EXHIBIT 10.5 


 


ASSIGNMENT, ASSUMPTION AND RECOGNITION
AGREEMENT


 


This is an Assignment,
Assumption and Recognition Agreement (the “Agreement”) made as of the 15th day of January, 2013, among Redwood
Residential Acquisition Corporation, a Delaware corporation (“Assignor”), Sequoia Residential Funding, Inc., a Delaware
corporation (“Depositor”), Christiana Trust, a division of Wilmington Savings Fund Society, FSB, a federal savings
bank, not in its individual capacity but solely as trustee (in such capacity, the “Trustee” or the “Assignee”)
under a Pooling and Servicing Agreement dated as of January 1, 2013 (the “Pooling and Servicing Agreement”), and First
Republic Bank, a California-chartered bank (the “Bank”).


 


In consideration of
the mutual promises contained herein, the parties hereto agree that the mortgage loans (the Mortgage Loans”) listed on Attachment
1 annexed hereto (the “Mortgage Loan Schedule”) now serviced by the Bank (together with its successors and assigns,
the “Servicer”) for Assignor and its successors and assigns pursuant to the Flow Mortgage Loan Sale and Servicing Agreement
dated as of July 1, 2010, between Assignor and the Bank (the “Sale and Servicing Agreement”) and the servicing thereof
shall be subject to the terms of the Sale and Servicing Agreement as modified or supplemented by this Agreement. Unless otherwise
specified herein, capitalized terms used herein but not defined shall have the meanings ascribed to them in the Sale and Servicing
Agreement. Assignor will sell the Mortgage Loans to Depositor pursuant to a Mortgage Loan Purchase and Sale Agreement dated the
date hereof, and Depositor will sell the Mortgage Loans to Assignee pursuant to the Pooling and Servicing Agreement.


 


Assignment and Assumption


 


1.          Assignor
hereby grants, transfers and assigns to Depositor all of its right, title and interest in, to and under the Sale and Servicing
Agreement to the extent relating to the Mortgage Loans, together with its obligations as “Purchaser” to the extent
relating to the Mortgage Loans, and Depositor hereby accepts such assignment from Assignor and assumes such obligations.


 


2.          Depositor
hereby grants, transfers and assigns to Assignee all of its right, title and interest in, to and under the Sale and Servicing Agreement
to the extent relating to the Mortgage Loans, together with its obligations as “Purchaser” to the extent relating to
the Mortgage Loans, Depositor is released from all obligations under the Sale and Servicing Agreement, and Assignee hereby accepts
such assignment from Depositor and assumes such obligations.


 


3.          Assignee
agrees to be bound, as “Purchaser,” by all of the terms, covenants and conditions of the Sale and Servicing Agreement
relating to the Mortgage Loans, and from and after the date hereof, Assignee assumes for the benefit of each of Assignor, Depositor
and the Bank all of Assignor's obligations as Purchaser thereunder in respect of the Mortgage Loans, and Assignor is released from
such obligations.


 



    	 



    	 



    

 


4.          The
Bank hereby acknowledges the foregoing assignments and assumptions and agrees that Assignee shall be the “Purchaser”
under the Sale and Servicing Agreement with respect to the Mortgage Loans.


 


Representations and Warranties


 


5.          Assignor
warrants and represents to, and covenants with, Depositor, Assignee and the Bank as of the date hereof that:


 


(a)          Attached
hereto as Attachment 2 is a true and accurate copy of the Sale and Servicing Agreement, which agreement is in full force and effect
as of the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice
of termination been given thereunder;


 


(b)          Assignor
is the lawful owner of its interests, rights and obligations under the Sale and Servicing Agreement to the extent of the Mortgage
Loans, free and clear from any and all claims and encumbrances whatsoever, and upon the transfer of such interests, rights and
obligations to Assignee as contemplated herein, Assignee shall have good title to all of Assignee's interests, rights and obligations
under the Sale and Servicing Agreement to the extent of the Mortgage Loans, free and clear of all liens, claims and encumbrances;


 


(c)          There
are no offsets, counterclaims or other defenses available to the Bank with respect to the Sale and Servicing Agreement;


 


(d)          Assignor
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite
power and authority to enter into and perform its obligations under the Sale and Servicing Agreement;


 


(e)          Assignor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Assignor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of
Assignor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Assignor is now
a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which Assignor
or its property is subject. The execution, delivery and performance by Assignor of this Agreement and the consummation by it of
the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of Assignor. This
Agreement has been duly executed and delivered by Assignor and, upon the due authorization, execution and delivery by the other
parties hereto, will constitute the valid and legally binding obligation of Assignor enforceable against Assignor in accordance
with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws
now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether
enforceability is considered in a proceeding in equity or at law; and


 



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(f)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Assignor in connection with the execution, delivery or performance by Assignor of this Agreement, or
the consummation by it of the transactions contemplated hereby.


 


6.          Depositor
warrants and represents to, and covenants with, Assignor, Assignee and the Bank that as of the date hereof:


 


(a)          Depositor
is a Delaware corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation;


 


(b)          Depositor
has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of Depositor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions
of Depositor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which Depositor is
now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
Depositor or its property is subject. The execution, delivery and performance by Depositor of this Agreement and the consummation
by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of Depositor.
This Agreement has been duly executed and delivered by Depositor and, upon the due authorization, execution and delivery by the
other parties hereto, will constitute the valid and legally binding obligation of Depositor enforceable against Depositor in accordance
with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws
now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether
enforceability is considered in a proceeding in equity or at law; and


 


(c)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by Depositor in connection with the execution, delivery or performance by Depositor of this Agreement, or
the consummation by it of the transactions contemplated hereby other than any that have been obtained or made.


 


7.          Assignee
warrants and represents to, and covenants with, Assignor, Depositor and the Bank that as of the date hereof:


 


(a)          Assignee
is a federal savings bank duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization;
and


 



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(b)          Assignee
has been directed to enter into this Agreement pursuant to the provisions of the Pooling and Servicing Agreement. The execution,
delivery and performance by Assignee of this Agreement and the consummation by it of the transactions contemplated hereby, have
been duly authorized by all necessary action on part of Assignee. This Agreement has been duly executed and delivered by Assignee
and, upon the due authorization, execution and delivery by the other parties hereto, will constitute the valid and legally binding
obligation of Assignee enforceable against Assignee in accordance with its terms except as enforceability may be limited by bankruptcy,
reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally,
and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law.


 


8.          The
Bank warrants and represents to, and covenants with, Assignor, Depositor and Assignee as of the date hereof that:


 


(a)          Attached
hereto as Attachment 2 is a true and accurate copy of the Sale and Servicing Agreement, which agreement is in full force and effect
as of the date hereof and the provisions of which have not been waived, amended or modified in any respect, nor has any notice
of termination been given thereunder;


 


(b)          The
Bank is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has
all requisite power and authority to service the Mortgage Loans pursuant to and otherwise to perform its obligations under the
Sale and Servicing Agreement;


 


(c)          The
Bank has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate
the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course
of the Bank’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of
the Bank’s charter or by-laws or any legal restriction, or any material agreement or instrument to which the Bank is now
a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which the
Bank or its property is subject. The execution, delivery and performance by the Bank of this Agreement and the consummation by
it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on part of the Bank. This
Agreement has been duly executed and delivered by the Bank and, upon the due authorization, execution and delivery by Assignor,
Assignee and the Depositor, will constitute the valid and legally binding obligation of the Bank enforceable against the Bank in
accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other
similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless
of whether enforceability is considered in a proceeding in equity or at law; and


 



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(d)          No
consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required
to be obtained or made by the Bank in connection with the execution, delivery or performance by the Bank of this Agreement, or
the consummation by it of the transactions contemplated hereby.


 


Restated Bank Representations and Warranties


 


9.          The
Bank hereby restates to Depositor and Assignee (a) the representations and warranties set forth in Subsection 7.01 of the Sale
and Servicing Agreement with respect to each Mortgage Loan as of the related Closing Date (as such term is defined in the Sale
and Servicing Agreement) and (b) the representations and warranties set forth in Subsection 7.02 of the Sale and Servicing
Agreement as of the date hereof, with respect to each Mortgage Loan, in each case as if such representations and warranties were
set forth herein in full.


 


In the event of a breach
of any representations and warranties referred to in clauses (a) or (b) above as of the date specified, Assignee shall be entitled
to all the remedies under the Sale and Servicing Agreement, subject to the rights of the Controlling Holder pursuant to Section
13.


 


Repurchase by Assignor Upon Certain Breaches
of Representations and Warranties


 


10.         (a)          Assignor
hereby covenants and agrees that, if a breach of any representation and warranty set forth in Subsection 7.01 of the Sale and Servicing
Agreement exists on the date hereof that materially and adversely affects the value of any Mortgage Loan or the interest of Assignee
in any Mortgage Loan and such breach did not exist as of the Closing Date of that Mortgage Loan, Assignor shall have a period of
60 days from the earlier of either discovery by or receipt of written notice from Assignee to Assignor of such breach within which
to correct or cure such breach. Each determination as to whether there has been such a breach shall be conducted on a Mortgage
Loan-by-Mortgage Loan basis. A breach of representations and warranties in Subsections 7.01(h), (bb), and (vv) of the Sale and
Servicing Agreement shall be deemed to materially and adversely affect the value of the related Mortgage Loan or the interest of
the Assignee therein. Assignor hereby covenants and agrees that if any breach cannot be corrected or cured within such 60 day period,
then Assignor shall, at its option, (i) substitute a mortgage loan for the defective Mortgage Loan in accordance with the Sale
and Servicing Agreement, (ii) repurchase the related Mortgage Loan at the Repurchase Price or (iii) except for a breach of a representation
and warranty in Subsection 7.01(bb) of the Sale and Servicing Agreement, make an indemnification payment in an amount equal to
the reduction in value of such Mortgage Loan as a result of such breach not later than 90 days after its discovery or receipt of
notice of such breach and in the case of clauses (ii) and (iii) above, by wire transfer of immediately available funds to such
account as Assignee shall specify to Assignor.


 



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(b)          Assignor
and Assignee agree that the resolution of any controversy or claim arising out of or relating to an obligation or alleged obligation
of Assignor to repurchase a Mortgage Loan or Mortgage Loans pursuant to Section 10(a) above shall be by Arbitration administered
by the American Arbitration Association. If any such controversy or claim has not been resolved to the satisfaction of both Assignor
and Assignee, either party may commence Arbitration to resolve the dispute; provided that a party may commence Arbitration with
respect to one or more unresolved allegations only during the months of January, April, July and October, and all matters with
respect to which Arbitration has been commenced in any such month shall be heard in a single Arbitration in the immediately following
month or as soon as practicable thereafter; and provided further that if any Arbitration arising out of or relating to an obligation
or alleged obligation of the Bank to repurchase a Mortgage Loan relating to the same representation and warranty, has commenced
and is continuing, then such Arbitration shall be joined with the Arbitration commenced hereunder.


 


(c)          To
commence Arbitration, the moving party shall deliver written notice to the other party that it has elected to pursue Arbitration
in accordance with this Section 10, provided that if Assignor has not responded to Assignee's notification of a breach of a representation
and warranty, Assignee shall not commence Arbitration with respect to that breach before 60 days following such notification in
order to provide Assignor with an opportunity to respond to such notification. Within ten Business Days after a party has provided
notice that it has elected to pursue Arbitration, each party may submit the names of one or more proposed Arbitrators to the other
party in writing. If the parties have not agreed on the selection of an Arbitrator within five Business Days after the first such
submission, then the party commencing Arbitration shall, within the next five Business Days, notify the American Arbitration Association
in San Francisco, California and request that it appoint a single Arbitrator with experience in arbitrating disputes arising in
the financial services industry.


 


(d)          It
is the intention of the parties that Arbitration shall be conducted in as efficient and cost-effective a manner as is reasonably
practicable, without the burden of discovery. Accordingly, the Arbitrator will resolve the dispute on the basis of a review of
the written correspondence between the parties (including any supporting materials attached to such correspondence) conveyed by
the parties to each other in connection with the dispute prior to the delivery of notice to commence Arbitration; however, upon
a showing of good cause, a party may request the Arbitrator to direct the production of such additional information, evidence
and/or documentation from the parties that the Arbitrator deems appropriate. If requested by the Arbitrator or any party, any
hearing with respect to an Arbitration shall be conducted by video conference or teleconference except upon the agreement of both
parties or the request of the Arbitrator.


