGORY
HARRIS, JACQUELINE
ADDRESS : 18 HUMMINGBIRD LANE
MORTGAGE AMT: 291,000.00 CITY : NEWARK DE 19711
LIFETIME RATE : 7.62500
UNPAID BALANCE: 290,789.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,059.6886.43479 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181621 MORTGAGORS: DE LA RIVA, PATRICIA
ADDRESS : 21710 LOS ALIMOS STREET
MORTGAGE AMT: 320,000.00 CITY : CHATSWORTHCA 91311
LIFETIME RATE : 7.50000
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4973.56322 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181647 MORTGAGORS: CLARK, TIMOTHY
ADDRESS : 2332 PASEO SAUCEDAL
MORTGAGE AMT: 303,750.00 CITY : SAN DIEGO CA 92009
LIFETIME RATE : 6.50000
UNPAID BALANCE: 303,199.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,919.9179.99989 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181670 MORTGAGORS: SCHOUW, JASON
ADDRESS : 4189 TESSA PLACE
MORTGAGE AMT: 317,550.00 CITY : PLEASANTONCA 94566
LIFETIME RATE : 7.25000
UNPAID BALANCE: 317,053.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,166.2679.99184 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080181944 MORTGAGORS: BJORKLUND, JENNIFER
ADDRESS : 4041 LYCEUM AVENUE
MORTGAGE AMT: 231,200.00 CITY : LOS ANGELES CA 90066
LIFETIME RATE : 8.00000
UNPAID BALANCE: 231,044.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,696.4680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080182397 MORTGAGORS: BRAKEBILL, JERRY
BRAKEBILL, KIM
ADDRESS : 24340 VIA LOMAS DE YORBA
MORTGAGE AMT: 340,900.00 CITY : YORBA LINDA CA 92887
LIFETIME RATE : 6.87500
UNPAID BALANCE: 340,325.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,239.4774.77517 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080182959 MORTGAGORS: BOULARD, EMILE
BOULARD, PATRICIA
ADDRESS : 62 DEER HILL AVENUE
MORTGAGE AMT: 360,000.00 CITY : DANBURY CT 06811
LIFETIME RATE : 7.62500
UNPAID BALANCE: 359,739.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,548.0690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080183171 MORTGAGORS: bITTLE, NANCY
bittle, maybell bittle, james
ADDRESS : 7772 YAuPON DRIVE
MORTGAGE AMT: 255,900.00 CITY : Austin TX 78759
LIFETIME RATE : 8.00000
UNPAID BALANCE: 255,728.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,877.7079.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080183239 MORTGAGORS: MAGARIAN, MARK
MAGARIAN, KRISTINE
ADDRESS : 755 LAWNBROOK DRIVE
MORTGAGE AMT: 288,800.00 CITY : FRESNO CA 93720
LIFETIME RATE : 8.00000
UNPAID BALANCE: 288,606.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,119.1180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080183361 MORTGAGORS: CALHOUN, DOUGLAS
CALHOUN, SHARON
ADDRESS : 11174 RHODA WAY
MORTGAGE AMT: 340,000.00 CITY : CULVER CITY CA 90230
LIFETIME RATE : 7.87500
UNPAID BALANCE: 339,766.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,465.2479.06977 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080183742 MORTGAGORS: MOYLAN, STEVEN
MOYLAN, SANDRA
ADDRESS : 1304 HORNE COURT
MORTGAGE AMT: 271,000.00 CITY : BRENTWOOD CA 94513
LIFETIME RATE : 7.62500
UNPAID BALANCE: 270,803.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,918.1390.33333 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080183908 MORTGAGORS: HENDRIX, CHARLES
ADDRESS : 4735 SHETLAND LANE
MORTGAGE AMT: 281,650.00 CITY : HOUSTON TX 77027
LIFETIME RATE : 7.75000
UNPAID BALANCE: 281,451.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,017.7889.98431 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080184252 MORTGAGORS: ADAMS, KEVIN
ADAMS, RENEE
ADDRESS : 6408 GALWAY DRIVE
MORTGAGE AMT: 301,750.00 CITY : CLARKSVILLE MD 21029
LIFETIME RATE : 7.50000
UNPAID BALANCE: 301,526.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,109.8889.42198 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080184518 MORTGAGORS: LANGSCHULTZ, JOHN
LANGSCHULTZ, FRANCES
ADDRESS : 44 DEARBORN DRIVE
MORTGAGE AMT: 280,000.00 CITY : OLD TAPPANNJ 07675
LIFETIME RATE : 7.87500
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1966.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185085 MORTGAGORS: LASHER, JEFFREY ALAN
LASHER, DIANA MARIE
ADDRESS : 2010 EAST SOFT WIND DRIVE
MORTGAGE AMT: 251,350.00 CITY : PHOENIX AZ 85024
LIFETIME RATE : 7.25000
UNPAID BALANCE: 250,758.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,714.6595.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185838 MORTGAGORS: HALL, KEVIN
HALL, MARY
ADDRESS : 15 HALIFAX COURT
MORTGAGE AMT: 246,900.00 CITY : STERLING VA 20165
LIFETIME RATE : 7.12500
UNPAID BALANCE: 246,503.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,663.4195.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185846 MORTGAGORS: MCAVEY, MAUREEN
ADDRESS : 3303 TURNER LANE
MORTGAGE AMT: 290,000.00 CITY : CHEVY CHASE MD 20815
LIFETIME RATE : 7.00000
UNPAID BALANCE: 289,523.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.3882.86000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185853 MORTGAGORS: DANIEL, DONALD
DANIEL, DONNA
ADDRESS : 9510 HOLLY PROSPECT COURT
MORTGAGE AMT: 328,800.00 CITY : BURKE VA 22015
LIFETIME RATE : 7.00000
UNPAID BALANCE: 328,240.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,187.5180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185861 MORTGAGORS: MUNZENMAIER, FRED
MUNZENMAIER, ANGELA
ADDRESS : 5115 RIVERLAKE DRIVE
MORTGAGE AMT: 462,400.00 CITY : DULUTH GA 30097
LIFETIME RATE : 6.87500
UNPAID BALANCE: 461,227.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,037.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185879 MORTGAGORS: FELTINGOFF, MARK
ADDRESS : 6022 VIA VENETIA NORTH
MORTGAGE AMT: 320,000.00 CITY : Delray Beach FL 33484
LIFETIME RATE : 7.37500
UNPAID BALANCE: 319,511.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,210.1663.63000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185887 MORTGAGORS: CALLAHAN, KEVIN
ADDRESS : 2841 NE 47TH STREET
MORTGAGE AMT: 416,000.00 CITY : LIGHTHOUSE POINT FL 33064
LIFETIME RATE : 7.25000
UNPAID BALANCE: 415,348.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,837.8580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185895 MORTGAGORS: WILTSE, KENNETH
ADDRESS : 1820 MILLSIDE TERRACE
MORTGAGE AMT: 247,500.00 CITY : DACULA GA 30019
LIFETIME RATE : 7.00000
UNPAID BALANCE: 247,093.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,646.6279.84000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185911 MORTGAGORS: SHUKER, SUZANNE
SHUKER, ANTHONY
ADDRESS : 1172 EMPIRE ROAD
MORTGAGE AMT: 303,900.00 CITY : ATLANTA GA 30329
LIFETIME RATE : 7.00000
UNPAID BALANCE: 303,400.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,021.8579.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185929 MORTGAGORS: MARSHALL, ADMAL
ADDRESS : 1171 BOWERIE CHASE
MORTGAGE AMT: 268,350.00 CITY : POWDER SPRINGS GA 30127
LIFETIME RATE : 7.50000
UNPAID BALANCE: 267,950.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,876.3490.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185937 MORTGAGORS: CUNNINGHAM, MATTHEW
CUNNINGHAM, SUSAN
ADDRESS : 1334 WINOKA ROAD
MORTGAGE AMT: 294,650.00 CITY : COLLIERVILLE TN 38017
LIFETIME RATE : 6.87500
UNPAID BALANCE: 294,153.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,935.6490.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185945 MORTGAGORS: SHIRK, TRACEY
ADDRESS : 303 PIKE STREET #501
MORTGAGE AMT: 246,500.00 CITY : Seattle WA 98122
LIFETIME RATE : 7.00000
UNPAID BALANCE: 245,890.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,639.9785.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185952 MORTGAGORS: VARALLO, JOHN
COOLIDGE, RHONDA
ADDRESS : 464 CROCKETT STREET
MORTGAGE AMT: 320,000.00 CITY : SEATTLE WA 98109
LIFETIME RATE : 6.75000
UNPAID BALANCE: 319,168.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,075.5180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185960 MORTGAGORS: SEAVITT, DENISE
ADDRESS : 7924 1/2 SEWARD PARK AVEN
MORTGAGE AMT: 348,850.00 CITY : SEATTLE WA 98118
LIFETIME RATE : 7.00000
UNPAID BALANCE: 347,987.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,320.9153.76000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185978 MORTGAGORS: TONELLI, MARK
CLANCY, KELLY
ADDRESS : 3323 N.W. 71ST STREET
MORTGAGE AMT: 389,000.00 CITY : SEATTLE WA 98117
LIFETIME RATE : 7.00000
UNPAID BALANCE: 388,360.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,588.0377.96000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185986 MORTGAGORS: CULLER, PAUL
CULLER, MICHELLE
ADDRESS : 7530 44TH STREET NORTHEAS
MORTGAGE AMT: 248,400.00 CITY : MARYSVILLEWA 98270
LIFETIME RATE : 6.62500
UNPAID BALANCE: 247,738.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,590.5390.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080185994 MORTGAGORS: DANIELL, JAMES
DANIELL, HEIDI
ADDRESS : 3735 BACCURATE WAY
MORTGAGE AMT: 268,800.00 CITY : MARIETTA GA 30062
LIFETIME RATE : 6.75000
UNPAID BALANCE: 268,335.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,743.4380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186000 MORTGAGORS: KEARNEY, DAVID
ADDRESS : 3333 S. MOUNT BAKER BOULE
MORTGAGE AMT: 288,800.00 CITY : SEATTLE WA 98144
LIFETIME RATE : 6.87500
UNPAID BALANCE: 288,313.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,897.2195.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186018 MORTGAGORS: ERICKSON, WILLIAM
ADDRESS : 8107 147TH AVENUE SOUTHEA
MORTGAGE AMT: 270,000.00 CITY : NEWCASTLE WA 98059
LIFETIME RATE : 6.87500
UNPAID BALANCE: 269,545.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,773.7172.97000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186026 MORTGAGORS: TANG, PAI
CHEN, XIN
ADDRESS : 779 CENTURY FARM LANE
MORTGAGE AMT: 347,000.00 CITY : NAPERVILLEIL 60563
LIFETIME RATE : 7.12500
UNPAID BALANCE: 345,355.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,337.8089.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186042 MORTGAGORS: MANDEL, SEYMOUR
MANDEL, ILENE
ADDRESS : 118 SUNSET COVE LANE
MORTGAGE AMT: 277,350.00 CITY : PALM BEACH GARDENS FL 33418
LIFETIME RATE : 7.00000
UNPAID BALANCE: 276,893.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,845.2279.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186059 MORTGAGORS: Kayfus, Gary
KAYFUS, PAIGE
ADDRESS : 4949 NW 108TH TERRACE
MORTGAGE AMT: 273,600.00 CITY : CORAL SPRINGS FL 33076
LIFETIME RATE : 6.87500
UNPAID BALANCE: 272,604.020 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,797.3690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186075 MORTGAGORS: wispe, jonathan
moles, lisa
ADDRESS : 6382 NORTH CAMINO MIRVAL
MORTGAGE AMT: 396,000.00 CITY : TUCSON AZ 85718
LIFETIME RATE : 6.87500
UNPAID BALANCE: 395,332.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,601.4480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186083 MORTGAGORS: BARNES, KENNETH
ADDRESS : 622 RIDGELAWN TRAIL
MORTGAGE AMT: 300,000.00 CITY : BATAVIA IL 60510
LIFETIME RATE : 7.50000
UNPAID BALANCE: 299,327.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,097.6492.31000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186091 MORTGAGORS: PEARCE, SEAN
PEARCE, SHANNON
ADDRESS : 14187 SE ROLLING MEADOWS
MORTGAGE AMT: 256,000.00 CITY : PORTLAND OR 97236
LIFETIME RATE : 6.87500
UNPAID BALANCE: 255,351.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,681.7480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186133 MORTGAGORS: GUAGENTI, MICHAEL
GUAGENTI, VERONICA
ADDRESS : 105 NORTH CATHERINE AVENU
MORTGAGE AMT: 263,250.00 CITY : LA GRANGE IL 60525
LIFETIME RATE : 7.12500
UNPAID BALANCE: 262,614.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,773.5690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186141 MORTGAGORS: GARDNER, KEVIN
ADDRESS : 5755 CHASE POINT CIRCLE
MORTGAGE AMT: 335,200.00 CITY : COLORADO SPRINGS CO 80919
LIFETIME RATE : 6.87500
UNPAID BALANCE: 334,350.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,202.0380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186158 MORTGAGORS: PARASMO, LUIGI
CALVO, JAVIER
ADDRESS : 5613 WILLIAMSBURG BOULEVA
MORTGAGE AMT: 256,500.00 CITY : ARLINGTON VA 22207
LIFETIME RATE : 7.25000
UNPAID BALANCE: 256,098.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,749.7895.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186166 MORTGAGORS: Lechner, Albert
Lechner, Deborah
ADDRESS : 8914 MOHAWK LANE
MORTGAGE AMT: 300,000.00 CITY : BETHESDA MD 20817
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,506.750 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186182 MORTGAGORS: OSTERSTROM, PAUL
OSTERSTROM, CHRISTEL
ADDRESS : 19107 NORTHEAST 103RD STR
MORTGAGE AMT: 348,800.00 CITY : REDMOND WA 98053
LIFETIME RATE : 7.00000
UNPAID BALANCE: 347,806.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,320.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186190 MORTGAGORS: KENNETH SMITH, MICHAEL
ADDRESS : 8096 WASHINGTON AVENUE
MORTGAGE AMT: 250,000.00 CITY : NORTH ROYALTON OH 44133
LIFETIME RATE : 6.87500
UNPAID BALANCE: 249,578.740 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,642.3289.29000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186216 MORTGAGORS: GARWOOD, AARON
GARWOOD, KARINA
ADDRESS : 1416 NE 148TH AVENUE
MORTGAGE AMT: 298,300.00 CITY : VANCOUVER WA 98684
LIFETIME RATE : 6.87500
UNPAID BALANCE: 297,637.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,959.6279.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186240 MORTGAGORS: HEAP, DAVID
HEAP, BARBARA
ADDRESS : 17400 297TH AVENUE SOUTHE
MORTGAGE AMT: 265,000.00 CITY : SULTAN WA 98294
LIFETIME RATE : 6.87500
UNPAID BALANCE: 264,328.270 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,740.8679.82000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186265 MORTGAGORS: SHAW, DAVID
SNIDER, MELISSA
ADDRESS : 1346 NORTH 78TH STREET
MORTGAGE AMT: 350,000.00 CITY : SEATTLE WA 98103
LIFETIME RATE : 7.00000
UNPAID BALANCE: 349,424.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,328.5671.87000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186299 MORTGAGORS: COLLINS, JOHN
COLLINS, JAYNE
ADDRESS : 8 ST. LOUIS STREET
MORTGAGE AMT: 451,800.00 CITY : DEWEY BEACH DE 19971
LIFETIME RATE : 7.37500
UNPAID BALANCE: 451,110.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,120.4760.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186315 MORTGAGORS: Kerrigan, J.
MURTAUGH, FRAN
ADDRESS : 10443 EAST SNYDER CREEK P
MORTGAGE AMT: 328,000.00 CITY : TUCSON AZ 85749
LIFETIME RATE : 7.12500
UNPAID BALANCE: 327,473.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,209.8080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186323 MORTGAGORS: BRINLEY, JERALD
ADDRESS : 1207 NAVAJO COURT
MORTGAGE AMT: 348,000.00 CITY : LOUISVILLEKY 40207
LIFETIME RATE : 7.00000
UNPAID BALANCE: 347,427.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,315.2580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186331 MORTGAGORS: NIEMANN, CRAIG
CRAWFORD-NIEMANN, JENNIFER
ADDRESS : 4750 LEONARD ST. NE
MORTGAGE AMT: 650,000.00 CITY : Grand Rapids MI 49546
LIFETIME RATE : 7.50000
UNPAID BALANCE: 648,543.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,544.8938.24000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186349 MORTGAGORS: MANDEVILLE-RAY, DOROTHY
ADDRESS : 12352 WOODWALK TERRACE
MORTGAGE AMT: 250,700.00 CITY : MITCHELLVILLE MD 20721
LIFETIME RATE : 7.37500
UNPAID BALANCE: 250,317.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,731.5294.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186372 MORTGAGORS: THOMPSON, MELISSA
PICCOLO, ANDREW
ADDRESS : 00 DONNIE LEE DRIVE
MORTGAGE AMT: 284,300.00 CITY : GAINSVILLEGA 30502
LIFETIME RATE : 7.25000
UNPAID BALANCE: 283,855.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,939.4379.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186380 MORTGAGORS: GRAYSON, RANDALL
SPEICE, PATRICIA
ADDRESS : 4016 LAND O LAKES
MORTGAGE AMT: 260,550.00 CITY : ATLANTA GA 30342
LIFETIME RATE : 7.00000
UNPAID BALANCE: 260,121.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,733.4590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186398 MORTGAGORS: SACHS, ROBERT
ADDRESS : 9 MAPLEWOOD PARK COURT
MORTGAGE AMT: 344,000.00 CITY : BETHESDA MD 20814
LIFETIME RATE : 7.37500
UNPAID BALANCE: 343,474.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,375.9280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186414 MORTGAGORS: WALTERMIRE, MICHAEL
WALTERMIRE, JANIS
ADDRESS : 2700 EAST BATES AVENUE
MORTGAGE AMT: 252,500.00 CITY : DENVER CO 80210
LIFETIME RATE : 7.50000
UNPAID BALANCE: 251,934.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,765.5284.17000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186422 MORTGAGORS: GAUDREAU, JEAN ETIENNE
ADDRESS : 5413 EAST SHEA BOULEVARD
MORTGAGE AMT: 279,200.00 CITY : SCOTTSDALEAZ 85254
LIFETIME RATE : 7.25000
UNPAID BALANCE: 278,542.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,904.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186455 MORTGAGORS: BRIGGS, BENJAMIN
ADDRESS : 200 ALBERTA DRIVE
MORTGAGE AMT: 276,300.00 CITY : ATLANTA GA 30305
LIFETIME RATE : 7.12500
UNPAID BALANCE: 275,856.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,861.4879.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186463 MORTGAGORS: TOLSON, GRAEME
TOLSON, DANIELLE
ADDRESS : 21066 NORTH 75TH STREET
MORTGAGE AMT: 279,500.00 CITY : SCOTTSDALEAZ 85255
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,062.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,906.6879.86000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186471 MORTGAGORS: PLOTNICK, JOSEPH
PLOTNICK, LINDA
PLOTNICK, BARBARA PLOTNICK, JEFFREY
ADDRESS : 1102 BARNEGAT AVENUE
MORTGAGE AMT: 255,000.00 CITY : SHIP BOTTOM NJ 08008
LIFETIME RATE : 7.12500
UNPAID BALANCE: 254,590.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,717.9877.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186497 MORTGAGORS: SHIN, EUN
SHIN, KAE
ADDRESS : 15195 WINDY HOLLOW CIRCLE
MORTGAGE AMT: 268,000.00 CITY : GAINESVILLE VA 20155
LIFETIME RATE : 7.25000
UNPAID BALANCE: 267,379.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,828.2379.92000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186505 MORTGAGORS: HEIDORN, MARK
HEIDORN, JODY
ADDRESS : 1239 NORTHRIDGE DRIVE
MORTGAGE AMT: 300,000.00 CITY : ERIE CO 80516
LIFETIME RATE : 6.75000
UNPAID BALANCE: 299,481.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,945.7979.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186513 MORTGAGORS: PRICE, BEVERLY
ADDRESS : 5708 KENFIELD LANE
MORTGAGE AMT: 314,850.00 CITY : UPPER MARLBORO MD 20772
LIFETIME RATE : 7.25000
UNPAID BALANCE: 314,357.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,147.8391.53000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186521 MORTGAGORS: RODGERS, MICHAEL
RODGERS, TAMI
ADDRESS : 19909 NE HERRING LANE
MORTGAGE AMT: 399,200.00 CITY : NEWBERG OR 97132
LIFETIME RATE : 7.12500
UNPAID BALANCE: 398,559.630 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,689.4880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186539 MORTGAGORS: KISSINGER, MARY
ADDRESS : 10231 SOUTH KLEINBROOK WA
MORTGAGE AMT: 253,550.00 CITY : HIGHLANDS RANCH CO 80126
LIFETIME RATE : 7.87500
UNPAID BALANCE: 253,199.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,838.4194.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186554 MORTGAGORS: RATLIFF, HAROLD
RATLIFF, DIANE
ADDRESS : 2301 CONESTOGA TRAIL COUR
MORTGAGE AMT: 268,000.00 CITY : WILDWOOD MO 63038
LIFETIME RATE : 7.12500
UNPAID BALANCE: 267,135.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,805.5773.42466 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080186893 MORTGAGORS: GRAHAM, JAMES
STOLL GRAHAM, TINA
ADDRESS : 7112 SW 248TH STREET
MORTGAGE AMT: 348,300.00 CITY : VASHON WA 98070
LIFETIME RATE : 8.00000
UNPAID BALANCE: 348,300.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,555.7090.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187164 MORTGAGORS: STRICKLAND, RICHARD
STRICKLAND, PAMELA
ADDRESS : 6910 SHOREVIEW DRIVE
MORTGAGE AMT: 273,400.00 CITY : MCKINNEY TX 75070
LIFETIME RATE : 7.00000
UNPAID BALANCE: 272,950.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,818.9461.86000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187214 MORTGAGORS: KONEN, MARK
KONEN, REBECCA
ADDRESS : 5505 BLUE HERON DRIVE
MORTGAGE AMT: 279,000.00 CITY : GREENSBORONC 27455
LIFETIME RATE : 7.25000
UNPAID BALANCE: 278,563.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,903.2773.42000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187222 MORTGAGORS: ELLIOTT, MICHAEL
ELLIOTT, CYNTHIA
ADDRESS : 17517 CHARITY LANE
MORTGAGE AMT: 303,000.00 CITY : GERMANTOWNMD 20874
LIFETIME RATE : 7.25000
UNPAID BALANCE: 302,525.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,066.9973.90000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187230 MORTGAGORS: REINKEN, ALAN
REINKEN, DIANA
ADDRESS : 10643 EAST DESERT COVE AV
MORTGAGE AMT: 248,000.00 CITY : SCOTTSDALEAZ 85259
LIFETIME RATE : 7.25000
UNPAID BALANCE: 247,416.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,691.8059.76000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187248 MORTGAGORS: CHAVOUSTIE, DAVID
CHAVOUSTIE, CHRIS
ADDRESS : 7442 EAST SIERRA VISTA DR
MORTGAGE AMT: 525,000.00 CITY : SCOTTSDALEAZ 85250
LIFETIME RATE : 7.37500
UNPAID BALANCE: 523,794.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,626.0470.38000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187255 MORTGAGORS: IMUS, GARY
IMUS, DEBRA
ADDRESS : 6525 NORTH CRAYCROFT ROAD
MORTGAGE AMT: 354,000.00 CITY : TUCSON AZ 85750
LIFETIME RATE : 7.50000
UNPAID BALANCE: 353,472.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,475.2278.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187271 MORTGAGORS: EMMERT, PAUL
EMMERT, GLORIA
ADDRESS : 10825 NORTH POINSETTIA DR
MORTGAGE AMT: 266,500.00 CITY : TUCSON AZ 85737
LIFETIME RATE : 7.37500
UNPAID BALANCE: 265,887.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,840.6578.38000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187289 MORTGAGORS: WALKER, THOMAS
WALKER, NANCY
ADDRESS : 6566 SOUTH OAK CIRCLE
MORTGAGE AMT: 286,600.00 CITY : LITTLETON CO 80127
LIFETIME RATE : 7.12500
UNPAID BALANCE: 284,128.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,930.8877.88000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187305 MORTGAGORS: VELLING, MICHAEL
VELLING, ELIZABETH
ADDRESS : 1918 MAGNOLIA BLVD W.
MORTGAGE AMT: 425,000.00 CITY : SEATTLE WA 98199
LIFETIME RATE : 7.25000
UNPAID BALANCE: 423,999.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,899.2556.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187313 MORTGAGORS: HOLLIBAUGH, RICHARD
HOLLIBAUGH, GWENDOLYN
ADDRESS : 17750 NORTHEAST 24TH STRE
MORTGAGE AMT: 272,000.00 CITY : REDMOND WA 98052
LIFETIME RATE : 7.12500
UNPAID BALANCE: 271,543.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,832.5180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187321 MORTGAGORS: BREEN, EDWARD
BREEN, VALERIE
ADDRESS : 3600 41ST AVENUE WEST
MORTGAGE AMT: 304,000.00 CITY : SEATTLE WA 98199
LIFETIME RATE : 6.87500
UNPAID BALANCE: 303,229.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,997.0678.96000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187339 MORTGAGORS: MERCHANT, HAKIM ALI
MERCHANT, NARGIS
ADDRESS : 14217 SOUTHEAST 83RD STRE
MORTGAGE AMT: 500,850.00 CITY : NEWCASTLE WA 98059
LIFETIME RATE : 7.00000
UNPAID BALANCE: 500,026.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,332.1768.61000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187404 MORTGAGORS: SMILEY, MARTHA ELLEN
ADDRESS : 1411 HARDOUIN AVENUE
MORTGAGE AMT: 364,500.00 CITY : AUSTIN TX 78703
LIFETIME RATE : 7.12500
UNPAID BALANCE: 363,323.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,455.7070.10000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187438 MORTGAGORS: HOLT, JAMES
HOLT, PAMELA
ADDRESS : 1225 STANHOPE COURT
MORTGAGE AMT: 650,000.00 CITY : SOUTHLAKE TX 76092
LIFETIME RATE : 7.12500
UNPAID BALANCE: 648,957.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,379.1776.20000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187446 MORTGAGORS: BARGER, WILLIAM
BARGER, KAREN
ADDRESS : 605 BROADWALK AVENUE
MORTGAGE AMT: 280,000.00 CITY : SOUTHLAKE TX 76092
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,340.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.0975.68000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187479 MORTGAGORS: Staples, Eugene
Staples, Jennifer
ADDRESS : 729 NORTH OAK PARK AVENUE
MORTGAGE AMT: 280,000.00 CITY : OAK PARK IL 60302
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,561.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.0974.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187487 MORTGAGORS: BIRD, JAMES
BIRD, LEE
ADDRESS : 1876 STEEPLEBROOK COVE
MORTGAGE AMT: 295,000.00 CITY : CORDOVA TN 38018
LIFETIME RATE : 7.12500
UNPAID BALANCE: 294,526.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,987.4771.08000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187495 MORTGAGORS: dale, allan
ADDRESS : 3854 PICKETT ROAD
MORTGAGE AMT: 400,000.00 CITY : SIGNAL MOUNTAIN TN 37377
LIFETIME RATE : 7.12500
UNPAID BALANCE: 399,034.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,694.8763.49000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187503 MORTGAGORS: CULBREATH, CHRISTIAN L
CULBREATH, KAY
ADDRESS : 21 DEEPWOOD DRIVE
MORTGAGE AMT: 408,000.00 CITY : JACKSON TN 38305
LIFETIME RATE : 7.37500
UNPAID BALANCE: 407,377.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,817.9580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187529 MORTGAGORS: AHMAD, ZAFAR
AHMAD, KATHLEEN
ADDRESS : 12 TIMBERDALE DRIVE
MORTGAGE AMT: 300,000.00 CITY : HOLMDEL NJ 07733
LIFETIME RATE : 7.50000
UNPAID BALANCE: 296,019.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,097.6469.77000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 03/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187537 MORTGAGORS: MULLIS, PAUL
MULLIS, DIANE
ADDRESS : 12809 SHADOW OAK LANE
MORTGAGE AMT: 380,000.00 CITY : FAIRFAX VA 22033
LIFETIME RATE : 7.25000
UNPAID BALANCE: 379,405.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,592.2780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187560 MORTGAGORS: VIRGULAK, WILLIAM
VIRGULAK, DEBORAH
ADDRESS : 15117 STILLFIELD PLACE
MORTGAGE AMT: 315,000.00 CITY : CENTREVILLE VA 20120
LIFETIME RATE : 7.25000
UNPAID BALANCE: 314,507.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,148.8684.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187594 MORTGAGORS: PRELLER, JOSEPH
ADDRESS : 4725 KESWICK ROAD
MORTGAGE AMT: 301,000.00 CITY : BALTIMORE MD 21210
LIFETIME RATE : 7.25000
UNPAID BALANCE: 300,528.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,053.3570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187602 MORTGAGORS: PETERS, GEORGE
PETERS, KAREN
ADDRESS : 92 RILLO DRIVE
MORTGAGE AMT: 270,400.00 CITY : WAYNE NJ 07470
LIFETIME RATE : 7.25000
UNPAID BALANCE: 269,976.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,844.6080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187610 MORTGAGORS: SMETANA, MARK
SMETANA, JEAN
ADDRESS : 25 RADCLIFFE DRIVE
MORTGAGE AMT: 253,800.00 CITY : HUNTINGTOWN MD 20639
LIFETIME RATE : 7.25000
UNPAID BALANCE: 253,000.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,731.3690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187636 MORTGAGORS: HOLLIDAY, SANDRA
HOLLIDAY, CHESTER
ADDRESS : 119 VIREO WAY
MORTGAGE AMT: 248,000.00 CITY : DUCK NC 27949
LIFETIME RATE : 6.87500
UNPAID BALANCE: 247,315.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,629.1878.48000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187644 MORTGAGORS: HALL, GEORGE
HALL, DORIS
ADDRESS : 803 AMER DRIVE
MORTGAGE AMT: 270,000.00 CITY : FT. WASHINGTON MD 20744
LIFETIME RATE : 6.50000
UNPAID BALANCE: 269,510.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,706.5877.14000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187651 MORTGAGORS: MOSELEY, KENNETH
MOSELEY, ANNEMARIE
ADDRESS : 8607 MARBURG MANOR WAY
MORTGAGE AMT: 402,500.00 CITY : LUTHERVILLE MD 21093
LIFETIME RATE : 7.00000
UNPAID BALANCE: 401,838.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,677.8468.22000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187669 MORTGAGORS: FADUL, ABDUL
DIWANI, SELWA
ADDRESS : 12 BATTERSEA LANE
MORTGAGE AMT: 565,000.00 CITY : FORT WASHINGTON MD 20744
LIFETIME RATE : 7.50000
UNPAID BALANCE: 564,158.750 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,950.5670.63000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187677 MORTGAGORS: HASTY, SCOTT
HASTY, GINA
ADDRESS : 2266 WOODCREEK DRIVE
MORTGAGE AMT: 318,000.00 CITY : PLAINFIELDIN 46168
LIFETIME RATE : 7.00000
UNPAID BALANCE: 311,433.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,115.6670.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187685 MORTGAGORS: RODRIGUEZ, DAVID
LITTLE, RAMIE
ADDRESS : 989 WINALL DOWN ROAD
MORTGAGE AMT: 425,000.00 CITY : ATLANTA GA 30319
LIFETIME RATE : 7.12500
UNPAID BALANCE: 424,318.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,863.3047.22000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187719 MORTGAGORS: SYLVESTER, EDWARD
ADDRESS : 4258 WHITMAN AVENUE NORTH
MORTGAGE AMT: 266,500.00 CITY : SEATTLE WA 98103
LIFETIME RATE : 7.50000
UNPAID BALANCE: 265,764.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,863.4153.30000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187735 MORTGAGORS: STRATTON, WALTER
ADDRESS : 434 ROUND HILL ROAD
MORTGAGE AMT: 275,000.00 CITY : GREENWICH CT 06831
LIFETIME RATE : 7.25000
UNPAID BALANCE: 274,475.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,875.9811.70000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187768 MORTGAGORS: DIAMOND, THOMAS
DIAMOND, MELISSA
ADDRESS : 5702 EAST CABALLO DRIVE
MORTGAGE AMT: 350,000.00 CITY : PARADISE VALLEY AZ 85253
LIFETIME RATE : 6.87500
UNPAID BALANCE: 349,080.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.2571.43000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187776 MORTGAGORS: SINADINOS, JAMES
ADDRESS : 22415 NORTH 49TH PLACE
MORTGAGE AMT: 320,000.00 CITY : PHOENIX AZ 85054
LIFETIME RATE : 7.00000
UNPAID BALANCE: 319,473.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,128.9780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187792 MORTGAGORS: BUCK, HEIDI
BUCK, PETER
ADDRESS : 347 NORTH 74TH STREET
MORTGAGE AMT: 338,000.00 CITY : SEATTLE WA 98103
LIFETIME RATE : 7.12500
UNPAID BALANCE: 337,457.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,277.1779.91000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187826 MORTGAGORS: Harris, Robert
Harris, Joann
ADDRESS : 8100 BRADLEY BOULEVARD
MORTGAGE AMT: 388,000.00 CITY : BETHESDA MD 20817
LIFETIME RATE : 7.12500
UNPAID BALANCE: 387,377.600 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,614.0370.55000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187834 MORTGAGORS: WALTERS, RANDALL
WALTERS, CYNTHIA
ADDRESS : 120 GLEN HAVEN DRIVE
MORTGAGE AMT: 297,319.00 CITY : WAYNESVILLE MO 65583
LIFETIME RATE : 7.00000
UNPAID BALANCE: 296,335.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,978.0778.66000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187842 MORTGAGORS: PAGNI, MARCO
PAGNI, CAROLINE
ADDRESS : 6 SPLIT RAIL COURT
MORTGAGE AMT: 305,300.00 CITY : LEMONT IL 60439
LIFETIME RATE : 7.00000
UNPAID BALANCE: 304,544.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,031.1761.93000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187883 MORTGAGORS: ANDERSEN, ROBERT
ANDERSEN, MARILYN
ADDRESS : 3507 SE BYBEE BLVD
MORTGAGE AMT: 278,700.00 CITY : PORTLAND OR 97202
LIFETIME RATE : 7.00000
UNPAID BALANCE: 277,778.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,854.2069.68000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187891 MORTGAGORS: BREEZE, JAMES
ADDRESS : 3430 CREEKVIEW DRIVE
MORTGAGE AMT: 284,000.00 CITY : MEDFORD OR 97504
LIFETIME RATE : 6.75000
UNPAID BALANCE: 283,013.640 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,842.0288.75000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187909 MORTGAGORS: wienold, george
WIENOLD, DONNA
ADDRESS : 301 NORTH SCHOENBECK ROAD
MORTGAGE AMT: 468,500.00 CITY : PROSPECT HEIGHTS IL 60070
LIFETIME RATE : 6.87500
UNPAID BALANCE: 467,312.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,077.7178.08000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187917 MORTGAGORS: BHATTACHARYA, SUJAN
BHATTACHARYA, SUPRIYA
ADDRESS : 20437 BRIGHTWATER PLACE
MORTGAGE AMT: 245,000.00 CITY : STERLING VA 20165
LIFETIME RATE : 7.25000
UNPAID BALANCE: 244,616.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,671.3376.56000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187933 MORTGAGORS: WEISS, STEVE
WOJTAS, LUCYNA
ADDRESS : 314 W. MENOMONEE STREET
MORTGAGE AMT: 618,600.00 CITY : CHICAGO IL 60614
LIFETIME RATE : 7.25000
UNPAID BALANCE: 616,652.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,219.9479.31000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187958 MORTGAGORS: EDWARDS, CRAIG
EDWARDS, JANET
ADDRESS : 823 HUMBOLDT AVENUE
MORTGAGE AMT: 296,000.00 CITY : WINNETKA IL 60093
LIFETIME RATE : 7.00000
UNPAID BALANCE: 295,267.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,969.3034.82000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187966 MORTGAGORS: WIKANDER, LARS
WIKANDER, ERICA
ADDRESS : 25 BAYSIDE TERRACE
MORTGAGE AMT: 371,000.00 CITY : GREENWICH CT 06878
LIFETIME RATE : 7.37500
UNPAID BALANCE: 370,433.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,562.4054.96000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187974 MORTGAGORS: KEROACK, MYLES
KEROACK, MARIA
ADDRESS : 13 SAGAMORE ROAD
MORTGAGE AMT: 263,000.00 CITY : MARBLEHEADMA 01945
LIFETIME RATE : 7.25000
UNPAID BALANCE: 262,017.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,078.6967.44000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080187982 MORTGAGORS: GIGIOLI, GEORGE
GIGIOLI, HILDA
ADDRESS : 23 INWOOD LANE
MORTGAGE AMT: 330,000.00 CITY : ANDOVER MA 01810
LIFETIME RATE : 7.50000
UNPAID BALANCE: 329,260.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,307.4173.33000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188006 MORTGAGORS: MELVILLE, KRAIG
MELVILLE, KATHERINE
ADDRESS : 1030 DOUBLE GATE ROAD
MORTGAGE AMT: 404,000.00 CITY : DAVIDSONVILLE MD 21035
LIFETIME RATE : 7.25000
UNPAID BALANCE: 403,367.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,755.9980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188014 MORTGAGORS: BRESNAHAN, LINDA
BRESNAHAN, CHARLES
ADDRESS : 10824 MIDDLE ACRES ROAD
MORTGAGE AMT: 596,000.00 CITY : CHARLOTTE NC 28213
LIFETIME RATE : 6.75000
UNPAID BALANCE: 594,670.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,865.6474.04000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188022 MORTGAGORS: DOYLE, J
DOYLE, MAUREEN
ADDRESS : 17808 HOWE DRIVE
MORTGAGE AMT: 360,000.00 CITY : OLNEY MD 20832
LIFETIME RATE : 7.12500
UNPAID BALANCE: 359,422.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,425.3980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188030 MORTGAGORS: ADAMS, CHARLES
ADAMS, CAROL
ADDRESS : 1416 SW DICKINSON LANE
MORTGAGE AMT: 290,000.00 CITY : PORTLAND OR 97219
LIFETIME RATE : 7.00000
UNPAID BALANCE: 289,523.190 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.3874.36000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188048 MORTGAGORS: GRAY, DAVID
GRAY, MARILYN
ADDRESS : 240 WILD TURKEY LANE
MORTGAGE AMT: 260,000.00 CITY : ROSEBURG OR 97470
LIFETIME RATE : 7.00000
UNPAID BALANCE: 259,356.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,729.7980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188055 MORTGAGORS: RASMUSSEN, RONALD
RASMUSSEN, MARIE
ADDRESS : 8005 SE TETON DRIVE
MORTGAGE AMT: 286,400.00 CITY : GRESHAM OR 97080
LIFETIME RATE : 7.25000
UNPAID BALANCE: 285,725.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.7578.47000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188063 MORTGAGORS: DISALLE, MARK
DISALLE, PEGGY
ADDRESS : 25838 SOUTHEAST 25TH WAY
MORTGAGE AMT: 468,000.00 CITY : ISSAQUAH WA 98029
LIFETIME RATE : 7.50000
UNPAID BALANCE: 467,303.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,272.3280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188071 MORTGAGORS: nasser, imad
fayyad, lana
ADDRESS : 39 CLEARWATER ROAD
MORTGAGE AMT: 354,000.00 CITY : BROOKLINE MA 02146
LIFETIME RATE : 7.37500
UNPAID BALANCE: 353,186.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,444.9978.49000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188089 MORTGAGORS: LOSINSKI, JOHN
LOSINSKI, CORAL
ADDRESS : 5488 CLONMEL COURT
MORTGAGE AMT: 316,000.00 CITY : ALEXANDRIAVA 22315
LIFETIME RATE : 7.37500
UNPAID BALANCE: 315,517.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,182.5380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188097 MORTGAGORS: COMPTON, MICHAEL
COMPTON, JOENETTE
ADDRESS : 125 PEBBLE BROOK LANE
MORTGAGE AMT: 300,000.00 CITY : MOORESVILLE NC 28115
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,257.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9178.95000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188105 MORTGAGORS: SKLENA, RICHARD
SKLENA, MICHELLE
ADDRESS : 3060 GLENVIEW ROAD
MORTGAGE AMT: 281,800.00 CITY : GLENVIEW IL 60025
LIFETIME RATE : 7.12500
UNPAID BALANCE: 281,119.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,898.5468.73000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188113 MORTGAGORS: BURNS,, WILLIAM
BURNS, JUDITH
ADDRESS : 21895 HYDE PARK DRIVE
MORTGAGE AMT: 285,000.00 CITY : ASHBURN VA 20147
LIFETIME RATE : 7.25000
UNPAID BALANCE: 284,280.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,944.2070.20000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188121 MORTGAGORS: Tamashiro, Peter
Tomashiro, Susan
ADDRESS : 460 HORSESHOE DRIVE
MORTGAGE AMT: 340,000.00 CITY : GRANTS PASS OR 97526
LIFETIME RATE : 6.87500
UNPAID BALANCE: 339,427.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,233.5677.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188139 MORTGAGORS: HOWELL, D.