 


(e)          The finding of the
Arbitrator shall be final and binding upon the parties. Judgment upon any arbitration award rendered may be entered and enforced
in any court of competent jurisdiction. The costs of the Arbitrator shall be shared equally between both parties. Each party,
however, shall bear its own attorneys fees and costs in connection with the Arbitration.         


 



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Recognition of Assignee


 


11.         (a)          From
and after the date hereof, subject to Sections 13 and 14 below, the Bank shall recognize Assignee as owner of the Mortgage Loans
and will service the Mortgage Loans and perform its obligations hereunder for the benefit of the Assignee in accordance with the
Sale and Servicing Agreement, as modified hereby or as may be amended from time to time, as if Assignee and the Bank had entered
into a separate servicing agreement for the purchase and servicing of the Mortgage Loans, the terms of which are incorporated herein
by reference, as amended by this Agreement.


 


(b)          It
is the intention of Assignor, Depositor, the Bank and Assignee that this Agreement, which includes the Sale and Servicing Agreement,
shall constitute a separate and distinct servicing agreement, and the entire servicing agreement, between the Bank and Assignee
to the extent of the Mortgage Loans and shall be binding upon and for the benefit of the respective successors and assigns of the
parties hereto.


 


12.         The
Mortgage Loans shall be serviced by the Bank for Assignee in accordance with all applicable state, federal and local laws as well
as in conformity with the provisions of the applicable Mortgages and Mortgage Notes, and pursuant to the terms and conditions of
this Agreement.


 


Continuing Rights and Responsibilities



 


13.         (a)          Controlling
Holder Rights. The Bank agrees and acknowledges that Sequoia Mortgage Funding Corporation, an Affiliate of the Depositor, in
its capacity as the initial Controlling Holder pursuant to the Pooling and Servicing Agreement, and for so long as it is the Controlling
Holder, will assume all of Assignee's rights and all related responsibilities as Purchaser under each of the following sections
of the Sale and Servicing Agreement:


 


Sale and
Servicing Agreement:


 


	Section or Subsection	Matter
	 	 
	7.03, other than 7.03(c)	Repurchase and Substitution
	 	 
	11.20	Seller and Servicer Shall Provide Access and Information as Reasonably Required


 


(b)          Notwithstanding
Sections 1 and 2 above, Assignor reserves its rights under, and does not assign to Assignee or Depositor, the ongoing rights to
take action and the responsibilities of the Purchaser under the sections of the Sale and Servicing Agreement listed below:


 



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Sale and
Servicing Agreement:


 


	Subsection	Matter
	7.05	
        Purchase Price Protection

         

	Addendum I	Regulation AB Compliance Addendum


  


(c)          In
addition, the Bank agrees to furnish to Assignor and to Wells Fargo Bank, N.A., as master servicer or securities administrator
under the Pooling and Servicing Agreement (the “Master Servicer”), copies of reports, notices, statements and other
communications required to be delivered to the Purchaser by the Bank pursuant to any of the sections of the Sale and Servicing
Agreement referred to above and under the following sections, at the times therein specified:


 


Sale and
Servicing Agreement:


 


	Subsection	 
	 	 
	11.09	Transfer of Accounts
	 	 
	11.16	Statements to the Purchaser
	 	 
	Subsection 2.04 of Addendum I	Servicer Compliance Statement
	 	 
	Subsection 2.05 of Addendum I	Report on Assessment of Compliance and Attestation


 


(d)          If
there is no Controlling Holder under the Pooling and Servicing Agreement, then all rights and responsibilities assumed by the Controlling
Holder pursuant to Section 13(a) shall terminate and revert to Assignee. Assignor will provide thirty (30) days notice to the Bank
of any such termination of which Assignor has knowledge. Upon the first exercise of an enforcement of any rights pursuant to Section
13(a), Assignee shall notify (or cause the Master Servicer to notify) the Bank that there is no longer a Controlling Holder.


 



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Amendments to Sale and Servicing Agreement


 


14.         The
parties agree that the Sale and Servicing Agreement shall be amended, solely with respect to the Mortgage Loans, as follows:


 


(a)          Definitions.


 


(i)          The
definitions of “Arbitration,” “Business Day,” “Eligible Account,” “Eligible Investment,”
“Opinion of Counsel,” “Rating Agencies,” “Repurchase Price” and “Servicing Fee Rate”
set forth in Section 1 of the Sale and Servicing Agreement shall be deleted and replaced in their entirety as follows, and the
following definitions of “Affiliate,” “Clean-up Call,” “Controlling Holder,” “Principal
Forbearance Amount,” “Securities Administrator” and “Servicing Modification” shall be added to Section
1 of the Sale and Servicing Agreement:


 


Affiliate:
With respect to any specified Person, another Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.


 


Arbitration: Arbitration in accordance with the then governing Commercial Arbitration Rules of the American Arbitration
Association and administered by the American Arbitration Association, which shall be conducted in San Francisco, California or
other place mutually acceptable to the parties to the arbitration.


 


Business
Day: Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in the states of California, Delaware, Maryland, Minnesota,
Missouri or New York, (iii) a day on which banks in the states of California, Delaware, Maryland, Minnesota, Missouri or New York,
are authorized or obligated by law or executive order to be closed or (iv) a day on which the New York Stock Exchange or the Federal
Reserve Bank of New York is closed.


 


Clean-up
Call: The optional purchase of the mortgage loans subject to the Pooling and Servicing Agreement and all property acquired
in respect of any such mortgage loan remaining in the trust fund created pursuant to the Pooling and Servicing Agreement on any
date on which the aggregate stated principal balance is less than 10% of the aggregate stated principal balance as of January 1,
2013, in accordance with the Pooling and Servicing Agreement.


 



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Controlling
Holder: At any time, the holder of the majority of the class principal amount of the most subordinate class of certificates
issued pursuant to the Pooling and Servicing Agreement or, if the class principal amount of the most subordinate class of certificates
issued pursuant to the Pooling and Servicing Agreement is zero, the holder of the majority of the class principal amount of the
second most subordinate class of certificates issued pursuant to the Pooling and Servicing Agreement. If the class principal amount
of the second most subordinate class of certificates issued pursuant to the Pooling and Servicing Agreement is zero, then no entity
will have any rights as a Controlling Holder.


 


Eligible
Account: Any account or accounts maintained with a federal or state chartered depository institution or trust company the debt
obligations of which (or, in the case of a depository institution or trust company that is the principal subsidiary of a holding
company, the debt obligations of such holding company) satisfy each of the following criteria: (1) the short-term unsecured debt
obligations of such entity are rated in the highest rating category of Fitch, Inc. (“Fitch”) and Moody’s Investors
Service, Inc. (“Moody’s”) and the long-term unsecured debt obligations of such entity are rated in one of the
two highest rating categories of Fitch and Moody’s and (2) if the unsecured debt obligations of such entity are rated by
Kroll Bond Rating Agency, Inc. (“KBRA”), then the short-term unsecured debt obligations of such entity are rated in
the highest rating category of KBRA and the long-term unsecured debt obligations of such entity are rated in one of the three highest
rating categories of KBRA. If the ratings no longer satisfy each of these criteria, the funds on deposit therewith in connection
with this transaction shall be transferred to an Eligible Account within 30 days of such downgrade. Eligible Accounts may bear
interest.


 


Eligible
Investments: At any time, any one or more of the following obligations and securities:


 


(i)          direct
obligations of, and obligations fully guaranteed by the United States of America or any agency or instrumentality of the United
States of America the obligations of which are backed by the full faith and credit of the United States of America;


 


(ii)         (a)
demand or time deposits, federal funds or bankers’ acceptances issued by any depository institution or trust company incorporated
under the laws of the United States of America or any state thereof and subject to supervision and examination by federal and/or
state banking authorities, provided that the commercial paper and/or the short-term deposit rating and/or the long-term unsecured
debt obligations or deposits of such depository institution or trust company at the time of such investment or contractual commitment
providing for such investment are rated in the highest rating category by the Rating Agencies for long-term unsecured debt with
a maturity of more than one year or in the highest rating category with respect to short-term obligations and (b) any other demand
or time deposit or certificate of deposit that is fully insured by the FDIC;


 



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(iii)        repurchase
obligations with a term not to exceed thirty (30) days and with respect to any security described in clause (i) above and entered
into with a depository institution or trust company (acting as principal) described in clause (ii)(a) above;


 


(iv)        securities
bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States of America or
any state thereof that are rated in the highest rating category by the Rating Agencies for long-term unsecured debt with a maturity
of more than one year or in the highest rating category with respect to short-term obligations, in each case at the time of such
investment or contractual commitment providing for such investment; provided, however, that securities issued by any particular
corporation will not be Eligible Investments to the extent that investments therein will cause the then outstanding principal amount
of securities issued by such corporation and held as Eligible Investments to exceed 10% of the aggregate outstanding principal
balances of all of the Mortgage Loans and Eligible Investments;


 


(v)         commercial
paper (including both non-interest-bearing discount obligations and interest-bearing obligations payable on demand or on a specified
date not more than one year after the date of issuance thereof) that is rated in the highest rating category by the Rating Agencies
at the time of such investment; and


 


(vi)        any
money market funds rated in one of the two highest rating categories by the Rating Agencies for long-term unsecured debt with a
maturity of more than one year or in the highest rating category with respect to short-term obligations;


 


provided, however, that no instrument
or security shall be an Eligible Investment if such instrument or security evidences a right to receive only interest payments
with respect to the obligations underlying such instrument or if such security provides for payment of both principal and interest
with a yield to maturity in excess of 120% of the yield to maturity at par or if such instrument or security is purchased at a
price greater than par.


 


Opinion
of Counsel: A written opinion of counsel, who may be salaried counsel for the Person on behalf of whom the opinion is being
given, reasonably acceptable to each Person to whom such opinion is addressed, and which must be Independent outside counsel with
respect to any such opinion of counsel concerning the taxation or the federal income tax status of each REMIC.


 



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Principal
Forbearance Amount: With respect to a Mortgage Loan that was the subject of a Servicing Modification, the amount, if any, of
principal of the Mortgage Loan that has been deferred and that does not accrue interest.


 


Rating Agencies:
Fitch, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”) and Kroll Bond Rating Agency,
Inc. (“KBRA”); provided, however, that references to “Rating Agencies” as used in the definition of “Eligible
Investments” shall not include KBRA unless KBRA rates the applicable entity or investment.


 


Repurchase
Price: With respect to any Mortgage Loan, a price equal to (i) the unpaid principal balance of the Mortgage Loan, plus (ii) interest
on such unpaid principal balance at the related Mortgage Loan Remittance Rate from the last date through which interest was last
paid by or on behalf of the Mortgagor to the last day of the month in which such repurchase occurs, plus (iii) reasonable and customary
third party expenses incurred in connection with the transfer of the Mortgage Loan being repurchased, minus (iv) any amounts received
in respect of such repurchased Mortgage Loan and being held in the Custodial Account for future distribution in connection with
such Mortgage Loan; which Repurchase Price proceeds shall be deposited in the Custodial Account for withdrawal by the Servicer
in accordance with Subsection 11.05; provided, however, that if at the time of repurchase the Servicer is not the Seller or an
Affiliate of the Seller, the amount described in clause (ii) shall be computed as the sum of (a) the Mortgage Loan Remittance Rate
and (b) the Servicing Fee Rate.


 


Securities
Administrator: Wells Fargo Bank, N.A., not in its individual capacity but solely as Securities Administrator under the Pooling
and Servicing Agreement, or any successor in interest, or if any successor Securities Administrator shall be appointed as provided
in the Pooling and Servicing Agreement, then such successor Securities Administrator.


 


Servicing
Fee Rate: With respect to each Mortgage Loan, the per annum rate set forth on the related Mortgage Loan Schedule or if not
specified thereon, in the related PPTL, which rate shall be increased by the amount of any increase in the Mortgage Interest Rate
for any such Mortgage Loan pursuant to the terms of the related Mortgage Note due to the termination of an automatic debit or direct
deposit account.


 



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Servicing
Modification: Any reduction of the Mortgage Interest Rate on or the outstanding principal balance of a Mortgage Loan, any extension
of the final maturity date of a Mortgage Loan, any increase to the outstanding principal balance of a Mortgage Loan by adding to
the Stated Principal Balance unpaid principal and interest and other amounts owing under the Mortgage Loan, any Principal Forbearance
Amount and any other modification, in each case pursuant to a modification of a Mortgage Loan that is in default or for which,
in the judgment of the Servicer, default is reasonably foreseeable in accordance with the Sale and Servicing Agreement.


 


(b)          Servicing
Standard. In servicing the Mortgage Loans in accordance with this Agreement and Customary Servicing Procedures, the Servicer
shall service the Mortgage Loans with a view to the best interests of all holders of the Sequoia Mortgage Trust 2013-1 Mortgage
Pass-Through Certificates as a single class.


 


(c)          Segregated
Custodial Account. The Servicer shall establish a Custodial Account pursuant to Subsection 11.04 of the Sale and Servicing
Agreement which shall be titled “First Republic Bank, in trust for Christiana Trust, a division of Wilmington Savings Fund
Society, FSB, as trustee of the Sequoia Mortgage Trust 2013-1” (the “2013-1 Custodial Account”), which shall
be the Custodial Account under this Agreement for all purposes. If the 2013-1 Custodial Account is no longer an Eligible Account,
the Servicer shall transfer the 2013-1 Custodial Account to an account that is an Eligible Account. The 2013-1 Custodial Account
shall qualify as an Eligible Account. 


 


(d)          Determination
of Breach of Representations and Warranties. The following sentence shall be added as the new third sentence of Subsection
7.03(a):


 


Each determination as
to whether there has been such a breach shall be conducted on a Mortgage Loan-by-Mortgage Loan basis.


 


(e)          Helping
Families Act Notice. The following sentence shall be added at the end of Subsection 6.04:


 


In connection with any
Mortgage Loan (i) repurchased by First Republic Bank from the trust created by the Pooling and Servicing Agreement (the “Trust”)
or (ii) purchased in the exercise of a Clean-up Call, First Republic Bank shall furnish to the related borrower, within thirty
(30) days following the date of such repurchase, the notice required by, and in accordance with, Section 404 of the Helping Families
Act.


 


(f)          Transfer
of Eligible Investments. The following sentences shall be added at the end of the last paragraph of Subsection 11.04:


 



    	13



    	 



    

 


			Notwithstanding anything to the contrary in this Agreement, for all Eligible Investments rated
at least "F1/A+"(short/long) that have terms greater than 60 days, in the event of a downgrade of such Eligible Investment
below "F1" (or "A+" if no short term rating) Servicer agrees to remove such Eligible Investment within 60 days
of such downgrade. Servicer acknowledges and agrees that Servicer shall bear any losses incurred with respect to removal of such
Eligible Investment following such a downgrade and that any losses shall be immediately deposited by the Servicer in the 2013-1
Custodial Account, as appropriate, out of the Servicer’s own funds, with no right to reimbursement therefor.



 


(g)          Transfer
of Accounts. The second sentence of Subsection 11.09 shall be deleted and replaced in its entirety as follows:


 


Pursuant to Subsections 11.04 and 11.06, such transfer
shall be made only with the Purchaser’s approval, which shall not unreasonably be withheld.


 


(h)          Form
of Monthly Report. The Servicer shall provide monthly accounting reports to the Purchaser and Master Servicer, pursuant to
Subsection 11.16 of the Sale and Servicing Agreement, with the information required by the monthly reporting format of the Master
Servicer as previously provided to the Servicer by Assignor. Such reports shall be provided not later than the fifth (5th)
Business Day of each calendar month.


 


(i)          Shorter
Cure Period for Failure to Provide Distribution Data. An additional “Event of Default” shall be listed in Subsection
13.01, to be inserted after clause (h), to read in its entirety as follows:


 


or (i) Servicer
shall fail to provide to Purchaser the data required to be provided pursuant to the first paragraph of Subsection 11.16 and such
failure shall continue for three Business Days after notice of such failure has been given to Servicer by Purchaser;


 


(j)          Clean-up
Call. A new Section 33 shall be added to the Sale and Servicing Agreement, to read in its entirety as follows:


 


SECTION 33. Clean-up Call.
In the event a Clean-up Call is exercised, the purchaser of the remaining Mortgage Loans (a) shall have all right, title and interest
in, to and under the Sale and Servicing Agreement to the extent relating to such Mortgage Loans and (b) shall be bound as “Purchaser”
under the Sale and Servicing Agreement from and after the date it exercises the Clean-up Call. The remaining Mortgage Loans shall
be serviced by the Bank for such purchaser in accordance with the terms and conditions of the Sale and Servicing Agreement.         


 


(k)          REMIC
Provisions.


 


(i)          The
following definition of “REMIC Provisions” is hereby added to Section 1 of the Sale and Servicing Agreement:


 



    	14



    	 



    

 


REMIC Provisions:   Sections
860A through 860G of the Internal Revenue Code; such other provisions of the Code as relate to an entity created thereunder; the
regulations promulgated pursuant such sections and provisions of the Code; and published guidance issued by the Internal Revenue
Service relating to such Code sections and regulations.


 


(ii)         The following
paragraph shall be added to the end of Subsection 11.13, to read in its entirety as follows:


 


If a Mortgage
Loan is held by a REMIC, the Servicer shall not acquire any real property (or personal property incident to such real property)
in respect of such Mortgage Loan except in connection with a default or imminent default of such Mortgage Loan. In the event that
a REMIC acquires any real property (or personal property incident to such real property) in connection with a default or imminent
default of a Mortgage Loan, such property shall be disposed of by the Servicer as soon as practicable in a manner that, consistent
with prudent mortgage loan servicing practices, maximizes the net present value of the recovery to the Trust, but in any event
within three years after its acquisition by such REMIC unless the Servicer provides to the Purchaser and the Securities Administrator
an Opinion of Counsel to the effect that the holding by such REMIC of such Mortgaged Property subsequent to three years after its
acquisition will not result in the imposition of taxes on “prohibited transactions” on such REMIC as defined in Section
860F of the Code or under the law of any state in which real property securing a Mortgage Loan owned by such REMIC is located or
cause such REMIC to fail to qualify as a REMIC for federal income tax purposes or for state tax purposes under the laws of any
state in which real property securing a Mortgage Loan owned by such REMIC is located at any time that any mortgage pass-through
certificates representing interests in such REMIC are outstanding. The Servicer shall conserve, protect and operate each such property
for such REMIC solely for the purpose of its prompt disposition and sale in a manner which does not cause such property to fail
to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) or result in the receipt by such REMIC
of any “income from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the Code or any “net
income from foreclosure property” which is subject to taxation under the REMIC Provisions. Pursuant to its efforts to sell
such property, the Servicer shall either itself or through an agent selected by the Servicer protect and conserve such property
in the same manner and to such extent as is customary in the locality where such property is located and may, incident to its conservation
and protection of the assets of the Trust, rent the same, or any part thereof, as the Servicer deems to be in the best interest
of the Trust for the period prior to the sale of such property. Additionally, the Servicer shall perform the tax withholding and
shall file information returns with respect to the receipt of mortgage interests received in a trade or business, the reports of
foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income
with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the
Purchaser and the Securities Administrator an Officers’ Certificate on or before March 31 of each year stating that such
reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections
6050H, 6050J and 6050P of the Code.


 



    	15



    	 



    

 


(iii)        The
following additional provisions shall be added after Subsection 11.23, to read in its entirety as follows:


 


Subsection
11.24 Compliance with REMIC Provisions. If a REMIC election has been made with respect to the arrangement under which the Mortgage
Loans and REO Property are held, the Servicer shall not take any action, cause the REMIC to take any action or fail to take (or
fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger
the status of the REMIC as a REMIC or (ii) result in the imposition of a tax upon the REMIC (including but not limited to the tax
on “prohibited transactions” as defined in Section 860F(a)(2) of the Code and the tax on “contribution”
to a REMIC set forth in Section 860G(d) of the Code unless the Servicer has received an Opinion of Counsel (at the expense of the
party seeking to take such actions) to the effect that the contemplated action will not endanger such REMIC status or result in
the imposition of any such tax.


 


(l)          Avoidance
of Consolidation.


 


(i)          The
following Subsection 7.06 shall be added at the end of Section 7, to read in its entirety as follows:


 


Subsection 7.06 Avoidance
of Consolidation.


 


			(a)          The Servicer covenants and agrees
that it shall not hold or purchase any certificate (a “Certificate”) issued by the Trust, if its holding or purchase
of such Certificate (or interest therein) would cause the Servicer to be required to consolidate any assets of the Trust on its
financial statements under U.S. generally accepted accounting principles (“Consolidate” or “Consolidation”).
The Servicer shall be deemed to have represented by virtue of its purchase or holding of such Certificate (or interest therein)
that its holding or purchase of such Certificate (or interest therein) will not cause the Servicer to be required to Consolidate
any assets of the Trust on its financial statements.



 



    	16



    	 



    

 


			If the Servicer's holding or purchase of a Certificate (or interest therein) does in fact cause
such Consolidation, then the last preceding transferee that is not required to Consolidate shall be restored, to the extent permitted
by law, to all rights and obligations as owner of such Certificate retroactive to the date of such transfer of such Certificate.
If the Servicer holds or purchases a Certificate (or interest therein) in violation of the restrictions in this Subsection 7.06
and to the extent that the retroactive restoration of the rights of the owner of such Certificate as described in the immediately
preceding sentence shall be invalid, illegal or unenforceable, then the Securities Administrator shall have the right, without
notice to the owner or any prior owner of such Certificate, to sell such Certificate to a purchaser selected by the Securities
Administrator on such terms as the Securities Administrator may choose. The Servicer shall promptly endorse and deliver such Certificate
(or otherwise transfer a book-entry Certificate) in accordance with the instructions of the Securities Administrator. The proceeds
of such sale, net of the commissions (which may include commissions payable to the Securities Administrator or its Affiliates),
expenses and taxes due, if any, shall be remitted by the Securities Administrator to the Servicer. The terms and conditions of
any sale under this Subsection 7.06 shall be determined in the sole discretion of the Securities Administrator, and the Securities
Administrator shall not be liable to any owner of a Certificate as a result of its exercise of such discretion. The Servicer shall
indemnify and hold harmless the Depositor and the Trust from and against any and all losses, liabilities, claims, costs or expenses
incurred by such parties as a result of such holding or purchase resulting in a Consolidation.



 


(b)          The
Servicer covenants and agrees that it shall not transfer its servicing rights and duties under this Agreement and the Sale and
Servicing Agreement to an insured depository institution, as such
term is defined in the Federal Deposit Insurance Act (an “IDI”) (an IDI in such capacity, an “IDI Servicer Transferee”)
unless the Purchaser and the Servicer shall have received a representation from the IDI Servicer Transferee that the acquisition
of such servicing rights and duties will not cause the IDI Servicer Transferee to be required to Consolidate any assets of the
Trust on its financial statements. Any IDI Servicer Transferee shall be deemed to have represented by virtue of its acquisition
of such servicing rights and duties that such acquisition will not cause Consolidation. Any IDI Servicer Transferee who acquires
such servicing rights and duties without providing the representation described above or whose acquisition of such servicing rights
and duties has required it to Consolidate any assets of the Trust on its financial statements shall indemnify and hold harmless
the Servicer, the Depositor and the Trust from and against any and all losses, liabilities, claims, costs or expenses incurred
by such parties as a result of such acquisition.


 


			(ii) An additional “Event of Default” shall be listed in Subsection 13.01, to be inserted
after clause (i) added in Section 14(i) of this Agreement above, to read in its entirety as follows:



 


			or (j)(A) the purchase or holding by the Servicer of any Certificate such that the Servicer is
required to Consolidate any assets of the Trust on its financial statements, provided that such purchase or holding of a Certificate
shall not constitute an Event of Default if, within 45 days of (1) the date of such purchase or acquisition or (2) if such requirement
to Consolidate is not effective on the date of such purchase or acquisition, the date the Servicer becomes aware of such requirement
to Consolidate, the Servicer causes such requirement to Consolidate not to apply; or (B) the failure of the Servicer to obtain
from an IDI Servicer Transferee the representation described in Section 7.06(b) prior to the transfer to such IDI Servicer Transferee
of any servicing rights or duties.