ADDRESS : 6708 CEDAR VIEW COURT
MORTGAGE AMT: 550,000.00 CITY : CLIFTON VA 20124
LIFETIME RATE : 7.25000
UNPAID BALANCE: 548,705.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,751.9767.48000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188147 MORTGAGORS: WYLAND, DANIEL
WYLAND, SHARLA
ADDRESS : 22695 SW GRAHAMS FERRY RO
MORTGAGE AMT: 375,000.00 CITY : TUALATIN OR 97062
LIFETIME RATE : 7.00000
UNPAID BALANCE: 374,072.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,494.8869.44000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188162 MORTGAGORS: STORK, STEPHEN
STORK, ELLEN
ADDRESS : 1523 BROOKHAVEN DRIVE
MORTGAGE AMT: 532,000.00 CITY : MCLEAN VA 22101
LIFETIME RATE : 7.25000
UNPAID BALANCE: 531,167.470 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,629.1880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188170 MORTGAGORS: mccart, TIMOTHY
ADDRESS : 1508 PRAIRIEVIEW AVEnue
MORTGAGE AMT: 314,000.00 CITY : VAN METER IA 50261
LIFETIME RATE : 6.87500
UNPAID BALANCE: 313,204.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,062.7673.88000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188188 MORTGAGORS: BLODGETT, LINDA
ADDRESS : 8239 THE MIDWAY
MORTGAGE AMT: 251,000.00 CITY : ANNANDALE VA 22003
LIFETIME RATE : 7.50000
UNPAID BALANCE: 250,626.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,755.0372.75000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188196 MORTGAGORS: GILLIGAN, MATTHEW
GILLIGAN, LINDA
ADDRESS : 44 ROWLEY ROAD
MORTGAGE AMT: 300,000.00 CITY : TOPSFIELD MA 01983
LIFETIME RATE : 7.25000
UNPAID BALANCE: 299,029.020 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,046.5375.95000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188204 MORTGAGORS: MULCRONE, MICHAEL
SMITH, LISA
ADDRESS : 260 ESSEX
MORTGAGE AMT: 465,000.00 CITY : BARRINGTONIL 60010
LIFETIME RATE : 7.00000
UNPAID BALANCE: 464,235.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,093.6671.54000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188212 MORTGAGORS: HENDERSON,, WILLIAM
ADDRESS : 3432 NORTH VENICE STREET
MORTGAGE AMT: 320,000.00 CITY : ARLINGTON VA 22207
LIFETIME RATE : 6.87500
UNPAID BALANCE: 319,188.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,102.1771.43000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188220 MORTGAGORS: CHENG, WEIYING
DENG, SHIDAN
ADDRESS : 1851 VASSAR DRIVE
MORTGAGE AMT: 260,000.00 CITY : NAPERVILLEIL 60565
LIFETIME RATE : 7.12500
UNPAID BALANCE: 259,582.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,751.6780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188238 MORTGAGORS: TOOR, HARPAL
SINGH, SHAMSHER
ADDRESS : 11023 SOUTH 465 EAST
MORTGAGE AMT: 337,500.00 CITY : SANDY UT 84070
LIFETIME RATE : 7.25000
UNPAID BALANCE: 336,971.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,302.3475.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188246 MORTGAGORS: SWISSA, PINHAS
SWISSA, MARGALIT
ADDRESS : 23 FOX HILL ROAD
MORTGAGE AMT: 323,000.00 CITY : NEWTON MA 02159
LIFETIME RATE : 7.12500
UNPAID BALANCE: 322,481.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,176.1163.46000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188253 MORTGAGORS: MEUSEL, WILLIAM
MEUSEL, MARY
ADDRESS : 1121 LUCERNE WAY
MORTGAGE AMT: 363,400.00 CITY : INCLINE VILLAGE NV 89451
LIFETIME RATE : 6.87500
UNPAID BALANCE: 362,787.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,387.2864.32000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188261 MORTGAGORS: TOURVILLE, JOHN
TOURVILLE, MARGARET
ADDRESS : 6 N 085 SYCAMORE
MORTGAGE AMT: 280,000.00 CITY : MEDINAH IL 60157
LIFETIME RATE : 7.12500
UNPAID BALANCE: 279,550.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,886.4170.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188279 MORTGAGORS: RINCON, JAVIER
RINCON, KATHLEEN
ADDRESS : 1660 HIGHLAND DRIVE
MORTGAGE AMT: 489,000.00 CITY : ELM GROVE WI 53122
LIFETIME RATE : 6.87500
UNPAID BALANCE: 488,176.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,212.3878.24000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188295 MORTGAGORS: MCCARTHY,, JACK
MCCARTHY, TERESA
ADDRESS : 11110 CORONADO AVENUE NE
MORTGAGE AMT: 400,000.00 CITY : ALBUQUERQUE NM 87122
LIFETIME RATE : 6.87500
UNPAID BALANCE: 399,325.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,627.7260.61000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188311 MORTGAGORS: VALLARI, DAVID
VALLARI, ANADRUZELA
ADDRESS : 5631 FORESTVIEW LANE
MORTGAGE AMT: 446,300.00 CITY : LIBERITYVILLE IL 60048
LIFETIME RATE : 7.00000
UNPAID BALANCE: 445,566.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,969.2571.41000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188329 MORTGAGORS: GOETZ, JOEL
GOETZ, ELLEN
ADDRESS : 58 DOLPHIN DRIVE
MORTGAGE AMT: 307,500.00 CITY : TREASURE ISLAND FL 33706
LIFETIME RATE : 6.87500
UNPAID BALANCE: 306,981.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,020.0661.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188337 MORTGAGORS: J.CAHALANE, MICHAEL
L.CAHALANE, NANCY
ADDRESS : 22 ANIS ROAD
MORTGAGE AMT: 272,000.00 CITY : BELMONT MA 02178
LIFETIME RATE : 7.25000
UNPAID BALANCE: 271,574.340 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,855.5277.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188345 MORTGAGORS: MUNCE, JAY
MUNCE, JILL
ADDRESS : 200 NORTH EAST AVENUE
MORTGAGE AMT: 267,050.00 CITY : PARK RIDGEIL 60068
LIFETIME RATE : 6.87500
UNPAID BALANCE: 265,419.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,754.3365.13000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188352 MORTGAGORS: HOPKINS, JOHN
HOPKINS, ELLEN
ADDRESS : 85165 STRAYER PLACE
MORTGAGE AMT: 415,000.00 CITY : EUGENE OR 97405
LIFETIME RATE : 6.87500
UNPAID BALANCE: 414,026.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,726.2568.03000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188360 MORTGAGORS: GOSS, DANIEL
GOSS, KATHLEEN
ADDRESS : 5050 SE ALII COURT
MORTGAGE AMT: 304,000.00 CITY : MILWAUKIE OR 97267
LIFETIME RATE : 6.87500
UNPAID BALANCE: 303,487.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,997.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188378 MORTGAGORS: LEAVITT, KENT
LEAVITT, JANALEE
ADDRESS : 10619 180TH COURT NORTHEA
MORTGAGE AMT: 367,500.00 CITY : REDMOND WA 98052
LIFETIME RATE : 6.62500
UNPAID BALANCE: 366,849.740 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,353.1475.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188386 MORTGAGORS: BECK, BRADLEY
BECK, MADELEINE
ADDRESS : 2876 FRANKLIN OAKS DRIVE
MORTGAGE AMT: 305,600.00 CITY : HERNDON VA 20171
LIFETIME RATE : 6.87500
UNPAID BALANCE: 305,085.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,007.5780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188402 MORTGAGORS: AXELRAD, ANDREW
KITAY, KALEEN
ADDRESS : 8200 WESTWOOD MEWS COURT
MORTGAGE AMT: 344,000.00 CITY : VIENNA VA 22182
LIFETIME RATE : 7.12500
UNPAID BALANCE: 343,448.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,317.5980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188428 MORTGAGORS: ENGELHARD, EARL
ENGELHARD, SHARON
ADDRESS : 2705 HOWARD GROVE ROAD
MORTGAGE AMT: 290,000.00 CITY : DAVIDSONVILLE MD 21035
LIFETIME RATE : 7.12500
UNPAID BALANCE: 289,300.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.7872.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188436 MORTGAGORS: BELFORD, SUSAN
ADDRESS : 8829 WATTS MINE TERRACE
MORTGAGE AMT: 418,000.00 CITY : POTOMAC MD 20854
LIFETIME RATE : 7.12500
UNPAID BALANCE: 417,329.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,816.1455.73000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188444 MORTGAGORS: RUSSEY, JOHN
RUSSEY, MASAYE
ADDRESS : 3108 GOSHEFF LANE
MORTGAGE AMT: 290,000.00 CITY : GAMBRILLS MD 21054
LIFETIME RATE : 7.12500
UNPAID BALANCE: 289,534.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.7871.60000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188451 MORTGAGORS: FENWICK, FRANCIS
FENWICK, ANN
ADDRESS : 4001 ROSEMARY STREET
MORTGAGE AMT: 429,000.00 CITY : CHEVY CHASE MD 20815
LIFETIME RATE : 7.12500
UNPAID BALANCE: 428,311.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,890.2566.93000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188485 MORTGAGORS: POORMAN, MATTHEW
POORMAN, SUSAN
ADDRESS : 10504 NW LA CASSEL CREST
MORTGAGE AMT: 336,800.00 CITY : PORTLAND OR 97229
LIFETIME RATE : 7.00000
UNPAID BALANCE: 335,475.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,240.7469.44000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188493 MORTGAGORS: LEE, LOUIS R
LEE, JAYNE H
ADDRESS : 11104 HIDDEN TRAIL DRIVE
MORTGAGE AMT: 292,000.00 CITY : OWINGS MILLS MD 21117
LIFETIME RATE : 7.12500
UNPAID BALANCE: 291,169.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,967.2645.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188501 MORTGAGORS: MITCHELL, STEVEN
MITCHELL, TERI
ADDRESS : 5315 228TH AVENUE NORTHEA
MORTGAGE AMT: 254,500.00 CITY : REDMOND WA 98053
LIFETIME RATE : 6.87500
UNPAID BALANCE: 254,070.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,671.8879.53000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188519 MORTGAGORS: RICHEY, TROY
RICHEY, KATHRYN
ADDRESS : 3573 SPRING BOULEVARD
MORTGAGE AMT: 392,500.00 CITY : EUGENE OR 97405
LIFETIME RATE : 7.12500
UNPAID BALANCE: 391,870.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,644.3578.19000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188543 MORTGAGORS: MURRI, MITCHELL H
PAWSON, LINDA S
ADDRESS : 3854 92ND AVE NE
MORTGAGE AMT: 544,000.00 CITY : BELLEVUE WA 98004
LIFETIME RATE : 7.00000
UNPAID BALANCE: 543,105.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,619.2580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188550 MORTGAGORS: KORINS, PAUL
KORINS, JANE
ADDRESS : 18 HIGH STREET
MORTGAGE AMT: 275,000.00 CITY : MARBLEHEADMA 01945
LIFETIME RATE : 7.62500
UNPAID BALANCE: 274,600.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,946.4375.34000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188568 MORTGAGORS: TIMBERLAKE,, MARION
TIMBERLAKE, JANET
ADDRESS : 8111 RIDGE CREEK WAY
MORTGAGE AMT: 268,000.00 CITY : SPRINGFIELD VA 22153
LIFETIME RATE : 7.00000
UNPAID BALANCE: 267,559.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,783.0180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188584 MORTGAGORS: RENCZKOWSKI, ALAN
RENCZKOWSKI, BECKY
ADDRESS : 1819 61ST AVENUE N.W.
MORTGAGE AMT: 350,000.00 CITY : GIG HARBORWA 98335
LIFETIME RATE : 6.87500
UNPAID BALANCE: 349,112.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.2570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188592 MORTGAGORS: GULLETT, GARY
ADDRESS : 11075 WEST 82ND PLACE
MORTGAGE AMT: 274,000.00 CITY : ARVADA CO 80005
LIFETIME RATE : 6.87500
UNPAID BALANCE: 273,538.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,799.9880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188600 MORTGAGORS: DANTZLER, MARK
DANTZLER, CYNTHIA
ADDRESS : 23626 CORNERSTONE LANE
MORTGAGE AMT: 302,400.00 CITY : DAMASCUS MD 20872
LIFETIME RATE : 7.12500
UNPAID BALANCE: 301,914.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,037.3280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188618 MORTGAGORS: STEADMAN, KENNETH
STEADMAN, CATHERINE
ADDRESS : 10901 HAMPTON ROAD
MORTGAGE AMT: 325,000.00 CITY : FAIRFAX STATION VA 22039
LIFETIME RATE : 7.37500
UNPAID BALANCE: 324,503.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,244.6972.22000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188634 MORTGAGORS: GOLONKA, GLENN
ADDRESS : 801 PENNSYLVANIA AVENUE,
MORTGAGE AMT: 270,000.00 CITY : WASHINGTONDC 20004
LIFETIME RATE : 7.50000
UNPAID BALANCE: 269,308.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,887.8875.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188642 MORTGAGORS: DEEL, MONTY LYNN
DEEL, SUZANNE MARIE
ADDRESS : 28747 SPRINGFIELD DRIVE
MORTGAGE AMT: 540,000.00 CITY : EASTON MD 21601
LIFETIME RATE : 6.87500
UNPAID BALANCE: 539,090.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,547.4267.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188675 MORTGAGORS: Sawyer, Charles
Sawyer, Nancy
ADDRESS : 9984 SOUTH CLAIRTON STREE
MORTGAGE AMT: 279,750.00 CITY : HIGHLANDS RANCH CO 80126
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,312.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,908.3969.94000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188683 MORTGAGORS: CARTER, MARY ELLEN
CARTER, THOMAS
ADDRESS : 156 WINDWARD WAY
MORTGAGE AMT: 332,000.00 CITY : INDIAN HARBOUR BEACH FL 32937
LIFETIME RATE : 6.87500
UNPAID BALANCE: 331,440.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,181.0080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188709 MORTGAGORS: OSTLIE, TIMOTHY
OSTLIE, TARA
ADDRESS : 2425 145TH STREET NW
MORTGAGE AMT: 260,000.00 CITY : MARYSVILLEWA 98271
LIFETIME RATE : 7.00000
UNPAID BALANCE: 259,572.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,729.7974.29000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188717 MORTGAGORS: CLARK, TODD
CLARK, KIMBERLY
ADDRESS : 12111 MADDOX LANE
MORTGAGE AMT: 128,000.00 CITY : BOWIE MD 20715
LIFETIME RATE : 8.00000
UNPAID BALANCE: 127,827.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 939.2280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188733 MORTGAGORS: BECVAR, MICHAEL
BECVAR, JOLEEN
ADDRESS : 3109 SOUTH TAFT HILL ROAD
MORTGAGE AMT: 463,000.00 CITY : FORT COLLINS CO 80526
LIFETIME RATE : 7.37500
UNPAID BALANCE: 461,472.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,197.8377.17000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188758 MORTGAGORS: BETEAG, LINDA JUNE
BETEAG, MICHAEL PHILIP
ADDRESS : 2705 BILLY'S ROAD
MORTGAGE AMT: 550,000.00 CITY : MINDEN NV 89423
LIFETIME RATE : 7.25000
UNPAID BALANCE: 549,139.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,751.9775.86000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080188881 MORTGAGORS: KUO, LEE
KUO, LISA
ADDRESS : 1636 OAKWOOD AVENUE
MORTGAGE AMT: 348,000.00 CITY : ARCADIA CA 91006
LIFETIME RATE : 7.37500
UNPAID BALANCE: 347,735.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,403.5580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080189095 MORTGAGORS: DI LORENZO, RICHARD
DI LORENZO, ARLENE
ADDRESS : 49 STONEYBROOK RD
MORTGAGE AMT: 320,000.00 CITY : MARSHFIELDMA 02050
LIFETIME RATE : 7.50000
UNPAID BALANCE: 319,762.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080189368 MORTGAGORS: HARTNETT, KEVIN
HARTNETT, ALEXANDRA
ADDRESS : 2380 PINEVIEW DRIVE
MORTGAGE AMT: 280,000.00 CITY : MALVERN PA 19355
LIFETIME RATE : 7.87500
UNPAID BALANCE: 279,807.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080189491 MORTGAGORS: SCHACHT, NICHOLAS
SCHACHT, MEGAN
ADDRESS : 167 WATCHUNG AVENUE
MORTGAGE AMT: 300,000.00 CITY : MONTCLAIR NJ 07042
LIFETIME RATE : 7.37500
UNPAID BALANCE: 299,771.720 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0371.42857 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080190374 MORTGAGORS: CLAUSEN, LOUIS
CLAUSEN, SUSAN
ADDRESS : 606 EAST ELGIN STREET
MORTGAGE AMT: 56,000.00 CITY : CALDWELL ID 83605
LIFETIME RATE : 7.87500
UNPAID BALANCE: 55,961.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 406.0476.71233 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080190762 MORTGAGORS: SAUNDERS, RICHARD
SAUNDERS, EILEEN
ADDRESS : 390 CURWYN LANE
MORTGAGE AMT: 450,000.00 CITY : BERWYN PA 19312
LIFETIME RATE : 7.25000
UNPAID BALANCE: 450,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,069.7966.32277 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080190788 MORTGAGORS: GROPPER, SANDERS
GROPPER, SHIRLEY
ADDRESS : 46 LYNDON PLACE
MORTGAGE AMT: 200,000.00 CITY : MELVILLE NY 11747
LIFETIME RATE : 8.25000
UNPAID BALANCE: 199,872.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,502.5457.29838 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080190796 MORTGAGORS: RICHTER, JAMES
RICHTER, TONI
ADDRESS : 26666 SOTELO
MORTGAGE AMT: 273,000.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 7.37500
UNPAID BALANCE: 273,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,885.5472.41379 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080190812 MORTGAGORS: MARING, MATTHEW
MARING, CERYS
ADDRESS : 11509 SOUTHEAST 70TH STRE
MORTGAGE AMT: 268,000.00 CITY : NEWCASTLE WA 98056
LIFETIME RATE : 8.00000
UNPAID BALANCE: 268,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,966.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080191232 MORTGAGORS: JACKSON, LAMBERT
BAYRUNS, KRISTIN
ADDRESS : 3221 LAFAYETTE AVE SOUTH
MORTGAGE AMT: 252,900.00 CITY : SEATTLE WA 98144
LIFETIME RATE : 8.37500
UNPAID BALANCE: 252,742.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,922.2290.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080191273 MORTGAGORS: DISTON, GLENFORD
ADDRESS : 10885 SOUTHWEST 138TH STR
MORTGAGE AMT: 207,200.00 CITY : MIAMI FL 33176
LIFETIME RATE : 7.75000
UNPAID BALANCE: 207,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,484.4180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080191364 MORTGAGORS: GROVES, WILLIAM
ADDRESS : 4055 SOUTH FRANCES STREET
MORTGAGE AMT: 365,000.00 CITY : SUNNYVALE CA 94086
LIFETIME RATE : 7.50000
UNPAID BALANCE: 364,729.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,552.1374.94867 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080191463 MORTGAGORS: DICHOSO, DAVIS
DICHOSO, ANGELA
ADDRESS : 16047 BAYBERRY LANE
MORTGAGE AMT: 276,000.00 CITY : SAN LORENZO CA 94579
LIFETIME RATE : 7.87500
UNPAID BALANCE: 275,524.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,287.1587.61905 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 105 07/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080192677 MORTGAGORS: HENNIGAN, MICHAEL
HENNIGAN, STACEY
ADDRESS : 9317 SOUTH DAMEN AVENUE
MORTGAGE AMT: 279,000.00 CITY : CHICAGO IL 60620
LIFETIME RATE : 7.50000
UNPAID BALANCE: 278,584.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,950.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080192750 MORTGAGORS: COLTON, KEVIN
COLTON, LAURIE
ADDRESS : 1571 TANAGER COURT
MORTGAGE AMT: 272,000.00 CITY : TEMPLETON CA 93465
LIFETIME RATE : 7.87500
UNPAID BALANCE: 271,812.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,972.1977.71429 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080192842 MORTGAGORS: DU PAY, JAMES
ADDRESS : 95 CLAPBOARD HILL ROAD
MORTGAGE AMT: 1,000,000.00 CITY : WESTPORT CT 06880
LIFETIME RATE : 9.25000
UNPAID BALANCE: 1,000,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 8,226.7548.19277 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 9.25000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193030 MORTGAGORS: ZINKOV, ALEXANDER
ZINKOVA, IRINA
ADDRESS : 15 WINDING WOODS WAY
MORTGAGE AMT: 256,800.00 CITY : MANALAPAN NJ 07726
LIFETIME RATE : 8.00000
UNPAID BALANCE: 256,454.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,884.3180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193170 MORTGAGORS: ST ANGELO, DONALD
ADDRESS : 17555 COLLINS AVENUE
MORTGAGE AMT: 458,300.00 CITY : MIAMI BEACH FL 33160
LIFETIME RATE : 8.50000
UNPAID BALANCE: 458,300.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,523.9369.99885 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193576 MORTGAGORS: UVANEY, LYNDA
GORCHESTER, GARY
ADDRESS : 23726 VINE AVENUE
MORTGAGE AMT: 244,000.00 CITY : TORRANCE CA 90501
LIFETIME RATE : 7.75000
UNPAID BALANCE: 244,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,748.0580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193659 MORTGAGORS: CRNICH, DENNIS
CRNICH, KRYSTAL
ADDRESS : 5920 MAPLETON DRIVE
MORTGAGE AMT: 255,650.00 CITY : COLORADO SP CO 80918
LIFETIME RATE : 8.00000
UNPAID BALANCE: 255,478.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,875.8794.99268 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193816 MORTGAGORS: GIBBONS, WILLIAM
GIBBONS, MONICA
ADDRESS : 617 SYCAMORE DRIVE
MORTGAGE AMT: 337,850.00 CITY : SAN GABRIEL CA 91775
LIFETIME RATE : 8.25000
UNPAID BALANCE: 337,850.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,538.1579.49412 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080193832 MORTGAGORS: MUSHEYEV, BORIS
AMINOVA, SVETLANA
ADDRESS : 138 43 HOOVER AVE
MORTGAGE AMT: 264,000.00 CITY : BRIARWOOD NY 11435
LIFETIME RATE : 7.25000
UNPAID BALANCE: 263,794.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,800.9580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080194046 MORTGAGORS: QUACH, RANDY
QUACH, ALICE
ADDRESS : 5512 ESQUIVEL AVE
MORTGAGE AMT: 288,000.00 CITY : LAKEWOOD CA 90712
LIFETIME RATE : 8.12500
UNPAID BALANCE: 287,811.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,138.3980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080194202 MORTGAGORS: SIMM, HAS
ADDRESS : 512 PEACH GROVE LANE
MORTGAGE AMT: 261,200.00 CITY : SANTA BARBA CA 93105
LIFETIME RATE : 8.25000
UNPAID BALANCE: 261,033.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,962.3194.98182 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080194244 MORTGAGORS: LINDERMAN, JOHN
ADDRESS : 1 HIAWATHA COVE
MORTGAGE AMT: 132,000.00 CITY : BATTLE CREE MI 49015
LIFETIME RATE : 8.00000
UNPAID BALANCE: 131,911.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 968.5778.57143 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080194392 MORTGAGORS: GEN KUONG, NORA
GEN KUONG, ANGEL GEN KUONG, MARIA
ADDRESS : 2139 GOLD COIN COURT
MORTGAGE AMT: 260,000.00 CITY : GOLD RIVERCA 95670
LIFETIME RATE : 7.62500
UNPAID BALANCE: 259,811.820 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,840.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080194921 MORTGAGORS: SUN, TONY
SUN, MICHELLE
ADDRESS : 25 ULSTER PLACE
MORTGAGE AMT: 325,600.00 CITY : ALAMEDA CA 94502
LIFETIME RATE : 7.37500
UNPAID BALANCE: 325,352.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,248.8480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195001 MORTGAGORS: BROWN, ROBERT
BROWN, GLORIA
ADDRESS : 275 ROGAN STREET
MORTGAGE AMT: 256,500.00 CITY : CHULA VISTA CA 91910
LIFETIME RATE : 7.25000
UNPAID BALANCE: 256,299.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,749.7890.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195225 MORTGAGORS: TRAN, JANET
NGUYEN, JOHN
ADDRESS : 818 ST KITTS COURT
MORTGAGE AMT: 290,000.00 CITY : SAN JOSE CA 95127
LIFETIME RATE : 7.25000
UNPAID BALANCE: 289,546.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,978.3272.86432 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195282 MORTGAGORS: BLUM, MICHAEL
ADDRESS : 4120-4124 Wade Street
MORTGAGE AMT: 359,200.00 CITY : CULVER CITY CA 90066
LIFETIME RATE : 7.87500
UNPAID BALANCE: 358,952.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,604.4580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195472 MORTGAGORS: JOHNSON, PETER
JOHNSON, MARJORIE
ADDRESS : 8552 FISHER WOODS DRIVE
MORTGAGE AMT: 298,450.00 CITY : LORTON VA 22079
LIFETIME RATE : 6.75000
UNPAID BALANCE: 298,193.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,935.7479.99732 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195498 MORTGAGORS: RICHARDS, JEFFREY
RICHARDS, SUZANNE
ADDRESS : 138 NORTH DOWNEY LANE
MORTGAGE AMT: 356,250.00 CITY : PLACENTIA CA 92870
LIFETIME RATE : 7.37500
UNPAID BALANCE: 355,978.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,460.5375.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195563 MORTGAGORS: NASSER, SAMEH
NASSER, CINDY
ALRAMAHI, HANADI NASSER, SUHAIL
ADDRESS : 332 SAN JOSE AVENUE
MORTGAGE AMT: 279,200.00 CITY : MILLBRAE CA 94030
LIFETIME RATE : 7.50000
UNPAID BALANCE: 279,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,952.2180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195654 MORTGAGORS: CABRERA, MARLON
DAYA, LINA
ADDRESS : 2193 YOSEMITE DRIVE
MORTGAGE AMT: 259,100.00 CITY : MILPITAS CA 95035
LIFETIME RATE : 7.50000
UNPAID BALANCE: 258,323.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,811.6779.99383 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080195738 MORTGAGORS: TAYLOR, REBECCA
FORD, ARTHUR
ADDRESS : 26 CONCORD STREET
MORTGAGE AMT: 188,000.00 CITY : MALDEN MA 02148
LIFETIME RATE : 7.75000
UNPAID BALANCE: 188,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,346.8680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196199 MORTGAGORS: PILLASCH, DANIEL
PILLASCH, JAMI
ADDRESS : 2724 NORTH MOUNTAIN AVENU
MORTGAGE AMT: 288,000.00 CITY : CLAREMONT CA 91711
LIFETIME RATE : 7.87500
UNPAID BALANCE: 288,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,088.2080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196223 MORTGAGORS: KALOCI, MIKE
KALOCI, MARY
ADDRESS : 443 RINCON AVENUE
MORTGAGE AMT: 388,000.00 CITY : SUNNYVALE CA 94086
LIFETIME RATE : 8.25000
UNPAID BALANCE: 387,752.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,914.9280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196272 MORTGAGORS: EGAN, THOMAS
EGAN, ELEANOR
ADDRESS : 1893 PARKVIEW CIRCLE
MORTGAGE AMT: 292,000.00 CITY : COSTA MESACA 92627
LIFETIME RATE : 7.37500
UNPAID BALANCE: 291,777.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,016.7880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196348 MORTGAGORS: CORTES, JOSE
CORTES, CESAR
ADDRESS : 3783 CORKERHILL WAY
MORTGAGE AMT: 283,450.00 CITY : SAN JOSE CA 95121
LIFETIME RATE : 7.50000
UNPAID BALANCE: 283,239.640 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,981.9289.99841 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196397 MORTGAGORS: DE JESUS CRU, ANAYDA
ADDRESS : 1 SENTINEL HILL ROAD
MORTGAGE AMT: 251,000.00 CITY : ATTLEBORO MA 02703
LIFETIME RATE : 7.87500
UNPAID BALANCE: 251,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,819.9394.71698 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196413 MORTGAGORS: PLANE, JOHN
PLANE, BARBARA
PLANE, GALE PLANE, JOHN
ADDRESS : 603 29TH AVENUE
MORTGAGE AMT: 360,000.00 CITY : SAN MATEO CA 94403
LIFETIME RATE : 7.37500
UNPAID BALANCE: 359,726.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,486.4380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196553 MORTGAGORS: SCHULFER, RONALD
SCHULFER, KATHLEEN
ADDRESS : 7491 ETIWANDA AVENUE
MORTGAGE AMT: 259,200.00 CITY : RANCHO CUCA CA 91739
LIFETIME RATE : 7.62500
UNPAID BALANCE: 259,012.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,834.6180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080196751 MORTGAGORS: CURRIER, PHILIP
CURRIER, DEBORAH
ADDRESS : 13720 NOGALES DRIVE
MORTGAGE AMT: 382,000.00 CITY : SAN DIEGO CA 92014
LIFETIME RATE : 6.87500
UNPAID BALANCE: 381,356.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,509.4770.74000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197098 MORTGAGORS: MCRAE, BRIAN
MCRAE, TRICIA
ADDRESS : 15 VIRGINIA PLACE
MORTGAGE AMT: 304,000.00 CITY : LARCHMONT NY 10538
LIFETIME RATE : 7.25000
UNPAID BALANCE: 303,524.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,073.8280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197460 MORTGAGORS: KIN CHU, WILLIAM
PING CHU, AGNES
ADDRESS : 9533 SUVA STREET
MORTGAGE AMT: 381,600.00 CITY : DOWNEY CA 90240
LIFETIME RATE : 7.00000
UNPAID BALANCE: 380,972.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,538.7990.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197486 MORTGAGORS: EDDY, TERRI
EDDY, BILL
ADDRESS : 324 LAKE TOMACHEECHEE DRI
MORTGAGE AMT: 247,000.00 CITY : RINCON GA 31326
LIFETIME RATE : 7.00000
UNPAID BALANCE: 246,593.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,643.3095.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197684 MORTGAGORS: JENSEN, BETTY
ADDRESS : 2895 VISTA AVENUE
MORTGAGE AMT: 350,000.00 CITY : CARMEL CA 93923
LIFETIME RATE : 6.87500
UNPAID BALANCE: 349,410.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.2553.68000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197726 MORTGAGORS: JACKSON, JUDY
ADDRESS : 9917 FOX SPRINGS DRIVE
MORTGAGE AMT: 420,550.00 CITY : LAS VEGAS NV 89117
LIFETIME RATE : 6.87500
UNPAID BALANCE: 419,483.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,762.7179.65000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080197767 MORTGAGORS: NEWCOMBE, MARY
CURLEE, JODI
ADDRESS : 628 ALAMEDA ST
MORTGAGE AMT: 440,000.00 CITY : ALTADENA CA 91001
LIFETIME RATE : 7.12500
UNPAID BALANCE: 439,294.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,964.3680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080198138 MORTGAGORS: BALL, MARK
BALL, KARIN
ADDRESS : 33261 DECKER SCHOOL ROAD
MORTGAGE AMT: 530,000.00 CITY : MALIBU CA 90265
LIFETIME RATE : 6.75000
UNPAID BALANCE: 529,084.790 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,437.5748.18000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080198278 MORTGAGORS: METZ, ERIC
METZ, LORI
ADDRESS : 7411 EAST THUNDERHAWK ROA
MORTGAGE AMT: 278,000.00 CITY : SCOTTSDALEAZ 85255
LIFETIME RATE : 7.62500
UNPAID BALANCE: 277,596.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,967.6778.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080198377 MORTGAGORS: GALLAGHER, GALE
ADDRESS : 825 S COLLEGE AVE
MORTGAGE AMT: 76,300.00 CITY : TYLER TX 75701
LIFETIME RATE : 7.75000
UNPAID BALANCE: 76,191.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 546.6278.66000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080198443 MORTGAGORS: ROHRET, JOSEPH
ROHRET, FLORA
ADDRESS : 3222 SUGARLOAF ROAD
MORTGAGE AMT: 248,000.00 CITY : BOULDER CO 80302
LIFETIME RATE : 7.12500
UNPAID BALANCE: 247,602.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,670.8263.59000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080198773 MORTGAGORS: CARA, PHILIP
ADDRESS : 648 FAIRMONT AVE.