 



    	17



    	 



    

 


(m)          Foreclosure
Proceedings. The first sentence of Subsection 11.13 is hereby deleted and replaced in its entirety with the following:


 


Subject to Subsection
11.02, in the event that title to the Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed
or certificate of sale shall be taken in the name of the Trust, where permitted by applicable law or regulation, and where not
so permitted, in the name of the trustee of the Trust or its nominee.


 


(n)          Modification
Payment Plans and Foreclosure Approvals.


 


(i)          The
first sentence of the fifth paragraph of Subsection 11.01 is hereby deleted and replaced in its entirety with the following:


 


Consistent
with the terms of this Agreement, and subject to the REMIC Provisions if the Mortgage Loans have been transferred to a REMIC, the
Servicer may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with any such
term or in any manner grant indulgence to any Mortgagor; provided, however, that the Servicer shall not enter into any payment
plan or agreement to modify payments with a Mortgagor lasting more than twelve (12) months or permit any modification with
respect to any Mortgage Loan that would change the Mortgage Interest Rate, the Lifetime Rate Cap (if applicable), the Initial Rate
Cap (if applicable), the Periodic Rate Cap (if applicable) or the Gross Margin (if applicable), agree to the capitalization of
arrearages, including interest, fees or expenses owed under the Mortgage Loan, make any future advances or extend the final maturity
date with respect to such Mortgage Loan (provided that the Servicer shall in no event extend the final maturity date past February
25, 2043 or, if such 25th day is not a Business Day, the next succeeding Business Day), or accept substitute or additional collateral
or release any collateral for such Mortgage Loan, unless (1) the Mortgagor is in default with respect to the Mortgage Loan, or
such default is, in the judgment of the Servicer, imminent, (2) the modification is in accordance with the customary procedures
of the Servicer, which may change from time to time, or industry-accepted programs, and (3) the Purchaser has approved such action.


 


(ii)         The
third sentence of the last paragraph of Subsection 11.01 is hereby deleted and replaced in its entirety with the following:


 



    	18



    	 



    

 


In the event
(a) the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances
or wastes and (b) the Purchaser provides written approval for the Servicer to proceed with foreclosure or acceptance of a deed
in lieu of foreclosure, the Servicer shall be reimbursed for all reasonable costs associated with such foreclosure or acceptance
of a deed in lieu of foreclosure and any related environmental clean up costs, as applicable, from the related Liquidation Proceeds,
or if the Liquidation Proceeds are insufficient fully to reimburse the Servicer, the Servicer shall be entitled to be reimbursed
from amounts in the Custodial Account pursuant to Subsection 11.05 hereof.


 


(o)          Servicer
Reports. The Servicer shall provide monthly reports to the Purchaser pursuant to Subsection 11.16 of the Sale and Servicing
Agreement in the formats attached hereto as Exhibits 10 and 11, or in such other format as the Servicer, the Purchaser and the
Depositor shall agree in writing.


 


(p)          Assumption
Agreements. The first sentence of Subsection 11.18 is hereby deleted and replaced in its entirety with the following:


 


The Servicer
will use its best efforts to enforce any “due-on-sale” provision contained in any Mortgage or Mortgage Note; provided
that, subject to the Purchaser’s prior approval for the release of liability from the original borrower, the Servicer shall
permit such assumption if so required in accordance with the terms of the Mortgage or the Mortgage Note.


 


(q)          Indemnification
Expenses. The first sentence of Subsection 12.01(b) is hereby deleted and replaced in its entirety with the following:


 


The Servicer
shall immediately notify the Purchaser if a claim is made by a third party with respect to this Agreement or the Mortgage Loans,
and the Servicer shall assume the defense of any such claim and pay all expenses in connection therewith, including counsel fees.


 


(r)          Broker’s
Price Opinion. If, in accordance with the Pooling and Servicing Agreement, the Trustee has received notice that any governmental
entity intends to acquire a Mortgage Loan through the exercise of its power of eminent domain, and if there is no longer a Controlling
Holder, the Servicer, promptly upon the request and at the expense of the Trustee, shall obtain a valuation on the related Mortgaged
Property in the form of a broker’s price opinion, and provide the results of such valuation to the Trustee.


 


(s)          The
rights under the Sale and Servicing Agreement assigned to the Depositor and the Assignee pursuant to this Agreement shall be under
the Sale and Servicing Agreement as amended by this Agreement.


 



    	19



    	 



    

 


Miscellaneous


 


15.         All
demands, notices and communications related to the Mortgage Loans, the Sale and Servicing Agreement and this Agreement shall be
in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid,
as follows:


 


(a)          In
the case of the Bank,


 


First Republic Bank


111 Pine Street


San Francisco, CA 94111


Attention: Tony Sachs


 


with a copy to the General
Counsel at the same address


 


(b)          In
the case of Assignee,


 


Christiana Trust, a division
of Wilmington Savings Fund Society, FSB


500 Delaware Avenue,
11th Floor


Wilmington, Delaware,
19801


Attention: Corporate
Trust – Sequoia Mortgage Trust 2013-1


 


(c)          In
the case of Depositor,


 


Sequoia Residential Funding,
Inc.


One Belvedere Place,
Suite 360


Mill Valley, California
94941


Attention: William Moliski


 


with a copy to


 


General Counsel at the
same address


 


(d)          In
the case of Assignor,


 


Redwood Residential Acquisition
Corporation


One Belvedere Place,
Suite 360


Mill Valley, California
94941


Attention: William Moliski


 



    	20



    	 



    

 


with a copy to


 


General Counsel at the
same address


 


(e)          In
the case of Master Servicer,


 


Wells Fargo Bank,
N.A.


9062 Old Annapolis
Road


Columbia, Maryland
21045


Telephone number:
(410) 884-2000


Facsimile number:
(410) 715-2380


Attention: Client
Manager — Sequoia Mortgage Trust 2013-1


 


(f)          In
the case of the initial Controlling Holder,


 


Sequoia Mortgage Funding
Corporation


One Belvedere Place,
Suite 360


Mill Valley, California
94941


Attention: William Moliski


 


with a copy to


 


General Counsel at the
same address


 


16.         This
Agreement shall be construed in accordance with the laws of the State of New York, except to the extent preempted by Federal law,
and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws, without regard
to the conflicts of laws provisions of the State of New York or any other jurisdiction.


 


17.         No
term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the
party against whom such waiver or modification is sought to be enforced.


 


18.         This
Agreement shall inure to the benefit of the successors and assigns of the parties hereto. Any entity into which Assignor, Depositor,
Assignee or the Bank may be merged or consolidated shall, without the requirement for any further writing, be deemed Assignor,
Depositor, Assignee or the Bank, respectively, hereunder.


 


19.         This
Agreement shall survive the conveyance of the Mortgage Loans, the assignment of the Sale and Servicing Agreement to the extent
of the Mortgage Loans by Assignor to Depositor and by Depositor to Assignee, and the termination of the Sale and Servicing Agreement.


 


20.         This
Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and
all such counterparts shall constitute one and the same instrument.


 



    	21



    	 



    

 


21.         The
Controlling Holder under the Pooling and Servicing Agreement is an express third party beneficiary of this Agreement, and shall
have the same power and ability to exercise and enforce the rights stated to be provided to it hereunder as if it were a signatory
hereto. The Bank hereby consents to such exercise and enforcement.


 


22.         It
is expressly understood and agreed by the parties hereto that insofar as this Agreement is executed by the Trustee (i) this Agreement
is executed and delivered by Christiana Trust, a division of Wilmington Savings Fund Society, FSB (“Christiana Trust”)
not in its individual capacity but solely as Trustee on behalf of the trust created by the Pooling and Servicing Agreement referred
to herein (the “Trust”) in the exercise of the powers and authority conferred upon and vested in it, and as directed
in the Pooling and Servicing Agreement, (ii) each of the undertakings and agreements herein made on behalf of the Trust is made
and intended not as a personal undertaking or agreement of or by Christiana Trust but is made and intended for purposes of binding
only the Trust, (iii) nothing herein contained shall be construed as creating any liability on the part of Christiana Trust, individually
or personally, to perform any covenant either express or implied in this Agreement, all such liability, if any, being expressly
waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (iv) under no circumstances
shall Christiana Trust in its individual capacity or in its capacity as Trustee be personally liable for the payment of any indebtedness,
amounts or expenses owed by the Purchaser under the Sale and Servicing Agreement (such indebtedness, expenses and other amounts
being payable solely from and to the extent of funds of the Trust) or be personally liable for the breach or failure of any obligation,
representation, warranty or covenant made under this Agreement or any other related documents.


 


23.         Master
Servicer. The Bank hereby acknowledges that the Assignee has appointed Wells Fargo Bank, N.A. to act as master servicer and
securities administrator under the Pooling and Servicing Agreement and hereby agrees to treat all inquiries, demands, instructions,
authorizations and other communications from the Master Servicer as if the same had been received from the Assignee. The Master
Servicer, acting on behalf of the Assignee, shall have the rights of the Assignee as the Purchaser under this Agreement, including,
without limitation, the right to enforce the obligations of the Bank and the Servicer hereunder and under the Sale and Servicing
Agreement and the right to exercise the remedies of the Purchaser hereunder and under the Sale and Servicing Agreement, other than
the rights assumed by the Controlling Holder assumed under Section 13(a) above.


 


The Bank shall make
all remittances due by it to the Purchaser with respect to the Mortgage Loans to the following account by wire transfer of immediately
available funds:


 


Wells Fargo Bank, N.A.


San Francisco, California


ABA# 121-000-248


Account #3970771416


Account Name: SAS Clearing


FFC: Account #39107500, Sequoia
Mortgage Trust 2013-1 Distribution Account


 



    	22



    	 



    

 


24.         The
Bank acknowledges that the custodian will be Wells Fargo Bank, N.A. acting pursuant to the Custodial Agreement. Requests for Mortgage
Loan Documents required by the Bank to perform its duties under the Sale and Servicing Agreement shall be directed to Wells Fargo
Bank, N.A., as custodian, using the form of Request for Release in the form of Exhibit F hereto. The Bank shall provide the Custodian
with the specimen signatures of the Bank's authorized servicing representatives using the form in Exhibit D-3 hereto. Notwithstanding
Section 10 of the Sale and Servicing Agreement, the Bank shall pay shipping expenses for any Mortgage Loan Documents if there has
been a breach of any representation or warranty made with respect to the related Mortgage Loan in Subsection 7.01 of the Sale and
Servicing Agreement.


 


25.         Helping
Families Act Notice. Assignor hereby requests that the Bank furnish each Mortgagor with the notice described in Subsection
6.04 of the Sale and Servicing Agreement, in the form attached as Exhibit 8 thereto and using Christiana Trust, a division of Wilmington
Savings Fund Society, FSB, as trustee of the Sequoia Mortgage Trust 2013-1 as the investor name, in accordance with the terms of
Subsection 6.04 therein, and the Bank hereby covenants that it shall furnish each Mortgagor with such notice as provided therein.
Assignor and Assignee each agree that it will not send such notices to the Mortgagors.


 


26.         Rule
17g-5 Compliance. The Bank hereby agrees that it shall provide information with respect to the Mortgage Loans or the origination
or servicing thereof to any Rating Agency or nationally recognized statistical rating organization (“NRSRO”) via electronic
mail at rmbs17g5informationprovider@wellsfargo.com, with a subject reference of “SEMT 2013-1” and an identification
of the type of information being provided in the body of such electronic mail. The Securities Administrator, as the initial Rule
17g-5 Information Provider (the “Rule 17g-5 Information Provider”) shall notify the Bank in writing of any change in
the identity or contact information of the Rule 17g-5 Information Provider. The Bank shall have no liability for (i) the Rule 17g-5
Information Provider’s failure to post information provided by it in accordance with the terms of this Agreement or (ii)
any malfunction or disabling of the website maintained by the Rule 17g-5 Information Provider. None of the foregoing restrictions
in this Section 26 prohibit or restrict oral or written communications, or providing information, between the Bank, on the one
hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review
of the ratings it assigns to the Bank, (ii) such Rating Agency’s or NRSRO’s approval of the Bank as a residential mortgage
master, special or primary servicer, or (iii) such Rating Agency’s or NRSRO’s evaluation of the Bank’s servicing
operations in general; provided, however, that the Bank shall not provide any information relating to the Mortgage Loans to such
Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency or NRSRO unless: (x) borrower, property
or deal specific identifiers are redacted; or (y) such information has already been provided to the Rule 17g-5 Information Provider.