MORTGAGE AMT: 350,000.00 CITY : WESTFIELD NJ 07090
LIFETIME RATE : 7.25000
UNPAID BALANCE: 349,452.270 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,387.6276.25000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080199136 MORTGAGORS: LAMARSH, JOHN
ADDRESS : 3961 EAST PICKERING ROAD
MORTGAGE AMT: 128,000.00 CITY : SHELTON WA 98584
LIFETIME RATE : 7.37500
UNPAID BALANCE: 127,802.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 884.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080199193 MORTGAGORS: BRADEN, PHILIP
BRADEN, JAMIE
ADDRESS : 22066 SAN JOAQUIN DRIVE W
MORTGAGE AMT: 507,500.00 CITY : CANYON LAKE CA 92587
LIFETIME RATE : 7.62500
UNPAID BALANCE: 506,763.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,592.0570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080199235 MORTGAGORS: HUBBARD, LEA
HUBBARD, RONALD
ADDRESS : 361 CALLE DE ADELE
MORTGAGE AMT: 500,000.00 CITY : ENCINITAS CA 92024
LIFETIME RATE : 7.37500
UNPAID BALANCE: 499,189.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,453.3878.13000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080199268 MORTGAGORS: DENO, MARK
DENO, SHARON
ADDRESS : 24310 129TH AVENUE SOUTHE
MORTGAGE AMT: 255,000.00 CITY : KENT WA 98031
LIFETIME RATE : 7.37500
UNPAID BALANCE: 254,805.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,761.2278.46000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080199425 MORTGAGORS: GRULER, ROBERT
GRULER, KATHERINE
ADDRESS : 21050 NORTH 75TH STREET
MORTGAGE AMT: 384,000.00 CITY : SCOTTSDALEAZ 85255
LIFETIME RATE : 7.75000
UNPAID BALANCE: 383,728.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,751.0280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080200470 MORTGAGORS: STOCK, JEFFREY
STOCK, LEANNE
ADDRESS : 5910 BEVERLY AVENUE NE
MORTGAGE AMT: 248,500.00 CITY : TACOMA WA 98422
LIFETIME RATE : 7.50000
UNPAID BALANCE: 247,943.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,737.5570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080200868 MORTGAGORS: HARRIS, RICHARD
HARRIS, LORRAINE
ADDRESS : 4211 NE WISTARIA DRIVE
MORTGAGE AMT: 241,600.00 CITY : PORTLAND OR 97213
LIFETIME RATE : 7.75000
UNPAID BALANCE: 241,257.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,730.8580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201247 MORTGAGORS: SZYMANSKI, MICHAEL
ADDRESS : 1325 SUNSET AVENUE SW
MORTGAGE AMT: 650,000.00 CITY : SEATTLE WA 98116
LIFETIME RATE : 8.87500
UNPAID BALANCE: 649,268.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 5,171.6968.42000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201270 MORTGAGORS: FOREHAND, C
FOREHAND, BETTY
ADDRESS : 42150 EAST COUNTY ROAD 6
MORTGAGE AMT: 458,500.00 CITY : BENNETT CO 80102
LIFETIME RATE : 7.25000
UNPAID BALANCE: 457,782.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,127.7870.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201437 MORTGAGORS: LASTOWSKI, ROBERT
ADDRESS : 17 PINE STREET
MORTGAGE AMT: 568,750.00 CITY : NANTUCKET MA 02554
LIFETIME RATE : 8.62500
UNPAID BALANCE: 568,076.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,423.6865.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.62500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201726 MORTGAGORS: LOWE, STEPHANIE
ADDRESS : 57 SAN JACINTO WAY
MORTGAGE AMT: 440,000.00 CITY : SAN FRANCISCO CA 94127
LIFETIME RATE : 8.25000
UNPAID BALANCE: 439,436.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,305.5780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201742 MORTGAGORS: WEBER, JAMES
WEBER, TERESS
ADDRESS : 28891 MIRA VISTA
MORTGAGE AMT: 280,000.00 CITY : LAGUNA NIGUEL CA 92677
LIFETIME RATE : 7.50000
UNPAID BALANCE: 279,583.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.8070.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201783 MORTGAGORS: SUSOLIK, EDWARD
ADDRESS : 22 CERVANTES
MORTGAGE AMT: 650,000.00 CITY : NEWPORT BEACH CA 92660
LIFETIME RATE : 7.12500
UNPAID BALANCE: 648,957.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,379.1779.08000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201791 MORTGAGORS: AYAP, HEIDI
ADDRESS : 1478 BELLEMEADE STREET
MORTGAGE AMT: 394,400.00 CITY : SAN JOSE CA 95131
LIFETIME RATE : 8.37500
UNPAID BALANCE: 393,908.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,997.7279.84000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201809 MORTGAGORS: SHERMAN, DORIS
SHERMAN, DAVID
ADDRESS : 200 GAFFEY ROAD
MORTGAGE AMT: 416,000.00 CITY : WATSONVILLE CA 95076
LIFETIME RATE : 8.12500
UNPAID BALANCE: 415,453.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,088.7980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201841 MORTGAGORS: NOLAND, LINDA
ADDRESS : 20906 GERMAIN ST
MORTGAGE AMT: 300,000.00 CITY : CHATSWORTHCA 91311
LIFETIME RATE : 8.50000
UNPAID BALANCE: 299,635.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,306.7471.43000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201874 MORTGAGORS: HORTON, NEREYDA
ADDRESS : 2103 WELLINGTON ROAD
MORTGAGE AMT: 288,000.00 CITY : LOS ANGELES CA 90016
LIFETIME RATE : 8.00000
UNPAID BALANCE: 287,612.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,113.2480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201882 MORTGAGORS: CHARGIN, DENNIS
CHARGIN, LINDA
ADDRESS : 2104 SAND HILL ROAD
MORTGAGE AMT: 699,950.00 CITY : MENLO PARKCA 94025
LIFETIME RATE : 7.87500
UNPAID BALANCE: 698,983.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 5,075.1273.68000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201890 MORTGAGORS: SIDHU, LUZ
ADDRESS : 11061 ENCHANTO VISTA DRIV
MORTGAGE AMT: 300,000.00 CITY : SAN JOSE CA 95127
LIFETIME RATE : 8.00000
UNPAID BALANCE: 299,596.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,201.2941.10000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080201999 MORTGAGORS: BARNES, THOMAS
ADDRESS : 207 CLARISSA AVENUE
MORTGAGE AMT: 354,000.00 CITY : AVALON CA 90704
LIFETIME RATE : 8.37500
UNPAID BALANCE: 353,558.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,690.6660.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202070 MORTGAGORS: JACKSON, HENRY
JACKSON, SUSANNE
ADDRESS : 941 MADDUX DRIVE
MORTGAGE AMT: 275,000.00 CITY : PALO ALTO CA 94303
LIFETIME RATE : 8.87500
UNPAID BALANCE: 274,690.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,188.0245.08000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202138 MORTGAGORS: ALGAZE, NELSON
ALGAZE, SUSAN
ADDRESS : 1524 1ST STREET
MORTGAGE AMT: 561,000.00 CITY : MANHATTAN BEACH CA 90266
LIFETIME RATE : 7.87500
UNPAID BALANCE: 560,220.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,067.6475.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202153 MORTGAGORS: BATES, JAMES
BATES, SONJA
ADDRESS : 2224 TERRAZA PLACE
MORTGAGE AMT: 468,000.00 CITY : FULLERTON CA 92835
LIFETIME RATE : 8.00000
UNPAID BALANCE: 467,369.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,434.0280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202161 MORTGAGORS: VILLA, LUIS
ADDRESS : 33962 CALLE BORREGO
MORTGAGE AMT: 270,400.00 CITY : SAN JUAN CAPISTRANOCA 92675
LIFETIME RATE : 8.00000
UNPAID BALANCE: 270,035.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,984.1080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202286 MORTGAGORS: BELMONTE, STEVEN
BELMONTE, MICHELE
ADDRESS : 160 CONOVER LN
MORTGAGE AMT: 310,850.00 CITY : TEMPLETON CA 93465
LIFETIME RATE : 8.75000
UNPAID BALANCE: 310,491.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,445.4679.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.75000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202294 MORTGAGORS: VERGATI, REMO
VERGATI, PATRICIA
ADDRESS : 2953 VIA CARMEN
MORTGAGE AMT: 300,000.00 CITY : SAN JOSE CA 95124
LIFETIME RATE : 8.25000
UNPAID BALANCE: 299,616.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,253.8074.07000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202336 MORTGAGORS: BRAYANA, JOGA
KAUR, BALJINDER BRAYANA, NARENDER
ADDRESS : 1953 COMMODORE DRIVE
MORTGAGE AMT: 292,500.00 CITY : SAN JOSE CA 95133
LIFETIME RATE : 7.87500
UNPAID BALANCE: 292,096.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,120.8379.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202393 MORTGAGORS: ALLEN, BERNARD
ALLEN, MEDORA
ADDRESS : 1023 EAST CARTAGENA DRIVE
MORTGAGE AMT: 324,000.00 CITY : LONG BEACHCA 90807
LIFETIME RATE : 7.75000
UNPAID BALANCE: 323,541.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,321.1880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202401 MORTGAGORS: KRICK, STANLEY
ADDRESS : 26671 LOMA VERDE
MORTGAGE AMT: 290,000.00 CITY : MISSION VIEJO CA 92691
LIFETIME RATE : 7.37500
UNPAID BALANCE: 289,557.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,002.9669.88000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202476 MORTGAGORS: KIM, KUM
KIM, DUK
ADDRESS : 7740 EAST HEMLOCK STREET
MORTGAGE AMT: 270,000.00 CITY : MANCHESTERWA 98353
LIFETIME RATE : 8.25000
UNPAID BALANCE: 269,654.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,028.4290.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202492 MORTGAGORS: MAEVA, DEREK
MAEVA, MICHELLE
ADDRESS : 10966 BARBADOS WAY
MORTGAGE AMT: 247,000.00 CITY : SAN DIEGO CA 92126
LIFETIME RATE : 7.75000
UNPAID BALANCE: 246,650.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,769.5495.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202542 MORTGAGORS: SANCHEZ, J
SANCHEZ, ELIZABETH
ADDRESS : 1686 FUERTE RANCH ROAD
MORTGAGE AMT: 297,000.00 CITY : EL CAJON CA 92019
LIFETIME RATE : 7.50000
UNPAID BALANCE: 296,779.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,076.6790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202567 MORTGAGORS: LANPHEAR, TERRIE
ADDRESS : 7012 SNAKE ROAD
MORTGAGE AMT: 305,000.00 CITY : OAKLAND CA 94611
LIFETIME RATE : 8.25000
UNPAID BALANCE: 304,470.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,291.3688.41000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202609 MORTGAGORS: FARNO, STEPHEN
FARNO, KARA
ADDRESS : 29010 COVECREST DRIVE
MORTGAGE AMT: 500,000.00 CITY : RNCHO PALOS VERDES CA 90275
LIFETIME RATE : 8.00000
UNPAID BALANCE: 499,326.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,668.8280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202617 MORTGAGORS: CHOE, KYU
CHOE, KYUNG
ADDRESS : 6011 HAZELWOOD LANE SE
MORTGAGE AMT: 520,000.00 CITY : BELLEVUE WA 98006
LIFETIME RATE : 8.25000
UNPAID BALANCE: 519,334.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,906.5978.20000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202666 MORTGAGORS: TATE, KIMBERLY
ADDRESS : 12237 SAN VICENTE AVENUE
MORTGAGE AMT: 244,000.00 CITY : LAKESIDE CA 92040
LIFETIME RATE : 8.37500
UNPAID BALANCE: 243,494.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,854.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202708 MORTGAGORS: MURCHIO, GEORGE
MURCHIO, LINDA
ADDRESS : 227 CEDAR AVENUE
MORTGAGE AMT: 256,000.00 CITY : ALLENHURSTNJ 07711
LIFETIME RATE : 7.62500
UNPAID BALANCE: 255,544.740 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,081.9380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/19
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202799 MORTGAGORS: LIMON, JUAN
CASTRO, CECILIA
ADDRESS : 1326 EAST MONTECITO PLACE
MORTGAGE AMT: 303,750.00 CITY : SANTA BARBARA CA 93103
LIFETIME RATE : 8.50000
UNPAID BALANCE: 303,565.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,335.5775.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202849 MORTGAGORS: AGUILAR, MARIA
ADDRESS : 393 FERNWOOD CIRCLE
MORTGAGE AMT: 241,000.00 CITY : SUNNYVALE CA 94086
LIFETIME RATE : 8.62500
UNPAID BALANCE: 240,857.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,874.4778.25000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.62500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202880 MORTGAGORS: CRUZ, FRANK
CRUZ, ANGELA
ADDRESS : 1397 NEW YORK DRIVE
MORTGAGE AMT: 292,000.00 CITY : ALTADENA CA 91001
LIFETIME RATE : 8.62500
UNPAID BALANCE: 291,653.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,271.1566.36000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.62500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202930 MORTGAGORS: PERAVALI, RAVINDRA
PERAVALI, SHEELA
ADDRESS : 44198 BOITANO DRIVE
MORTGAGE AMT: 399,000.00 CITY : FREMONT CA 94539
LIFETIME RATE : 9.00000
UNPAID BALANCE: 398,562.490 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,210.4464.35000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 9.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202948 MORTGAGORS: CASTILLO, NOEMI
ADDRESS : 19 VILLA COURT
MORTGAGE AMT: 287,000.00 CITY : SOUTH SAN FRANCISCOCA 94080
LIFETIME RATE : 8.50000
UNPAID BALANCE: 286,826.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,206.7874.55000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080202971 MORTGAGORS: DUMONT, DONALD
ADDRESS : 128 MEMORY LANE
MORTGAGE AMT: 348,750.00 CITY : CAMPBELL CA 95008
LIFETIME RATE : 8.87500
UNPAID BALANCE: 348,357.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,774.8175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.87500 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203045 MORTGAGORS: CHRISTENSEN, DENNIS
CHRISTENSEN, PAMELA
ADDRESS : 3729 DEAUVILLE PLACE
MORTGAGE AMT: 344,000.00 CITY : SANTA ROSACA 95403
LIFETIME RATE : 7.50000
UNPAID BALANCE: 344,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,405.3080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203102 MORTGAGORS: BLONZ, EDWARD
BLONZ, KAREN
ADDRESS : 139 PURDUE AVENUE
MORTGAGE AMT: 322,300.00 CITY : KENSINGTONCA 94708
LIFETIME RATE : 7.50000
UNPAID BALANCE: 321,820.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,253.5767.85263 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203144 MORTGAGORS: KIRBY, JEFFERY
KIRBY, MICHELLE
ADDRESS : 575 EVENINGSONG LANE
MORTGAGE AMT: 296,400.00 CITY : ANAHEIM HIL CA 92808
LIFETIME RATE : 7.75000
UNPAID BALANCE: 295,980.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.4595.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203201 MORTGAGORS: WEATHERSBY, WILLIAM
WEATHERSBY, PAULA
ADDRESS : 12681 FALCON POINT PLACE
MORTGAGE AMT: 276,000.00 CITY : TRUCKEE CA 96161
LIFETIME RATE : 7.62500
UNPAID BALANCE: 275,599.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.5180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203235 MORTGAGORS: SACHDEVA, RAMESH
SACHDEVA, SUJATA
ADDRESS : 10710 NORTH GAZEBO HILL P
MORTGAGE AMT: 500,000.00 CITY : MEQUON WI 53092
LIFETIME RATE : 8.00000
UNPAID BALANCE: 499,664.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,668.8378.49294 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203243 MORTGAGORS: MEYER, KEITH
AUERBACH, EMILY
ADDRESS : 5001 CTY HWY M
MORTGAGE AMT: 310,000.00 CITY : MIDDLETON WI 53562
LIFETIME RATE : 7.62500
UNPAID BALANCE: 309,549.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,194.1651.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203268 MORTGAGORS: PAPOYAN, NARINE
ADDRESS : 7218 HILLSIDE AVENUE
MORTGAGE AMT: 288,000.00 CITY : LOS ANGELES CA 90046
LIFETIME RATE : 7.62500
UNPAID BALANCE: 287,581.780 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,038.4589.44099 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203359 MORTGAGORS: BIASOTTI, DAVID
BIASOTTI, BARBARA
ADDRESS : 7816 MEDINAH COURT
MORTGAGE AMT: 405,000.00 CITY : PLEASANTONCA 94588
LIFETIME RATE : 7.87500
UNPAID BALANCE: 404,440.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,936.5477.88462 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203417 MORTGAGORS: NAAR, SONYA
ADDRESS : 1834 W WARNER ST
MORTGAGE AMT: 270,000.00 CITY : CHICAGO IL 60613
LIFETIME RATE : 7.87500
UNPAID BALANCE: 270,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.6990.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203698 MORTGAGORS: XUE, JUE
LIU, XIANONONG
ADDRESS : 6505 TIPPERARY COURT
MORTGAGE AMT: 260,650.00 CITY : CLARKSVILLE MD 21029
LIFETIME RATE : 7.37500
UNPAID BALANCE: 260,451.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,800.2579.98490 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203771 MORTGAGORS: CHAPDELAINE, WILLIAM
CHAPDELAINE, KIMBERLY
ADDRESS : 713 BENT RIDGE LANE
MORTGAGE AMT: 348,000.00 CITY : BARRINGTONIL 60010
LIFETIME RATE : 7.25000
UNPAID BALANCE: 348,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,373.9780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080203797 MORTGAGORS: LINCOLN, ROBERT
LINCOLN, LAURIE
ADDRESS : 8 NELSON RIDGE ROAD
MORTGAGE AMT: 320,000.00 CITY : PRINCETON NJ 08540
LIFETIME RATE : 7.75000
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,292.5280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204050 MORTGAGORS: GRAHAM, KENNETH
GRAHAM, KAREN
ADDRESS : 627 169TH AVENUE SE
MORTGAGE AMT: 300,000.00 CITY : SNOHOMISH WA 98290
LIFETIME RATE : 7.75000
UNPAID BALANCE: 299,788.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,149.2476.92308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204233 MORTGAGORS: MC SHANE, MICHAEL
ADDRESS : 104 GIBBON STREET
MORTGAGE AMT: 417,050.00 CITY : AlexandriaVA 22314
LIFETIME RATE : 7.00000
UNPAID BALANCE: 415,918.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,774.6479.44000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204241 MORTGAGORS: BAKER, WILLIAM
BAKER, AMY
ADDRESS : 13200 BRONCROFT COURT
MORTGAGE AMT: 310,400.00 CITY : MidlothianVA 23113
LIFETIME RATE : 7.00000
UNPAID BALANCE: 309,632.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,065.1080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204258 MORTGAGORS: LUVISON, DAVID
LUVISON, SUSAN
ADDRESS : 12597 MISTY CREEK LANE
MORTGAGE AMT: 381,500.00 CITY : Fairfax VA 22033
LIFETIME RATE : 6.50000
UNPAID BALANCE: 379,756.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,411.3476.30000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 03/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204266 MORTGAGORS: FREEMAN, RONALD
FREEMAN, SANDEE
ADDRESS : 1632 CANYON VIEW DRIVE
MORTGAGE AMT: 254,000.00 CITY : San Jose CA 95132
LIFETIME RATE : 7.62500
UNPAID BALANCE: 253,444.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,797.8045.12000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204274 MORTGAGORS: STOVALL, M
ADDRESS : 33685 MCKENZIE VIEW DRIVE
MORTGAGE AMT: 325,000.00 CITY : Eugene OR 97408
LIFETIME RATE : 7.00000
UNPAID BALANCE: 324,465.640 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,162.2376.47000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204282 MORTGAGORS: BRODERICK, GREGORY
BRODERICK, MEGAN
ADDRESS : 72 DULAN DRIVE
MORTGAGE AMT: 272,000.00 CITY : Stamford CT 06903
LIFETIME RATE : 7.00000
UNPAID BALANCE: 270,873.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,809.6272.53000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204290 MORTGAGORS: WELTER, ANGENETTE
WELTER, CHRISTOPHER
ADDRESS : 16625 NE 143RD STREET
MORTGAGE AMT: 261,200.00 CITY : Woodinville WA 98072
LIFETIME RATE : 7.25000
UNPAID BALANCE: 260,377.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,781.8495.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204308 MORTGAGORS: MCBRIDE, JEFFREY
ADDRESS : 19601 EAST OCOTILLO ROAD
MORTGAGE AMT: 282,000.00 CITY : Queen Creek AZ 85242
LIFETIME RATE : 7.25000
UNPAID BALANCE: 281,015.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,923.7470.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204456 MORTGAGORS: CONN, LARRY
BREWER CONN, KIMBERLY
ADDRESS : 2216 W TOPEKA DRIVE
MORTGAGE AMT: 105,000.00 CITY : PHOENIX AZ 85027
LIFETIME RATE : 8.50000
UNPAID BALANCE: 104,936.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 807.3694.59459 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204472 MORTGAGORS: DUGAN, HENRY
DUGAN, ANN
ADDRESS : 2936 BRANDYWINE STREET NW
MORTGAGE AMT: 400,000.00 CITY : WASHINGTONDC 20008
LIFETIME RATE : 7.25000
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,728.7166.11570 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204555 MORTGAGORS: KECK, LEONHARD
ADDRESS : 13 CARNATION CIR
MORTGAGE AMT: 250,100.00 CITY : READING MA 01867
LIFETIME RATE : 7.75000
UNPAID BALANCE: 250,100.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,791.7589.99640 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204605 MORTGAGORS: HALEY, GLEN
HALEY, PAMELA
ADDRESS : 58 GATHERING ROAD
MORTGAGE AMT: 281,700.00 CITY : MONTVILLE T NJ 07058
LIFETIME RATE : 7.62500
UNPAID BALANCE: 281,496.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,993.8690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204928 MORTGAGORS: NGUYEN, DUNG
LY, PHUOC
ADDRESS : 3833 CHIPPEWA COURT
MORTGAGE AMT: 324,000.00 CITY : SAN DIEGO CA 92117
LIFETIME RATE : 7.25000
UNPAID BALANCE: 323,747.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,210.2580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080204993 MORTGAGORS: MARTINEZ, CAREY
ADDRESS : 5420 THUNDER RIDGE CIRCLE
MORTGAGE AMT: 278,800.00 CITY : ROCKLIN CA 95765
LIFETIME RATE : 7.37500
UNPAID BALANCE: 278,587.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,925.6094.99148 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080205255 MORTGAGORS: CASTANEDA, TOMAS
MORAN, MARTHA
ADDRESS : 89 GROVE LANE
MORTGAGE AMT: 276,000.00 CITY : NOVATO CA 94947
LIFETIME RATE : 7.25000
UNPAID BALANCE: 275,784.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,882.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080205453 MORTGAGORS: LAING, CLIFF
LAING, BECKY
ADDRESS : 2250 CABRILLO STSREET
MORTGAGE AMT: 300,000.00 CITY : SAN FRANCIS CA 94121
LIFETIME RATE : 7.37500
UNPAID BALANCE: 299,771.720 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0365.21739 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080205487 MORTGAGORS: DE LOS SANTOS, ARNULFO
DE LOS SANTOS, VENERANDA
ADDRESS : 27902 EDGECLIFF WAY
MORTGAGE AMT: 346,500.00 CITY : Hayward CA 94542
LIFETIME RATE : 7.87500
UNPAID BALANCE: 346,261.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,512.3790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080205495 MORTGAGORS: COFLIN, DAVID
COFLIN, CHERYL
ADDRESS : 156 GARFIELD AVE
MORTGAGE AMT: 299,900.00 CITY : CARBONDALECO 81623
LIFETIME RATE : 8.00000
UNPAID BALANCE: 299,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,200.5678.92105 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080205685 MORTGAGORS: GOMES, TODD
ADDRESS : 16950 LA SELVA DRIVE
MORTGAGE AMT: 300,000.00 CITY : MORGAN HILL CA 95037
LIFETIME RATE : 8.00000
UNPAID BALANCE: 299,798.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,201.2980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206014 MORTGAGORS: NEwMAN, JEAN
ADDRESS : 161 NEW BROADWAY
MORTGAGE AMT: 386,750.00 CITY : HASTINGS ON NY 10706
LIFETIME RATE : 7.75000
UNPAID BALANCE: 386,477.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,770.7265.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206055 MORTGAGORS: DEVICO, VINCE
SWANSON, ROBERT
ADDRESS : 2818 NORTH ADMORE AVENUE
MORTGAGE AMT: 344,000.00 CITY : MANHATTAN B CA 90266
LIFETIME RATE : 8.50000
UNPAID BALANCE: 344,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,645.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206105 MORTGAGORS: CHAPMAN, MARK
CHAPMAN, MIRIAM
ADDRESS : 338 WEST ASTER LANE
MORTGAGE AMT: 280,000.00 CITY : MEQUON WI 53092
LIFETIME RATE : 8.00000
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,054.5569.82544 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206329 MORTGAGORS: HARWOOD, EDWARD
HARWOOD, MARIANNE
ADDRESS : 3909 BORDEAUX CT
MORTGAGE AMT: 275,750.00 CITY : FLOWER MOUND TX 75022
LIFETIME RATE : 7.62500
UNPAID BALANCE: 275,550.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,951.7487.54000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206394 MORTGAGORS: HAGGARD, DWIGHT
HAGGARD, PAULA
ADDRESS : 22272 PARKWOOD STREET
MORTGAGE AMT: 280,000.00 CITY : LAKE FOREST CA 92630
LIFETIME RATE : 7.87500
UNPAID BALANCE: 279,807.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080206584 MORTGAGORS: HOEK, JACOB
HOEK, COBIE
ADDRESS : 4 AMANDA LANE
MORTGAGE AMT: 400,000.00 CITY : WEST CHESTE PA 19380
LIFETIME RATE : 7.50000
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,796.8680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080207244 MORTGAGORS: KNECHT, PETER
ADDRESS : 309 LOYOLA DRIVE
MORTGAGE AMT: 315,000.00 CITY : APTOS CA 95003
LIFETIME RATE : 8.25000
UNPAID BALANCE: 314,799.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,366.4988.11189 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080207566 MORTGAGORS: CONRAD, ROBERT
CONRAD, JACQUELYN
ADDRESS : 3 HASTINGS
MORTGAGE AMT: 500,000.00 CITY : LAGUNA NIGU CA 92677
LIFETIME RATE : 7.75000
UNPAID BALANCE: 500,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,582.0657.80347 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080207673 MORTGAGORS: BACA, JAMES
NEILLY BACA, NANCY
ADDRESS : 1624 EAST ELMSFORD PLACE
MORTGAGE AMT: 324,800.00 CITY : THOUSAND OA CA 91361
LIFETIME RATE : 7.25000
UNPAID BALANCE: 324,546.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,215.7180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080207822 MORTGAGORS: MBAGWU, MOSES
ADDRESS : 12100 MIDDLECOFF DR
MORTGAGE AMT: 264,700.00 CITY : CHESTER VA 23836
LIFETIME RATE : 7.75000
UNPAID BALANCE: 264,513.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,896.3494.62825 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080207897 MORTGAGORS: HAGAN, FRANK
ADDRESS : 5131 OPELU STREET
MORTGAGE AMT: 323,000.00 CITY : Hanalei HI 96714
LIFETIME RATE : 7.50000
UNPAID BALANCE: 322,519.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,258.4676.90000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080208200 MORTGAGORS: SHAPIRO, ALEXANDRA
KRIMSKY, SETH
ADDRESS : 6319 17TH AVE NE
MORTGAGE AMT: 440,000.00 CITY : SEATTLE WA 98115
LIFETIME RATE : 7.75000
UNPAID BALANCE: 439,689.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,152.2180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080208853 MORTGAGORS: MINICHIELLO, ANTONIO
ADDRESS : 32 THATCHER AVENUE
MORTGAGE AMT: 285,000.00 CITY : HARRISON NY 10528
LIFETIME RATE : 8.87500
UNPAID BALANCE: 284,840.220 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,267.5969.51220 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.87500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080208986 MORTGAGORS: HANSEN, MARK
HANSEN, CHERYL
ADDRESS : 3834 WHITMAN ROAD
MORTGAGE AMT: 280,000.00 CITY : ANNANDALE VA 22003
LIFETIME RATE : 7.62500
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,981.8280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209018 MORTGAGORS: ADAMOSKI, LEILA
ADAMOSKI, GARY
ADDRESS : 2729 NORTH RACINE AVENUE
MORTGAGE AMT: 315,000.00 CITY : CHICAGO IL 60614
LIFETIME RATE : 8.12500
UNPAID BALANCE: 315,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,338.8790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209125 MORTGAGORS: SMITH, MONA
GUERRERO, CRIS
ADDRESS : 5207 EGGERS DRIVE
MORTGAGE AMT: 271,950.00 CITY : FREMONT CA 94536
LIFETIME RATE : 7.87500
UNPAID BALANCE: 271,950.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,971.8379.99706 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209158 MORTGAGORS: FORSYTH, KYLE
FORSYTH, MICHELE
ADDRESS : 1700 CRICKET LANE
MORTGAGE AMT: 377,150.00 CITY : WEST CHESTE PA 19380
LIFETIME RATE : 8.37500
UNPAID BALANCE: 376,915.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,866.6279.99449 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209265 MORTGAGORS: CHALLIS, STEPHEN
CHALLIS, SUE
ADDRESS : 668 CREEK ROAD
MORTGAGE AMT: 256,500.00 CITY : SEVERNA PAR MD 21146
LIFETIME RATE : 7.75000
UNPAID BALANCE: 256,318.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,837.6095.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209802 MORTGAGORS: GOLD, PAUL
KOROL, DONNA
ADDRESS : 25 VIRGINIA AVENUE
MORTGAGE AMT: 250,000.00 CITY : BINGHAMTONNY 13902
LIFETIME RATE : 8.00000
UNPAID BALANCE: 250,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,834.4180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080209877 MORTGAGORS: WELLS, WALKER
BERGE, HELENA
ADDRESS : 442 ALTAIR PLACE
MORTGAGE AMT: 388,800.00 CITY : LOS ANGELES CA 90291
LIFETIME RATE : 7.37500
UNPAID BALANCE: 388,504.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,685.3480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210362 MORTGAGORS: SIMMONS, WILLIE
SIMMONS, MARIETTA
ADDRESS : 1428 FIRESTONE LOOP
MORTGAGE AMT: 245,050.00 CITY : SAN JOSE CA 95116
LIFETIME RATE : 7.37500
UNPAID BALANCE: 244,863.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,692.5079.98786 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210644 MORTGAGORS: LUND, JESSE
LUND, KATE
ADDRESS : 27 PEGASUS DRIVE
MORTGAGE AMT: 400,000.00 CITY : COTO DE CAZ CA 92679
LIFETIME RATE : 7.50000
UNPAID BALANCE: 399,703.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,796.8675.40057 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210669 MORTGAGORS: LEwIS, KIRK
LEWIS, KATHY
ADDRESS : 340 SE CHELSEA DRIVE
MORTGAGE AMT: 265,700.00 CITY : LEES SUMMIT MO 64063
LIFETIME RATE : 7.25000
UNPAID BALANCE: 265,284.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,812.5483.03125 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210685 MORTGAGORS: DUKULY, ZWANNAH
DUKULY, YATTA
ADDRESS : 3 CAMELOT DRIVE
MORTGAGE AMT: 323,000.00 CITY : HOWELL NJ 07731
LIFETIME RATE : 8.25000
UNPAID BALANCE: 322,794.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,426.5995.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210859 MORTGAGORS: HSIA, MING
LIN, KAI-YU
HSIA, DOROTHY LIN, TA-SHYONG
ADDRESS : 5 HENNA
MORTGAGE AMT: 368,650.00 CITY : IRVINE CA 92618
LIFETIME RATE : 6.87500
UNPAID BALANCE: 368,028.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,421.7772.07375 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210875 MORTGAGORS: COWELL, MICHAEL
ADDRESS : 8705 E WILEY WAY
MORTGAGE AMT: 310,000.00 CITY : ANAHEIM HIL CA 92808
LIFETIME RATE : 6.87500
UNPAID BALANCE: 309,477.630 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,036.4889.89520 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210917 MORTGAGORS: KO, BYONG
ADDRESS : 8677 E SUNNYWALK LANE
MORTGAGE AMT: 267,250.00 CITY : ANAHEIM HIL CA 92808
LIFETIME RATE : 7.12500
UNPAID BALANCE: 266,821.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,800.5289.98619 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080210966 MORTGAGORS: BANE, MARLA
ADDRESS : 5615 BENT TRAIL
MORTGAGE AMT: 272,000.00 CITY : Dallas TX 75248
LIFETIME RATE : 7.00000
UNPAID BALANCE: 271,552.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,809.6280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211022 MORTGAGORS: VELKES, MATTHEW
VELKES, LIZA
ADDRESS : 919 HILTS AVENUE
MORTGAGE AMT: 880,000.00 CITY : LOS ANGELES CA 90024
LIFETIME RATE : 8.37500
UNPAID BALANCE: 879,453.030 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 6,688.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 103 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211097 MORTGAGORS: ROGGIN, GREG
ADDRESS : 5342 43RD STREET N.W.
MORTGAGE AMT: 391,200.00 CITY : WashingtonDC 20015
LIFETIME RATE : 7.50000
UNPAID BALANCE: 390,617.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,735.3380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211170 MORTGAGORS: KAPLAN, KEN
KAPLAN, MARTHA
ADDRESS : 1878 WALTHAM CIRCLE
MORTGAGE AMT: 300,000.00 CITY : MARIETTA GA 30062
LIFETIME RATE : 7.87500
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,175.2189.02077 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211287 MORTGAGORS: KIRTLEY, KENNETH
KIRTLEY, LISA
ADDRESS : 14091 VAI BROTHERS DRIVE
MORTGAGE AMT: 269,700.00 CITY : RANCHO CUCA CA 91739
LIFETIME RATE : 7.25000
UNPAID BALANCE: 269,489.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,839.8389.98399 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211600 MORTGAGORS: DISKINT, PETER
DISKINT, JOANNE
ADDRESS : 34 ROSE TERRACE
MORTGAGE AMT: 325,000.00 CITY : CHATHAM NJ 07928
LIFETIME RATE : 7.50000
UNPAID BALANCE: 325,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,272.4575.58140 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211659 MORTGAGORS: KAISER, LINDA
ADDRESS : 1119 STONE HARBOR BOULEVA
MORTGAGE AMT: 341,000.00 CITY : STONE HARBO NJ 08247
LIFETIME RATE : 8.37500
UNPAID BALANCE: 340,788.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,591.8589.97361 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211667 MORTGAGORS: HOPPER, GARY
HOPPER, LINDA
ADDRESS : 105 HAWK POINTE COURT
MORTGAGE AMT: 376,000.00 CITY : FOLSOM CA 95630
LIFETIME RATE : 6.87500
UNPAID BALANCE: 375,684.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,470.0680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211683 MORTGAGORS: SMITH, ERIK
SMITH, SUSAN
ADDRESS : 246 MYRTLEWOOD DRIVE
MORTGAGE AMT: 109,250.00 CITY : CALIMESA CA 92320
LIFETIME RATE : 8.25000
UNPAID BALANCE: 109,180.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 820.7695.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080211691 MORTGAGORS: GEORGE, BRIAN
HICKERSON GE, CAROL
ADDRESS : 715 TUNBRIDGE ROAD
MORTGAGE AMT: 464,000.00 CITY : DANVILLE CA 94526
LIFETIME RATE : 7.12500
UNPAID BALANCE: 463,628.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,126.0580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212137 MORTGAGORS: CULLUM, STANLEY
HARRIS, PAMELA
ADDRESS : 3213 SHANE LANE
MORTGAGE AMT: 88,000.00 CITY : MODESTO CA 95355
LIFETIME RATE : 7.37500
UNPAID BALANCE: 87,933.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 607.7976.52174 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212160 MORTGAGORS: RAHMER, DANIEL
ADDRESS : 6231 GORDON VALLEY ROAD
MORTGAGE AMT: 340,000.00 CITY : SUISUN CITY CA 94585
LIFETIME RATE : 6.87500
UNPAID BALANCE: 339,125.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,233.5658.52000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212202 MORTGAGORS: PARKS, THOMAS
PARKS, PATRICIA
ADDRESS : 9596 PUFFIN AVENUE
MORTGAGE AMT: 283,450.00 CITY : Fountain Valley CA 92708
LIFETIME RATE : 7.00000
UNPAID BALANCE: 282,791.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,885.8089.98000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212236 MORTGAGORS: MCCABE, KEVIN
CABLE, MARSHA
ADDRESS : 2316 OLYMPIA AVENUE N.E.
MORTGAGE AMT: 263,200.00 CITY : Renton WA 98058
LIFETIME RATE : 6.75000
UNPAID BALANCE: 262,745.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,707.1180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212277 MORTGAGORS: LOUGHRIDGE, SCOTT
LOUGHRIDGE, ALICE
ADDRESS : 6140 EGAN CREST DRIVE
MORTGAGE AMT: 440,000.00 CITY : Las Vegas NV 89129
LIFETIME RATE : 6.87500
UNPAID BALANCE: 439,258.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,890.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212293 MORTGAGORS: SUNDSTROM, SHAWNA
ADDRESS : 2201 BRIDGE ROAD
MORTGAGE AMT: 504,000.00 CITY : Laguna Beach CA 92651
LIFETIME RATE : 6.87500
UNPAID BALANCE: 502,291.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,310.9280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212319 MORTGAGORS: OLCOTT, MARK
OLCOTT, LUCY
ADDRESS : 16901 GERMANTOWN ROAD
MORTGAGE AMT: 300,000.00 CITY : GermantownMD 20874
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,506.750 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9193.75000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212426 MORTGAGORS: PARKER, KATE
ADDRESS : 11513 WILD HAWTHORNE COUR
MORTGAGE AMT: 254,600.00 CITY : Reston VA 22095
LIFETIME RATE : 6.87500
UNPAID BALANCE: 254,170.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,672.5495.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212467 MORTGAGORS: CLARK, PATRICK
CLARK, BARBARA
ADDRESS : 14 WOODED LANE
MORTGAGE AMT: 459,800.00 CITY : Allen TX 75013
LIFETIME RATE : 6.87500
UNPAID BALANCE: 459,025.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,020.5673.57000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212475 MORTGAGORS: MELILLI, TERRI
ADDRESS : 2342 NORTHEAST 25TH STREE
MORTGAGE AMT: 301,500.00 CITY : Lighthouse Point FL 33064
LIFETIME RATE : 6.87500
UNPAID BALANCE: 300,478.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,980.6479.34000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212491 MORTGAGORS: DELOREAN, DENISE
ADDRESS : 7945 EAST GAIL ROAD
MORTGAGE AMT: 252,850.00 CITY : ScottsdaleAZ 85260
LIFETIME RATE : 7.50000
UNPAID BALANCE: 252,092.340 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,767.9679.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212509 MORTGAGORS: PETERSON, CATHRYN
PETERSON, ERICH
ADDRESS : 87 WILDERNESS CORNERSTONE
MORTGAGE AMT: 308,000.00 CITY : Evergreen CO 80439
LIFETIME RATE : 7.12500
UNPAID BALANCE: 307,256.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,075.0580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212517 MORTGAGORS: LAROCHE, DAVID
LAROCHE, CATHERINE
ADDRESS : 1509 NORWICH COURT
MORTGAGE AMT: 358,950.00 CITY : Southlake TX 76092
LIFETIME RATE : 7.00000
UNPAID BALANCE: 357,762.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,388.1075.25000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212533 MORTGAGORS: PLANTHOLT, BARBARA
ADDRESS : 945 OCEAN BLVD. WEST
MORTGAGE AMT: 368,000.00 CITY : Holden Beach NC 28462
LIFETIME RATE : 7.25000
UNPAID BALANCE: 367,133.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,510.4180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212558 MORTGAGORS: KAHOE, KATHLEEN
DOWNS, DAVID
ADDRESS : 125 MONTGOMERY PLACE
MORTGAGE AMT: 448,000.00 CITY : AlexandriaVA 22314
LIFETIME RATE : 7.12500
UNPAID BALANCE: 447,281.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,018.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212574 MORTGAGORS: BOSTROM, JOHN
BOSTROM, JOYCE
ADDRESS : 1661 SUGARLOAF DRIVE
MORTGAGE AMT: 408,000.00 CITY : San Mateo CA 94402
LIFETIME RATE : 7.37500
UNPAID BALANCE: 407,062.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,817.9580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212608 MORTGAGORS: LUNDY, MARY
LUNDY, LEO
ADDRESS : 9039 WINDCOVE COURT
MORTGAGE AMT: 322,600.00 CITY : FAIR OAKS CA 95628
LIFETIME RATE : 7.50000
UNPAID BALANCE: 322,119.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,255.6737.95294 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212624 MORTGAGORS: WALLNER, JEFFREY
ADDRESS : 8 BRIDLE PATH
MORTGAGE AMT: 265,000.00 CITY : HOLLAND PA 18966
LIFETIME RATE : 7.25000
UNPAID BALANCE: 264,309.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,807.7769.73684 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212640 MORTGAGORS: GOOLSBY, GEORGE
ADDRESS : 729 DENMEAD MILL
MORTGAGE AMT: 260,000.00 CITY : Marietta GA 30067
LIFETIME RATE : 7.00000
UNPAID BALANCE: 259,572.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,729.7980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212657 MORTGAGORS: FYFE, TIMOTHY
FYFE, JODI
ADDRESS : 134 GENEVA AVE.
MORTGAGE AMT: 301,000.00 CITY : Elmhurst IL 60126
LIFETIME RATE : 6.50000
UNPAID BALANCE: 299,701.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,902.5270.82000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212665 MORTGAGORS: THORNEWILL VON ESSEN, DAVID
VON ESSEN, PETRA
ADDRESS : 7867 S. MICHELLE LANE
MORTGAGE AMT: 382,000.00 CITY : Tempe AZ 85284
LIFETIME RATE : 7.25000
UNPAID BALANCE: 380,797.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,605.9179.87000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212673 MORTGAGORS: HOWE, KENNETH
HOWE, ANNETTE
ADDRESS : 14 BEL FAIR CT.
MORTGAGE AMT: 360,000.00 CITY : Henderson NV 89012
LIFETIME RATE : 6.87500
UNPAID BALANCE: 358,779.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,364.9477.42000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212681 MORTGAGORS: HORNER, RICHARD
ADDRESS : 1339 DENTON AVENUE
MORTGAGE AMT: 301,300.00 CITY : HAYWARD CA 94545
LIFETIME RATE : 8.00000
UNPAID BALANCE: 301,097.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,210.8388.74816 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212723 MORTGAGORS: SMITH, ROGER
SMITH, WEBDALINE
ADDRESS : 3 HAWTHORNE RD.
MORTGAGE AMT: 285,000.00 CITY : LEXINGTON MA 02420
LIFETIME RATE : 7.75000
UNPAID BALANCE: 284,534.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,041.7754.49000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080212756 MORTGAGORS: WINN, GAVIN
ADDRESS : 423 EAST SPRUCE GLEN ROAD
MORTGAGE AMT: 259,000.00 CITY : MURRAY UT 84107
LIFETIME RATE : 7.50000
UNPAID BALANCE: 258,223.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,810.9778.48485 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 351 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080213077 MORTGAGORS: BAUTISTA, JOSEPH
BAUTISTA, ARLENE
ADDRESS : 19 VIA HACIENDA
MORTGAGE AMT: 218,350.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.12500
UNPAID BALANCE: 217,999.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,471.0779.98461 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080213150 MORTGAGORS: DILALLO, SUSAN
DILALLO, RICHARD
ADDRESS : 1163 SCOTT AVE
MORTGAGE AMT: 500,000.00 CITY : WINNETKA IL 60093
LIFETIME RATE : 7.12500
UNPAID BALANCE: 499,600.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,368.5951.07252 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080214380 MORTGAGORS: CHOI, BOONG
CHOI, SOON
ADDRESS : 8731 SOMERSET STREET
MORTGAGE AMT: 438,300.00 CITY : BUENA PARKCA 90621
LIFETIME RATE : 7.87500
UNPAID BALANCE: 437,998.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,177.9890.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080214406 MORTGAGORS: GORODETSKY, GEORGE
ADDRESS : 3607 BELLFIELD WAY
MORTGAGE AMT: 560,000.00 CITY : STUDIO CITY CA 91604
LIFETIME RATE : 8.00000
UNPAID BALANCE: 559,245.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,109.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080215395 MORTGAGORS: CHAN, JOHN
PANG, BETTY
ADDRESS : 311 BROOKVIEW WAY
MORTGAGE AMT: 332,800.00 CITY : HAYWARD CA 94544
LIFETIME RATE : 8.12500
UNPAID BALANCE: 332,800.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,471.0380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080215965 MORTGAGORS: FILER, DIONNE
FILER, ANTHONY
ADDRESS : 3126 VAL VERDE AVENUE
MORTGAGE AMT: 356,000.00 CITY : LONG BEACHCA 90808
LIFETIME RATE : 7.87500
UNPAID BALANCE: 356,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,581.2580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080216278 MORTGAGORS: PINEDA, FERNANDO
PINEDA, MAGDALENA
ADDRESS : 3935 LINDEN AVENUE
MORTGAGE AMT: 440,000.00 CITY : LONG BEACHCA 90807
LIFETIME RATE : 7.75000
UNPAID BALANCE: 439,641.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,152.2280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080216666 MORTGAGORS: ALMERICO, KENDALL
ALMERICO, CHRISTINA
ADDRESS : 3612 W LONGFELLOW AVENUE
MORTGAGE AMT: 281,100.00 CITY : TAMPA FL 33629
LIFETIME RATE : 8.00000
UNPAID BALANCE: 281,100.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,062.6175.97297 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080216807 MORTGAGORS: KYLE, WILLIAM
KYLE, LYNN
ADDRESS : 4596 HICKS LANE
MORTGAGE AMT: 320,000.00 CITY : CHICO CA 95973
LIFETIME RATE : 7.50000
UNPAID BALANCE: 319,762.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,237.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080217417 MORTGAGORS: CITTADINI, RONALD
CITTADINI, PAULA
ADDRESS : 828 B STREET
MORTGAGE AMT: 285,000.00 CITY : PETALUMA CA 94952
LIFETIME RATE : 8.50000
UNPAID BALANCE: 284,827.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,191.4095.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080217599 MORTGAGORS: DRIVAS, PETER
ADDRESS : 23122 FAIRFIELD
MORTGAGE AMT: 310,150.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 8.37500
UNPAID BALANCE: 310,150.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,357.3679.99412 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080217680 MORTGAGORS: WALLACE, JEFF
KRIG WALLACE, SHANNON
ADDRESS : 3226 NE 87TH ST
MORTGAGE AMT: 295,200.00 CITY : SEATTLE WA 98115
LIFETIME RATE : 7.87500
UNPAID BALANCE: 295,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,140.4090.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080217698 MORTGAGORS: NITCHER, DEBRA
ADDRESS : 552 W BERRIDGE LANE
MORTGAGE AMT: 434,000.00 CITY : PHOENIX AZ 85013
LIFETIME RATE : 8.50000
UNPAID BALANCE: 434,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,337.0870.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080217706 MORTGAGORS: STAUB, CHARLES
STAUB, KATHERINE
ADDRESS : 18008 13TH AVENUE NORTHWE
MORTGAGE AMT: 420,000.00 CITY : SHORELINE WA 98177
LIFETIME RATE : 8.00000
UNPAID BALANCE: 420,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,081.8175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080218019 MORTGAGORS: THEURER, RICHARD
THEURER, KIRSTEN
ADDRESS : 259 MONTEGO DRIVE
MORTGAGE AMT: 420,000.00 CITY : DANVILLE CA 94526
LIFETIME RATE : 7.37500
UNPAID BALANCE: 419,680.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,900.8480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080218514 MORTGAGORS: AMOROSO, EUGENE
AMOROSO, CYNTHIA
ADDRESS : 9234 NORTH LAZYWOOD PLACE
MORTGAGE AMT: 288,750.00 CITY : Carefree AZ 85377
LIFETIME RATE : 7.25000
UNPAID BALANCE: 287,840.800 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,969.7875.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080218829 MORTGAGORS: CHAN, CHRIS
CHAN, RENE
ADDRESS : 2467 35TH AVENUE
MORTGAGE AMT: 342,000.00 CITY : SAN FRANCIS CA 94116
LIFETIME RATE : 7.62500
UNPAID BALANCE: 341,752.480 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,420.6579.90654 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080219595 MORTGAGORS: ATTON, ROBERT
ATTON, DEBRA
ADDRESS : 650 PEDRO AVENUE
MORTGAGE AMT: 558,750.00 CITY : BEN LOMONDCA 95005
LIFETIME RATE : 7.75000
UNPAID BALANCE: 558,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,002.9575.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220221 MORTGAGORS: NGO, HIEN
ADDRESS : 6429 WEST 97TH PLACE
MORTGAGE AMT: 253,150.00 CITY : WESTMINSTER CO 80021
LIFETIME RATE : 8.37500
UNPAID BALANCE: 252,992.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,924.1294.99062 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220429 MORTGAGORS: LOEB, JOHN
LOEB, SOFIA
ADDRESS : 32473 LAKE MASK PLACE
MORTGAGE AMT: 300,000.00 CITY : FREMONT CA 94555
LIFETIME RATE : 7.50000
UNPAID BALANCE: 299,777.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,097.6473.17073 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220486 MORTGAGORS: MURPHY, ROBERT
MURPHY, DARLENE
ADDRESS : 2431 VIA DE LOS MILAGROS
MORTGAGE AMT: 375,000.00 CITY : PLEASANTONCA 94566
LIFETIME RATE : 7.12500
UNPAID BALANCE: 374,700.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,526.4470.75472 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220551 MORTGAGORS: TANG, PING TAK
LEE, YI
ADDRESS : 30281 BROOKSIDE LANE
MORTGAGE AMT: 319,200.00 CITY : HAYWARD CA 94544
LIFETIME RATE : 6.75000
UNPAID BALANCE: 318,925.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,070.3380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220627 MORTGAGORS: PARKER, GREGG
VIEIRA PARKE, FELICIA
ADDRESS : 2993 RUBINO CIRCLE
MORTGAGE AMT: 299,100.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 6.87500
UNPAID BALANCE: 298,848.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,964.8879.96706 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220692 MORTGAGORS: TRAN, NGOC
LU, HOC
ADDRESS : 1400 FIRESTONE LOOP
MORTGAGE AMT: 249,250.00 CITY : SAN JOSE CA 95116
LIFETIME RATE : 7.25000
UNPAID BALANCE: 249,055.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,700.3379.98883 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220726 MORTGAGORS: PENUNURI, MARTIN
HIRAI, WENDY
ADDRESS : 826 DEDERICK COURT
MORTGAGE AMT: 395,800.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.00000
UNPAID BALANCE: 395,475.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,633.2780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220742 MORTGAGORS: SMITH, KEVIN
HILL SMITH, CONNIE
ADDRESS : 20 LAZURITE
MORTGAGE AMT: 223,550.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 6.87500
UNPAID BALANCE: 223,173.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,468.5779.99012 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220767 MORTGAGORS: LATINO, DENNIS
LATINO, TAMARA
ADDRESS : 530 PROVO COURT
MORTGAGE AMT: 249,600.00 CITY : RENO NV 89511
LIFETIME RATE : 7.00000
UNPAID BALANCE: 249,395.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,660.6079.85590 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220775 MORTGAGORS: LAM, LAN
LAM, NGA
LAM, THANH LY, HONG
ADDRESS : 2168 DAHLIA COURT
MORTGAGE AMT: 360,750.00 CITY : SAN JOSE CA 95133
LIFETIME RATE : 8.00000
UNPAID BALANCE: 360,457.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,647.0679.99778 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080220916 MORTGAGORS: CONINE, BILL
CONINE, DANA
ADDRESS : 22941 TIAGUA
MORTGAGE AMT: 385,000.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 7.87500
UNPAID BALANCE: 384,735.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,791.5272.77883 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221005 MORTGAGORS: LOZANO, JAMES
LOZANO, WENDY
ADDRESS : 3 TRADITION PLACE
MORTGAGE AMT: 288,000.00 CITY : IRVINE CA 92602
LIFETIME RATE : 6.87500
UNPAID BALANCE: 287,514.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,891.9690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221013 MORTGAGORS: BLACK, SYLVESTER
BLACK, THELMA
ADDRESS : 4872 CRESTONE NEEDLE WAY
MORTGAGE AMT: 279,900.00 CITY : ANTIOCH CA 94509
LIFETIME RATE : 7.87500
UNPAID BALANCE: 279,707.370 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,029.4779.99428 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221161 MORTGAGORS: FOLKENBERG, TODD
FOLKENBERG, TRINA
ADDRESS : 5764 SOUTH EVERETT WAY
MORTGAGE AMT: 256,400.00 CITY : LITTLETON CO 80123
LIFETIME RATE : 7.25000
UNPAID BALANCE: 256,199.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,749.1094.99815 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221203 MORTGAGORS: WU, JASPER
SHAN, SELENA
ADDRESS : 2656 VELVET WAY
MORTGAGE AMT: 332,000.00 CITY : WALNUT CREE CA 94596
LIFETIME RATE : 7.12500
UNPAID BALANCE: 331,467.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,236.7573.45133 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221252 MORTGAGORS: TOSTE, JOHN
TOSTE, EDITE
ADDRESS : 3470 OLD ARCATA ROAD
MORTGAGE AMT: 332,000.00 CITY : ARCATA CA 95521
LIFETIME RATE : 7.50000
UNPAID BALANCE: 331,753.600 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,321.4064.84375 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221294 MORTGAGORS: ZAKRZEWSKI, ADAM
ZAKRZEWSKI, GHISLAINE
ADDRESS : 64 47 84TH STREET
MORTGAGE AMT: 342,000.00 CITY : MIDDLE VILL NY 11379
LIFETIME RATE : 8.25000
UNPAID BALANCE: 341,781.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,569.3493.69863 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221302 MORTGAGORS: KARKAS, GREGORY
KARKAS, JENNY
ADDRESS : 11 QUAIL COURT
MORTGAGE AMT: 251,000.00 CITY : BRENTWOOD CA 94513
LIFETIME RATE : 7.00000
UNPAID BALANCE: 250,794.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,669.9165.19481 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221310 MORTGAGORS: STEPANIAN, HARATUN
STEPANIAN, OFIK
ADDRESS : 1909 POLARIS DRIVE
MORTGAGE AMT: 285,200.00 CITY : GLENDALE CA 91208
LIFETIME RATE : 7.12500
UNPAID BALANCE: 284,742.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,921.4547.53333 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221336 MORTGAGORS: REYNOSO, PABLO
ADDRESS : 485 NORTH ACACIA DRIVE
MORTGAGE AMT: 288,000.00 CITY : GILBERT AZ 85233
LIFETIME RATE : 7.75000
UNPAID BALANCE: 287,796.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,063.2790.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221401 MORTGAGORS: SILVA, WILLIAM
SILVA, JILL
ADDRESS : 6095 MALCOLM LANE
MORTGAGE AMT: 312,000.00 CITY : PENNGROVE CA 94951
LIFETIME RATE : 7.37500
UNPAID BALANCE: 311,762.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,154.9180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221518 MORTGAGORS: ORLIN, I
ADDRESS : 3591 EMANUEL DRIVE
MORTGAGE AMT: 303,000.00 CITY : GLENDALE CA 91208
LIFETIME RATE : 6.87500
UNPAID BALANCE: 302,489.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,990.4967.33333 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221690 MORTGAGORS: MARTINEZ, MARC
LIGHT, CAROLYN
ADDRESS : 15 CAVALLERI
MORTGAGE AMT: 538,400.00 CITY : NEWPORT COA CA 92657
LIFETIME RATE : 7.50000
UNPAID BALANCE: 538,000.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,764.5780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221807 MORTGAGORS: MARNELL, JOSEPH
MARNELL, STACEY
ADDRESS : 7009 BUXTON TERRACE
MORTGAGE AMT: 401,000.00 CITY : BETHESDA MD 20817
LIFETIME RATE : 7.50000
UNPAID BALANCE: 400,402.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,803.8572.44806 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221864 MORTGAGORS: TABER, TIM
TABER, LUCINDA
ADDRESS : 9109 EAST COUNTY RD
MORTGAGE AMT: 420,000.00 CITY : ZIONSVILLEIN 46077
LIFETIME RATE : 7.37500
UNPAID BALANCE: 419,358.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,900.8479.24528 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221930 MORTGAGORS: WEATHERHOLTZ, D
WEATHERHOLTZ, GEORGANNA
ADDRESS : 4422 CHIPPEWA DRIVE
MORTGAGE AMT: 300,000.00 CITY : JACKSONVILL FL 32210
LIFETIME RATE : 6.87500
UNPAID BALANCE: 299,747.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,970.7966.66667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080221963 MORTGAGORS: SUNDARA, BALAJI
SUNDARA, SEEMA
ADDRESS : 11 ROSECLIFF DRIVE
MORTGAGE AMT: 278,400.00 CITY : NASHUA NH 03062
LIFETIME RATE : 7.50000
UNPAID BALANCE: 277,985.490 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,946.6180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222003 MORTGAGORS: WOJTASEK, JAMES
WOJTASEK, CINDY
ADDRESS : 118 TYLER COURT
MORTGAGE AMT: 360,000.00 CITY : FORT WORTHTX 76108
LIFETIME RATE : 6.87500
UNPAID BALANCE: 359,393.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,364.9480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222029 MORTGAGORS: GRETEMAN, JAN
RAXTER, ALAN
ADDRESS : 1200 COUNTRY CLUB CIRCLE
MORTGAGE AMT: 279,900.00 CITY : BIRMINGHAMAL 35244
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,681.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,909.4173.67728 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222052 MORTGAGORS: SAMADI, SHAHIN
SAMADI, SAMIRA
ADDRESS : 4809 V STREET
MORTGAGE AMT: 412,000.00 CITY : WASHINGTONDC 20007
LIFETIME RATE : 6.87500
UNPAID BALANCE: 411,653.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,706.5580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222086 MORTGAGORS: SOBRADO, ALBERTO
ADDRESS : 15 ESTES STREET
MORTGAGE AMT: 455,000.00 CITY : AMESBURY MA 01913
LIFETIME RATE : 7.50000
UNPAID BALANCE: 455,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,181.4370.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222144 MORTGAGORS: HALL, BOBBY
HALL, KATHERINE
ADDRESS : 3668 WILEY RD
MORTGAGE AMT: 325,000.00 CITY : MONTGOMERYAL 36106
LIFETIME RATE : 6.87500
UNPAID BALANCE: 324,452.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,135.0274.20091 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222177 MORTGAGORS: WILLIAMS, JACK
WILLIAMS, TAMMY
ADDRESS : 390 OAK RIDGE DRIVE
MORTGAGE AMT: 368,000.00 CITY : FAIRVIEW TX 75069
LIFETIME RATE : 7.25000
UNPAID BALANCE: 367,424.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,510.4180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222292 MORTGAGORS: CAVE, RALPH
CAVE, KIMBERLY
ADDRESS : 113 HILLTOP WAY
MORTGAGE AMT: 320,000.00 CITY : SCOTTS VALL CA 95066
LIFETIME RATE : 7.87500
UNPAID BALANCE: 319,779.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,320.2380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222342 MORTGAGORS: SIMMONS, RALPH
SIMMONS, LISE
ADDRESS : 1126 TROTTING HORSE LANE
MORTGAGE AMT: 309,600.00 CITY : GREAT FALLS VA 22066
LIFETIME RATE : 7.50000
UNPAID BALANCE: 309,370.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,164.7780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222367 MORTGAGORS: WONG, PEI SHYAN
WONG, VILMA
ADDRESS : 4595 MEYER PARK CIRCLE
MORTGAGE AMT: 405,850.00 CITY : FREMONT CA 94536
LIFETIME RATE : 7.62500
UNPAID BALANCE: 405,556.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,872.5969.99876 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222425 MORTGAGORS: SWEET, TODD
SOLOMON, TRINA
ADDRESS : 2346 WEST ERIE
MORTGAGE AMT: 345,600.00 CITY : CHICAGO IL 60612
LIFETIME RATE : 7.37500
UNPAID BALANCE: 345,337.030 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,386.9780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222433 MORTGAGORS: YANG, PING
LI, WENZHENG
ADDRESS : 3300 LAKEBROOK DRIVE
MORTGAGE AMT: 360,000.00 CITY : PLANO TX 75093
LIFETIME RATE : 7.12500
UNPAID BALANCE: 359,422.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,425.3970.60208 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222458 MORTGAGORS: LOFSTROM, JACK
LOFSTROM, AUDREY
ADDRESS : 1870 ABERDEEN DRIVE
MORTGAGE AMT: 275,000.00 CITY : GLENVIEW IL 60025
LIFETIME RATE : 7.37500
UNPAID BALANCE: 274,580.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,899.3691.26813 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222466 MORTGAGORS: BENJAMIN, CHRISTOPHE
BENJAMIN, JUDY
ADDRESS : 440 HIGHLAND LAKE VIEW
MORTGAGE AMT: 292,600.00 CITY : ATLANTA GA 30349
LIFETIME RATE : 6.87500
UNPAID BALANCE: 292,106.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,922.1794.93835 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222482 MORTGAGORS: LEEBERN, SHERRY
ADDRESS : 1204 PONTE VEDRA BOULEVAR
MORTGAGE AMT: 395,000.00 CITY : PONTE VEDRA FL 32082
LIFETIME RATE : 7.50000
UNPAID BALANCE: 393,816.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,761.9069.91150 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222508 MORTGAGORS: STOPPER, BRIAN
STOPPER, KAROLYN
ADDRESS : 575 MORNINGHOME ROAD
MORTGAGE AMT: 324,000.00 CITY : DANVILLE CA 94526
LIFETIME RATE : 7.00000
UNPAID BALANCE: 323,734.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,155.5980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222524 MORTGAGORS: FATTAHI, TIRDAD
EFTEKHARI, SAGHI
ADDRESS : 8916 LIBERTY LANE
MORTGAGE AMT: 273,000.00 CITY : POTOMAC MD 20854
LIFETIME RATE : 7.25000
UNPAID BALANCE: 272,787.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,862.3478.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222532 MORTGAGORS: WACHTEL, JOHN
WACHTEL, SHIRLEY
ADDRESS : 169 Ball-Enwright Rd.
MORTGAGE AMT: 377,000.00 CITY : DEATSVILLEAL 36022
LIFETIME RATE : 7.00000
UNPAID BALANCE: 376,067.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,508.1989.76190 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222565 MORTGAGORS: BLUESTEIN, JAY
CARLI, LORRAINE
ADDRESS : 35 PLANTATION ROAD
MORTGAGE AMT: 318,800.00 CITY : MANSFIELD MA 02048
LIFETIME RATE : 7.62500
UNPAID BALANCE: 318,569.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,256.4579.98761 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222573 MORTGAGORS: WILLIAMS, DOUG
WILLIAMS, SUZANNE
ADDRESS : 918 WINDHAM STREET
MORTGAGE AMT: 316,000.00 CITY : SANTA CRUZCA 95062
LIFETIME RATE : 7.75000
UNPAID BALANCE: 315,776.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,263.8780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222581 MORTGAGORS: SNELL, DAVID
SNELL, KIM
ADDRESS : 14707 TIMBERGREEN
MORTGAGE AMT: 252,200.00 CITY : TOMBALL TX 77377
LIFETIME RATE : 7.12500
UNPAID BALANCE: 251,795.440 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,699.1279.99264 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222607 MORTGAGORS: LAI, YIU
LAI, TSOI
ADDRESS : 1210 SLEEPY HOLLOW LANE
MORTGAGE AMT: 275,000.00 CITY : MILLBRAE CA 94030
LIFETIME RATE : 7.12500
UNPAID BALANCE: 274,780.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,852.7361.11111 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222615 MORTGAGORS: KIRILL, WILLIAM
KIRILL, ANN
ADDRESS : 4339 VENETIA BLVD
MORTGAGE AMT: 387,500.00 CITY : JACKSONVILL FL 32210
LIFETIME RATE : 7.00000
UNPAID BALANCE: 386,862.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,578.0565.95745 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222631 MORTGAGORS: ALLISTER, MARK
ALLISTER, MAHO
ADDRESS : 9902 HIGHCLIFF DRIVE
MORTGAGE AMT: 327,500.00 CITY : SANTA ANA CA 92705
LIFETIME RATE : 7.50000
UNPAID BALANCE: 327,256.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,289.9346.45390 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222649 MORTGAGORS: CARZOLI, RONALD
CARZOLI, DEBRA
ADDRESS : 148 INDIAN HAMMOCK DRIVE
MORTGAGE AMT: 331,875.00 CITY : PONTE VEDRA FL 32082
LIFETIME RATE : 7.50000
UNPAID BALANCE: 331,380.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,320.5275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222664 MORTGAGORS: SMITH, LONZO
SMITH, DEBORAH
ADDRESS : 49 HARBOUR POINT CIRCLE
MORTGAGE AMT: 319,500.00 CITY : FORT WORTHTX 76179
LIFETIME RATE : 7.37500
UNPAID BALANCE: 319,256.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,206.7190.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222706 MORTGAGORS: ROBINSON, ROBERT
ROBINSON, JUDITH
ADDRESS : 1310 TRINITY DR
MORTGAGE AMT: 305,000.00 CITY : ALEXANDRIAVA 22314
LIFETIME RATE : 7.00000
UNPAID BALANCE: 304,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,029.1757.00935 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222714 MORTGAGORS: WOO, RAYMOND
MAZUCA, LISA
ADDRESS : 2354 2356 20TH AVENUE
MORTGAGE AMT: 434,400.00 CITY : SAN FRANCIS CA 94116
LIFETIME RATE : 7.37500
UNPAID BALANCE: 433,566.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,000.2980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222722 MORTGAGORS: CAUGHEY, MARK
STREM CAUGHE, CHARLOTTE
ADDRESS : 1478 HOMANS AVENUE
MORTGAGE AMT: 349,000.00 CITY : SAN LEANDRO CA 94577
LIFETIME RATE : 7.50000
UNPAID BALANCE: 348,740.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,440.2689.71722 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080222995 MORTGAGORS: SCHOENBERGER, STEVEN
ADDRESS : 300 LAKE AVENUE
MORTGAGE AMT: 416,000.00 CITY : NEWTON MA 02461
LIFETIME RATE : 7.75000
UNPAID BALANCE: 416,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,980.2780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080223019 MORTGAGORS: LOCONTE, CARLA
ADDRESS : 350 NORTH STREET
MORTGAGE AMT: 332,000.00 CITY : BOSTON MA 02113
LIFETIME RATE : 8.50000
UNPAID BALANCE: 331,798.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,552.7980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080223217 MORTGAGORS: WHEELER, DEBORAH
ADDRESS : 331 RIVER ROAD
MORTGAGE AMT: 100,000.00 CITY : BOULDER CREEK CA 95006
LIFETIME RATE : 7.75000
UNPAID BALANCE: 100,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 716.4141.23711 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080223266 MORTGAGORS: HESHMATPOUR, GUITY
ADDRESS : 294 RIVIERA DRIVE
MORTGAGE AMT: 345,000.00 CITY : SAN RAFAELCA 94901
LIFETIME RATE : 7.50000
UNPAID BALANCE: 344,743.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,412.2952.27273 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080223530 MORTGAGORS: BATES, BRUCE
BATES, PAULA
ADDRESS : 7 ORCHARD CIRCLE
MORTGAGE AMT: 203,900.00 CITY : HALIFAX MA 02338
LIFETIME RATE : 7.37500
UNPAID BALANCE: 203,644.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,408.2979.99215 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080223548 MORTGAGORS: BOTIC, MUJO
BOTIC, MIRSADA
BOTIC, BAJRO BOTIC, MEJRA
ADDRESS : 540 542 MONICA LANE
MORTGAGE AMT: 347,900.00 CITY : CAMPBELL CA 95008
LIFETIME RATE : 7.50000
UNPAID BALANCE: 347,641.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,432.5789.89664 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224652 MORTGAGORS: KUMPE, JUDY
ADDRESS : 455 EAST HALTERN AVENUE
MORTGAGE AMT: 71,000.00 CITY : GLENDORA CA 91740
LIFETIME RATE : 8.25000
UNPAID BALANCE: 71,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 533.4036.41026 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224660 MORTGAGORS: TOVAR, JOHN
ADDRESS : 1013 HONEYSUCKLE DRIVE
MORTGAGE AMT: 203,920.00 CITY : SAN MARCOSCA 92069
LIFETIME RATE : 7.37500
UNPAID BALANCE: 203,764.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,408.4280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224744 MORTGAGORS: LANDINI, VICTORIA
ADDRESS : 2159 DRIVER LANE
MORTGAGE AMT: 265,100.00 CITY : LA VERNE CA 91750
LIFETIME RATE : 7.50000
UNPAID BALANCE: 264,903.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,853.6282.84375 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224785 MORTGAGORS: SHEYNKMAN, MARAT
SHEYNKMAN, MARINA REYNLIB, ZAKHAR
ADDRESS : 11647 MORRISON STREET
MORTGAGE AMT: 358,000.00 CITY : NORTH HOLLY CA 91601
LIFETIME RATE : 7.37500
UNPAID BALANCE: 357,727.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,472.6280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224793 MORTGAGORS: ROBERSON, RICKI
SENFT, TRICIA
ADDRESS : 1286 GENEVE COURT
MORTGAGE AMT: 255,000.00 CITY : LIVERMORE CA 94550
LIFETIME RATE : 8.25000
UNPAID BALANCE: 254,837.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,915.7375.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080224819 MORTGAGORS: MIGALLEN, ERNIE
MIGALLEN, TRINIDAD
ADDRESS : 1920 SOUTH SHERBOURNE DRI
MORTGAGE AMT: 252,000.00 CITY : LOS ANGELES CA 90034
LIFETIME RATE : 7.62500
UNPAID BALANCE: 251,817.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,783.6486.89655 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225105 MORTGAGORS: CORS, DAVID
CORS, DOROTHY
ADDRESS : 10 ZELOOF DRIVE
MORTGAGE AMT: 273,000.00 CITY : WEST WINDSO NJ 08550
LIFETIME RATE : 7.50000
UNPAID BALANCE: 272,797.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,908.8673.19035 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225378 MORTGAGORS: MEKARI, ALEX
MEKARI, SEANA
ADDRESS : 2408 NORTH PARK STREET
MORTGAGE AMT: 260,300.00 CITY : THOUSAND OA CA 91362
LIFETIME RATE : 8.12500
UNPAID BALANCE: 260,129.720 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,932.7395.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225410 MORTGAGORS: CARVER, JODI
ADDRESS : 1052 Brian Lane.