 



    	23



    	 



    

 


IN WITNESS WHEREOF,
the parties hereto have executed this Agreement the day and year first above written.


 


	 	REDWOOD RESIDENTIAL ACQUISITION
 CORPORATION
	 	Assignor
	 	 
	 	By:	/s/ John Isbrandtsen
	 	Name:	John Isbrandtsen
	 	Title:	Authorized Officer


 


	 	SEQUOIA RESIDENTIAL FUNDING, INC.
	 	Depositor
	 	 
	 	By:	/s/ John Isbrandtsen
	 	Name:	John Isbrandtsen
	 	Title:	Authorized Officer


 


	 	CHRISTIANA TRUST, A DIVISION OF

WILMINGTON SAVINGS FUND SOCIETY, FSB,

not in its individual capacity but solely as Trustee, Assignee
	 	 
	 	By:	/s/ Jeffrey R. Everhart
	 	Name:	Jeffrey R. Everhart
	 	Title:	AVP


 


	 	FIRST REPUBLIC BANK
	 	 
	 	By:	/s/ Tony Sachs
	 	Name:	Tony Sachs
	 	Title:	VP


 


	Accepted and agreed to by:	 
	 	 
	WELLS FARGO BANK, N.A.	 
	Master Servicer	 
	 	 
	By:	/s/ Graham M. Oglesby	 
	Name:	Graham M. Oglesby	 
	Title:	VP	 


 


Signature Page to Assignment, Assumption and Recognition Agreement
– First Republic (SEMT 2013-1)


 



    	 



    	 



    

 


ATTACHMENT 1


 


MORTGAGE LOAN SCHEDULE


 






    	 



    	 



    



 


	 	1	2	3	4	5	6	7	8	9	10
	 	Primary
    Servicer	Servicing
    Fee %	Servicing
    Fee—Flatdollar	Servicing
    Advance Methodology	Originator	Loan
    Group	Loan
    Number	Amortization
    Type	Lien
    Position	HELOC
    Indicator
	1	1002338	0.002500	 	 	1002338	Group 2	12-492544-2	1	1	0
	2	1002338	0.002500	 	 	1002338	Group 2	12-493010-3	1	1	0
	3	1002338	0.002500	 	 	1002338	Group 2	12-494005-2	1	1	0
	4	1002338	0.002500	 	 	1002338	Group 2	12-494583-8	1	1	0
	5	1002338	0.002500	 	 	1002338	Group 2	12-487898-9	1	1	0
	6	1002338	0.002500	 	 	1002338	Group 2	12-491726-6	1	1	0
	7	1002338	0.002500	 	 	1002338	Group 1	22-114311-4	2	1	0
	8	1002338	0.002500	 	 	1002338	Group 2	12-489826-8	1	1	0
	9	1002338	0.002500	 	 	1002338	Group 2	12-490117-9	1	1	0
	10	1002338	0.002500	 	 	1002338	Group 1	978000029	2	1	0
	11	1002338	0.002500	 	 	1002338	Group 1	22-471621-3	2	1	0
	12	1002338	0.002500	 	 	1002338	Group 1	22-474570-9	2	1	0
	13	1002338	0.002500	 	 	1002338	Group 2	12-492068-2	1	1	0
	14	1002338	0.002500	 	 	1002338	Group 2	12-494913-7	1	1	0
	15	1002338	0.002500	 	 	1002338	Group 2	12-492598-8	1	1	0
	16	1002338	0.002500	 	 	1002338	Group 2	12-494036-7	1	1	0
	17	1002338	0.002500	 	 	1002338	Group 2	12-494061-5	1	1	0
	18	1002338	0.002500	 	 	1002338	Group 1	978000072	2	1	0
	19	1002338	0.002500	 	 	1002338	Group 2	12-494101-9	1	1	0
	20	1002338	0.002500	 	 	1002338	Group 2	12-492376-9	1	1	0
	21	1002338	0.002500	 	 	1002338	Group 2	12-494417-9	1	1	0
	22	1002338	0.002500	 	 	1002338	Group 1	978000008	2	1	0
	23	1002338	0.002500	 	 	1002338	Group 2	12-483241-6	1	1	0
	24	1002338	0.002500	 	 	1002338	Group 1	978000081	2	1	0
	25	1002338	0.002500	 	 	1002338	Group 1	3000002109	2	1	0




 





	 	11	12	13	14	15	16	17	18	19	20
	 	Loan
    Purpose	Cash
    Out Amount	Total
    Origination and Discount Points	Covered/High
    Cost Loan Indicator	Relocation
    Loan Indicator	Broker
    Indicator	Channel	Escrow
    Indicator	Senior
    Loan
 Amount(s)	Loan
    Type of Most
 Senior Lien
	1	7	 	 	 	 	 	1	0	0	 
	2	9	 	 	 	 	 	1	0	0	 
	3	7	 	 	 	 	 	1	0	0	 
	4	7	 	 	 	 	 	1	0	0	 
	5	6	 	 	 	 	 	1	0	0	 
	6	9	 	 	 	 	 	1	0	0	 
	7	9	 	 	 	 	 	1	0	0	 
	8	7	 	 	 	 	 	1	0	0	 
	9	9	 	 	 	 	 	1	0	0	 
	10	9	 	 	 	 	 	1	0	0	 
	11	7	 	 	 	 	 	1	0	0	 
	12	9	 	 	 	 	 	1	0	0	 
	13	6	 	 	 	 	 	1	0	0	 
	14	7	 	 	 	 	 	1	0	0	 
	15	7	 	 	 	 	 	1	0	0	 
	16	7	 	 	 	 	 	1	0	0	 
	17	7	 	 	 	 	 	1	0	0	 
	18	6	 	 	 	 	 	1	0	0	 
	19	7	 	 	 	 	 	1	0	0	 
	20	3	 	 	 	 	 	1	0	0	 
	21	9	 	 	 	 	 	1	0	0	 
	22	6	 	 	 	 	 	1	0	0	 
	23	3	 	 	 	 	 	1	0	0	 
	24	3	 	 	 	 	 	1	0	0	 
	25	9	 	 	 	 	 	1	0	0	 







 





	 	21	22	23	24	25	26	27	28	29	30	31
	 	Hybrid
    Period of
 Most Senior Lien (in
 months)	Neg
    Am Limit of
 Most Senior Lien	Junior
    Mortgage
 Balance	Origination
    Date of
 Most Senior Lien	Origination
    Date	Original
    Loan
 Amount	Original
    Interest
 Rate	Original

    Amortization Term	Original
    Term to
 Maturity	First
    Payment Date
 of Loan	Interest
    Type
 Indicator
	1	 	 	0.00	 	20121012	585000.00	0.043000	360	360	20121201	1
	2	 	 	0.00	 	20121115	625000.00	0.040000	360	360	20130101	1
	3	 	 	0.00	 	20121105	636750.00	0.037500	360	360	20130101	1
	4	 	 	0.00	 	20121102	766400.00	0.036500	360	360	20130101	1
	5	 	 	0.00	 	20120717	787500.00	0.035000	240	240	20120901	1
	6	 	 	0.00	 	20121015	785000.00	0.042500	360	360	20121201	1
	7	 	 	430000.00	 	20111221	855000.00	0.031000	360	360	20120201	1
	8	 	 	0.00	 	20120821	936000.00	0.039500	360	360	20121001	1
	9	 	 	0.00	 	20121010	985000.00	0.038500	360	360	20121201	1
	10	 	 	0.00	 	20110920	997000.00	0.040500	360	360	20111101	1
	11	 	 	280000.00	 	20110707	1000000.00	0.041500	360	360	20110901	1
	12	 	 	0.00	 	20111025	1000000.00	0.042000	360	360	20111201	1
	13	 	 	0.00	 	20120927	1072000.00	0.036500	360	360	20121201	1
	14	 	 	0.00	 	20121129	1100000.00	0.032000	360	360	20130201	1
	15	 	 	0.00	 	20121025	1128000.00	0.036500	360	360	20121201	1
	16	 	 	0.00	 	20121025	1300000.00	0.035000	360	360	20121201	1
	17	 	 	200000.00	 	20121102	1360000.00	0.036500	360	360	20130101	1
	18	 	 	0.00	 	20110727	1360000.00	0.043500	360	360	20110901	1
	19	 	 	0.00	 	20121102	1400000.00	0.035500	360	360	20130101	1
	20	 	 	0.00	 	20121108	1500000.00	0.037500	360	360	20130101	1
	21	 	 	0.00	 	20121130	1710000.00	0.036500	360	360	20130201	1
	22	 	 	450000.00	 	20110621	1900000.00	0.043000	360	360	20110801	1
	23	 	 	0.00	 	20120920	1920000.00	0.039000	360	360	20121101	1
	24	 	 	0.00	 	20110705	2000000.00	0.042500	360	360	20110901	1
	25	 	 	0.00	 	20111221	2325000.00	0.029500	360	360	20120201	1







 





	 	32	33	34	35	36	37	38	39	40	41
	 	Original
    Interest
 Only Term	Buy
    Down Period	HELOC
    Draw Period	Current
    Loan
 Amount	Current
    Interest
 Rate	Current
    Payment
 Amount Due	Interest
    Paid
 Through Date	Current
    Payment
 Status	Index
    Type	ARM
    Look-back
 Days
	1	0	0	 	583399.64	0.043000	2895.00	20130101	0	 	 
	2	0	0	 	624099.48	0.040000	2983.85	20130101	0	 	 
	3	0	0	 	635790.95	0.037500	2948.89	20130101	0	 	 
	4	0	0	 	765225.16	0.036500	3505.97	20130101	0	 	 
	5	0	0	 	773778.39	0.035000	4567.18	20130101	0	 	 
	6	0	0	 	782833.13	0.042500	3861.73	20130101	0	 	 
	7	120	0	 	855000.00	0.031000	2208.75	20130101	0	35	45
	8	0	0	 	930530.39	0.039500	4441.67	20130101	0	 	 
	9	0	0	 	982080.22	0.038500	4617.76	20130101	0	 	 
	10	120	0	 	997000.00	0.040500	3364.88	20130101	0	35	45
	11	120	0	 	1000000.00	0.041500	3458.33	20130101	0	35	45
	12	120	0	 	1000000.00	0.042000	3500.00	20130101	0	35	45
	13	0	0	 	1068708.40	0.036500	4903.97	20130101	0	 	 
	14	0	0	 	1100000.00	0.032000	4757.14	20130101	0	 	 
	15	0	0	 	1124536.46	0.036500	5160.14	20130101	0	 	 
	16	0	0	 	1295902.21	0.035000	5837.58	20130101	0	 	 
	17	0	0	 	1357915.22	0.036500	6221.45	20130101	0	 	 
	18	120	0	 	1360000.00	0.043500	4930.00	20130101	0	35	45
	19	0	0	 	1397815.90	0.035500	6325.77	20130101	0	 	 
	20	0	0	 	1497740.77	0.037500	6946.73	20130101	0	 	 
	21	0	0	 	1710000.00	0.036500	7822.56	20130101	0	 	 
	22	120	0	 	1900000.00	0.043000	6808.33	20130101	0	35	45
	23	0	0	 	1911524.43	0.039000	9056.03	20130101	0	 	 
	24	120	0	 	2000000.00	0.042500	7083.33	20130101	0	35	45
	25	120	0	 	2325000.00	0.029500	5715.63	20130101	0	35	15







 