MORTGAGE AMT: 298,100.00 CITY : WYCOMBE PA 18980
LIFETIME RATE : 6.62500
UNPAID BALANCE: 297,836.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,908.7779.20292 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225428 MORTGAGORS: HEROLD, JOSEPH
IRELAND, KERRY
ADDRESS : 2108 WENDY WAY
MORTGAGE AMT: 340,000.00 CITY : MANHATTAN B CA 90266
LIFETIME RATE : 7.75000
UNPAID BALANCE: 339,760.020 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,435.8177.27273 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225451 MORTGAGORS: KASAJIAN, KENNETH
KASAJIAN, MICHELLE
ADDRESS : 3 ACORN RIDGE
MORTGAGE AMT: 215,900.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.62500
UNPAID BALANCE: 215,743.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,528.1379.99259 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225634 MORTGAGORS: FUTSCHER, JOHN
FUTSCHER, JEANNE
ADDRESS : 18 SUMMERHILL WAY
MORTGAGE AMT: 251,100.00 CITY : SAN RAFAELCA 94903
LIFETIME RATE : 7.50000
UNPAID BALANCE: 250,913.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,755.7390.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225642 MORTGAGORS: KOTOWSKI, JAMES
KOTOWSKI, JULIE
ADDRESS : 102 PESTLE COURT
MORTGAGE AMT: 333,600.00 CITY : FOLSOM CA 95630
LIFETIME RATE : 7.25000
UNPAID BALANCE: 333,339.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,275.7478.49412 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225659 MORTGAGORS: NELSON, CLARKE
NELSON, MARTHA
ADDRESS : 7 BLANCA DRIVE
MORTGAGE AMT: 332,000.00 CITY : NOVATO CA 94947
LIFETIME RATE : 7.87500
UNPAID BALANCE: 331,771.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,407.2380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225675 MORTGAGORS: JACKSON, JOHN
JACKSON, ELIZABETH
ADDRESS : 20 CHEVY CHASE COURT
MORTGAGE AMT: 444,800.00 CITY : LARKSPUR CA 94939
LIFETIME RATE : 7.25000
UNPAID BALANCE: 444,453.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,034.3280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225717 MORTGAGORS: DOW, CHERYL
ADDRESS : 7229 EAST CRIOLLO IRCLE
MORTGAGE AMT: 332,000.00 CITY : ORANGE CA 92869
LIFETIME RATE : 7.37500
UNPAID BALANCE: 331,747.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,293.0480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225766 MORTGAGORS: FEIL, LANCE
SULLIVAN, CAROL
ADDRESS : 50 SAN GABRIEL DRIVE
MORTGAGE AMT: 359,200.00 CITY : FAIRFAX CA 94930
LIFETIME RATE : 7.50000
UNPAID BALANCE: 358,933.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,511.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080225808 MORTGAGORS: TONG, JIEHSHIN
TONG, ROSA LEE
ADDRESS : 9127 MCBRIDE RIVER AVENUE
MORTGAGE AMT: 353,600.00 CITY : FOUNTAIN VA CA 92708
LIFETIME RATE : 7.25000
UNPAID BALANCE: 353,324.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,412.1880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226202 MORTGAGORS: YORKSHIRE, BORIS
ADDRESS : 12992 TRAIL VIEW LANE
MORTGAGE AMT: 425,000.00 CITY : CHINO HILLS CA 91709
LIFETIME RATE : 7.75000
UNPAID BALANCE: 424,700.030 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,044.7669.67213 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226293 MORTGAGORS: STREICHER, YITZCHOK
ADDRESS : 1118 48TH STREET
MORTGAGE AMT: 292,000.00 CITY : BROOKLYN NY 11219
LIFETIME RATE : 7.87500
UNPAID BALANCE: 291,799.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,117.2080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226319 MORTGAGORS: MONTANO, CLAYBORN
MONTANO, JENNY
ADDRESS : 1404 GLENGARRY ROAD
MORTGAGE AMT: 264,000.00 CITY : PASADENA CA 91105
LIFETIME RATE : 7.87500
UNPAID BALANCE: 264,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,914.1880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226335 MORTGAGORS: KATZ, ELAINE
ADDRESS : 101 DENT RD
MORTGAGE AMT: 300,000.00 CITY : STATEN ISLA NY 10308
LIFETIME RATE : 8.50000
UNPAID BALANCE: 299,818.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,306.7592.05278 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226517 MORTGAGORS: BYERS, ZANE
BYERS, CYTHIA
ADDRESS : 248 LAKE POINTE DRIVE
MORTGAGE AMT: 303,500.00 CITY : MC HENRY MD 21541
LIFETIME RATE : 7.50000
UNPAID BALANCE: 302,820.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,122.1279.24282 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226566 MORTGAGORS: KELLEY, BRYAN
KELLEY, ANNA
ADDRESS : 1814 FOREST GATE CIRCLE
MORTGAGE AMT: 500,000.00 CITY : SUGAR LANDTX 77479
LIFETIME RATE : 7.00000
UNPAID BALANCE: 499,177.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,326.5179.16065 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226632 MORTGAGORS: CAFFERY, WILLIAM
CAFFERY, COLLEEN
ADDRESS : 4 PRITCHARD LANE
MORTGAGE AMT: 650,000.00 CITY : WESTPORT CT 06880
LIFETIME RATE : 7.62500
UNPAID BALANCE: 650,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,600.6645.77465 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226780 MORTGAGORS: WALIGORA, MAREK
WALIGORA, MAUREEN
ADDRESS : 1119 DANIEL LANE
MORTGAGE AMT: 327,760.00 CITY : CONCORD CA 94518
LIFETIME RATE : 7.62500
UNPAID BALANCE: 327,522.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,319.8769.00211 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226822 MORTGAGORS: JOHNSON, SCOTT
JOHNSON, ROBIN
ADDRESS : 13 HASKINS RANCH CIRCLE
MORTGAGE AMT: 300,000.00 CITY : DANVILLE CA 94506
LIFETIME RATE : 7.87500
UNPAID BALANCE: 299,793.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,175.2168.18182 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226871 MORTGAGORS: RODRIGUEZ, JUAN
RODRIGUEZ, GRISEL
ADDRESS : 9376 EL ARBOL AVENUE
MORTGAGE AMT: 265,500.00 CITY : FOUNTAIN VA CA 92708
LIFETIME RATE : 7.50000
UNPAID BALANCE: 265,302.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,856.4190.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226939 MORTGAGORS: MONITZ, RONALD
MONITZ, ELSIE
ADDRESS : 5905 BAINBRIDGE COURT
MORTGAGE AMT: 290,000.00 CITY : AGOURA HILL CA 91301
LIFETIME RATE : 7.62500
UNPAID BALANCE: 289,790.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,052.6034.93976 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080226996 MORTGAGORS: FRANCIS, MARK
FRANCIS, IOANNA
ADDRESS : 7854 EAST MARGARET COURT
MORTGAGE AMT: 250,200.00 CITY : ANAHEIM CA 92808
LIFETIME RATE : 7.25000
UNPAID BALANCE: 250,004.820 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,706.8190.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227101 MORTGAGORS: OTSUBO, KEN
OTSUBO, YEN
ADDRESS : 13218 BEACH STREET
MORTGAGE AMT: 288,000.00 CITY : CERRITOS CA 90703
LIFETIME RATE : 7.50000
UNPAID BALANCE: 287,786.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,013.7480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227218 MORTGAGORS: SCHILLING, JOHN
SCHILLING, MELISSA
ADDRESS : 1601 FREEDOM DRIVE
MORTGAGE AMT: 229,148.00 CITY : HOLLISTER CA 95023
LIFETIME RATE : 7.25000
UNPAID BALANCE: 228,969.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,563.1979.84251 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227275 MORTGAGORS: MALMROSE, ROGER
MALMROSE, JUDITH
ADDRESS : 1773 ORCHARD WAY
MORTGAGE AMT: 320,000.00 CITY : PLEASANTONCA 94566
LIFETIME RATE : 7.62500
UNPAID BALANCE: 319,768.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,264.9468.81720 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227283 MORTGAGORS: MCCABE, JOHN
MCCABE, ANN
ADDRESS : 4343 ELENDA STREET
MORTGAGE AMT: 254,300.00 CITY : CULVER CITY CA 90230
LIFETIME RATE : 8.00000
UNPAID BALANCE: 254,300.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,865.9694.99440 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227291 MORTGAGORS: ROBERTSON, MELISSA
WAGNER, BARRY
ADDRESS : 6271 ROUNDHILL DRIVE
MORTGAGE AMT: 288,000.00 CITY : WHITTIER CA 90602
LIFETIME RATE : 7.62500
UNPAID BALANCE: 287,791.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,038.4580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227317 MORTGAGORS: DE ANDRADE, ANTHONY
DE ANDRADE, YOLANDA
ADDRESS : 5671 CABOT DRIVE
MORTGAGE AMT: 279,000.00 CITY : OAKLAND CA 94611
LIFETIME RATE : 6.87500
UNPAID BALANCE: 278,765.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,832.8358.73684 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227325 MORTGAGORS: SKARUPA, ANDREW
WINGATE, LESLIE
ADDRESS : 2518 ALTA PARK LANE
MORTGAGE AMT: 300,000.00 CITY : LA CANADA F CA 91011
LIFETIME RATE : 7.50000
UNPAID BALANCE: 299,777.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,097.6436.18818 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227333 MORTGAGORS: GARCIA, LORENZO
ALVAREZ, MONICA
ADDRESS : 22241 SISSANTE
MORTGAGE AMT: 297,600.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 6.87500
UNPAID BALANCE: 297,349.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,955.0280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227366 MORTGAGORS: MARINO, THOMAS
MARINO, LORI
ADDRESS : 2323 COUNTRY CLUB VISTA S
MORTGAGE AMT: 332,000.00 CITY : GLENDORA CA 91741
LIFETIME RATE : 7.50000
UNPAID BALANCE: 331,753.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,321.3980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227382 MORTGAGORS: GOODHUE, DAVID
GOODHUE, ANN
ADDRESS : 2806 CORONA DRIVE
MORTGAGE AMT: 328,500.00 CITY : DAVIS CA 95616
LIFETIME RATE : 8.00000
UNPAID BALANCE: 328,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,410.4290.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227630 MORTGAGORS: BEYZA, DARIO
BEYZA, MARIA
ADDRESS : 1442 HAMPTON DRIVE
MORTGAGE AMT: 333,000.00 CITY : SUNNYVALE CA 94087
LIFETIME RATE : 8.37500
UNPAID BALANCE: 333,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,531.0490.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227697 MORTGAGORS: ISAACS, MATTHEW
ISAACS, SHERYL
ADDRESS : 24881 VIA SANTA CRUZ
MORTGAGE AMT: 287,200.00 CITY : MISSION VIE CA 92692
LIFETIME RATE : 8.00000
UNPAID BALANCE: 287,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,107.3880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227929 MORTGAGORS: EIDLITZ, REUVEN
EIDLITZ, SARAH BOTUCK, NAOMI
ADDRESS : 69 MCNAMARA ROAD
MORTGAGE AMT: 115,000.00 CITY : SPRING VALLEY NY 10977
LIFETIME RATE : 8.25000
UNPAID BALANCE: 115,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 863.9659.27835 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080227994 MORTGAGORS: FRIEDMAN, JOEL
FRIEDMAN, MARINA
ADDRESS : 4039 NORTH 57TH PLACE
MORTGAGE AMT: 400,000.00 CITY : PHOENIX AZ 85018
LIFETIME RATE : 7.62500
UNPAID BALANCE: 399,419.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,831.1889.81700 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228265 MORTGAGORS: BENAMOU, ANDRE
BENAMOU, KARIN
ADDRESS : 7760 BLOOMFIELD TERRACE
MORTGAGE AMT: 395,000.00 CITY : DUBLIN CA 94568
LIFETIME RATE : 7.50000
UNPAID BALANCE: 394,706.750 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,761.9067.52137 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228281 MORTGAGORS: JAKOWATZ, JAMES
JAKOWATZ, MARGARET
ADDRESS : 21 MAHOGANY DRIVE
MORTGAGE AMT: 455,000.00 CITY : IRVINE CA 92620
LIFETIME RATE : 7.75000
UNPAID BALANCE: 454,678.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,259.6863.63636 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228331 MORTGAGORS: COMAN, STEVEN
GRAY COMAN, LAUREL
ADDRESS : 12 SAN PATRICIO
MORTGAGE AMT: 263,900.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.37500
UNPAID BALANCE: 263,699.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,822.6979.99394 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228349 MORTGAGORS: RODRIGUERA, LAILA
ADDRESS : 24572 VIA DEL RIO
MORTGAGE AMT: 256,000.00 CITY : LAKE FOREST CA 92630
LIFETIME RATE : 7.50000
UNPAID BALANCE: 255,810.010 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,789.9980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228356 MORTGAGORS: WHITE, DELMAR
ADDRESS : 1663 FAIR WAY ROAD
MORTGAGE AMT: 328,500.00 CITY : CARSON CITY NV 89701
LIFETIME RATE : 8.00000
UNPAID BALANCE: 328,279.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,410.4290.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228430 MORTGAGORS: PEABODY, RONALD
WILLIAMSON, RENEE
ADDRESS : 30422 RAINBOW CREST DRIVE
MORTGAGE AMT: 324,000.00 CITY : AGOURA HILL CA 91301
LIFETIME RATE : 7.75000
UNPAID BALANCE: 323,771.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,321.1880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228455 MORTGAGORS: YAROSKO, STEPHEN
YAROSKO, JANICE
ADDRESS : 1706 SUNNY KNOLL
MORTGAGE AMT: 248,000.00 CITY : FULLERTON CA 92835
LIFETIME RATE : 7.12500
UNPAID BALANCE: 247,801.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,670.8271.26437 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228471 MORTGAGORS: BRUNCK, TERENCE
OROSCO, LAURETTA
ADDRESS : 5A CALLE SAN MARTIN
MORTGAGE AMT: 240,000.00 CITY : SANTA FE NM 87501
LIFETIME RATE : 7.12500
UNPAID BALANCE: 239,808.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,616.9243.24324 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228539 MORTGAGORS: NOORI, SHARIF
NOORI, MARIANNE
ADDRESS : 10 CRYSTALGLEN
MORTGAGE AMT: 280,000.00 CITY : ALISO VIEJO CA 92656
LIFETIME RATE : 7.37500
UNPAID BALANCE: 279,786.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,933.8971.97943 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228547 MORTGAGORS: PINA, HENRY
MARTINEZ, MARTHA
MARTINEZ, ARMANDO PINA, ANGELA
ADDRESS : 389 VALE DRIVE
MORTGAGE AMT: 293,000.00 CITY : SAN JOSE CA 95123
LIFETIME RATE : 7.87500
UNPAID BALANCE: 292,798.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,124.4593.01587 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228562 MORTGAGORS: THOMPSON, RICHARD
BILODEAU, RANDAL
ADDRESS : 8300 GONZAGA AVENUE
MORTGAGE AMT: 285,000.00 CITY : LOS ANGELES CA 90045
LIFETIME RATE : 8.25000
UNPAID BALANCE: 284,635.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,141.1176.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228596 MORTGAGORS: OSEGUERA, MARTIN
RODRIGUEZ, HERIBERTO ACEVEDO, ANTONIO
ADDRESS : 33149 GREAT SALT LAKE DR
MORTGAGE AMT: 267,900.00 CITY : FREMONT CA 94555
LIFETIME RATE : 8.25000
UNPAID BALANCE: 267,729.170 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,012.6495.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228661 MORTGAGORS: SCHILDMEYER, JEFFREY
ADDRESS : 2115 DELAND COURT
MORTGAGE AMT: 303,200.00 CITY : ALPINE CA 91901
LIFETIME RATE : 7.50000
UNPAID BALANCE: 302,974.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,120.0280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228729 MORTGAGORS: HERNANDEZ, JUAN
HERNANDEZ, ANNE
ADDRESS : 4051 BYCROFT CIRCLE
MORTGAGE AMT: 261,600.00 CITY : YORBA LINDA CA 92886
LIFETIME RATE : 7.25000
UNPAID BALANCE: 261,395.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,784.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228851 MORTGAGORS: FIORELLA, CORRADO
ADDRESS : 1319 NORTON AVENUE
MORTGAGE AMT: 300,000.00 CITY : GLENDALE CA 91202
LIFETIME RATE : 7.37500
UNPAID BALANCE: 299,542.040 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0354.54545 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080228901 MORTGAGORS: YANKOVICH, JOSEPH
YANKOVICH, ROSEMARY
ADDRESS : 4351 MIRALESTE DRIVE
MORTGAGE AMT: 278,000.00 CITY : RANCHO PALO CA 90275
LIFETIME RATE : 7.37500
UNPAID BALANCE: 276,774.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,920.0869.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229081 MORTGAGORS: FOREMAN, STANLEY
ADDRESS : 1034 FULLER DRIVE
MORTGAGE AMT: 262,500.00 CITY : CLAREMONT CA 91711
LIFETIME RATE : 6.75000
UNPAID BALANCE: 262,273.990 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,702.5770.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229172 MORTGAGORS: NGUYEN, HUYEN
ADDRESS : 1835 LIBRETTO COURT
MORTGAGE AMT: 285,700.00 CITY : SAN JOSE CA 95131
LIFETIME RATE : 7.62500
UNPAID BALANCE: 284,864.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,022.1764.20225 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229222 MORTGAGORS: THOMAS, ERIC
ADDRESS : 4481 BUCKTHORN COURT
MORTGAGE AMT: 285,000.00 CITY : CONCORD CA 94521
LIFETIME RATE : 7.00000
UNPAID BALANCE: 284,531.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,896.1195.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229727 MORTGAGORS: WILLIAMS, WILLIAM RAY
WILLIAMS, PEGGY
ADDRESS : 2758 TRANQUILITY LANE
MORTGAGE AMT: 371,500.00 CITY : SANTA ROSACA 95409
LIFETIME RATE : 6.87500
UNPAID BALANCE: 369,565.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,440.4952.69504 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229735 MORTGAGORS: EHRESMAN, MICHAEL
GAIL, GERALDINE
ADDRESS : 3381 JULIE LANE
MORTGAGE AMT: 296,000.00 CITY : SANTA CRUZCA 95062
LIFETIME RATE : 7.87500
UNPAID BALANCE: 295,796.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,146.2180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229834 MORTGAGORS: FORD, PHILIP
PRING FORD, MADELINE
ADDRESS : 1820 AVENIDA MIMOSA
MORTGAGE AMT: 290,000.00 CITY : ENCINITAS CA 92024
LIFETIME RATE : 7.37500
UNPAID BALANCE: 289,779.330 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,002.9680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229875 MORTGAGORS: ROHNER, ROBERT
ROHNER, RHONDA
ADDRESS : 27674 KLAUS COURT
MORTGAGE AMT: 295,900.00 CITY : HAYWARD CA 94542
LIFETIME RATE : 7.50000
UNPAID BALANCE: 295,680.400 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,068.9879.99459 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229891 MORTGAGORS: DAVIES, HERBERT
DAVIES, MAILA
ADDRESS : 208 VIA GRAZIANA
MORTGAGE AMT: 400,000.00 CITY : NEWPORT BEA CA 92663
LIFETIME RATE : 7.62500
UNPAID BALANCE: 399,710.490 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,831.1857.97101 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080229966 MORTGAGORS: WILLIAMSON, RICHARD
WILLIAMSON, LINDA
ADDRESS : 2710 EAST SNOWFIELD STREE
MORTGAGE AMT: 278,400.00 CITY : BREA CA 92821
LIFETIME RATE : 7.87500
UNPAID BALANCE: 278,106.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,018.6080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230287 MORTGAGORS: LEIZEROWITZ, MIRIAM
LEIZEROWITZ, ITZCHAK
ADDRESS : 102 HUGUENOT AVE
MORTGAGE AMT: 375,000.00 CITY : ENGLEWOOD NJ 07631
LIFETIME RATE : 8.37500
UNPAID BALANCE: 375,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,850.2760.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230378 MORTGAGORS: MACBETH, GARY
MACBETH, ALISON
ADDRESS : 4190 COURT DR
MORTGAGE AMT: 397,000.00 CITY : SANTA CRUZCA 95062
LIFETIME RATE : 7.25000
UNPAID BALANCE: 396,690.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,708.2448.12121 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230386 MORTGAGORS: DOYLE, RICHARD
DOYLE, NANCY
ADDRESS : 516 24TH PLACE
MORTGAGE AMT: 264,900.00 CITY : HERMOSA BEA CA 90254
LIFETIME RATE : 7.50000
UNPAID BALANCE: 264,703.410 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,852.2259.66216 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230477 MORTGAGORS: BOLSEGA, VICKI
ADDRESS : 524 ROSWELL AVENUE
MORTGAGE AMT: 270,750.00 CITY : LONG BEACHCA 90814
LIFETIME RATE : 7.87500
UNPAID BALANCE: 270,750.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,963.1395.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230626 MORTGAGORS: STUEBING, BRUCE
STUEBING, JENNIFER
ADDRESS : 13097 TORREY PINES DRIVE
MORTGAGE AMT: 249,900.00 CITY : AUBURN CA 95602
LIFETIME RATE : 7.75000
UNPAID BALANCE: 249,900.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,790.3270.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230840 MORTGAGORS: FERNICOLA, LAURA
WEST, WILLIAM
ADDRESS : 552 CORNELL AVENUE
MORTGAGE AMT: 76,900.00 CITY : DOVER TOWNS NJ 08753
LIFETIME RATE : 7.50000
UNPAID BALANCE: 76,842.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 537.7065.78272 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230881 MORTGAGORS: SIROKA, ELIOT
DE GHETTO, LAURA
ADDRESS : 35 BOYDEN RD
MORTGAGE AMT: 424,800.00 CITY : WRENTHAM MA 02093
LIFETIME RATE : 7.62500
UNPAID BALANCE: 424,183.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,006.7190.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230923 MORTGAGORS: ALVANI, SEYED
TIVAY, PARICHEHR
ADDRESS : 8717 8719 RANGELY AVENUE
MORTGAGE AMT: 308,000.00 CITY : WEST HOLLYW CA 90048
LIFETIME RATE : 7.62500
UNPAID BALANCE: 307,777.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,180.0180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080230956 MORTGAGORS: BULLOCK, EDWARD
BULLOCK, YVONNE
ADDRESS : 3219 CHERRY VALLEY
MORTGAGE AMT: 300,000.00 CITY : FAIRFIELD CA 94533
LIFETIME RATE : 7.62500
UNPAID BALANCE: 299,782.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.3880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231004 MORTGAGORS: AGARPO, RAYMOND
AGARPO, KERRY
ADDRESS : 814 DEDERICK COURT
MORTGAGE AMT: 379,700.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.62500
UNPAID BALANCE: 379,425.180 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,687.5079.99612 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231020 MORTGAGORS: HULL, TODD
HULL, SANDRA
ADDRESS : 24 VIA HACIENDA
MORTGAGE AMT: 310,700.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.12500
UNPAID BALANCE: 310,451.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,093.2594.99263 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231038 MORTGAGORS: KAJS, JOHN
ARECHIGA KAJS, AUDREY
ADDRESS : 15413 MONTOYA COVE
MORTGAGE AMT: 111,050.00 CITY : AUSTIN TX 78717
LIFETIME RATE : 7.37500
UNPAID BALANCE: 110,965.490 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 767.0079.99568 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231046 MORTGAGORS: WOLDEMAR, CHRISTOPHE
MC GINTY, ERIN MADDOX, ANN
ADDRESS : 4680 SMITH GRADE
MORTGAGE AMT: 543,750.00 CITY : SANTA CRUZCA 95060
LIFETIME RATE : 7.62500
UNPAID BALANCE: 543,356.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,848.6375.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231053 MORTGAGORS: FOSS, TOM
FOSS, STANCIE
ADDRESS : 1644 ALISO AVENUE
MORTGAGE AMT: 320,000.00 CITY : COSTA MESACA 92627
LIFETIME RATE : 7.37500
UNPAID BALANCE: 320,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,210.1662.13592 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231079 MORTGAGORS: SIMON, CANTRELL
JONES, TRACI
ADDRESS : 2111 NORTH FREEMAN STREET
MORTGAGE AMT: 276,000.00 CITY : SANTA ANA CA 92706
LIFETIME RATE : 7.25000
UNPAID BALANCE: 276,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,882.8180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231087 MORTGAGORS: MITS, MARK
TANAKA MITS, KATHERINE
ADDRESS : 1145 CORRALES LANE
MORTGAGE AMT: 247,600.00 CITY : CHULA VISTA CA 91910
LIFETIME RATE : 7.75000
UNPAID BALANCE: 247,425.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,773.8479.35897 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231111 MORTGAGORS: KEUNG LAM, SIMON
YEE LAM, THERESA
ADDRESS : 7306 ALEXIS MANOR PLACE
MORTGAGE AMT: 420,000.00 CITY : SAN JOSE CA 95120
LIFETIME RATE : 7.25000
UNPAID BALANCE: 419,672.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,865.1462.22222 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231145 MORTGAGORS: SULLIVAN, SCOTT
SULLIVAN, CAROL
ADDRESS : 117 LOIRE COURT
MORTGAGE AMT: 325,250.00 CITY : MARTINEZ CA 94553
LIFETIME RATE : 7.12500
UNPAID BALANCE: 324,989.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,191.2794.99318 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231186 MORTGAGORS: KOENIG, JAMES
KOENIG, BECKY
ADDRESS : 5533 SHEFFIELD AVE
MORTGAGE AMT: 248,000.00 CITY : RIVERSIDE CA 92506
LIFETIME RATE : 7.12500
UNPAID BALANCE: 247,801.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,670.8380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231202 MORTGAGORS: BIDDICK, JOHN
BIDDICK, DEBORA
ADDRESS : 1046 WEST CRESCENT AVENUE
MORTGAGE AMT: 160,000.00 CITY : REDLANDS CA 92373
LIFETIME RATE : 7.50000
UNPAID BALANCE: 159,881.250 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,118.7580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231244 MORTGAGORS: MORISAKO, COLIN
MORISAKO, LINDA
ADDRESS : 1931 WEST 236TH STREET
MORTGAGE AMT: 411,200.00 CITY : TORRANCE CA 90501
LIFETIME RATE : 6.87500
UNPAID BALANCE: 410,753.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,701.3080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231400 MORTGAGORS: LONG, HOWARD
LONG, MARY
ADDRESS : 213 SILVERMINE AVENUE
MORTGAGE AMT: 233,000.00 CITY : NORWALK CT 06850
LIFETIME RATE : 7.87500
UNPAID BALANCE: 232,839.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,689.4175.16129 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231442 MORTGAGORS: SANFORD, HARRIS
ADDRESS : 6340 SNOWBERRY COURT
MORTGAGE AMT: 259,920.00 CITY : GILROY CA 95020
LIFETIME RATE : 8.12500
UNPAID BALANCE: 259,749.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.9080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231566 MORTGAGORS: CLOONAN, JACK
CLOONAN, MARY
ADDRESS : 22391 WOODGROVE ROAD
MORTGAGE AMT: 204,000.00 CITY : LAKE FOREST CA 92630
LIFETIME RATE : 7.75000
UNPAID BALANCE: 203,794.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,461.4880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231582 MORTGAGORS: LADD, LORI
LADD, BRETT
ADDRESS : 1365 BROMMER STREET
MORTGAGE AMT: 260,000.00 CITY : SANTA CRUZCA 95062
LIFETIME RATE : 7.62500
UNPAID BALANCE: 259,811.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,840.2780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231921 MORTGAGORS: PALMER, CHRISTOPHE
KARG, DIANA
ADDRESS : 14 LAS CRUCES
MORTGAGE AMT: 288,000.00 CITY : IRVINE CA 92614
LIFETIME RATE : 7.87500
UNPAID BALANCE: 288,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,088.2080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080231954 MORTGAGORS: MATEO, CRISPIN
MATEO, EUNICE
ADDRESS : 301 CASTILE WAY
MORTGAGE AMT: 435,000.00 CITY : SOUTH SAN F CA 94080
LIFETIME RATE : 7.75000
UNPAID BALANCE: 435,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,116.4075.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232135 MORTGAGORS: CAPURSO, KATHLEEN
ADDRESS : 470 S MONROE STREET
MORTGAGE AMT: 350,000.00 CITY : SAN JOSE CA 95128
LIFETIME RATE : 7.87500
UNPAID BALANCE: 350,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,537.7480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232150 MORTGAGORS: ASHFORD, ROY
ASHFORD, MARY
ADDRESS : 4330 OAKWOOD AVENUE
MORTGAGE AMT: 860,000.00 CITY : LA CANADA F CA 91011
LIFETIME RATE : 7.25000
UNPAID BALANCE: 859,329.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 5,866.7268.25397 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 103 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232226 MORTGAGORS: STEwART, MICHAEL
ADDRESS : 350 SHEFFIELD COURT
MORTGAGE AMT: 458,400.00 CITY : CAMPBELL CA 95125
LIFETIME RATE : 8.50000
UNPAID BALANCE: 458,400.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,524.7080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232523 MORTGAGORS: PANDITA, RAVINDER
ADDRESS : 797 FRATIS STREET
MORTGAGE AMT: 189,825.00 CITY : FOLSOM CA 95630
LIFETIME RATE : 7.25000
UNPAID BALANCE: 189,676.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,294.9589.90097 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232531 MORTGAGORS: MAGRI, JAMES
MAGRI, CELESTE
ADDRESS : 802 DEDERICK COURT
MORTGAGE AMT: 350,000.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.12500
UNPAID BALANCE: 349,720.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,358.0276.49805 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232549 MORTGAGORS: HENNESAY, ARTHUR
KOIKE HENNES, COLLEEN
ADDRESS : 31 PLUSHSTONE
MORTGAGE AMT: 189,100.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.37500
UNPAID BALANCE: 188,956.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,306.0779.99391 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232580 MORTGAGORS: KELLEY, PHILIP
KELLEY, CLAUDIA
ADDRESS : 531 PROVO COURT
MORTGAGE AMT: 294,700.00 CITY : RENO NV 89511
LIFETIME RATE : 7.50000
UNPAID BALANCE: 294,481.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,060.5989.98995 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232705 MORTGAGORS: PATTMAN, JAMES
PATTMAN, PATSY
ADDRESS : 335 CROSSHILL DRIVE
MORTGAGE AMT: 282,500.00 CITY : ROSWELL GA 30075
LIFETIME RATE : 7.87500
UNPAID BALANCE: 282,305.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,048.3286.92308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232796 MORTGAGORS: REES, JON
REES, KELLEY
ADDRESS : 732 MILL STREAM ROAD
MORTGAGE AMT: 258,000.00 CITY : PONTE VEDRA FL 32082
LIFETIME RATE : 7.62500
UNPAID BALANCE: 257,813.270 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,826.1192.50296 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080232812 MORTGAGORS: ECHOLS, CURTIS
ECHOLS, SUE
ADDRESS : 2015 HILLCREST COURT
MORTGAGE AMT: 297,600.00 CITY : MCKINNEY TX 75070
LIFETIME RATE : 7.25000
UNPAID BALANCE: 297,134.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1679.14894 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233166 MORTGAGORS: LAVINE, CHARLES
LAVINE, JANICE
ADDRESS : 1812 BAGLEY AVENUE
MORTGAGE AMT: 391,000.00 CITY : LOS ANGELES CA 90035
LIFETIME RATE : 7.50000
UNPAID BALANCE: 391,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,733.9378.35671 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233208 MORTGAGORS: YOUSEFI, ARPIK
YOUSEFI, OFELIYA
ADDRESS : 2300 Canada Blvd.
MORTGAGE AMT: 334,000.00 CITY : GLENDALE CA 91208
LIFETIME RATE : 8.50000
UNPAID BALANCE: 334,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,568.1787.89474 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233380 MORTGAGORS: GEORGIOU, KYRIACOS
GEORGIOU, BONNIE
ADDRESS : 8200 02 MILLMAN STREET
MORTGAGE AMT: 300,000.00 CITY : PHILADELPHI PA 19118
LIFETIME RATE : 7.75000
UNPAID BALANCE: 299,788.260 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,149.2446.51163 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233463 MORTGAGORS: MERRY, THOMAS
MERRY, MARY
ADDRESS : 1371 BUCKWHEAT COURT
MORTGAGE AMT: 287,200.00 CITY : GARDNERVILL NV 89410
LIFETIME RATE : 8.00000
UNPAID BALANCE: 287,007.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,107.3780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233489 MORTGAGORS: SCHWAB, SCOTT
SCHWAB, PRISCILLA
ADDRESS : 1705 LOMAX LANE
MORTGAGE AMT: 278,400.00 CITY : REDONDO BEA CA 90278
LIFETIME RATE : 7.37500
UNPAID BALANCE: 278,188.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,922.8480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233497 MORTGAGORS: RUDISILL, DOUGLAS
RUDISILL, NANCY
ADDRESS : 4210 ROLLING OAKS DRIVE
MORTGAGE AMT: 365,600.00 CITY : GRANITE BAY CA 95746
LIFETIME RATE : 7.25000
UNPAID BALANCE: 365,314.790 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,494.0480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233513 MORTGAGORS: BATSHON, NAJIB
BATSHON, DEEB BATSNON, FIFI
ADDRESS : 38 40 HERMOSA AVENUE
MORTGAGE AMT: 450,000.00 CITY : MILLBRAE CA 94030
LIFETIME RATE : 7.12500
UNPAID BALANCE: 449,640.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,031.7375.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233521 MORTGAGORS: HARRIGAN, ROBERT
HARRIGAN, FLORIZELLA
ADDRESS : 773 BEATTY COURT
MORTGAGE AMT: 450,000.00 CITY : EL DORADO H CA 95762
LIFETIME RATE : 8.12500
UNPAID BALANCE: 449,705.640 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,341.2469.01840 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233547 MORTGAGORS: CASTANEDA, GUILLERMO
CASTANEDA, AMALIA
ADDRESS : 34 DOLORES STREET
MORTGAGE AMT: 300,000.00 CITY : SAN RAFAELCA 94901
LIFETIME RATE : 7.00000
UNPAID BALANCE: 299,754.090 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,995.9175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233570 MORTGAGORS: KEELY, ROBERT
ADDRESS : 2385 ROSCOMARE ROAD
MORTGAGE AMT: 262,000.00 CITY : LOS ANGELES CA 90077
LIFETIME RATE : 7.87500
UNPAID BALANCE: 261,819.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,899.6880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233687 MORTGAGORS: TOOTLA, HOOSAIN
TOOTLA, MEHRUNNISA
ADDRESS : 3624 WESTWOOD BOULEVARD
MORTGAGE AMT: 95,920.00 CITY : LOS ANGELES CA 90034
LIFETIME RATE : 8.25000
UNPAID BALANCE: 95,858.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 720.6280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080233703 MORTGAGORS: BARTELL, ROBERT
BARTELL, ALINA
ADDRESS : 1212 FEDERAL AVENUE EAST
MORTGAGE AMT: 300,000.00 CITY : SEATTLE WA 98102
LIFETIME RATE : 8.25000
UNPAID BALANCE: 299,808.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,253.8044.44444 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080234081 MORTGAGORS: GRAJEWSKI, ROBERT
GRAJEWSKI, BONNIE
ADDRESS : 185 CINNAMON RIDGE ROAD
MORTGAGE AMT: 248,800.00 CITY : BREA CA 92821
LIFETIME RATE : 7.50000
UNPAID BALANCE: 248,615.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,739.6579.48882 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080234339 MORTGAGORS: RYAN, DANIEL
RYAN, MELITA
ADDRESS : 1280 WABASH STREET
MORTGAGE AMT: 465,600.00 CITY : PASADENA CA 91103
LIFETIME RATE : 7.25000
UNPAID BALANCE: 465,600.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,176.2180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080234834 MORTGAGORS: HUERTA, HENRY
HUERTA, MARTHA
ADDRESS : 12416 CARNITHIA DRIVE
MORTGAGE AMT: 276,000.00 CITY : WHITTIER CA 90601
LIFETIME RATE : 7.50000
UNPAID BALANCE: 275,795.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,929.8477.20280 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235492 MORTGAGORS: JENNINGS, GARY
POYNTER, JOHN
ADDRESS : 683 CAROLINA STREET
MORTGAGE AMT: 329,000.00 CITY : SAN FRANCIS CA 94107
LIFETIME RATE : 7.75000
UNPAID BALANCE: 328,767.790 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,357.0068.68476 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235518 MORTGAGORS: DIECKILMAN, KEVIN
DIECKILMAN, ANNA
ADDRESS : 1273 TRABUCO OAK DRIVE
MORTGAGE AMT: 309,018.00 CITY : SIMI VALLEY CA 93065
LIFETIME RATE : 7.62500
UNPAID BALANCE: 308,794.340 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,187.2189.99983 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235617 MORTGAGORS: LA BRANCHE, WILLIAM
LA BRANCHE, CAROL
ADDRESS : 374 HYACINTH WAY
MORTGAGE AMT: 304,000.00 CITY : SAN RAFAELCA 94903
LIFETIME RATE : 7.12500
UNPAID BALANCE: 303,756.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,048.1080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235666 MORTGAGORS: COLEMAN, PAUL
TONAI, DANA
ADDRESS : 13485 HERRICK AVENUE
MORTGAGE AMT: 260,000.00 CITY : SYLMAR CA 91342
LIFETIME RATE : 7.62500
UNPAID BALANCE: 259,811.820 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,840.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235724 MORTGAGORS: TAI LAI, THOMAS
LAI, CAROLYN
ADDRESS : 15 MORNING STAR COURT
MORTGAGE AMT: 500,000.00 CITY : NOVATO CA 94945
LIFETIME RATE : 7.12500
UNPAID BALANCE: 499,600.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,368.5969.93007 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235872 MORTGAGORS: MC CORMAC, DOUGLAS
MC CORMAC, CHERYL
ADDRESS : 220 AVENUE F
MORTGAGE AMT: 390,000.00 CITY : REDONDO BEA CA 90277
LIFETIME RATE : 7.25000
UNPAID BALANCE: 389,695.760 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,660.4962.90323 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235898 MORTGAGORS: GENOVESE, JOHN
GENOVESE, PATRICIA
ADDRESS : 134 HUNTERS LANE
MORTGAGE AMT: 350,000.00 CITY : DEVON PA 19333
LIFETIME RATE : 8.00000
UNPAID BALANCE: 350,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,568.1872.91667 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235914 MORTGAGORS: MAN, SIUKEUNG
KING CHAN, CHRISTIN
ADDRESS : 3338 COUNTRYSIDE DRIVE
MORTGAGE AMT: 488,000.00 CITY : SAN MATEO CA 94403
LIFETIME RATE : 7.50000
UNPAID BALANCE: 487,637.830 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,412.1780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080235989 MORTGAGORS: JORDAN, PATRICIA
ADDRESS : 7 WINDSOR AVENUE
MORTGAGE AMT: 288,000.00 CITY : SAN RAFAELCA 94901
LIFETIME RATE : 8.25000
UNPAID BALANCE: 287,816.350 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,163.6576.80000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080236326 MORTGAGORS: MARKLE, MADELYNE
ADDRESS : 1801 WELFORD LANE
MORTGAGE AMT: 258,750.00 CITY : HAYWARD CA 94544
LIFETIME RATE : 7.50000
UNPAID BALANCE: 258,557.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,809.2275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237688 MORTGAGORS: BARTELL, ROBERT
BARTELL, ALINA
ADDRESS : 330 24TH AVENUE EAST
MORTGAGE AMT: 304,000.00 CITY : SEATTLE WA 98112
LIFETIME RATE : 8.25000
UNPAID BALANCE: 303,806.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,283.8580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237704 MORTGAGORS: THOMAS, MARK
THOMAS, LYNDA
ADDRESS : 5 WESTPORT
MORTGAGE AMT: 301,300.00 CITY : IRVINE CA 92620
LIFETIME RATE : 8.25000
UNPAID BALANCE: 301,107.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,263.5777.25641 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237753 MORTGAGORS: MAIMONE, FRANK
MAIMONE, LORI
ADDRESS : 29432 CLIPPER WAY
MORTGAGE AMT: 280,000.00 CITY : LAGUNA NIGU CA 92677
LIFETIME RATE : 7.50000
UNPAID BALANCE: 279,792.200 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,957.8058.94737 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237787 MORTGAGORS: CLARK, DAVID
CLARK, BOBBE
ADDRESS : 4704 SILVERADO TRAIL
MORTGAGE AMT: 540,000.00 CITY : CALISTOGA CA 94515
LIFETIME RATE : 7.37500
UNPAID BALANCE: 539,589.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,729.6541.53846 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237795 MORTGAGORS: STENBERG, ANGELA
BURK, AARON
ADDRESS : 6272 BOTHELL CIRCLE
MORTGAGE AMT: 264,000.00 CITY : SAN JOSE CA 95123
LIFETIME RATE : 7.87500
UNPAID BALANCE: 263,818.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,914.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080237829 MORTGAGORS: BLODGETT, CATHY
ADDRESS : 243 WEST 5TH STREET
MORTGAGE AMT: 57,000.00 CITY : SAN DIMAS CA 91773
LIFETIME RATE : 7.75000
UNPAID BALANCE: 56,959.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 408.3620.95588 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080238256 MORTGAGORS: GARCIA, JAMES
GARCIA, CAROLYN
ADDRESS : 2055 TULARE DRIVE
MORTGAGE AMT: 292,000.00 CITY : PALM SPRING CA 92264
LIFETIME RATE : 8.00000
UNPAID BALANCE: 292,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,142.5980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080238264 MORTGAGORS: FRIGARD, TODD
FRIGARD, LYNDA
ADDRESS : 4721 TOBI DRIVE
MORTGAGE AMT: 316,000.00 CITY : CONCORD CA 94521
LIFETIME RATE : 8.00000
UNPAID BALANCE: 315,787.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,318.7080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080238306 MORTGAGORS: GUARNA, STELLA
ADDRESS : 2 VISTA DRIVE
MORTGAGE AMT: 280,000.00 CITY : Morganville NJ 07751
LIFETIME RATE : 7.75000
UNPAID BALANCE: 279,802.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,005.9574.67000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080238983 MORTGAGORS: BARNETT, DONALD
DALHN, DIANE
ADDRESS : 853 HARTFORD AVNUE
MORTGAGE AMT: 372,000.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.87500
UNPAID BALANCE: 372,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,697.2680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242449 MORTGAGORS: HILDEBRAND, GAYLE
YOUNG, JEFFREY
ADDRESS : 120 COLLEGE TERRACE COURT
MORTGAGE AMT: 360,000.00 CITY : LOS GATOS CA 95030
LIFETIME RATE : 7.75000
UNPAID BALANCE: 360,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,579.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242464 MORTGAGORS: MCCORMICK, RICHARD
MCCORMICK, JOAN
ADDRESS : 131 GREENBRIER COURT
MORTGAGE AMT: 256,000.00 CITY : APTOS CA 95003
LIFETIME RATE : 8.00000
UNPAID BALANCE: 256,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,878.4460.95238 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242548 MORTGAGORS: KUDER, HAL
ADDRESS : 4 VIA CORBINA
MORTGAGE AMT: 245,150.00 CITY : RANCHO SANT CA 92688
LIFETIME RATE : 7.37500
UNPAID BALANCE: 244,963.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,693.2079.99099 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242605 MORTGAGORS: STICE, JONATHAN
STICE, TRACY
ADDRESS : 17811 ROMELLE AVENUE
MORTGAGE AMT: 310,500.00 CITY : SANTA ANA A CA 92705
LIFETIME RATE : 7.87500
UNPAID BALANCE: 310,286.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,251.3490.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242613 MORTGAGORS: WU, GLADYS
ADDRESS : 2997 RUBINO CIRCLE
MORTGAGE AMT: 317,100.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.25000
UNPAID BALANCE: 316,852.620 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,163.1979.98386 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242712 MORTGAGORS: HOANG, PAUL
HOANG, KIM
ADDRESS : 802 GREEN LANE
MORTGAGE AMT: 340,000.00 CITY : REDONDO BEA CA 90278
LIFETIME RATE : 7.62500
UNPAID BALANCE: 340,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,406.5080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242753 MORTGAGORS: HERRON, CRAIG
FORSTING, DIANA
ADDRESS : 172 LEUCADIA ROAD
MORTGAGE AMT: 362,392.00 CITY : LA HABRA HE CA 90631
LIFETIME RATE : 7.25000
UNPAID BALANCE: 362,392.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,472.1580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080242779 MORTGAGORS: CENTRELLA, ANTHONY
ADDRESS : LOT 5A THORNTON CIRCLE
MORTGAGE AMT: 275,000.00 CITY : MIDDLETON MA 01949
LIFETIME RATE : 7.62500
UNPAID BALANCE: 275,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,946.4472.36842 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080243009 MORTGAGORS: BROWN, GARY
HONSBERGER, PAMELA
ADDRESS : 2837 SAWGRASS DRIVE
MORTGAGE AMT: 373,550.00 CITY : SANTA ANA CA 92706
LIFETIME RATE : 7.87500
UNPAID BALANCE: 373,292.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,708.5089.99578 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245293 MORTGAGORS: RUNYON, TIMOTHY
ADDRESS : 3009 RUBINO CIRCLE
MORTGAGE AMT: 310,400.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.37500
UNPAID BALANCE: 310,163.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,143.8679.98371 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245327 MORTGAGORS: GRIDNEV, ALEXANDER
GRIDNEV, NADEJDA
ADDRESS : 3011 RUBINO CIRCLE
MORTGAGE AMT: 292,650.00 CITY : SAN JOSE CA 95125
LIFETIME RATE : 7.87500
UNPAID BALANCE: 292,448.600 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,121.9279.98961 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245616 MORTGAGORS: CHIARELLI, JACK
CHIARELLI, JENNIFER
ADDRESS : 108 ST PIERRE WAY
MORTGAGE AMT: 286,757.00 CITY : MARTINEZ CA 94553
LIFETIME RATE : 6.87500
UNPAID BALANCE: 278,888.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,883.7992.20008 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245756 MORTGAGORS: PONCE, F
PONCE, MARIE
ADDRESS : 2 CRESTWOOD COURT
MORTGAGE AMT: 400,000.00 CITY : HOLMDEL NJ 07733
LIFETIME RATE : 7.37500
UNPAID BALANCE: 400,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,762.7080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245764 MORTGAGORS: LEE, KON
LEE, VICTORIA
ADDRESS : 10293 MINER PLACE
MORTGAGE AMT: 310,000.00 CITY : CUPERTINO CA 95014
LIFETIME RATE : 7.75000
UNPAID BALANCE: 310,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,220.8844.28571 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245806 MORTGAGORS: SIDOPOULOS, KONSTANTINOS
ADDRESS : 37 POWDER HILL ROAD
MORTGAGE AMT: 307,500.00 CITY : Bolton MA 01740
LIFETIME RATE : 7.37500
UNPAID BALANCE: 307,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.8375.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245814 MORTGAGORS: FRASURE, ELMER
FRASURE, JULIA
ADDRESS : 8221 STACEY ROAD
MORTGAGE AMT: 255,000.00 CITY : AlexandriaVA 22308
LIFETIME RATE : 7.37500
UNPAID BALANCE: 254,805.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,761.2275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245822 MORTGAGORS: CRISOSTOMO, MARK
CRISOSTOMO, CARESSE
ADDRESS : 11872 SWEETBRIAR LANE
MORTGAGE AMT: 254,700.00 CITY : San Diego CA 92131
LIFETIME RATE : 7.87500
UNPAID BALANCE: 254,524.710 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,846.7590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245848 MORTGAGORS: KOLESNIKOFF, NICHOLAI
ADDRESS : 10813 FIELDWOOD DRIVE
MORTGAGE AMT: 288,750.00 CITY : Fairfax VA 22030
LIFETIME RATE : 7.37500
UNPAID BALANCE: 288,530.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,994.3275.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245871 MORTGAGORS: KUNZIK, JODENE
KUNZIK, GREG BRENNAN, SAMUEL
ADDRESS : 18839 WEST WOODDALE TRAIL
MORTGAGE AMT: 277,400.00 CITY : Lake VillaIL 60046
LIFETIME RATE : 8.00000
UNPAID BALANCE: 277,213.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,035.4693.53000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245889 MORTGAGORS: REYNOLDS, TODD
REYNOLDS, LISA
ADDRESS : 440 EL CERRITO AVE.
MORTGAGE AMT: 304,500.00 CITY : Piedmont CA 94611
LIFETIME RATE : 7.37500
UNPAID BALANCE: 304,268.300 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,103.1154.86000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245913 MORTGAGORS: BROOKS, THOMAS
BROOKS, GAYLE
ADDRESS : 2309 ROCKEFELLER LANE #A
MORTGAGE AMT: 284,900.00 CITY : Redondo Beach CA 90278
LIFETIME RATE : 7.37500
UNPAID BALANCE: 284,683.210 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,967.7374.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245939 MORTGAGORS: HENRY, CHRISTOPHER
HENRY, DELONNIE
ADDRESS : 6842 SAINT ALBANS ROAD
MORTGAGE AMT: 276,500.00 CITY : Mc Lean VA 22101
LIFETIME RATE : 8.37500
UNPAID BALANCE: 274,356.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,101.6070.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/28
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245947 MORTGAGORS: GLODE, ROSANNA
GLODE, ERNEST
ADDRESS : 13907 DANIELLE COURT
MORTGAGE AMT: 260,000.00 CITY : SEMINOLE FL 33776
LIFETIME RATE : 7.87500
UNPAID BALANCE: 259,821.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,885.1872.22000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245962 MORTGAGORS: LOVEJOY, J.
LOVEJOY, KATHLEEN
ADDRESS : 4603 NE 38TH ST.
MORTGAGE AMT: 315,000.00 CITY : Seattle WA 98105
LIFETIME RATE : 7.37500
UNPAID BALANCE: 314,760.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,175.6351.64000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080245970 MORTGAGORS: GERHART, WILLIAM
GERHART, DAVELYN
ADDRESS : 330 ALPINE HEIGHTS ROAD
MORTGAGE AMT: 315,600.00 CITY : Alpine CA 91901
LIFETIME RATE : 7.37500
UNPAID BALANCE: 315,359.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,179.7780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246143 MORTGAGORS: OWEN, JAMES
OWEN, JEANNE
ADDRESS : 2006 BIRTHDAY COURT
MORTGAGE AMT: 388,850.00 CITY : BROOKEVILLE MD 20833
LIFETIME RATE : 7.25000
UNPAID BALANCE: 388,546.660 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,652.6479.99942 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246226 MORTGAGORS: MEEHAN, JOHN
MEEHAN, AUDREY
ADDRESS : 11304 WINDSOR WALK COURT
MORTGAGE AMT: 325,650.00 CITY : LAUREL MD 20723
LIFETIME RATE : 7.12500
UNPAID BALANCE: 325,389.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,193.9679.62297 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246291 MORTGAGORS: RAMANATHAN, MOHAN
RAMANATHAN, JULIA
ADDRESS : 47452 MIDDLE BLUFF PLACE
MORTGAGE AMT: 283,500.00 CITY : STERLING VA 20165
LIFETIME RATE : 7.12500
UNPAID BALANCE: 283,273.290 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,909.9979.99661 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246564 MORTGAGORS: DANIELS, JOHN
DANIELS, PEGGY
ADDRESS : 107 KENNERLY WAY
MORTGAGE AMT: 119,200.00 CITY : FOLSOM CA 95630
LIFETIME RATE : 7.87500
UNPAID BALANCE: 119,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 864.2880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246598 MORTGAGORS: ARROYO, FELIPE
ARROYO, YOLANDA
ADDRESS : 3510 RANCHO DIEGO CIRCLE
MORTGAGE AMT: 314,000.00 CITY : EL CAJON CA 92019
LIFETIME RATE : 7.87500
UNPAID BALANCE: 314,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,276.7289.97135 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246671 MORTGAGORS: COHEN, ROBERT
COHEN, NANCY
ADDRESS : 14556 ADDISON STREET
MORTGAGE AMT: 330,000.00 CITY : SHERMAN OAK CA 91403
LIFETIME RATE : 7.25000
UNPAID BALANCE: 330,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,251.1873.33333 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246697 MORTGAGORS: HEIDE, HUGH
HEIDE, GABRIELA
ADDRESS : 11344 WEMBLEY ROAD
MORTGAGE AMT: 316,000.00 CITY : LOS ALAMITO CA 90720
LIFETIME RATE : 7.37500
UNPAID BALANCE: 316,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,182.5380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246713 MORTGAGORS: ANDERSON, JOHN
ANDERSON, LEANN
ADDRESS : 18802 DE VILLE DRIVE
MORTGAGE AMT: 271,350.00 CITY : YORBA LINDA CA 92886
LIFETIME RATE : 7.37500
UNPAID BALANCE: 271,350.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,874.1590.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246796 MORTGAGORS: ESKANDAR, NADER
ESKANDAR, AMAL
ADDRESS : 10674 SUNSET RIDGE DRIVE
MORTGAGE AMT: 259,000.00 CITY : SAN DIEGO CA 92131
LIFETIME RATE : 8.00000
UNPAID BALANCE: 259,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,900.4570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080246929 MORTGAGORS: SMITH, MARK
SMITH, TERRI
ADDRESS : 20949 LOHENGRIN COURT
MORTGAGE AMT: 368,400.00 CITY : ASHBURN VA 20147
LIFETIME RATE : 6.62500
UNPAID BALANCE: 368,074.970 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,358.9189.99480 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247604 MORTGAGORS: PHAM, ANDY
ADDRESS : 9522 BAY MEADOW DRIVE
MORTGAGE AMT: 303,750.00 CITY : HUNTINGTONCA 92646
LIFETIME RATE : 7.50000
UNPAID BALANCE: 303,524.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.8675.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247620 MORTGAGORS: BALAMIENTO, YOLANDA
BALAMIENTO, MARIO
ADDRESS : 184 DENNIS DRIVE
MORTGAGE AMT: 262,500.00 CITY : DALY CITY CA 94015
LIFETIME RATE : 7.25000
UNPAID BALANCE: 262,295.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,790.7170.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247638 MORTGAGORS: ECHERD, GLYNN
ECHERD, MARGARET
ADDRESS : 5063 FOREST VIEW DR
MORTGAGE AMT: 338,400.00 CITY : SAN JOSE CA 95129
LIFETIME RATE : 7.12500
UNPAID BALANCE: 337,307.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,279.8680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247760 MORTGAGORS: DONLEY, FRANK
ADDRESS : 1034 ORO STREET
MORTGAGE AMT: 350,000.00 CITY : LAGUNA BEAC CA 92651
LIFETIME RATE : 7.87500
UNPAID BALANCE: 349,759.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,537.7573.69973 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247802 MORTGAGORS: LAZARUS, BRETT
ADDRESS : 3598 MOUNTAIN VIEW AVE
MORTGAGE AMT: 368,500.00 CITY : LOS ANGELES CA 90066
LIFETIME RATE : 7.37500
UNPAID BALANCE: 367,368.020 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,545.1470.19048 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247828 MORTGAGORS: COOPER, BUBIN
COOPER, TOBY
ADDRESS : 199-85 KENO AVENUE
MORTGAGE AMT: 304,000.00 CITY : Jamaica NY 11423
LIFETIME RATE : 8.00000
UNPAID BALANCE: 304,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,230.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247836 MORTGAGORS: SARABIA, ESTEBAN
SARABIA, ELIZABETH
ADDRESS : 415 GRAND BOULEVARD
MORTGAGE AMT: 268,800.00 CITY : HALF MOON B CA 94019
LIFETIME RATE : 7.50000
UNPAID BALANCE: 267,994.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,879.4980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247893 MORTGAGORS: PLATT, DAVID
PLATT, LINDA
ADDRESS : 44 NORTHRIDGE RD
MORTGAGE AMT: 315,200.00 CITY : IPSWICH MA 01938
LIFETIME RATE : 8.50000
UNPAID BALANCE: 315,009.050 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,423.6280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247919 MORTGAGORS: HUANG, GARY
GU, MIMI
ADDRESS : 2606 BLAZE TRAIL ROAD
MORTGAGE AMT: 496,000.00 CITY : DIAMOND BAR CA 91765
LIFETIME RATE : 7.37500
UNPAID BALANCE: 495,622.580 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,425.7580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247935 MORTGAGORS: BECKER, RONALD
ADDRESS : 518 INNWOOD ROAD
MORTGAGE AMT: 280,000.00 CITY : SIMI VALLEY CA 93065
LIFETIME RATE : 7.37500
UNPAID BALANCE: 279,139.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,933.8980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247943 MORTGAGORS: PITTMAN, DAVID
EVA, MARINELL
ADDRESS : 5505 VOLKERTS RD
MORTGAGE AMT: 291,650.00 CITY : SEBASTOPOLCA 95472
LIFETIME RATE : 8.00000
UNPAID BALANCE: 291,454.310 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,140.0295.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247968 MORTGAGORS: SHNEIDMAN, ROBERT
VAN VEEN, SUSAN
ADDRESS : 11511 SOUTHWEST BREYMAN A
MORTGAGE AMT: 353,200.00 CITY : PORTLAND OR 97219
LIFETIME RATE : 7.62500
UNPAID BALANCE: 352,944.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,499.9338.81319 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080247976 MORTGAGORS: ROL, GEORGE
ROL, BELARMINA
ADDRESS : 308 KULIOUOU ROAD
MORTGAGE AMT: 313,000.00 CITY : HONOLULU HI 96821
LIFETIME RATE : 7.12500
UNPAID BALANCE: 311,989.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,108.7479.64377 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248016 MORTGAGORS: MARACHUK, STEVEN
ADDRESS : 1565 HAIKU ROAD
MORTGAGE AMT: 340,000.00 CITY : HAIKU HI 96708
LIFETIME RATE : 7.37500
UNPAID BALANCE: 339,219.060 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,348.3079.06977 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248115 MORTGAGORS: RICHTER, DOUGLAS
RICHTER, JUDITH
ADDRESS : 5 AUTUMN DRIVE
MORTGAGE AMT: 325,000.00 CITY : MOORESTOWNNJ 08057
LIFETIME RATE : 7.00000
UNPAID BALANCE: 325,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,162.2378.42207 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248123 MORTGAGORS: HALVA, LANCE
HALVA, KRISTI
ADDRESS : 1500 HALL AVENUE
MORTGAGE AMT: 287,850.00 CITY : HOLLISTER CA 95023
LIFETIME RATE : 7.75000
UNPAID BALANCE: 287,646.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,062.1995.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248222 MORTGAGORS: BOSWELL, MICHAEL
MCGUIRE, KATHERINE
ADDRESS : 3029 LA CRESTA ROAD
MORTGAGE AMT: 310,000.00 CITY : EL CAJON CA 92021
LIFETIME RATE : 7.37500
UNPAID BALANCE: 309,764.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,141.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248263 MORTGAGORS: FOSTER, DANNY
FOSTER, KIMBERLY
ADDRESS : 2920 VICTORIA PLACE
MORTGAGE AMT: 252,000.00 CITY : ALPINE CA 91901
LIFETIME RATE : 7.50000
UNPAID BALANCE: 251,812.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,762.0280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248297 MORTGAGORS: FERNQUIST, KENNETH
FERNQUIST, LEAH
ADDRESS : 2803 GERSHWIN COURT
MORTGAGE AMT: 248,550.00 CITY : LANCASTER CA 93536
LIFETIME RATE : 7.62500
UNPAID BALANCE: 248,370.110 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,759.2294.98097 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248339 MORTGAGORS: KRAGER, SCOTT
ADDRESS : 2196 RUSTICPARK COURT
MORTGAGE AMT: 274,450.00 CITY : THOUSAND OAKS CA 91362
LIFETIME RATE : 7.37500
UNPAID BALANCE: 274,241.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,895.5689.98361 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248404 MORTGAGORS: BROEKER, GLORIA
MILLER, MARY
ADDRESS : 264 RIVERWOOD DRIVE
MORTGAGE AMT: 248,000.00 CITY : NEW HOPE PA 18938
LIFETIME RATE : 7.50000
UNPAID BALANCE: 247,815.950 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,734.0575.57174 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248420 MORTGAGORS: ELLIOTT, STEVEN
ELLIOTT, ANGELA
ADDRESS : 3120 CRANWOOD COURT
MORTGAGE AMT: 332,000.00 CITY : PLEASANTONCA 94588
LIFETIME RATE : 6.50000
UNPAID BALANCE: 331,398.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,098.4780.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248446 MORTGAGORS: RATZ, DAVID
RATZ, JUDY
ADDRESS : 224 SCOTT DRIVE
MORTGAGE AMT: 375,000.00 CITY : STATELINE NV 89449
LIFETIME RATE : 6.50000
UNPAID BALANCE: 374,320.140 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,370.2645.78755 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248453 MORTGAGORS: MANCINI, GERALD
MANCINI, NADINE
ADDRESS : 18817 Quarrymen Terr.
MORTGAGE AMT: 330,000.00 CITY : BROOKEVILLE MD 20833
LIFETIME RATE : 7.00000
UNPAID BALANCE: 329,729.510 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,195.4975.56762 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080248461 MORTGAGORS: WILSON, GREGORY
NAKAMOTO WIL, YVONNE
ADDRESS : 2491 AHA AINA PLACE
MORTGAGE AMT: 497,150.00 CITY : HONOLULU HI 96821
LIFETIME RATE : 6.87500
UNPAID BALANCE: 495,464.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,265.9274.75940 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080249444 MORTGAGORS: ORTIZ, ABRAHAM
GUTIERREZ, MARIA
ORTIZ, EILEEN GUTIERREZ, EZEKIEL
ADDRESS : 4428 4430 MARYLAND STREET
MORTGAGE AMT: 246,000.00 CITY : SAN DIEGO CA 92116
LIFETIME RATE : 7.62500
UNPAID BALANCE: 246,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,741.1769.29577 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080249790 MORTGAGORS: SHOFRON, LAURA
SHOFRON, TERRY
ADDRESS : 9 STONEBROOK
MORTGAGE AMT: 271,200.00 CITY : ALISO VIEJO CA 92656
LIFETIME RATE : 7.87500
UNPAID BALANCE: 271,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,966.3980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080249840 MORTGAGORS: BLACKFORD J, WILLIAM
ADDRESS : 19800 HENSHAW STREET
MORTGAGE AMT: 300,000.00 CITY : WOODLAND HI CA 91364
LIFETIME RATE : 7.62500
UNPAID BALANCE: 299,782.870 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,123.3875.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080249956 MORTGAGORS: KOZLOWSKI, CHARLES
KOZLOWSKI, PAMELA
ADDRESS : 2001 GRESHAM LANE
MORTGAGE AMT: 351,300.00 CITY : DAVIDSONVIL MD 21035
LIFETIME RATE : 7.37500
UNPAID BALANCE: 351,032.690 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,426.3479.99891 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080249972 MORTGAGORS: SEQUEIRA, ALEJANDRO
SEQUEIRA, MAGDA
ADDRESS : 8 RED TREE LANE
MORTGAGE AMT: 360,000.00 CITY : REISTERSTOW MD 21136
LIFETIME RATE : 7.37500
UNPAID BALANCE: 359,726.070 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,486.4362.57822 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080250145 MORTGAGORS: ALEXANDER, MARK
ALEXANDER, BONITA
ADDRESS : 223 AUGUSTINE DRIVE
MORTGAGE AMT: 295,950.00 CITY : MARTINEZ CA 94553
LIFETIME RATE : 7.87500
UNPAID BALANCE: 295,950.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,145.8579.99730 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080250343 MORTGAGORS: KENT, JOHN
KENT, TRISA
ADDRESS : 118 SAMOA COURT
MORTGAGE AMT: 359,600.00 CITY : SAN RAMON CA 94583
LIFETIME RATE : 7.62500
UNPAID BALANCE: 359,600.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,545.2380.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251069 MORTGAGORS: REA, CHRISTOPHE
ADDRESS : 519 NEVADA STREET
MORTGAGE AMT: 268,800.00 CITY : SAUSALITO CA 94965
LIFETIME RATE : 7.62500
UNPAID BALANCE: 268,605.450 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,902.5570.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251259 MORTGAGORS: MAGUIRE, NICOLE
ADDRESS : 3537 LAKESHORE AVENUE
MORTGAGE AMT: 289,000.00 CITY : OAKLAND CA 94610
LIFETIME RATE : 7.12500
UNPAID BALANCE: 289,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,947.0574.48454 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251275 MORTGAGORS: BEHAR, GIACOMO
POLAK BEHAR, LORRAINE
ADDRESS : 2211 VIA FRESA
MORTGAGE AMT: 317,500.00 CITY : LA JOLLA CA 92037
LIFETIME RATE : 7.50000
UNPAID BALANCE: 317,264.370 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,220.0129.53488 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251291 MORTGAGORS: COLARUOTOLO, FRANK
COLARUOTOLO, DORIS
ADDRESS : 28600 MOUNT VANCOUVER COU
MORTGAGE AMT: 269,000.00 CITY : RANCHO PALO CA 90275
LIFETIME RATE : 7.25000
UNPAID BALANCE: 268,790.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,835.0573.69863 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251861 MORTGAGORS: KESSLER, STEVEN
ADDRESS : 2311 ROSCOMARE ROAD
MORTGAGE AMT: 376,000.00 CITY : LOS ANGELES CA 90077
LIFETIME RATE : 8.12500
UNPAID BALANCE: 376,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,791.7980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.12500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251887 MORTGAGORS: HENDRICKSON, CLARK
SCHRAM, JOANNE
ADDRESS : 220 PATRICIAN LANE
MORTGAGE AMT: 208,000.00 CITY : PLACENTIA CA 92870
LIFETIME RATE : 8.25000
UNPAID BALANCE: 207,867.360 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,562.6480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251903 MORTGAGORS: PETRU, ANDREW
PETRU, CAROLYN
ADDRESS : 2249 ESTRIBO DRIVE
MORTGAGE AMT: 436,000.00 CITY : ROLLING HIL CA 90274
LIFETIME RATE : 7.50000
UNPAID BALANCE: 435,676.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,048.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080251937 MORTGAGORS: MC MAHON, SEAN
MC MAHON, JENNIFER
ADDRESS : 6817 CEDAR BASIN AVENUE
MORTGAGE AMT: 255,000.00 CITY : LAS VEGAS NV 89122
LIFETIME RATE : 8.37500
UNPAID BALANCE: 254,841.500 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,938.1989.99566 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252190 MORTGAGORS: FRANK, GLEN
FRANK, MARIELENA
ADDRESS : 340 ALCOTT ROAD
MORTGAGE AMT: 275,000.00 CITY : SAN BRUNO CA 94066
LIFETIME RATE : 7.37500
UNPAID BALANCE: 275,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,899.3664.70588 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252463 MORTGAGORS: OLDROYD, BRENT
MORRIS, STEVEN
ADDRESS : 2109 NORTH ROSEWOOD AVENU
MORTGAGE AMT: 328,000.00 CITY : SANTA ANA CA 92706
LIFETIME RATE : 7.62500
UNPAID BALANCE: 328,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,321.5680.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252901 MORTGAGORS: POPKO, MICHAEL
POPKO, DEBORAH
ADDRESS : 43297 CRYSTAL LAKE STREET
MORTGAGE AMT: 413,400.00 CITY : LEESBURG VA 20176
LIFETIME RATE : 7.12500
UNPAID BALANCE: 412,736.860 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,785.1579.99938 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252919 MORTGAGORS: GROSS, STEVEN
SHERMAN, KERRIE
ADDRESS : 281 PARK STREET
MORTGAGE AMT: 294,000.00 CITY : WEST ROXBURY MA 02132
LIFETIME RATE : 7.50000
UNPAID BALANCE: 293,781.810 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,055.6980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252927 MORTGAGORS: GRIFFITHS, HAROLD
GRIFFITHS, KATHLEEN
ADDRESS : 341 WESTMINSTER
MORTGAGE AMT: 274,500.00 CITY : GLEN CARBON IL 62034
LIFETIME RATE : 7.37500
UNPAID BALANCE: 273,869.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,895.9090.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252935 MORTGAGORS: HUBER, THOMAS
HUBER, NANCY
ADDRESS : 2615 SHADYWOOD ROAD
MORTGAGE AMT: 364,800.00 CITY : ORONO MN 55331
LIFETIME RATE : 7.37500
UNPAID BALANCE: 364,522.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,519.5880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252950 MORTGAGORS: LOGAN, ROSE
ADDRESS : 55 ALPINE WAY
MORTGAGE AMT: 251,300.00 CITY : MOUNT CHARL NV 89124
LIFETIME RATE : 8.75000
UNPAID BALANCE: 251,155.420 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,976.9870.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252968 MORTGAGORS: KENEALY, DAVID
KENEALY, JANET
ADDRESS : 317 N EAST AVENUE
MORTGAGE AMT: 484,800.00 CITY : OAK PARK IL 60302
LIFETIME RATE : 7.62500
UNPAID BALANCE: 484,449.120 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,431.3880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252984 MORTGAGORS: STEFFEN, MARK
STEFFEN, GINA
ADDRESS : 16704 WINDING VIEW TRAIL
MORTGAGE AMT: 379,850.00 CITY : FISHERVILLE KY 40023
LIFETIME RATE : 7.37500
UNPAID BALANCE: 379,560.960 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,623.5379.99284 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080252992 MORTGAGORS: YOUNG, HENRY
YOUNG, JANET
ADDRESS : 2006 SEA PALMS WEST DR
MORTGAGE AMT: 250,000.00 CITY : W ST SIMONS GA 31522
LIFETIME RATE : 7.25000
UNPAID BALANCE: 249,804.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,705.4462.89308 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253008 MORTGAGORS: TEAGUE, KEITH
TEAGUE, CINDY
ADDRESS : 7130 POLO HILL
MORTGAGE AMT: 283,900.00 CITY : CUMMING GA 30040
LIFETIME RATE : 7.25000
UNPAID BALANCE: 283,678.530 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,936.7079.99436 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253016 MORTGAGORS: KANE, CHARLES
KING, CHRISTINE
ADDRESS : 139 DAVIS AVENUE
MORTGAGE AMT: 380,000.00 CITY : BROOKLINE MA 02140
LIFETIME RATE : 8.62500
UNPAID BALANCE: 379,775.650 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,955.6080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253024 MORTGAGORS: GRIFFIN, RONALD
GRIFFIN, MARCI
ADDRESS : 101 FALCON HILLS DRIVE
MORTGAGE AMT: 495,000.00 CITY : LITTLETON CO 80126
LIFETIME RATE : 7.37500
UNPAID BALANCE: 494,244.380 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,418.8461.87500 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253057 MORTGAGORS: DOKELL, DAVID
ADDRESS : 951 SOUTH GARFIELD STREET
MORTGAGE AMT: 356,000.00 CITY : DENVER CO 80209
LIFETIME RATE : 7.25000
UNPAID BALANCE: 355,722.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,428.5577.55991 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253073 MORTGAGORS: PARADISE, MARK
WHEELER, ALLISON
ADDRESS : 79 NORTH LAUREL STREET
MORTGAGE AMT: 312,000.00 CITY : SALT LAKE C UT 84103
LIFETIME RATE : 7.25000
UNPAID BALANCE: 311,756.610 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,128.3980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253081 MORTGAGORS: THURMAN, TODD
MILLER, JEFFREY
ADDRESS : 3347 BENNETT DRIVE
MORTGAGE AMT: 288,000.00 CITY : LOS ANGELES CA 90068
LIFETIME RATE : 6.87500
UNPAID BALANCE: 286,898.100 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,891.9690.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253099 MORTGAGORS: LUMPKIN, WILLIAM
LUMPKIN, CAROL
ADDRESS : 1104 NORTH ROSE AVENUE
MORTGAGE AMT: 300,000.00 CITY : PASADENA CA 91107
LIFETIME RATE : 7.37500
UNPAID BALANCE: 299,771.720 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,072.0379.66012 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253107 MORTGAGORS: LAND, KEVIN
LAND, JODI
ADDRESS : 6495 DUNNVILLE WAY
MORTGAGE AMT: 335,900.00 CITY : HOLLISTER CA 95023
LIFETIME RATE : 7.62500
UNPAID BALANCE: 335,656.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,377.4879.99524 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253115 MORTGAGORS: OLSEN, CRAIG
OLSEN, BRIGITTA
ADDRESS : 15605 CAMINO DEL CERRO
MORTGAGE AMT: 632,250.00 CITY : LOS GATOS CA 95032
LIFETIME RATE : 7.75000
UNPAID BALANCE: 631,803.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,529.5175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253123 MORTGAGORS: BYLER, JONATHAN
ADDRESS : 481 VISTA DEL MAR DRIVE
MORTGAGE AMT: 487,500.00 CITY : APTOS CA 95003
LIFETIME RATE : 8.00000
UNPAID BALANCE: 487,172.900 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,577.1074.42748 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253131 MORTGAGORS: KNIERIM, DAVID
KNIERIM, KATHLEEN
ADDRESS : 10681 EAST SAN JOSE AVENU
MORTGAGE AMT: 429,250.00 CITY : CLOVIS CA 93611
LIFETIME RATE : 7.50000
UNPAID BALANCE: 428,931.430 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,001.3885.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253149 MORTGAGORS: GEE, ANDY
GEE, PATRICIA
ADDRESS : 545 COLGATE DRIVE
MORTGAGE AMT: 288,000.00 CITY : PLACENTIA CA 92870
LIFETIME RATE : 7.50000
UNPAID BALANCE: 281,940.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,013.7480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253164 MORTGAGORS: NEAL, LAWRENCE
ADDRESS : 23320 SHADY GROVE ROAD
MORTGAGE AMT: 340,000.00 CITY : MIDDLETOWNCA 95461
LIFETIME RATE : 7.37500
UNPAID BALANCE: 339,741.280 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,348.3080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253180 MORTGAGORS: KNADLER, PETER
KNADLER, GAIL
ADDRESS : 1106 FRYER CREEK DRIVE
MORTGAGE AMT: 318,200.00 CITY : SONOMA CA 95476
LIFETIME RATE : 7.50000
UNPAID BALANCE: 317,963.850 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,224.9079.99739 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253198 MORTGAGORS: RAYNAL, RAY
RAYNAL, KIM
ADDRESS : 9320 NEWELL CREEK ROAD
MORTGAGE AMT: 280,000.00 CITY : BEN LOMONDCA 95005
LIFETIME RATE : 7.75000
UNPAID BALANCE: 279,802.370 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,005.9662.36080 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253214 MORTGAGORS: JERNIGAN, DENNIS
JERNIGAN, MELINDA
ADDRESS : 7800 FERN MOUNTAIN ROAD
MORTGAGE AMT: 472,000.00 CITY : MUSKOGEE OK 74401
LIFETIME RATE : 7.12500
UNPAID BALANCE: 470,860.910 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,179.9580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253222 MORTGAGORS: MARSHALL, SANDRA
MARSHALL, SAMUEL
ADDRESS : 840 BLUE HERON POINTE
MORTGAGE AMT: 350,000.00 CITY : COUNCE TN 38326
LIFETIME RATE : 6.87500
UNPAID BALANCE: 349,410.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.2572.16495 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.87500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253230 MORTGAGORS: VINCZE, EDWARD
VINCZE, KATHRYN
ADDRESS : 1604 DUKE OF WINDSOR RO
MORTGAGE AMT: 440,000.00 CITY : VIRGINIA BEACH VA 23454
LIFETIME RATE : 7.62500
UNPAID BALANCE: 439,681.540 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,114.2980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253248 MORTGAGORS: MICKLE, MICHAEL
MICKLE, LINDE
ADDRESS : 703 MILLPORT POINTE
MORTGAGE AMT: 330,000.00 CITY : DULUTH GA 30097
LIFETIME RATE : 7.25000
UNPAID BALANCE: 329,742.570 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,251.1849.62406 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253396 MORTGAGORS: COHEN, LEE
ADDRESS : 3675 EAST GOLDEN HILLS AV
MORTGAGE AMT: 105,000.00 CITY : SALT LAKE C UT 84121
LIFETIME RATE : 7.62500
UNPAID BALANCE: 105,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 743.1855.85106 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253735 MORTGAGORS: BRANDSTATTER, PATRICK
BRANDSTATTER, JANE
ADDRESS : 2140 WEAVER RD
MORTGAGE AMT: 286,430.00 CITY : NILES MI 49120
LIFETIME RATE : 7.25000
UNPAID BALANCE: 285,528.080 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.9659.06000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 04/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253743 MORTGAGORS: HUSTON, GEORGE
HUSTON, KAREN
ADDRESS : 47801 HASTINGS RD
MORTGAGE AMT: 280,000.00 CITY : CANTON MI 48188
LIFETIME RATE : 7.37500
UNPAID BALANCE: 279,356.890 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,933.8983.55000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253750 MORTGAGORS: SANTEIU, MARK
SANTEIU, DENISE
ADDRESS : 9343 FELLOWS CREEK DRIVE
MORTGAGE AMT: 380,000.00 CITY : PLYMOUTH MI 48170
LIFETIME RATE : 7.12500
UNPAID BALANCE: 379,082.940 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,560.1368.49000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253768 MORTGAGORS: PHELPS, CLARK
SMALL, SHERRY
ADDRESS : 7401 WESTWIND
MORTGAGE AMT: 402,100.00 CITY : TRAVERSE CITY MI 49686
LIFETIME RATE : 7.62500
UNPAID BALANCE: 401,361.150 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,846.0479.99000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253776 MORTGAGORS: HORWICH, J.