	 	42	43	44	45	46	47	48	49	50
	 	Gross
    Margin	ARM
    Round Flag	ARM
    Round Factor	Initial
    Fixed Rate
 Period	Initial
    Interest Rate
 Cap (Change Up)	Initial
    Interest Rate
 Cap (Change Down)	Subsequent
    Interest
 Rate Reset Period	Subsequent
    Interest
 Rate Cap (Change Down)	Subsequent
    Interest
 Rate Cap (Change
 Up)
	1	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 
	7	0.014500	3	0.001250	60	0.050000	0.050000	1	0.000000	0.000000
	8	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 
	10	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	11	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	12	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	13	 	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 	 
	18	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	19	 	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 	 
	22	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	23	 	 	 	 	 	 	 	 	 
	24	0.016250	3	0.001250	120	0.050000	0.050000	1	0.000000	0.000000
	25	0.016250	3	0.001250	60	0.050000	0.050000	1	0.000000	0.000000







 





	 	51	52	53	54	55	56	57	58	59
	 	Lifetime
    Maximum
 Rate (Ceiling)	Lifetime
    Minimum
 Rate (Floor)	Negative

    Amortization Limit	Initial
    Negative
 Amortization Recast
 Period	Subsequent

    Negative
 Amortization Recast
 Period	Initial
    Fixed
 Payment Period	Subsequent

    Payment Reset
 Period	Initial
    Periodic
 Payment Cap	Subsequent

    Periodic Payment
 Cap
	1	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 
	7	0.081000	0.028500	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 
	10	0.090500	0.029000	 	 	 	 	 	 	 
	11	0.091500	0.029000	 	 	 	 	 	 	 
	12	0.092000	0.029000	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 	 
	18	0.093500	0.029000	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 	 
	22	0.093000	0.029000	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 	 
	24	0.092500	0.029000	 	 	 	 	 	 	 
	25	0.079500	0.027000	 	 	 	 	 	 	 







 





	 	60	61	62	63	64	65	66	67	68
	 	Initial
    Minimum
 Payment Reset
 Period	Subsequent

    Minimum Payment
 Reset Period	Option
    ARM
 Indicator	Options
    at Recast	Initial
    Minimum
 Payment	Current
    Minimum
 Payment	Prepayment
    Penalty
 Calculation	Prepayment
    Penalty
 Type	Prepayment
    Penalty
 Total Term
	1	 	 	 	 	 	 	99	99	60
	2	 	 	 	 	 	 	99	99	60
	3	 	 	 	 	 	 	99	99	60
	4	 	 	 	 	 	 	99	99	60
	5	 	 	 	 	 	 	99	99	60
	6	 	 	 	 	 	 	 	 	0
	7	 	 	 	 	 	 	99	99	48
	8	 	 	 	 	 	 	99	99	60
	9	 	 	 	 	 	 	99	99	60
	10	 	 	 	 	 	 	99	99	60
	11	 	 	 	 	 	 	99	99	60
	12	 	 	 	 	 	 	99	99	60
	13	 	 	 	 	 	 	99	99	60
	14	 	 	 	 	 	 	99	99	60
	15	 	 	 	 	 	 	99	99	60
	16	 	 	 	 	 	 	99	99	60
	17	 	 	 	 	 	 	99	99	60
	18	 	 	 	 	 	 	99	99	60
	19	 	 	 	 	 	 	99	99	60
	20	 	 	 	 	 	 	99	99	60
	21	 	 	 	 	 	 	99	99	60
	22	 	 	 	 	 	 	99	99	60
	23	 	 	 	 	 	 	99	99	60
	24	 	 	 	 	 	 	99	99	60
	25	 	 	 	 	 	 	99	99	48







 





	 	69	70	71	72	73	74	75	76	77	78
	 	Prepayment
    Penalty
 Hard Term	Primary
    Borrower ID	Number
    of
 Mortgaged
 Properties	Total
    Number of
 Borrowers	Self-employment

    Flag	Current
    ‘Other’
 Monthly Payment	Length
    of
 Employment:
 Borrower	Length
    of
 Employment: Co-
 Borrower	Years
    in Home	FICO
    Model Used
	1	 	346	5	 	0	 	20	15	0	1
	2	 	109	1	 	1	 	0.5	7	0	1
	3	 	382	1	 	0	 	2	 	0	1
	4	 	419	2	 	0	 	10	4.5	0	1
	5	 	378	2	 	0	 	1.5	1	0	1
	6	 	135	2	 	0	 	0	1	3	1
	7	 	96	2	 	0	 	19	 	20	1
	8	 	449	1	 	0	 	10	15	0	1
	9	 	446	1	 	0	 	7	2	1	1
	10	 	416	1	 	0	 	0.6	7	2	1
	11	 	455	3	 	0	 	15	3	0	1
	12	 	58	1	 	1	 	14	0	7	1
	13	 	318	1	 	1	 	6	6	0	1
	14	 	173	2	 	0	 	26	25	0	1
	15	 	514	3	 	0	 	0	3.75	0	1
	16	 	462	1	 	1	 	20	 	0	1
	17	 	249	3	 	0	 	1	3	0	1
	18	 	15	1	 	0	 	8	 	0	1
	19	 	133	1	 	0	 	1	 	0	1
	20	 	468	3	 	0	 	17	 	0	1
	21	 	193	4	 	0	 	23	 	3	1
	22	 	368	1	 	0	 	5	 	0	1
	23	 	402	8	 	1	 	20	20	6	1
	24	 	139	2	 	0	 	0	 	1	1
	25	 	96	2	 	0	 	19	 	20	1







 





	 	79	80	81	82	83	84	85	86	87
	 	Most
    Recent FICO
 Date	Primary
    Wage
 Earner Original
 FICO: Equifax	Primary
    Wage
 Earner Original
 FICO: Experian	Primary
    Wage
 Earner Original
 FICO: TransUnion	Secondary
    Wage
 Earner Original
 FICO: Equifax	Secondary
    Wage
 Earner Original
 FICO: Experian	Secondary
    Wage
 Earner Original
 FICO: TransUnion	Original

    Primary Borrower
 FICO	Most
    Recent
 Primary Borrower
 FICO
	1	 	 	 	 	 	 	 	781	 
	2	 	 	 	 	 	 	 	762	 
	3	 	 	 	 	 	 	 	798	 
	4	 	 	 	 	 	 	 	748	 
	5	 	 	 	 	 	 	 	738	 
	6	 	 	 	 	 	 	 	784	 
	7	20121212	 	 	 	 	 	 	778	800
	8	 	 	 	 	 	 	 	736	 
	9	 	 	 	 	 	 	 	768	 
	10	20121212	 	 	 	 	 	 	790	778
	11	20121212	 	 	 	 	 	 	788	788
	12	20121212	 	 	 	 	 	 	801	789
	13	 	 	 	 	 	 	 	778	 
	14	 	 	 	 	 	 	 	816	 
	15	 	 	 	 	 	 	 	778	 
	16	 	 	 	 	 	 	 	726	 
	17	 	 	 	 	 	 	 	747	 
	18	20121212	 	 	 	 	 	 	791	682
	19	 	 	 	 	 	 	 	812	 
	20	 	 	 	 	 	 	 	767	 
	21	 	 	 	 	 	 	 	774	 
	22	20121212	 	 	 	 	 	 	771	722
	23	 	 	 	 	 	 	 	697	 
	24	20121212	 	 	 	 	 	 	727	715
	25	20121212	 	 	 	 	 	 	778	800







 





	 	88	89	90	91	92	93	94	95	96
	 	Most
    Recent Co-
 Borrower FICO	Most
    Recent FICO
 Method	VantageScore:

    Primary Borrower	VantageScore:
    Co-
 Borrower	Most
    Recent
 VantageScore
 Method	VantageScore
    Date	Credit
    Report:
 Longest Trade Line	Credit
    Report:
 Maximum Trade
 Line	Credit
    Report:
 Number of Trade
 Lines
	1	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 	 
	7	 	3	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 	 
	10	 	3	 	 	 	 	 	 	 
	11	 	3	 	 	 	 	 	 	 
	12	 	3	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 	 
	18	 	3	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 	 
	22	 	3	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 	 
	24	 	3	 	 	 	 	 	 	 
	25	 	3	 	 	 	 	 	 	 







 





	 	97	98	99	100	101	102	103	104
	 	Credit
    Line Usage
 Ratio	Most
    Recent 12-
 month Pay History	Months
    Bankruptcy	Months
    Foreclosure	Primary
    Borrower
 Wage Income	Co-Borrower
    Wage
 Income	Primary
    Borrower
 Other Income	Co-Borrower
    Other
 Income
	1	 	000000000000	 	 	36806.26	2266.66	0.00	0.00
	2	 	000000000000	 	 	6000.00	13050.00	0.00	0.00
	3	 	000000000000	 	 	0.00	 	17206.92	 
	4	 	000000000000	 	 	18750.00	13500.00	0.00	0.00
	5	 	000000000000	 	 	49242.00	0.00	0.00	0.00
	6	 	000000000000	 	 	16666.66	10833.42	0.00	0.00
	7	 	000000000000	 	 	29166.67	0.00	27083.34	0.00
	8	 	000000000000	 	 	0.00	0.00	11430.00	6263.00
	9	 	000000000000	 	 	14409.13	3992.00	4166.66	0.00
	10	 	000000000000	 	 	10417.00	0.00	683.00	751.00
	11	 	000000000000	 	 	8333.33	7002.00	10870.56	0.00
	12	 	000000000000	 	 	6193.00	 	5155.00	 
	13	 	000000000000	 	 	0.00	0.00	28528.00	0.00
	14	 	000000000000	 	 	10125.00	19200.00	4639.85	0.00
	15	 	000000000000	 	 	25000.00	3281.00	1380.00	0.00
	16	 	000000000000	 	 	0.00	 	26150.33	 
	17	 	000000000000	 	 	30833.33	13000.00	0.00	0.00
	18	 	000000000000	 	 	11875.00	0.00	15000.00	0.00
	19	 	000000000000	 	 	32583.33	 	0.00	 
	20	 	000000000000	 	 	74208.00	0.00	61216.00	0.00
	21	 	000000000000	 	 	46332.64	 	15797.75	 
	22	 	000000000000	 	 	0.00	 	67866.74	 
	23	 	000000000000	 	 	141838.00	0.00	0.00	0.00
	24	 	000000000000	 	 	0.00	 	26606.00	 
	25	 	000000000000	 	 	29166.67	0.00	27083.34	0.00







 





	 	105	106	107	108	109	110	111	112
	 	All
    Borrower Wage
 Income	All
    Borrower Total
 Income	4506-T
    Indicator	Borrower
    Income
 Verification Level	Co-Borrower

    Income Verification	Borrower

    Employment
 Verification	Co-Borrower

    Employment
 Verification	Borrower
    Asset
 Verification
	1	39072.92	39072.92	0	5	 	3	 	4
	2	19050.00	19050.00	1	4	 	2	 	4
	3	0.00	17206.92	0	5	 	2	 	4
	4	32250.00	32250.00	0	5	 	2	 	4
	5	49242.00	49242.00	0	5	 	2	 	4
	6	27500.08	27500.08	0	5	 	2	 	4
	7	29166.67	56250.01	0	5	 	2	 	4
	8	0.00	17693.00	0	5	 	2	 	4
	9	18401.13	22567.79	1	5	 	3	 	4
	10	10417.00	11850.58	0	5	 	2	 	4
	11	15335.33	26205.97	0	5	 	2	 	4
	12	6193.00	11348.00	0	5	 	2	 	3
	13	0.00	28528.00	0	4	 	2	 	4
	14	29325.00	33964.85	1	5	 	2	 	4
	15	28281.00	29661.00	1	5	 	2	 	4
	16	0.00	26150.33	1	4	 	2	 	4
	17	51151.66	64477.24	1	5	 	3	 	4
	18	11875.00	26875.00	0	5	 	2	 	4
	19	32583.33	32583.33	0	5	 	3	 	4
	20	74208.00	135424.00	1	5	 	2	 	4
	21	46332.64	62130.39	0	5	 	2	 	4
	22	0.00	67866.74	0	5	 	2	 	4
	23	141838.00	141838.00	0	5	 	3	 	3
	24	0.00	26606.00	0	5	 	2	 	3
	25	29166.67	56250.01	0	5	 	2	 	4







 





	 	113	114	115	116	117	118	119
	 	Co-Borrower
    Asset
 Verification	Liquid
    / Cash
 Reserves	Monthly
    Debt All
 Borrowers	Originator
    DTI	Fully
    Indexed Rate	Qualification

    Method	Percentage
    of Down
 Payment from
 Borrower Own
 Funds
	1	 	763202.51	8740.61	0.223700	 	 	100.000000
	2	 	52760.43	4168.67	0.218828	 	 	 
	3	 	842850.49	5817.01	0.338062	 	 	100.000000
	4	 	201751.88	9102.43	0.282246	 	 	100.000000
	5	 	1449029.00	12498.85	0.253825	 	 	0.000000
	6	 	287909.84	6575.57	0.239111	 	 	 
	7	 	1075866.50	21375.00	0.380000	 	 	 
	8	 	298156.70	5926.82	0.334981	 	 	0.000000
	9	 	273652.70	7405.60	0.328149	 	 	 
	10	 	271567.00	4740.23	0.400000	 	 	 
	11	 	4942401.60	7337.67	0.280000	 	 	100.000000
	12	 	966841.81	4530.12	0.399200	 	 	 
	13	 	70886.00	7478.53	0.262147	 	 	0.000000
	14	 	608162.03	11749.94	0.345944	 	 	100.000000
	15	 	895627.49	12636.33	0.426025	 	 	100.000000
	16	 	340584.04	8795.48	0.336343	 	 	100.000000
	17	 	439956.90	25405.19	0.394018	 	 	100.000000
	18	 	680629.00	7256.25	0.270000	 	 	100.000000
	19	 	847381.53	8400.18	0.257806	 	 	100.000000
	20	 	1687977.09	8414.30	0.062133	 	 	 
	21	 	11960683.87	11104.44	0.178728	 	 	 
	22	 	2698358.00	15609.35	0.230000	 	 	100.000000
	23	 	5373337.56	17743.22	0.125095	 	 	 
	24	 	12881768.37	16817.65	0.632100	 	 	 
	25	 	1068689.22	21375.00	0.380000	 	 	 







 





	 	120	121	122	123	124	125	126	127	128
	 	City	State	Postal
    Code	Property
    Type	Occupancy	Sales
    Price	Original
    Appraised
 Property Value	Original
    Property
 Valuation Type	Original
    Property
 Valuation Date
	1	SAN RAFAEL	CA	94901	14	3	900000.00	900000.00	3	20120926
	2	Kenwood	CA	95452	1	3	 	1100000.00	3	20121011
	3	APTOS	CA	95003	1	2	849000.00	849000.00	3	20121025
	4	ORINDA	CA	94563	1	1	958000.00	958000.00	3	20121026
	5	SAN FRANCISCO	CA	94115	3	1	1050000.00	1050000.00	3	20120706
	6	SAN FRANCISCO	CA	94105	4	1	 	1130000.00	3	20120920
	7	SAN FRANCISCO	CA	94127	1	1	 	1650000.00	3	20111121
	8	SAN FRANCISCO	CA	94131	1	1	1170000.00	1175000.00	3	20120803
	9	San Francisco	CA	94109	3	1	 	1350000.00	3	20120920
	10	ORINDA	CA	94563	1	1	 	1400000.00	3	20110830
	11	SAN FRANCISCO	CA	94118	1	1	1600000.00	1700000.00	3	20110602
	12	NEW YORK	NY	10024	2	1	 	1740000.00	3	20110914
	13	LAFAYETTE	CA	94549	1	1	1340000.00	1355000.00	3	20120917
	14	Cayucos	CA	93430	1	2	1586000.00	1600000.00	3	20121109
	15	SAN FRANCISCO	CA	94118	3	1	1410000.00	1410000.00	3	20120926
	16	TIBURON	CA	94920	1	1	1625000.00	1855000.00	3	20121022
	17	SAN FRANCISCO	CA	94114	1	1	1950000.00	1950000.00	3	20121019
	18	BROOKLYN	NY	11231	13	1	1699999.00	1700000.00	3	20110601
	19	SAN FRANCSICO	CA	94114	1	1	1750000.00	1750000.00	3	20121023
	20	Santa Monica	CA	90402	1	1	 	2500000.00	3	20121010
	21	Malibu	CA	90265	1	1	 	2900000.00	3	20121114
	22	SAN FRANCISCO	CA	94115	4	1	3450000.00	3450000.00	3	20110429
	23	SAN ANSELMO	CA	94960	1	1	 	3200000.00	3	20120511
	24	BOSTON	MA	02116	3	1	 	3490000.00	3	20110602
	25	GEYSERVILLE	CA	95441	1	2	 	3400000.00	3	20111119







 





	 	129	130	131	132	133	134
	 	Original
    Automated
 Valuation Model
 (AVM) Model Name	Original
    AVM
 Confidence Score	Most
    Recent
 Property Value2	Most
    Recent
 Property Valuation
 Type	Most
    Recent
 Property Valuation
 Date	Most
    Recent AVM
 Model Name
	1	 	 	 	 	 	 
	2	 	 	 	 	 	 
	3	 	 	 	 	 	 
	4	 	 	 	 	 	 
	5	 	 	 	 	 	 
	6	 	 	 	 	 	 
	7	 	 	 	 	 	 
	8	 	 	 	 	 	 
	9	 	 	 	 	 	 
	10	 	 	 	 	 	 
	11	 	 	 	 	 	 
	12	 	 	 	 	 	 
	13	 	 	 	 	 	 
	14	 	 	 	 	 	 
	15	 	 	 	 	 	 
	16	 	 	 	 	 	 
	17	 	 	 	 	 	 
	18	 	 	 	 	 	 
	19	 	 	 	 	 	 
	20	 	 	 	 	 	 
	21	 	 	 	 	 	 
	22	 	 	 	 	 	 
	23	 	 	 	 	 	 
	24	 	 	 	 	 	 
	25	 	 	 	 	 	 







 





	 	135	136	137	138	139	140	141	142
	 	Most
    Recent AVM
 Confidence Score	Original
    CLTV	Original
    LTV	Original
    Pledged
 Assets	Mortgage
    Insurance
 Company Name	Mortgage
    Insurance
 Percent	MI:
    Lender or
 Borrower Paid?	Pool
    Insurance Co.
 Name
	1	 	0.650000	0.650000	0	0	0	 	 
	2	 	0.568100	0.568100	0	0	0	 	 
	3	 	0.750000	0.750000	0	0	0	 	 
	4	 	0.800000	0.800000	0	0	0	 	 
	5	 	0.750000	0.750000	0	0	0	 	 
	6	 	0.694600	0.694600	0	0	0	 	 
	7	 	0.778700	0.518100	0	0	0	 	 
	8	 	0.800000	0.800000	0	0	0	 	 
	9	 	0.729600	0.729600	0	0	0	 	 
	10	 	0.712100	0.712100	0	0	0	 	 
	11	 	0.800000	0.625000	0	0	0	 	 
	12	 	0.574700	0.574700	0	0	0	 	 
	13	 	0.800000	0.800000	0	0	0	 	 
	14	 	0.693500	0.693500	0	0	0	 	 
	15	 	0.800000	0.800000	0	0	0	 	 
	16	 	0.800000	0.800000	0	0	0	 	 
	17	 	0.800000	0.697400	0	0	0	 	 
	18	 	0.800000	0.800000	0	0	0	 	 
	19	 	0.800000	0.800000	0	0	0	 	 
	20	 	0.600000	0.600000	0	0	0	 	 
	21	 	0.589600	0.589600	0	0	0	 	 
	22	 	0.681100	0.550700	0	0	0	 	 
	23	 	0.600000	0.600000	0	0	0	 	 
	24	 	0.573000	0.573000	0	0	0	 	 
	25	 	0.683800	0.683800	0	0	0	 	 







 





	 	143	144	145	146	147	148	149	150
	 	Pool
    Insurance Stop
 Loss %	MI
    Certificate
 Number	Updated
    DTI
 (Front-end)	Updated
    DTI
 (Back-end)	Modification

    Effective Payment
 Date	Total
    Capitalized
 Amount	Total
    Deferred
 Amount	Pre-Modification

    Interest (Note) Rate
	1	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 
	7	 	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 
	10	 	 	 	 	 	 	 	 
	11	 	 	 	 	 	 	 	 
	12	 	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 
	18	 	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 
	22	 	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 
	24	 	 	 	 	 	 	 	 
	25	 	 	 	 	 	 	 	 







 





	 	151	152	153	154	155	156	157	158
	 	Pre-Modification
    P&I
 Payment	Pre-Modification

    Initial Interest Rate
 Change Downward
 Cap	Pre-Modification

    Subsequent Interest
 Rate Cap	Pre-Modification

    Next Interest Rate
 Change Date	Pre-Modification
    

    I/O Term	Forgiven
    Principal
 Amount	Forgiven
    Interest
 Amount	Number
    of
 Modifications
	1	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 
	3	 	 	 	 	 	 	 	 
	4	 	 	 	 	 	 	 	 
	5	 	 	 	 	 	 	 	 
	6	 	 	 	 	 	 	 	 
	7	 	 	 	 	 	 	 	 
	8	 	 	 	 	 	 	 	 
	9	 	 	 	 	 	 	 	 
	10	 	 	 	 	 	 	 	 
	11	 	 	 	 	 	 	 	 
	12	 	 	 	 	 	 	 	 
	13	 	 	 	 	 	 	 	 
	14	 	 	 	 	 	 	 	 
	15	 	 	 	 	 	 	 	 
	16	 	 	 	 	 	 	 	 
	17	 	 	 	 	 	 	 	 
	18	 	 	 	 	 	 	 	 
	19	 	 	 	 	 	 	 	 
	20	 	 	 	 	 	 	 	 
	21	 	 	 	 	 	 	 	 
	22	 	 	 	 	 	 	 	 
	23	 	 	 	 	 	 	 	 
	24	 	 	 	 	 	 	 	 
	25	 	 	 	 	 	 	 	 







 





	 	159	160	161	162	163	164
	 	Cash
    To/From Brrw at Closing	Brrw
    - Yrs at in Industry	CoBrrw
    - Yrs at in Industry	Junior
    Mortgage Drawn Amount	Maturity
    Date	Primary
    Borrower Wage Income (Salary)
	1	 	24	15	0	20421101	36806.26
	2	 	28	16	0	20421201	6000
	3	 	2	 	0	20421201	0
	4	 	10	10	0	20421201	18750
	5	 	1.5	1	0	20320801	49242
	6	 	13	7	0	20421101	16666.66
	7	 	36	 	430000	20420101	29166.67
	8	 	10	 	0	20420901	0
	9	 	7	4	0	20421101	14409.13
	10	 	19	7	0	20411001	10417
	11	 	15	4	280000	20410801	8333
	12	 	14	0	0	20411101	6193
	13	 	6	12	0	20421101	0
	14	 	26	26	0	20430101	10125
	15	 	13	4	0	20421101	25000
	16	 	20	 	0	20421101	0
	17	 	16	3	200000	20421201	30833.33
	18	 	13	 	0	20410801	11875
	19	 	16	 	0	20421201	32583.33
	20	 	33	 	0	20421201	74208
	21	 	28	 	0	20430101	46332.64
	22	 	5	 	450000	20410701	0
	23	 	20	20	0	20421001	141838
	24	 	0	 	0	20410801	0
	25	 	36	 	0	20420101	29167







 





	 	165	166	167	168	169
	 	Primary
    Borrower Wage Income (Bonus)	Primary
    Borrower Wage Income (Commission)	Co-Borrower
    Wage Income (Salary)	Co-Borrower
    Wage Income (Bonus)	Co-Borrower
    Wage Income (Commission)
	1	0	0	2266.66	0	0
	2	0	0	13050	0	0
	3	0	0	0	0	0
	4	0	0	13500	0	0
	5	0	0	0	0	0
	6	0	0	10833.42	0	0
	7	27083.34	0	0	0	0
	8	0	0	0	0	0
	9	4166.66	0	3992	0	0
	10	0	0	0	0	0
	11	0	0	7002	0	0
	12	0	0	 	 	 
	13	0	0	0	0	0
	14	0	0	19200	0	0
	15	0	0	3281	0	0
	16	0	0	0	0	0
	17	0	0	13000	0	0
	18	15000	0	0	0	0
	19	0	0	0	0	0
	20	0	0	0	0	0
	21	0	0	0	0	0
	22	0	0	 	 	 
	23	0	0	0	0	0
	24	0	0	 	 	 
	25	27083	0	 	 	 