HORWICH, SHERRIL
ADDRESS : 27568 MANSTROM DR.
MORTGAGE AMT: 442,900.00 CITY : LAWTON MI 49065
LIFETIME RATE : 7.50000
UNPAID BALANCE: 442,240.560 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,096.8279.80000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253792 MORTGAGORS: KOPPIE, CHAD
KOPPIE, THERESA
ADDRESS : 39 WEST 140 FREEMAN ROAD
MORTGAGE AMT: 386,500.00 CITY : GILBERTS IL 60136
LIFETIME RATE : 7.25000
UNPAID BALANCE: 385,895.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,636.6161.35000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253800 MORTGAGORS: KROMELOW, BASIL
KROMELOW, LAUREANNE
ADDRESS : 55 WEST DELAWARE
MORTGAGE AMT: 650,000.00 CITY : CHICAGO IL 60610
LIFETIME RATE : 7.25000
UNPAID BALANCE: 648,469.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,434.1548.15000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253818 MORTGAGORS: PANTALL, TERRY
PANTALL, DONNA
ADDRESS : 17548 MERIDIAN ROAD
MORTGAGE AMT: 400,000.00 CITY : GROSSE ISLE MI 48138
LIFETIME RATE : 7.62500
UNPAID BALANCE: 399,419.160 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,831.1766.12000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253826 MORTGAGORS: SIRL, WILLIAM
SIRL, PATRICIA
ADDRESS : 10475 RUNYAN LAKE POINT
MORTGAGE AMT: 337,000.00 CITY : FENTON MI 48430
LIFETIME RATE : 7.50000
UNPAID BALANCE: 316,247.460 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,356.3561.27000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253834 MORTGAGORS: WILLIAMS, NICOLE
ADDRESS : 35 ROCKGATE LANE
MORTGAGE AMT: 400,000.00 CITY : GLENCOE IL 60022
LIFETIME RATE : 7.37500
UNPAID BALANCE: 399,389.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,762.7030.77000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253842 MORTGAGORS: MARTENSON, JOHN
MARTENSON, JENNIFER
ADDRESS : 2181 SHERATON
MORTGAGE AMT: 378,750.00 CITY : TRENTON MI 48183
LIFETIME RATE : 7.75000
UNPAID BALANCE: 378,482.680 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,713.4175.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253859 MORTGAGORS: AMAYA, VICTOR
AMAYA, LESLIE
ADDRESS : 7478 CASCADE ROAD
MORTGAGE AMT: 300,000.00 CITY : GRAND RAPIDS MI 49546
LIFETIME RATE : 7.25000
UNPAID BALANCE: 298,378.490 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,046.5360.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253867 MORTGAGORS: DREFFS, STEPHEN
DREFFS, SHIRLEY
ADDRESS : 765 ARMY ROAD
MORTGAGE AMT: 508,750.00 CITY : LEONARD MI 48367
LIFETIME RATE : 7.50000
UNPAID BALANCE: 507,992.520 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,557.2546.25000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253875 MORTGAGORS: KOEHLER, JAMES
KOEHLER, TAMARA
ADDRESS : 194 CAMINO BARRANCA
MORTGAGE AMT: 300,000.00 CITY : PLACITAS NM 87043
LIFETIME RATE : 6.50000
UNPAID BALANCE: 299,456.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,896.2077.92000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253883 MORTGAGORS: VAUGHT, LARRY
VAUGHT, ROBIN
ADDRESS : 8580 SKEGEMOG POINT ROAD
MORTGAGE AMT: 352,800.00 CITY : WILLIAMSBURG MI 49690
LIFETIME RATE : 7.25000
UNPAID BALANCE: 351,969.340 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,406.7279.82000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253891 MORTGAGORS: DAIGLE, LARRY
DAIGLE, MARILYN
ADDRESS : 5565 CURDY ROAD
MORTGAGE AMT: 269,900.00 CITY : HOWELL MI 48843
LIFETIME RATE : 7.50000
UNPAID BALANCE: 269,699.700 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,887.1878.23000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253909 MORTGAGORS: JOHNS, STEPHEN
JOHNS, SUE
ADDRESS : 15 EAST BIRCHWOOD
MORTGAGE AMT: 425,000.00 CITY : HINSDALE IL 60521
LIFETIME RATE : 7.25000
UNPAID BALANCE: 424,334.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,899.2558.62000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253925 MORTGAGORS: FOSTER, FRANK
FOSTER, SUSAN
ADDRESS : 3273 VALLEY RD
MORTGAGE AMT: 280,000.00 CITY : PELLSTON MI 49769
LIFETIME RATE : 7.25000
UNPAID BALANCE: 279,340.770 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,910.0948.28000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253933 MORTGAGORS: KRYZA, MICHAEL
KRAL, MADONNA
ADDRESS : 11170 ASHBROOK LANE
MORTGAGE AMT: 444,000.00 CITY : INDIAN HEAD PARK IL 60525
LIFETIME RATE : 7.50000
UNPAID BALANCE: 443,338.920 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,104.5180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253974 MORTGAGORS: MCLEAN, DANIEL
MCLEAN, KATHLEEN
ADDRESS : 4000 VANSTONE DRIVE
MORTGAGE AMT: 400,000.00 CITY : COMMERCE MI 48382
LIFETIME RATE : 6.62500
UNPAID BALANCE: 399,292.230 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,561.2468.38000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 6.62500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253982 MORTGAGORS: SCHWARTZ, JEFFREY
SCHWARTZ, MARIE
ADDRESS : 9233 SHAW RD
MORTGAGE AMT: 308,000.00 CITY : WILLIAMSBURG MI 49690
LIFETIME RATE : 7.25000
UNPAID BALANCE: 307,759.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,101.1080.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080253990 MORTGAGORS: CARTWRIGHT, JOHN
CARTWRIGHT, CLARICE
ADDRESS : 8973 GILBERT TRAIL
MORTGAGE AMT: 600,300.00 CITY : TRAVERSE CITY MI 49684
LIFETIME RATE : 7.25000
UNPAID BALANCE: 599,360.590 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 4,095.1076.96000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254006 MORTGAGORS: ZEERIP, NELSON
ZEERIP, MARY
ADDRESS : 387 BIG BAY
MORTGAGE AMT: 448,000.00 CITY : HOLLAND MI 49424
LIFETIME RATE : 7.25000
UNPAID BALANCE: 447,298.930 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,056.1568.92000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254014 MORTGAGORS: ALSTON, ROBERT
ALSTON, MARY
ADDRESS : 6535 DONNEGAL CT. SE
MORTGAGE AMT: 333,000.00 CITY : GRAND RAPIDS MI 49546
LIFETIME RATE : 7.37500
UNPAID BALANCE: 332,491.670 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.9561.10000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254022 MORTGAGORS: HARTEL, PATRICK
HARTEL, ALICE
ADDRESS : 6801 SCOTCH PINE TRAIL
MORTGAGE AMT: 333,600.00 CITY : DARIEN IL 60561
LIFETIME RATE : 7.62500
UNPAID BALANCE: 333,358.550 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,361.2089.92000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254030 MORTGAGORS: RUTHERFORD, MICHAEL
RUTHERFORD, ANN
ADDRESS : 430 CREST DR
MORTGAGE AMT: 272,000.00 CITY : HOLLAND MI 49424
LIFETIME RATE : 7.25000
UNPAID BALANCE: 271,574.340 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,855.5280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254048 MORTGAGORS: JOHNSON, ROBERT
JOHNSON, ELAINE
ADDRESS : 4314 BEDAKI AVENUE N E
MORTGAGE AMT: 267,300.00 CITY : LOWELL MI 49331
LIFETIME RATE : 7.25000
UNPAID BALANCE: 266,520.840 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,823.4666.83000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254105 MORTGAGORS: SNOw, ROBERT
SNOW, RANDI
ADDRESS : 6446 NAPA AVENUE
MORTGAGE AMT: 247,000.00 CITY : RANCHO CUCA CA 91701
LIFETIME RATE : 8.00000
UNPAID BALANCE: 247,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,812.4095.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254139 MORTGAGORS: FEEHON, JOHN
FEEHAN, VERONICA
ADDRESS : 2938 LONE JACK ROAD
MORTGAGE AMT: 299,000.00 CITY : ENCINITAS CA 92024
LIFETIME RATE : 8.50000
UNPAID BALANCE: 299,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,299.0667.95455 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254360 MORTGAGORS: WILLSON, JARED
WILLSON, MELANIE
ADDRESS : 3410 BROOKMILL COURT
MORTGAGE AMT: 286,400.00 CITY : FREMONT CA 94536
LIFETIME RATE : 7.25000
UNPAID BALANCE: 286,400.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,953.7580.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254535 MORTGAGORS: CURRY, CLYDE
CURRY, BARBARA
ADDRESS : 13712 EAST BULLARD AVENUE
MORTGAGE AMT: 280,000.00 CITY : CLOVIS CA 93611
LIFETIME RATE : 7.87500
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1971.79487 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254717 MORTGAGORS: JACOBS, DAYNE
JACOBS, CHARLE
ADDRESS : 10184 SOUTH WOODROSE LANE
MORTGAGE AMT: 171,000.00 CITY : LITTLETON CO 80126
LIFETIME RATE : 7.87500
UNPAID BALANCE: 170,882.320 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,239.8795.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254725 MORTGAGORS: CERRATO, A
CERRATO, JOANN
ADDRESS : 2 HALTER COURT
MORTGAGE AMT: 255,100.00 CITY : MOUNT LAURE NJ 08054
LIFETIME RATE : 8.25000
UNPAID BALANCE: 255,100.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,916.4879.99373 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254808 MORTGAGORS: LIO, PETER
LIO, ANNA
ADDRESS : 13726 DURANGO DRIVE
MORTGAGE AMT: 300,000.00 CITY : DEL MAR CA 92014
LIFETIME RATE : 7.25000
UNPAID BALANCE: 300,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,046.5352.91005 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254816 MORTGAGORS: OLSEN, DANIEL
OLSEN, CHRISTINE
ADDRESS : 17 KING EDWARD COURT
MORTGAGE AMT: 350,000.00 CITY : RANCHO MIRA CA 92270
LIFETIME RATE : 7.62500
UNPAID BALANCE: 350,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,477.2872.20407 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080254931 MORTGAGORS: TREACY, ROBERT
MELIA, SAMANTHA
ADDRESS : 16450 BLACKIE ROAD
MORTGAGE AMT: 287,200.00 CITY : SALINAS CA 93907
LIFETIME RATE : 7.50000
UNPAID BALANCE: 287,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,008.1480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080256811 MORTGAGORS: UHLER, TED
BUCKLEY, CHRISTINE
ADDRESS : 7413 BRAVA STREET
MORTGAGE AMT: 264,000.00 CITY : CARLSBAD CA 92009
LIFETIME RATE : 7.12500
UNPAID BALANCE: 263,788.880 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,778.6280.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080256878 MORTGAGORS: FISHER, MICHAEL
FISHER, CAROLYN
ADDRESS : 210 SOUTH SHATTUCK PLACE
MORTGAGE AMT: 247,500.00 CITY : ORANGE CA 92866
LIFETIME RATE : 8.25000
UNPAID BALANCE: 247,500.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,859.3890.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.25000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080257546 MORTGAGORS: HECK, WILLIAM
HECK, JULIE
ADDRESS : 26 WINDWARD DRIVE
MORTGAGE AMT: 444,800.00 CITY : CORTE MADER CA 94925
LIFETIME RATE : 7.50000
UNPAID BALANCE: 444,800.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,110.1180.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080257884 MORTGAGORS: HEBERT, T
HEBERT, JANET
ADDRESS : 1185 TAMARACK AVENUE
MORTGAGE AMT: 361,000.00 CITY : CARLSBAD CA 92008
LIFETIME RATE : 7.37500
UNPAID BALANCE: 361,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,493.3455.53846 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080257918 MORTGAGORS: TRAN, TUAN
QUAN, LAN
ADDRESS : 4026 RENNELLWOOD WAY
MORTGAGE AMT: 296,100.00 CITY : PLEASANTONCA 94566
LIFETIME RATE : 8.37500
UNPAID BALANCE: 296,100.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,250.5890.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080257959 MORTGAGORS: JARA, HILARIO
JARA, ELIANA
ADDRESS : 5118 ARVADA ST.
MORTGAGE AMT: 276,250.00 CITY : TORRANCE CA 90503
LIFETIME RATE : 8.87500
UNPAID BALANCE: 276,095.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,197.9785.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.87500 MATURITY DATE:
PRODUCT CODE: 351 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080257967 MORTGAGORS: ROY, STEPHEN
ROY, MARGARET
ADDRESS : 1368 FUNSTON AVENUE
MORTGAGE AMT: 297,600.00 CITY : SAN FRANCIS CA 94122
LIFETIME RATE : 9.12500
UNPAID BALANCE: 297,600.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,421.3880.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 9.12500 MATURITY DATE:
PRODUCT CODE: 351 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080258262 MORTGAGORS: ORDAZ, GABRIEL
ORDAZ, ROSA
ADDRESS : 2008 CANYON DRIVE
MORTGAGE AMT: 285,000.00 CITY : FULLERTON CA 92833
LIFETIME RATE : 7.87500
UNPAID BALANCE: 285,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,066.4595.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080258304 MORTGAGORS: ELLIOTT, GARY
ELLIOTT, CAROLYN
ADDRESS : 7526 AVILA
MORTGAGE AMT: 430,400.00 CITY : LA VERNE CA 91750
LIFETIME RATE : 7.25000
UNPAID BALANCE: 430,064.240 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,936.0979.96804 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.25000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080259278 MORTGAGORS: CASE, JEFFREY
CASE, PETRA
ADDRESS : 9601 RINGE CIRCLE
MORTGAGE AMT: 360,000.00 CITY : FOUNTAIN VA CA 92708
LIFETIME RATE : 7.75000
UNPAID BALANCE: 360,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,579.0980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.75000 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080259351 MORTGAGORS: JOSIPOVICH, DANIEL
JOSIPOVICH, DOROTHY
ADDRESS : 21251 CALLE SENDERO
MORTGAGE AMT: 257,200.00 CITY : LAKE FOREST CA 92630
LIFETIME RATE : 7.62500
UNPAID BALANCE: 257,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 1,820.4576.77612 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080259542 MORTGAGORS: BARNES, CRAIG
BARNES, JENNIFER
ADDRESS : 4977 ADAIR WAY
MORTGAGE AMT: 337,600.00 CITY : SAN JOSE CA 95124
LIFETIME RATE : 7.62500
UNPAID BALANCE: 337,600.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,389.5179.43529 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080259617 MORTGAGORS: QUISENBERRY, DANIEL
QUISENBERRY, MARILYN
ADDRESS : 30621 MAINMAST DRIVE
MORTGAGE AMT: 280,000.00 CITY : AGOURA HILLS CA 91301
LIFETIME RATE : 7.87500
UNPAID BALANCE: 280,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,030.1980.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080263494 MORTGAGORS: GRUNDHOFER, JOHN
GRUNDHOFER, MICHELLE
ADDRESS : 37 CRAIG COURT
MORTGAGE AMT: 330,300.00 CITY : PLEASANTONCA 94566
LIFETIME RATE : 7.12500
UNPAID BALANCE: 329,464.730 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,225.3094.99432 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 06/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080264427 MORTGAGORS: COHEN, DODD
JAY, SUSAN
ADDRESS : 3713 COOLIDGE AVEUE
MORTGAGE AMT: 318,200.00 CITY : LOS ANGELES CA 90066
LIFETIME RATE : 7.37500
UNPAID BALANCE: 318,200.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,197.7379.98994 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.37500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080264617 MORTGAGORS: BRIMHALL, DAVID
BRIMHALL, GRETCHEN
ADDRESS : 2480 SOUTH 1150 WEST
MORTGAGE AMT: 280,000.00 CITY : SYRACUSE UT 84075
LIFETIME RATE : 8.00000
UNPAID BALANCE: 279,812.130 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,054.5480.00000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 8.00000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080264633 MORTGAGORS: LARSEN, DANIEL
LARSEN, DEBRA
ADDRESS : 9270 KESWICK AVENUE NORTH
MORTGAGE AMT: 342,950.00 CITY : GRANT MN 55082
LIFETIME RATE : 7.50000
UNPAID BALANCE: 342,695.980 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,397.9669.98980 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.50000 MATURITY DATE:
PRODUCT CODE: 102 07/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080264641 MORTGAGORS: ADAMS, MARVIN
ADAMS, SHARON
ADDRESS : 2925 CEDAR HEIGHTS DR
MORTGAGE AMT: 405,500.00 CITY : COLORADO SP CO 80904
LIFETIME RATE : 7.12500
UNPAID BALANCE: 404,521.390 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,731.9382.75510 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.12500 MATURITY DATE:
PRODUCT CODE: 102 05/01/29
- ------------------------------------------------------------------------------------------------------------------------------------
LN # 0080264757 MORTGAGORS: ROMANOFF, MELVYN
ROMANOFF, MARSHA
ADDRESS : 1811 DUNHILL CIRCLE
MORTGAGE AMT: 440,000.00 CITY : Glenview IL 60025
LIFETIME RATE : 7.62500
UNPAID BALANCE: 440,000.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 3,114.2977.50000 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.62500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
LN # 0080265507 MORTGAGORS: PEARSON, LAWRENCE
PEARSON, RUFIENA
ADDRESS : 17385 VANDERHILL CIRCLE
MORTGAGE AMT: 327,150.00 CITY : PERRIS CA 92570
LIFETIME RATE : 7.87500
UNPAID BALANCE: 327,150.000 OPTION TO CONVERT : No
MONTHLY P&I:LTV : 2,372.0679.79268 ANNUAL RATE ADJUST:OUTSIDE CONV DATE:0.000
CURRENT INT RATE: 7.87500 MATURITY DATE:
PRODUCT CODE: 102 08/01/29
- -----------------------------------------------------------------------------------------------------------------------------------
**** PAGE TOTALS **** NUM OF LOANS: 1075 LOAN AMT: 351,907,564.0
P & I AMT: 2,455,075.90 UPB AMT: 351,446,953.4
**** GRAND TOTALS **** NUM OF LOANS: 1073 LOAN AMT: 351,907,564.00
P & I AMT: 2,455,075.90 UPB AMT: 351,446,953.44
</TABLE>
<PAGE>
EXHIBIT D
FORM OF SERVICER'S CERTIFICATE
----------------, ------
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Mortgage Pass-Through Certificates,
Series 1999-17
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and State Street Bank and Trust Company (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
<TABLE>
<CAPTION>
<S> <C> <C>
A. Mortgage Loan Information:
(1) Aggregate Scheduled Monthly Payments:
(a) Principal $________
(b) Interest $________
(c) Total $________
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(3) Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(5) Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(8) Aggregate Purchase Prices (and substitution adjustments) for Defective
Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(9) Pool Scheduled Principal Balance: $________
(10) Available Funds: $________
(11) Realized Losses for prior month: $________
(12) Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations $________
(b) Special Hazard Losses $________
(c) Fraud Losses $________
(d) Excess Bankruptcy Losses $________
(i) Debt Service Reductions $________
(ii) Deficient Valuations $________
(e) Excess Special Hazard Losses $________
(f) Excess Fraud Losses $________
(g) Debt Service Reductions $________
(13) Compensating Interest Payment: $________
(14) Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class A1 $__________ $__________ ____%
Class A2 $__________ $__________ ____%
Class A3 $__________ $__________ ____%
Class A4 $__________ $__________ ____%
Class A5 $__________ $__________ ____%
Class A6 $__________ $__________ ____%
Class A7 $__________ $__________ ____%
Class A9 $__________ $__________ ____%
Class A10 $__________ $__________ ____%
Class A11 $__________ $__________ ____%
Class A12 $__________ $__________ ____%
Class M $__________ $__________ ____%
Class B1 $__________ $__________ ____%
Class B2 $__________ $__________ ____%
Class B3 $__________ $__________ ____%
Class B4 $__________ $__________ ____%
Class B5 $__________ $__________ ____%
Class R $__________ $__________ ____%
Class S $__________ $__________ ____%
(15) Accrual amount:
Class A5 $_________
(16) Principal distributable:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(17) Additional distributions to the Class R Certificate
pursuant to Section 4.01(b):
Class R $__________
(18) Certificate Interest Rate of:
Class S Certificates __________%
(19) Distributions Allocable to Unanticipated Recoveries:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $___________
Class B5 $__________
Class R $__________
</TABLE>
B. Other Amounts:
<TABLE>
<CAPTION>
<S> <C> <C>
1. Senior Percentage for such Distribution Date: _____________%
2. Class A3 Percentage for such Distribution Date: _____________%
3. Class A3 Scheduled Distribution Percentage for such Distribution Date: _____________%
4. Senior Prepayment Percentage for such Distribution Date: _____________%
5. Class A3 Prepayment Distribution Percentage for such Distribution Date: _____________%
6. Junior Percentage for such Distribution Date: _____________%
7. Junior Prepayment Percentage for such Distribution Date: _____________%
8. Subordinate Certificate Writedown Amount for such Distribution Date: $_____________
9. Prepayment Distribution Triggers satisfied: Yes No
Class B1 _____ _____
Class B2 _____ _____
Class B3 _____ _____
Class B4 _____ _____
Class B5 _____ _____
10. Servicing Fee: $_____________
</TABLE>
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
<PAGE>
EXHIBIT E
FORM OF TRANSFER CERTIFICATE AS TO ERISA MATTERS FOR
DEFINITIVE ERISA-RESTRICTED CERTIFICATES
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, Massachusetts 02110
[NAME OF OFFICER] ______________________ hereby certifies that:
1. That he [she] is [title of officer] ___________________________________
of [name of Investor] _______________________________________ (the "Investor"),
a __________ ______________________ [description of type of entity] duly
organized and existing under the laws of the [State of ____________] [United
States], on behalf of which he [she] makes this affidavit.
2. The Investor (i) is not, and on ________________ [insert date of
transfer of Certificate to Investor] will not be, and on such date will not be
investing the assets of, an employee benefit plan subject to the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), or a plan subject
to Section 4975 of the Code or (ii) is an insurance company investing assets of
its general account and the exemptions provided by Section III(a) of Department
of Labor Prohibited Transaction Class Exemption 95-60, 60 Fed. Reg. 35925 (July
12, 1995) (the "Exemptions") apply to the Investor's acquisition and holding of
any ERISA-Restricted Certificate. All capitalized terms used and not defined in
this certificate shall have the meanings ascribed thereto in the Agreement
referred to in paragraph 3 hereof.
3. The Investor hereby acknowledges that under the terms of the Pooling and
Servicing Agreement (the "Agreement") between State Street Bank and Trust
Company, as Trustee and GE Capital Mortgage Services, Inc., dated as of August
1, 1999, no transfer of any ERISA-Restricted Certificate shall be permitted to
be made to any Person unless the Trustee has received (i) a certificate from
such transferee to the effect that (x) such transferee is not an employee
benefit plan subject to ERISA or a plan subject to Section 4975 of the Code (a
"Plan") or a Person that is using the assets of a Plan to acquire any such
Certificate or (y) such transferee is an insurance company investing assets of
its general account and the Exemptions apply to such transferee's acquisition
and holding of any such Certificate or (ii) an opinion of counsel satisfactory
to the Trustee and the Company to the effect that the purchase and holding of
any such Certificate will not constitute or result in the assets of the Trust
Fund created by the Agreement being deemed to be "plan assets" subject to the
prohibited transaction provisions of ERISA or Section 4975 of the Code and will
not subject the Trustee or the Company to any obligation in addition to those
undertaken in the Agreement (provided, however, that the Trustee will not
require such certificate or opinion in the event that, as a result of change of
law or otherwise, counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of any such Certificate by a Plan or a
Person that is purchasing or holding any such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction under ERISA or
Section 4975 of the Code).
[4. The ERISA-Restricted Certificates shall be registered in the name of
______________________________________________ as nominee for the Investor.]
IN WITNESS WHEREOF, the Investor has caused this instrument to be executed
on its behalf, pursuant to authority of its Board of Directors, by its [title of
officer] __________________ and its corporate seal to be hereunder attached,
attested by its [Assistant] Secretary, this ____ day of _________, 199_.
---------------------------------------
[name of Investor]
By:____________________________________
Name:
Title:
The undersigned hereby acknowledges that it is holding and will hold the
ERISA-Restricted Certificates at the exclusive direction of and as nominee of
the Investor named above.
- -------------------------------
[name of nominee]
By:____________________________
Name:
Title:
<PAGE>
EXHIBIT F
FORM OF RESIDUAL CERTIFICATE TRANSFEREE AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
[NAME OF OFFICER], _________________ being first duly sworn, deposes and says:
1. That he [she] 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 [she] 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") and will not be a "disqualified organization" as of ______________
[insert date of transfer of Residual Certificate to Purchaser], and that the
Purchaser is not acquiring a Residual Certificate (as defined below) 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 federal income tax unless
such organization is subject to the tax on unrelated business income imposed by
Code Section 511. As used herein, "Residual Certificate" means any Certificate
designated as a "Class R Certificate" of GE Capital Mortgage Services, Inc.'s
REMIC Mortgage Pass-Through Certificates, Series 1999-17.
4. That the Purchaser is not, and on _____________ [insert date of transfer
of Residual Certificate to Purchaser] will not be, and is not and on such date
will not be investing the assets of, an employee benefit plan subject to the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or a plan
subject to Code Section 4975 or a person or entity that is using the assets of
any employee benefit plan or other plan to acquire a Residual Certificate.
5. That the Purchaser hereby acknowledges that under the terms of the
Pooling and Servicing Agreement (the "Agreement") between State Street Bank and
Trust Company, as Trustee, and GE Capital Mortgage Services, Inc., dated as of
August 1, 1999, no transfer of the Residual Certificates shall be permitted to
be made to any person unless the Trustee has received a certificate from such
transferee to the effect that such transferee is not an employee benefit plan
subject to ERISA or a plan subject to Section 4975 of the Code and is not using
the assets of any employee benefit plan or other plan to acquire Residual
Certificates.
6. That the Purchaser does not hold REMIC residual securities as nominee to
facilitate the clearance and settlement of such securities through electronic
book-entry changes in accounts of participating organizations (such entity, a
"Book-Entry Nominee").
7. That the Purchaser does not have the intention to impede the assessment
or collection of any federal, state or local taxes legally required to be paid
with respect to such Residual Certificate.
8. That the Purchaser will not transfer a Residual Certificate to any
person or entity (i) as to which the Purchaser has actual knowledge that the
requirements set forth in paragraph 3, paragraph 6 or paragraph 10 hereof are
not satisfied or that the Purchaser has reason to believe does not satisfy the
requirements set forth in paragraph 7 hereof, and (ii) without obtaining from
the prospective Purchaser an affidavit substantially in this form and providing
to the Trustee a written statement substantially in the form of Exhibit G to the
Agreement.
9. That the Purchaser understands that, as the holder of a Residual
Certificate, the Purchaser may incur tax liabilities in excess of any cash flows
generated by the interest and that it intends to pay taxes associated with
holding such Residual Certificate as they become due.
10. That the Purchaser (i) is not a Non-U.S. Person or (ii) is a Non-U.S.
Person that holds a Residual 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 such
Residual Certificate to it is in accordance with the requirements of the Code
and the regulations promulgated thereunder and that such transfer of a Residual
Certificate will not be disregarded for federal income tax purposes. "Non-U.S.
Person" means an individual, corporation, partnership or other person other than
(i) a citizen or resident of the United States; (ii) a corporation (or entity
treated as a corporation for tax purposes) created or organized in the United
States or under the laws of the United States or of any state thereof,
including, for this purpose, the District of Columbia; (iii) a partnership (or
entity treated as a partnership for tax purposes) organized in the United States
or under the laws of the United States or of any state thereof, including, for
this purpose, the District of Columbia (unless provided otherwise by future
Treasury regulations); (iv) an estate whose income is includible in gross income
for United States income tax purposes regardless of its source; or (v) a trust,
if a court within the United States is able to exercise primary supervision over
the administration of the trust and one or more U.S. Persons have authority to
control all substantial decisions of the trust. Notwithstanding the last clause
of the preceding sentence, to the extent provided in Treasury regulations,
certain trusts in existence on August 20, 1996, and treated as U.S. Persons
prior to such date, may elect to continue to be U.S. Persons.
11. 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 any Residual Certificate to such a "disqualified organization," an
agent thereof, a Book-Entry Nominee, or a person that does not satisfy the
requirements of paragraph 7 and paragraph 10 hereof.
12. That the Purchaser consents to the designation of the Company as its
agent to act as "tax matters person" of the Trust Fund, pursuant to the Pooling
and Servicing Agreement.
<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:
Title:
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 G
[LETTER FROM TRANSFEROR OF RESIDUAL CERTIFICATE]
-------------------
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Mortgage Pass-Through
Certificates, Series 1999-17
Ladies and Gentlemen:
_______________________ (the "Transferor") has reviewed the attached
affidavit of _____________________________ (the "Transferee"), and has no actual
knowledge that such affidavit is not true and has no reason to believe that the
information contained in paragraph 7 thereof is not true, and has no reason to
believe that the Transferee has the intention to impede the assessment or
collection of any federal, state or local taxes legally required to be paid with
respect to a Residual Certificate. In addition, the Transferor has conducted a
reasonable investigation at the time of the transfer and found that the
Transferee had historically paid its debts as they came due and found no
significant evidence to indicate that the Transferee will not continue to pay
its debts as they become due.
Very truly yours,
-------------------------------
Name:
Title:
<PAGE>
EXHIBIT H
ADDITIONAL SERVICER COMPENSATION
QUALIFIED ADMINISTRATIVE EXPENSES
(Conventional, Non-Conforming Loans)
Assumption Fees $550 - $800
Late Charges Per Loan Documents
Appraisal/Inspection Fees Reasonable and Customary
Charges
Partial Release Fees $300
Easements $150
Insufficient Funds Charges $15
Document Requests (copies of loan file
documents, additional pay-off quotations,
amortization schedules, payment histories) $0
Modification Fees Reasonable and Customary
Charges
<PAGE>
EXHIBIT I
FORM OF INVESTMENT LETTER FOR
DEFINITIVE RESTRICTED CERTIFICATES
---------------------
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Mortgage Pass Through
Certificates, Series 1999-17
Ladies and Gentlemen:
1. The undersigned, a [title of officer] _______________ of [name of
Investor] _________________________________________ (the "Investor"), a
______________ ___________________ [description of type of entity] duly
organized and existing under the laws of the [State of __________________]
[United States], hereby certifies as follows:
2. The Investor hereby acknowledges that under the terms of the Pooling and
Servicing Agreement between State Street Bank and Trust Company, as Trustee, and
GE Capital Mortgage Services, Inc. (the "Company"), dated as of August 1, 1999
(the "Agreement"), no transfer of a Restricted Certificate may be made unless
such transfer is exempt from the registration requirements of the Securities Act
of 1933, as amended (the "Securities Act"), and any applicable state securities
laws, or is made in accordance with the Securities Act and such laws.
3. The Investor understands that (a) the Restricted Certificates have not
been and will not be registered or qualified under the Securities Act, or the
securities laws of any state, (b) neither the Company nor the Trustee is
required, and neither intends, to so register or qualify the Restricted
Certificates, (c) the Restricted Certificates cannot be resold unless (i) they
are registered and qualified under the Securities Act and the applicable state
securities laws or (ii) such sale is exempt from the requirements of the
Securities Act, (d) the Agreement contains restrictions regarding the transfer
of the Restricted Certificates and (e) the Restricted Certificates will bear a
legend to the foregoing effect.
4. The Investor is acquiring the Restricted Certificates for its own
account for investment only and not with a view to or for sale or other transfer
in connection with any distribution of the Restricted Certificates in any manner
that would violate the Securities Act or any applicable state securities laws.
5. The Investor (a) is a substantial, sophisticated institutional investor
having such knowledge and experience in financial and business matters, and in
particular in such matters related to securities similar to the Restricted
Certificates, such that it is capable of evaluating the merits and risks of
investment in the Restricted Certificates, (b) is able to bear the economic
risks of such an investment and (c) is an "accredited investor" within the
meaning of Rule 501(a)(1), (2), (3) or (7) promulgated pursuant to the
Securities Act.
6. The Investor will not authorize nor has it authorized any person to (a)
offer, pledge, sell, dispose of or otherwise transfer any Restricted
Certificate, any interest in any Restricted Certificate or any other similar
security to any person in any manner, (b) solicit any offer to buy or to accept
a pledge, disposition or other transfer of any Restricted Certificate, any
interest in any Restricted Certificate or any other similar security from any
person in any manner, (c) otherwise approach or negotiate with respect to any
Restricted Certificate, any interest in any Restricted Certificate or any other
similar security with any person in any manner, (d) make any general
solicitation by means of general advertising or in any other manner, or (e) take
any other action that would constitute a distribution of any Restricted
Certificate under the Securities Act, that would render the disposition of any
Restricted Certificate a violation of Section 5 of the Securities Act or any
state securities law, or that could require registration or qualification
pursuant thereto. Neither the Investor nor anyone acting on its behalf has
offered the Restricted Certificates for sale or made any general solicitation by
means of general advertising or in any other manner with respect to the
Restricted Certificates. The Investor will not sell or otherwise transfer any of
the Restricted Certificates, except in compliance with the provisions of the
Agreement.
7. If an Investor in a Restricted Certificate sells or otherwise transfers
any such Certificate to a transferee other than a "qualified institutional
buyer" under Rule 144A of the Securities Act, such Investor will obtain (a) from
any subsequent purchaser the same certifications, representations, warranties
and covenants contained in the foregoing paragraphs and in this paragraph or (b)
an opinion of counsel in form and substance satisfactory to the Trustee pursuant
to the Agreement.
8. The Investor hereby indemnifies the Trustee and the Company against any
liability that may result if the Investor's transfer of a Restricted Certificate
(or any portion thereof) is not exempt from the registration requirements of the
Securities Act and any applicable state securities laws or is not made in
accordance with such federal and state laws. Such indemnification of the Trustee
and the Company shall survive the termination of the Agreement.
[9. The Restricted Certificates shall be registered in the name of
_____________________________ as nominee for the Investor.]
IN WITNESS WHEREOF, the Investor 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 Investor]
By:______________________________
Name:
Title:
The undersigned hereby acknowledges that it is holding and will hold
the Restricted Certificates at the exclusive direction of and as nominee of the
Investor named above.
- ------------------------------
[name of nominee]
By:__________________________
Name:
Title:
<PAGE>
EXHIBIT J
FORM OF DISTRIBUTION DATE STATEMENT
-----------------, ------
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Mortgage Pass-Through Certificates,
Series 1999-17
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and State Street Bank and Trust Company (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
<TABLE>
<CAPTION>
(1) Amount of distribution allocable to principal:
<S> <C> <C>
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(2) Aggregate principal prepayments included in distribution:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(3) Amount of distribution allocable to interest; Pay-out Rate:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
Class S $__________ ____%
(4) Accrual Amount:
Class A5 $__________
(5) Amount of distribution allocable to Unanticipated Recoveries:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class PO $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
(6) Servicing Compensation: $__________
The amounts below are for the aggregate of all Certificates:
(7) Pool Scheduled Principal Balance; number of Mortgage Loans:$__________ __________
(8) Class Certificate Principal Balance (or Notional Principal Balance) of each Class; Certificate Principal Balance (or
Notional Principal Balance) of Single Certificate of each
Class:
Single
-----------------------------------------------------
Class Certificate
Balance Balance
-------------------------------------
Class A1 $__________ $__________
Class A2 $__________ $__________
Class A3 $__________ $__________
Class A4 $__________ $__________
Class A5 $__________ $__________
Class A6 $__________ $__________
Class A7 $__________ $__________
Class A8 $__________ $__________
Class A9 $__________ $__________
Class A10 $__________ $__________
Class A11 $__________ $__________
Class A12 $__________ $__________
Class PO $__________ $__________
Class M $__________ $__________
Class B1 $__________ $__________
Class B2 $__________ $__________
Class B3 $__________ $__________
Class B4 $__________ $__________
Class B5 $__________ $__________
Class R $__________ $__________
Class S $__________ $__________
(9) Book value of real estate acquired on behalf of
Certificateholders; number of related Mortgage Loans: $__________ __________
(10) Aggregate Scheduled Principal Balance and number of
delinquent Mortgage Loans:
30-59 days delinquent $__________ __________
60-89 days delinquent $__________ __________
90 or more days delinquent $__________ __________
In foreclosure $__________ __________
(11) Aggregate Scheduled Principal Balance and number of replaced
Mortgage Loans: $__________ __________
(12) Certificate Interest Rate of:
Class S Certificate: __________%
(13) Senior Percentage for such Distribution Date: __________%
(14) Class A3 Percentage for such Distribution Date: __________%
(15) Class A3 Scheduled Distribution Percentage for such
Distribution Date: __________%
(16) Senior Prepayment Percentage for such Distribution Date: __________%
(17) Class A3 Prepayment Distribution for such Distribution Date: __________%
(18) Junior Percentage for such Distribution Date: __________%
(19) Junior Prepayment Percentage for such Distribution Date: __________%
Capitalized terms used in this Statement shall have the same meanings as in
the Agreement.
</TABLE>
<PAGE>
EXHIBIT K
FORM OF SPECIAL SERVICING
AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT (the "Agreement") is
made and entered into as of ____________________, 199_, between GE Capital
Mortgage Services, Inc. (the "Company") and _____________________________ (the
"Purchaser").
PRELIMINARY STATEMENT
___________________________ or an affiliate thereof is the holder of the
entire interest in REMIC Mortgage Pass-Through Certificates, Series 199_-__,
Class B_ (the "Class B_ Certificates"). The Class B_ Certificates were issued
pursuant to a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of ________ 1, 199_ between the Company (in its capacity as
servicer thereunder, the "Servicer") and State Street Bank and Trust Company as
Trustee.
____________________________ or an affiliate thereof 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, as Servicer, will 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.
[The parties hereto have further agreed that the Purchaser will have no
rights, and the Company will have no obligations under this Agreement until the
Class Certificate Principal Balance of the REMIC Mortgage Pass-Through
Certificates, Series 199_-__, Class B5 (the "Class B5 Certificates") has been
reduced to zero, and any Special Servicing and Collateral Fund Agreement in
respect of such Class between the Company and the Purchaser has been
terminated.]
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 upon the acquisition by the
Purchaser of the Class B_ Certificates.
<PAGE>
ARTICLE I
DEFINITIONS
Section 1.01. 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 of (ii) a day
on which banking institutions in New York City or Boston, Massachusetts 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) repurchase agreements on
obligations specified in clause (i) provided that the unsecured obligations of
the party agreeing to repurchase such obligations are at the time rated by each
Rating Agency in the highest long-term rating category, (iii) federal funds,
certificates of deposit, time deposits and banker's acceptances of any U.S.
depository institution or trust company incorporated under the laws of the
United States or any state provided that the debt obligations of such depository
institution or trust company at the date of acquisition thereof have been rated
by each Rating Agency in the highest long-term rating category, (iv) commercial
paper of any corporation incorporated under the laws of the United States or any
state thereof which on the date of acquisition has the highest short term rating
of each Rating Agency, and (v) other obligations or securities that are
acceptable to each Rating Agency as a Collateral Fund Permitted Investment
hereunder and will not, as evidenced in writing, result in a reduction or
withdrawal in the then current rating of the Certificates and, for each of the
preceding clauses, 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
Business Day preceding the next succeeding Distribution Date.
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, the posting, 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 and, upon the consent of the Purchaser which will
be deemed given unless expressly withheld within two Business Days of
notification, (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 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).
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 adjustments for all
withdrawals and deposits prior to such date pursuant to Section 2.02(e)) and
Section 2.03(b) (after adjustment for all withdrawals and deposits prior to such
date pursuant to Section 2.03(c)) and Section 3.02, reduced by all withdrawals
therefrom prior to such date pursuant to Section 2.02(g) and Section 2.03(d).
Section 1.02. 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 2.01. 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 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, as Servicer, shall
provide to the Purchaser a report, using the same methodology and
calculations in its standard servicing reports, indicating for the Trust
Fund 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 provide the Purchaser with a notice (sent
by facsimile transmission) 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 the Company to an attorney requesting the
institution of foreclosure or a copy of a request to foreclose received by
the Company from the related primary servicer which has been approved by
the Company.
(b) If requested by the Purchaser, the Company shall make its servicing
personnel available (during their normal business hours) to respond to
reasonable inquiries, in writing by facsimile transmission, by the Purchaser in
connection with any Mortgage Loan identified in a report under subsection (a)(i)
or (a)(ii) which has been given to the Purchaser, provided, that (1) the Company
shall only be required to provide information that is readily accessible to its
servicing personnel and is non-confidential and (2) the Company shall respond
within five Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall provide to the
Purchaser such information as the Purchaser may reasonably request concerning
each Mortgage Loan that is at least sixty days delinquent and each Mortgage Loan
which has become real estate owned, through the final liquidation thereof,
provided, that the Company shall only be required to provide information that is
readily accessible to its servicing personnel and is non-confidential.
Section 2.02. Purchaser's Election to Delay Foreclosure Proceedings.
(a) The Purchaser shall be deemed to direct the Company 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
Company 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 Company) or
(ii) with notice to the Purchaser if the Company has reached the terms of a
forbearance agreement with the borrower. In such latter case the Company may
complete such forbearance agreement unless instructed otherwise by the Purchaser
within two Business Days of 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 delay the Commencement of Foreclosure until
such time as the Purchaser determines that the Company 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).
The Purchaser shall send a copy of such notice of election to each Rating Agency
as soon as practicable thereafter. 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 within such 24-hour period; provided, however, that the Purchaser
will have at least one Business Day to make such election following its receipt
of any requested additional information. Any such additional information shall
(i) not be confidential in nature and (ii) be obtainable by the Company from
existing reports, certificates or statements or otherwise be readily accessible
to its servicing personnel. The Purchaser agrees that it has no right to deal
with the mortgagor. However, if the Company's normal foreclosure policies
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, 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 Trustee, 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 Scheduled 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 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"), the Purchaser shall remit by
wire transfer in advance to the Trustee 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 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 the above amounts
relating to the Mortgage Loan within two Business Days of (i) the Election to
Delay Foreclosure or (ii) the beginning of the related Excess Period, as the
case may be.
(e) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Delay Foreclosure, the Company or the Trustee may withdraw from the
Collateral Fund from time to time amounts necessary to reimburse the Company for
all related Monthly Advances and Liquidation Expenses thereafter made by the
Company as Servicer in accordance with the Pooling and Servicing Agreement. To
the extent that the amount of any such Liquidation Expense is determined by the
Company based on estimated costs, and the actual costs are subsequently
determined to be higher, the Company or the Trustee may withdraw the additional
amount from the Collateral Fund to reimburse the Company. In the event that the
Mortgage Loan is brought current by the mortgagor, the amounts so withdrawn from
the Collateral Fund shall be redeposited therein as and to the extent that
reimbursement therefor from amounts paid by the mortgagor is not prohibited
pursuant to the Pooling and Servicing Agreement as of the date hereof. 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
previous withdrawals and deposits pursuant to this subsection and after
reimbursement to the Servicer for all related Monthly Advances) 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 Company 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, following such
election, the Purchaser shall notify the Company that it believes that it is
appropriate to do so, the Company shall proceed with the Commencement of
Foreclosure; provided that, 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, unless the Purchaser shall
have purchased the related Mortgage Loan promptly following (and in any event
not later than the third Business Day after) the end of such 6-month period in
the manner provided in the following two sentences, and the Company shall be
entitled to proceed with the Commencement of Foreclosure. Any purchase of such
Mortgage Loan by the Purchaser pursuant to the preceding sentence shall be at a
purchase price equal to the unpaid principal balance of the Mortgage Loan plus
accrued interest at the Mortgage Rate from the date last paid by the mortgagor.
Such purchase price shall be deposited by the Purchaser into the Collateral Fund
in immediately available funds on the Business Day which is the date of purchase
and the Purchaser shall instruct the Trustee (with notice to the Company) to
withdraw such amount therefrom on such Business Day and remit the same to the
Trust Fund for application as Liquidation Proceeds pursuant to the Pooling and
Servicing Agreement. Following such withdrawal, all amounts remaining in the
Collateral Fund in respect of such Mortgage Loan (after adjustment for all
previous withdrawals and deposits pursuant to this Agreement and after
reimbursement to the Servicer for all related Monthly Advances) shall be
released to the Purchaser.
(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 Company 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 unreimbursed Monthly Advances related to the extended
foreclosure period), and the Company or the Trustee shall withdraw the amount of
such excess from the Collateral Fund and shall remit the same to the Trust Fund
for application 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
withdrawals and deposits pursuant to subsection (e) and after reimbursement to
the Servicer for all related Monthly Advances) shall be released to the
Purchaser.
Section 2.03. 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
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 Trustee, for deposit in the Collateral Fund, an
amount, as calculated by the Company, equal to 125% of the current Scheduled
Principal Balance of the Mortgage Loan and three months' interest on the
Mortgage Loan at the applicable Mortgage 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 withdrawals and deposits
pursuant to subsection (c) below) shall be released to the Purchaser. 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.
(c) With respect to any Mortgage Loan as to which the Purchaser has made an
Election to Foreclose, the Company shall continue to service the Mortgage Loan
in accordance with its customary procedures. In connection therewith, the
Company shall have the same rights to make withdrawals for Monthly Advances and
Liquidation 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. The Company shall not be required 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, which may result in a repurchase or substitution of
such Mortgage Loan, or (iii) the Company has or expects to have the right under
the Pooling and Servicing Agreement to purchase the defaulted Mortgage Loan and
intends to exercise such right or (iv) the Company reasonably believes the
Mortgaged Property may be contaminated with or affected by hazardous wastes or
hazardous substances (and the Company supplies the Purchaser with information
supporting such belief) or (v) the same is prohibited by or is otherwise
inconsistent with the provisions of the Pooling and Servicing Agreement. 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 Purchaser) or (ii) with notice to the Purchaser if
the Company has reached the terms of a forbearance agreement unless instructed
otherwise by the Purchaser within two Business Days of notification.
(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
Company proceeded with the Commencement of Foreclosure in accordance with
subsection (c) above, the Company shall calculate the amount, if any, by which
the Scheduled Principal Balance of the Mortgage Loan at the time of liquidation
(plus all unreimbursed Monthly Advances and Liquidation Expenses in connection
therewith other than those previously paid from the Collateral Fund) exceeds the
actual sales price obtained for the related Mortgaged Property, and the Company
or the Trustee shall withdraw the amount of such excess from the Collateral Fund
and shall remit the same to the Trust Fund for application 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) above and
after reimbursement to the Servicer for all related Monthly Advances) in respect
of such Mortgage Loan shall be released to the Purchaser.
Section 2.04. Termination.
(a) With respect to all Mortgage Loans included in the Trust Fund, 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 on
the earliest to occur of the following: (i) at such time as the Class
Certificate 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 Company's actual loss experience with respect to the Mortgage
Loans) 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 the
aggregate book value of REO properties or (y) the aggregate amount that the
Company estimates through its normal servicing practices 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
Foreclose exceeds (z) the then-current Class Certificate Principal Balance of
the Class B_ Certificates, or (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 [or in the Class B5 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 Fund. Unless earlier
terminated as set forth herein, this Agreement and the respective rights,
obligations and responsibilities of the Purchaser and the Company hereunder
shall terminate immediately upon (x) 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
(10) Business Days' notice or (y) the occurrence of any event that results in
the Purchaser becoming an "affiliate" of the Trustee within the meaning of the
Prohibited Transaction Exemption (as defined in the Pooling and Servicing
Agreement).
(b) The Purchaser's rights pursuant to Section 2.02 or 2.03 of this
Agreement shall terminate with respect to a Mortgage Loan as to which the
Purchaser has exercised its rights under Section 2.02 or 2.03 hereof, upon
Purchaser's failure to deposit any amounts required pursuant to Section 2.02(d)
or 2.03(b) after one Business Day's notice of such failure.
Section 2.05. Notification. The Purchaser shall promptly notify the Trustee
and the Company if such Purchaser becomes aware of any discussions, plans or
events that might lead to such Person's becoming an "affiliate" (within the
meaning of the Prohibited Transaction Exemption) of the Trustee, provided that
the contents of any such notification shall be kept confidential by the parties
to this Agreement.
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund. Upon payment by the Purchaser of the initial
amount required to be deposited in the Collateral Fund pursuant to Article II,
the Company shall request the Trustee to establish and maintain with the Trustee
a segregated account entitled "REMIC Mortgage Pass-Through Certificates 199_-__
Collateral Fund, for the benefit of GE Capital Mortgage Services, Inc. and State
Street Bank and Trust Company on behalf of Certificateholders, as secured
parties" (the "Collateral Fund"). 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 such secured parties,
until withdrawn from the Collateral Fund pursuant to the Section 2.02 or 2.03
hereof.
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 to the Purchaser all amounts remaining in the Collateral Fund
together with any investment earnings thereon (after giving effect to all
withdrawals therefrom permitted under this Agreement).
The Purchaser shall not take or direct the Company or the Trustee to take
any action contrary to any provision of the Pooling and Servicing Agreement. In
no event shall the Purchaser (i) take or cause the Trustee or the Company to
take any action that could cause any REMIC established under the Pooling and
Servicing Agreement to fail to qualify as a REMIC or cause the imposition on any
such REMIC of any "prohibited transaction" or "prohibited contribution" taxes or
(ii) cause the Trustee or the Company to fail to take any action necessary to
maintain the status of any such REMIC as a REMIC.
Section 3.02. Collateral Fund Permitted Investments. The Company shall, at
the written direction of the Purchaser, direct the Trustee to invest the funds
in the Collateral Fund in the name of the Trustee in Collateral Fund Permitted
Investments. Such direction shall not be changed more frequently then quarterly.
In the absence of any direction, the Company shall direct the Trustee 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 promptly deposited by the Purchaser in
the Collateral Fund. The Company shall periodically (but not more frequently
than monthly) direct the Trustee to distribute to the Purchaser upon request an
amount of cash, to the extent cash is available therefor 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 3.03. Grant of Security Interest. In order to secure the
obligations of the Purchaser hereunder to the Company and the Trustee for the
benefit of Certificateholders (other than its obligations under Section 4.10),
the Purchaser hereby grants to the Company and to the Trustee for the benefit of
the Certificateholders 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
or involuntary conversion thereof (all of the foregoing collectively, the
"Collateral").
The Purchaser acknowledges the lien on and security interest in the
Collateral for the benefit of the Company and the Trustee on behalf of the
Certificateholders. The Purchaser shall take all actions requested by the
Company or the Trustee 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 or at its direction the Trustee for filing of appropriate
financing statements in accordance with applicable law.
Section 3.04. 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 or the Trustee is then entitled to make hereunder,
the Purchaser shall be obligated to pay such amounts to the Company or the
Trustee 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 4.01. 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 provided that no such amendment shall have a material adverse effect
on the holders of other Classes of Certificates.
Section 4.02. 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 4.03. 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 4.04. 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, with respect to notices pursuant to
Sections 2.02 and 2.03 hereto,
GE Capital Mortgage Services, Inc.
4680 Hallmark Parkway
San Bernardino, California 92407
Attention: Ken Scheller
Telephone: (909) 880-4608
Facsimile: (909) 473-2273
with respect to all other notices pursuant to this Agreement,
GE Capital Mortgage Services, Inc.
Three Executive Campus
Cherry Hill, New Jersey 08002
Attention: General Counsel
Telephone: (609) 661-6515
Facsimile: (609) 661-6875
or such other address as may hereafter be furnished in writing by the
Company, or
(b) in the case of the Purchaser, with respect to notices pursuant to
Section 2.01,
--------------------------------
--------------------------------
Attention:______________________
Telephone:______________________
Facsimile:______________________
with respect to all other notices pursuant to this Agreement,
================================
--------------------------------
Attention:______________________
Telephone:______________________
Facsimile:______________________
or such other address as may hereafter be furnished in writing by the
Purchaser, or
(c) in the case of the Trustee,
State Street Bank and Trust Company
Corporate Trust Department
8th Floor
225 Franklin Street
Boston, Massachusetts 02110
Attention: Karen Beard
Telephone: (617) 664-5465
Facsimile: (617) 664-5167
Section 4.05. Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever, including regulatory, 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.
Section 4.06. Successor and Assigns. The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and the
respective successors and assigns of the parties hereto; provided, however, that
the rights under this Agreement cannot be assigned by the Purchaser without the
consent of the Company.
Section 4.07. 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 4.08. Third Party Beneficiaries. The Trustee on behalf of
Certificateholders is the intended third party beneficiary of this Agreement.
Section 4.09. Confidentiality. The Purchaser agrees that all information
supplied by or on behalf of the Company pursuant to Section 2.01 or 2.02,
including individual account information, is the property of the Company and the
Purchaser agrees to use such information solely for the purposes set forth in
this Agreement and to hold such information confidential and not to disclose
such information.
Section 4.10. Indemnification. The Purchaser agrees to indemnify and hold
harmless the Company against any and all losses, claims, damages or liabilities
to which it 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 the Company in accordance with the provisions of this Agreement
and which actions conflict or are alleged to conflict with the Company's
obligations under the Pooling and Servicing Agreement. The Purchaser hereby
agrees to reimburse the Company on demand for the reasonable legal or other
expenses incurred by it in connection with investigating or defending any such
loss, claim, damage, liability or action.
[Section 4.11. Delayed Effectiveness. The Purchaser agrees that,
notwithstanding any other provision of this Agreement, the Purchaser shall have
no rights hereunder, and the Company shall have no obligations hereunder, until
the Class Certificate Principal Balance of the Class B5 Certificates has been
reduced to zero and any Special Servicing and Collateral Fund Agreement between
the Company and the Purchaser relating to such Class B5 Certificates has been
terminated.]
<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.
GE CAPITAL MORTGAGE SERVICES, INC.
By:________________________________
Name:
Title:
[PURCHASER]
By:_______________________________
Name:
Title:
Acknowledged and agreed to:
STATE STREET BANK AND TRUST COMPANY
By:___________________________________
Name:
Title:
<PAGE>
EXHIBIT L
FORM OF LOST NOTE AFFIDAVIT AND AGREEMENT
I, _________________________________________, being duly sworn, do hereby
state under oath that:
1. I am a duly elected ______________________ of GE Capital Mortgage
Services, Inc. (the "Company") and am duly authorized to make this affidavit.
2. This affidavit is being delivered in connection with the transfer of the
Mortgage Loan described in Paragraph 3 hereof by the Company pursuant to the
Pooling and Servicing Agreement dated as of [date] between the Company, Seller
and Servicer, and State Street Bank and Trust Company, Trustee, relating to the
Company's REMIC Mortgage Pass-Through Certificates, Series [____] ("Agreement").
Such Mortgage Loan constitutes a Designated Loan.
3. The Company is the payee under the following described Mortgage Note
("Mortgage Note") which evidences the obligation of the borrower(s) to repay the
Mortgage Loan:
Loan Number: __________________________________
Mortgage Note Date:_____________________________
Borrower(s): ___________________________________
Original Payee (if not the Company): ___________
Original Amount:________________________________
Mortgage Rate: _________________________________
Address of Mortgaged Property: _________________
------------------------------------------------
4. The Company is the lawful owner of the Mortgage Note and has not
cancelled, altered, assigned or hypothecated the Mortgage Note.
5. A thorough and diligent search for the executed original Mortgage Note
was undertaken and was unsuccessful.
6. Attached hereto is a true and correct copy of the Mortgage Note.
7. The Mortgage Note has not been endorsed by the Company in any manner
inconsistent with its transfer of the Mortgage Loan under the Agreement.
8. Without limiting the generality of the rights and remedies of the
Trustee contained in the Agreement, the Company hereby confirms and agrees that
in the event the inability to produce the executed original Mortgage Note
results in a breach of the representations and warranties appearing in Agreement
subsections 2.03(a)(ii) (the validity and enforceability of the lien created by
the Mortgage Loan) or (x) (no valid offset, defense or counterclaim to any
Mortgage Note or Mortgage), the Company shall repurchase the Mortgage Loan at
the Purchase Price and otherwise in accordance with Section 2.03(b) of the
Agreement. In addition, the Company covenants and agrees to indemnify the
Trustee and the Trust Fund from and hold them harmless against any and all
losses, liabilities, damages, claims or expenses (other than those resulting
from negligence or bad faith of the Trustee) arising from the Company's failure
to have delivered the Mortgage Note to the Trustee, including without limitation
any such losses, liabilities, damages, claims or expenses arising from any
action to enforce the indebtedness evidenced by the Mortgage Note or any claim
by any third party who is the holder of such indebtedness by virtue of
possession of the Mortgage Note.
9. In the event that the Company locates the executed original Mortgage
Note, it shall promptly provide the Mortgage Note to the Trustee.
10. Capitalized terms not otherwise defined herein shall have the meanings
given them in the Agreement.
Date: _______________________
------------------------------
(signature)
------------------------------
(print name)
------------------------------
(print title)
<PAGE>
State of New Jersey )
)ss:
)
On this ____________________day of ___________________, 199__, before me
appeared ____________________________, to me personally known, who acknowledged
the execution of the foregoing and who, having been duly sworn states that
he/she is a/the ______________________________of GE Capital Mortgage Services,
Inc., that any representations therein contained are true, that this Lost Note
Affidavit was signed and sealed on behalf of GE Capital Mortgage Services, Inc.
and that this Lost Note Affidavit is the free act and deed of GE Capital
Mortgage Services, Inc.
---------------------------------------
(Notary Public)
[Notarial Seal]
<PAGE>
EXHIBIT M
SCHEDULE OF DESIGNATED LOANS
SERIES 1999-17
LOAN NO. ORIGINAL PRINCIPLE BALANCE BORROWER NAME
80152143 $ 287,500.00 KOSS
<PAGE>
EXHIBIT N
SCHEDULE OF PLEDGED ASSET MORTGAGE LOANS
NONE
<PAGE>
EXHIBIT O
SENIOR PRINCIPAL PRIORITIES
third, to the classes of senior certificates entitled to principal
distributions, in reduction of the aggregate class certificate principal
balances (the "Class Certificate Principal Balances") thereof, to the extent of
remaining Available Funds, concurrently, as follows:
(1) to the Class Al through A12 Certificates and the Class R Certificates,
the Senior Optimal Principal Amount for such Distribution Date, in the following
order of priority:
(a) to the Class A3 Certificates, the Class A3 Principal Distribution
Amount (as defined herein) for such Distribution Date, until the Class
Certificate Principal Balance thereof has been reduced to zero; and
(b) to each of the Class Al, Class A2, Class A4, Class A5, Class A6, Class
A7, Class A8, Class A9, Class A10, Class A11, Class A12 and Class R Certificates
(together, the "Group I Senior Certificates"), the Senior Optimal Principal
Amount for such Distribution Date, less the Class A3 Principal Distribution
Amount for such Distribution Date (such reduced amount, the "Group I Senior
Principal Distribution Amount"), in the following order of priority:
(I) to the Class R Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero;
(II) to the Class Al, Class A2, Class A6, Class A7, Class A8, Class A9,
Class A10, Class A11 and Class A12 Certificates, until the aggregate Class
Certificate Principal Balances of such Certificates (other than the Class A6
Certificates) has been reduced since the date of initial issuance of the
Certificates (the "Closing Date") pursuant to this clause (1)(b)(II) to
approximately $8,004,849, concurrently, as follows:
(A) approximately 93.1753526052% of the amount distributable under clause
(1)(b)(II), to the Class A1, Class A2, Class A7, Class A8, Class A9, Class A10,
Class A11 and Class A12 Certificates, in the following order of priority:
(i) to the Class Al, Class A7, Class A8, Class A9, Class A10, Class A11 and
Class A12 Certificates, until the Class Certificate Principal Balance of the
Class A7, Class A8, Class A9 and Class A11 Certificates have each been reduced
to zero, concurrently, as follows:
(aa) approximately 84.1901511096% of the amount distributable under clause
(1)(b)(II)(A), to the Class Al, Class A10, Class A11 and Class A12 Certificates,
in the following order of priority:
1st, to the Class Al and Class A12 Certificates, until the Class
Certificate Principal Balance of the Class Al Certificates has been reduced to
zero, concurrently, as follows:
(w) approximately 18.9587680768% of the amount distributable under clause
(1)(b)(II)(A)(i)(aa), to the Class Al Certificates; and
(x) approximately 81.0412319232% of the amount distributable under clause
(1)(b)(II)(A)(i)(aa), to the Class Al 2 Certificates;
2nd, to the Class A10 and Class A12 Certificates, until the Class
Certificate Principal Balance of each such Class has been reduced to zero,
concurrently, as follows:
(w) approximately 57.9244338745% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(aa), to the Class A10 Certificates; and
(x) approximately 42.0755661255% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(aa), to the Class Al 2 Certificates; and
3rd, to the Class A11 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero;
(bb) approximately 15.8098488904% of the amount distributable under clause
(1)(b)(II)(A), to the Class Al, Class A7, Class A8, Class A9, Class A10, Class
A11 and Class A12 Certificates, in the following order of priority:
1st, to the Class At, Class A10, Class Al I and Class A12 Certificates,
until the aggregate Class Certificate Principal Balances of the Class A1, Class
A10, Class A11 and Class A12 Certificates has been reduced since the Closing
Date pursuant to this clause (1) (b) (II) (A) (i) (bb) (1st) by approximately
$11,332,000, in the following order of priority:
(w) to the Class A1 and Class A12 Certificates, until the Class Certificate
Principal Balance of the Class A1 Certificates has been reduced to zero,
concurrently, as follows:
(i) approximately 18.9587680768% of the amount distributable under clause
(1)(b)(II)(A)(i)(bb), to the Class A1 Certificates; and
(ii) approximately 81.0412319232% of the amount distributable under clause
(1)(b)(II)(A)(i)(bb), to the Class A12 Certificates;
(x) to the Class A10 and Class A12 Certificates, until the Class
Certificate Principal Balance of each such Class has been reduced to zero,
concurrently, as follows:
(i) approximately 57.9244338745% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A10 Certificates; and
(ii) approximately 42.0755661255% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A12 Certificates; and
(y) to the Class A11 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero;
2nd, to the Class A1, Class A7, Class A8, Class A9, Class A10, Class A11
and Class A12 Certificates, until the Class Certificate Principal Balances of
the Class A7, Class A8 and Class A9 Certificates have each been reduced to zero,
concurrently, as follows:
(w) approximately 9.6860048474% of the remaining amount distributable under
clause (1)(b)(II)(A)(i)(bb), in the following order of priority:
(i) to the Class A1 and Class A12 Certificates, until the Class Certificate
Principal Balance of the Class A1 Certificates has been reduced to zero,
concurrently, as follows:
(ww) approximately 18.9587680768% of the amount distributable under clause
(1)(b)(II)(A)(i)(bb)(2nd)(w), to the Class A1 Certificates; and
(xx) approximately 81.0412319232% of the amount distributable under clause
(1)(b)(II)(A)(i)(bb)(2nd)(w), to the Class A12 Certificates;
(ii) to the Class A10 and Class A12 Certificates, until the Class
Certificate Principal Balance of each such Class has been reduced to zero,
concurrently, as follows:
(ww) approximately 57.9244338745% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb)(2nd)(w), to the Class A10 Certificates; and
(xx) approximately 42.0755661255% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb)(2nd)(w), to the Class A12 Certificates; and
(iii) to the Class A11 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero;
(x) approximately 43.9032481291% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A7 Certificates;
(y) approximately 1.5679693844% of the remaining amount distributable under
clause (1)(b)(II)(A)(i)(bb), to the Class A8 Certificates; and
(z) approximately 44.8427776391% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A9 Certificates; and
3rd, to the Class A1, Class A10, Class A11 and Class A12 Certificates,
until the aggregate Class Certificate Principal Balances of the Class A1, Class
A10, Class A11 and Class A12 Certificates has been reduced since the Closing
Date pursuant to this clause (1)(b)(II)(A)(i)(bb)(3rd) by approximately
$10,639,000, in the following order of priority:
(w) to the Class A1 and Class A12 Certificates, until the Class Certificate
Principal Balance of the Class A1 Certificates has been reduced to zero,
concurrently, as follows:
(i) approximately 18.9587680768% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A1 Certificates; and
(ii) approximately 81.0412319232% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A12 Certificates;
(x) to the Class A10 and Class A12 Certificates, until the Class
Certificate Principal Balance of each such Class has been reduced to zero,
concurrently, as follows:
(i) approximately 57.9244338745% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A10 Certificates; and
(ii) approximately 42.0755661255% of the remaining amount distributable
under clause (1)(b)(II)(A)(i)(bb), to the Class A12 Certificates; and
(y) to the Class A11 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(ii) to the Class A2 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(B) approximately 6.8246473948% of the amount distributable under clause
(1)(b)(II), to the Class A1, Class A2, Class A6, Class A7, Class A8, Class A9,
Class A10, Class A11 and Class A12 Certificates, in the following order of
priority:
(i) to the Class A6 Certificates, until the Class Certificate Principal
Balance thereof has been reduced since the Closing Date pursuant to this clause
(1)(b)(II)(B)(i) by approximately $11,956,000; and
(ii) to the Class A1, Class A2, Class A7, Class A8, Class A9, Class A10,
Class A11 and Class A12 Certificates, until the aggregate Class Certificate
Principal Balances of such Certificates has been reduced since the Closing Date
pursuant to this clause (1)(b)(II)(B)(ii) by approximately $3,709,830, in the
order of priority and in the amounts specified in clauses (1)(b)(II)(A)(i)
(including all subclauses thereof) and (1)(b)(II)(A)(ii) in that order, as if
the references in such clauses to the amount distributable under clause
(1)(b)(II) (A) were references to the remaining amount distributable under
clause (1)(b)(II)(B); and
(III) to the Class Al, Class A2, Class A7, Class A8, Class A9, Class A10,
Class A11 and Class A12 Certificates, until the Class Certificate Principal
Balance of each such Class has been reduced to zero, in the order of priority
and in the amounts specified in clauses (1)(b)(II)(A)(i) (including all
subclauses thereof) and (1)(b)(II)(A)(ii) in that order, as if the references in
such clauses to the amount distributable under clause (1)(b)(II)(A) were
references to the amount distributable under this clause (1)(b)(III);
(IV) to the Class A4 and Class A6 Certificates, until the Class Certificate
Principal Balance of the Class A4 and Class A6 Certificates have each been
reduced to zero, concurrently, as follows:
(A) approximately 88.7552773133% of the amount distributable under clause
(1) (b) (IV) to the Class A4 Certificates; and
(B) approximately 11.2447226867% of the amount distributable under clause
(1) (b) (IV) to the Class A6 Certificates; and
(V) to the Class A5 Certificates, until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(2) to the Class PO Certificates, the Class PO Principal Distribution
Amount for such Distribution Date, until the Class Certificate Principal Balance
thereof has been reduced to zero;