 





	 	170	171	172
	 	Originator
    Doc Code	RWT
    Income Verification	RWT
    Asset Verification
	1	Full	Two Years	Two Months
	2	Full	Two Years	Two Months
	3	Full	Two Years	Two Months
	4	Full	Two Years	Two Months
	5	Full	Two Years	Two Months
	6	Full	Two Years	Two Months
	7	Full	Two Years	Two Months
	8	Full	Two Years	Two Months
	9	Full	Two Years	Two Months
	10	Full	Two Years	Two Months
	11	Full	Two Years	Two Months
	12	Full	Two Years	One Month
	13	Full	Two Years	Two Months
	14	Full	Two Years	Two Months
	15	Full	Two Years	Two Months
	16	Full	Two Years	Two Months
	17	Full	Two Years	Two Months
	18	Full	Two Years	Two Months
	19	Full	Two Years	Two Months
	20	Full	Two Years	Two Months
	21	Full	Two Years	Two Months
	22	Full	Two Years	Two Months
	23	Full	Two Years	One Month
	24	Full	Two Years	One Month
	25	Full	Two Years	Two Months







 





  










 






    	 



    	 



    
 





	MERSID	Organization
	1002338	First Republic







 






    	 



    	 



    
  









ASF RMBS DISCLOSURE PACKAGE


  
















	
Field


Number

	
Field Name

	
Field Description

	
Type of


Field

	
Data Type

	
Sample Data

	
Format

	
When


Applicable?

	
Valid Values

	
Proposed


Unique


Coding

	
Notes


	
1

	
Primary Servicer

	
The MERS Organization ID of the company that has or will have the right to service the loan.

	
General Information

	
Numeric – Integer

	
2351805

	
9(7)

	
Always

	
”9999999” if Unknown

	  	  
	
2

	
Servicing Fee—Percentage

	
Aggregate monthly fee paid to all servicers, stated in decimal form.

	
General Information

	
Numeric - Decimal

	
0.0025

	
9.999999

	
Loans without flat-dollar servicing fees

	
>= 0 and < 1

	  	
Must be populated if Field 3 is Null


	
3

	
Servicing Fee—Flat-dollar

	
Aggregate monthly fee paid to all servicers, stated as a dollar amount.

	
General Information

	
Numeric – Decimal

	
7.5

	
9(3).99

	
Loans with flat-dollar servicing fees

	
>= 0 and


<= 999

	  	
Must be populated if 2 is Null


	
4

	
Servicing Advance Methodology

	
The manner in which principal and/or interest are to be advanced by the servicer.

	
General Information

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Scheduled Interest, Scheduled Principal


2 = Actual Interest, Actual Principal


3 = Scheduled Interest, Actual Principal


99 = Unknown

	  
	
5

	
Originator

	
The MERS Organization ID of the entity that lends funds to the borrower and, in return, places a lien on the mortgage property as collateral.

	
General Information

	
Numeric – Integer

	
5938671

	
9(7)

	
Always

	
”9999999” if Unknown

	  	  
	
6

	
Loan Group

	
Indicates the collateral group number in which the loan falls (for structures with multiple collateral groups). Use “1” if there is only one loan group.

	
General Information

	
Text

	
1A

	
XXXX

	
Always

	
“UNK” if Unknown

	  	  
	
7

	
Loan Number

	
Unique National Mortgage Loan ID Number (Vendor TBD).

	
General Information

	
Numeric – Integer

	
TBD

	
TBD

	
Always

	
TBD

	  	
Details to be provided by Vendor


	
8

	
Amortization Type

	
Indicates whether the loan’s interest rate is fixed or adjustable (Hybrid ARMs are adjustable).

	
Loan Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Fixed


2 = Adjustable


99 = Unknown

	  
	
9

	
Lien Position

	
A number indicating the loan’s lien position (1 = first lien, etc.).

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
>0

	
99 = Unknown

	  
	
10

	
HELOC Indicator

	
Indicates whether the loan is a home equity line of credit.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
11

	
Loan Purpose

	
Indicates the purpose of the loan.

	
Loan Type

	
Numeric – Integer

	
9

	
99

	
Always

	
See Coding

	
See Appendix A

	  
	
12

	
Cash Out Amount

	
For “Cash-out” loans (see Glossary):


 


[NEW LOAN AMOUNT] – [PAID-OFF FIRST MORTGAGE LOAN AMOUNT] – [PAID-OFF SECOND MORTGAGE LOAN AMOUNT (if Second was used to purchase the property)] – [CLOSING COSTS].

	
Loan Type

	
Numeric – Decimal

	
72476.5

	
9(10).99

	
Always

	
>= 0

	  	  
	
13

	
Total Origination and Discount Points (in dollars)

	
Amount paid to the lender to increase the lender’s effective yield and, in the case of discount points, to reduce the interest rate paid by the borrower.

	
Loan Type

	
Numeric – Decimal

	
5250

	
9(10).99

	
Always

	
>= 0

	  	
Typically Lines 801 and 802 of HUD Settlement Statement


	
14

	
Covered/High Cost Loan Indicator

	
Indicates whether the loan is categorized as “high cost” or “covered” according to state or federal statutes or regulations.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
15

	
Relocation Loan Indicator

	
Indicates whether the loan is part of a corporate relocation program.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
16

	
Broker Indicator

	
Indicates whether a broker took the application.

	
Loan Type

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
17

	
Channel

	
Code indicating the source (channel) from which the Issuer obtained the mortgage loan.

	
Loan Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1 = Retail


2 = Broker


3 = Correspondent Bulk


4 = Correspondent Flow with delegated underwriting


5 = Correspondent Flow without delegated underwriting


99 = Unknown

	  
	
18

	
Escrow Indicator

	
Indicates whether various homeownership expenses are paid by the borrower directly or through an escrow account (as of securitization cut-off date).

	
Loan Type

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
0 = No Escrows


1 = Taxes


2 = Insurance


3 = HOA dues


4 = Taxes and Insurance


5 = All


99 =Unknown

	  
	
19

	
Senior Loan Amount(s)

	
For non-first mortgages, the sum of the balances of all associated senior mortgages at the time of origination of the subordinate lien.

	
Mortgage Lien Info

	
Numeric – Decimal

	
611004.25

	
9(10).99

	
If Lien Position > 1

	
>= 0

	  	  
	
20

	
Loan Type of Most Senior Lien

	
For non-first mortgages, indicates whether the associated first mortgage is a Fixed, ARM, Hybrid, or negative amortization loan.

	
Mortgage Lien Info

	
Numeric – Integer

	
2

	
99

	
If Lien Position > 1

	
See Coding

	
1 = Fixed Rate


2 = ARM


3 = Hybrid


4 = Neg Am


99 = Unknown

	  
	
21

	
Hybrid Period of Most Senior Lien (in months)

	
For non-first mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest rate period for the hybrid first mortgage.

	
Mortgage Lien Info

	
Numeric – Integer

	
23

	
999

	
If Lien Position > 1


AND the most senior lien is a hybrid ARM (see Field 20)

	
>= 0

	  	  
	
22

	
Neg Am Limit of Most Senior Lien

	
For non-first mortgages where the associated first mortgage features negative amortization, the maximum percentage by which the negatively amortizing balance may increase (expressed as a proportion of the senior lien’s original balance).

	
Mortgage Lien Info

	
Numeric – Decimal

	
1.25

	
9.999999

	
If Lien Position > 1


AND the senior lien is Neg Am (see Field 20)

	
>= 1 and <= 2

	  	  
	
23

	
Junior Mortgage Balance

	
For first mortgages with subordinate liens at the time of origination, the combined balance of the subordinate liens (if known).

	
Mortgage Lien Info

	
Numeric – Decimal

	
51775.12

	
9(10).99

	
If Lien Position = 1 and there is a 2nd lien on the subject property

	
>= 0

	  	
Subject to Regulatory Confirmation


	
24

	
Origination Date of Most Senior Lien

	
For non-first mortgages, the origination date of the associated first mortgage.

	
Mortgage Lien Info

	
Date

	
20090914

	
YYYYMMDD

	
If Lien Position > 1 and there is a 2nd lien on the subject property

	
“19010101” if unknown

	  	  
	
25

	
Origination Date

	
The date of the Mortgage Note and Mortgage/Deed of Trust

	
Loan Term and Amortization Type

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
26

	
Original Loan Amount

	
The dollar amount of the mortgage loan, as specified on the mortgage note at the time of the loan’s origination. For HELOCs, the maximum available line of credit.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
150000

	
9(10).99

	
Always

	
>0

	  	  
	
27

	
Original Interest Rate

	
The original note rate as indicated on the mortgage note.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
0.0475

	
9.999999

	
Always

	
> 0 and <= 1

	  	  
	
28

	
Original Amortization Term

	
The number of months in which the loan would be retired if the amortizing principal and interest payment were to be paid each month.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
360

	
999

	
Always

	
>= 60

	  	  
	
29

	
Original Term to Maturity

	
The initial number of months between loan origination and the loan maturity date, as specified on the mortgage note.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
60

	
999

	
Always

	
>0

	
N/A

	  
	
30

	
First Payment Date of Loan

	
The date of the first scheduled mortgage payment to be made by the borrower as specified on the mortgage note.

	
Loan Term and Amortization Type

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	
N/A

	  
	
31

	
Interest Type Indicator

	
Indicates whether the interest rate calculation method is simple or actuarial.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
2

	
99

	
Always

	
See Coding

	
1= Simple


2 = Actuarial


99 = Unknown

	  
	
32

	
Original Interest Only Term

	
Original interest-only term for a loan in months (including NegAm Loans).

	
Loan Term and Amortization Type

	
Numeric – Integer

	
60

	
999

	
Always

	
>= 0 and <= 240


Unknown = Blank;


No Interest Only Term = 0

	  	  
	
33

	
Buy Down Period

	
The total number of months during which any buy down is in effect, representing the accumulation of all buy down periods.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
65

	
999

	
Always

	
>= 0 and <= 100


Unknown = Blank;


No Buy Down = 0

	  	  
	
34

	
HELOC Draw Period

	
The original number of months during which the borrower may draw funds against the HELOC account.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
24

	
999

	
HELOCs Only

	
>= 12 and <= 120

	  	  
	
35

	
Scheduled Loan Amount

	
Mortgage loan scheduled principal balance as of cut-off date. For HELOCs, the current drawn amount.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
248951.19

	
9(10).99

	
Always

	
>= 0

	  	  
	
36

	
Current Interest Rate

	
The interest rate used to calculate the current P&I or I/O payment.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
0.05875

	
9.999999

	
Always

	
> 0 and <= 1

	  	  
	
37

	
Current Payment Amount Due

	
Next Total Payment due to be collected (including principal, interest or both—but Exclude Escrow Amounts).

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
1250.15

	
9(10).99

	
Always

	
> 0

	  	  
	
38

	
Scheduled Interest Paid


Through Date

	  	
Loan Term and Amortization Type

	
Date

	
20090429

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
39

	
Current Payment Status

	
Number of payments the borrower is past due as of the securitization cut-off date.

	
Loan Term and Amortization Type

	
Numeric – Integer

	
3

	
99

	
Always

	
>= 0

	  	  
	
40

	
Index Type

	
Specifies the type of index to be used to determine the interest rate at each adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
18

	
99

	
ARMs Only

	
See Coding

	
See Appendix B

	  
	
41

	
ARM Look-back Days

	
The number of days prior to the interest rate adjustment date to retrieve the index value.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
45

	
99

	
ARMs Only

	
>= 0 to <=99

	  	  
	
42

	
Gross Margin

	
The percentage stated on the mortgage note representing the spread between the ARM Index value and the mortgage interest rate. The gross mortgage margin is added to the index value to establish a new gross interest rate in the manner prescribed on the mortgage note.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.03

	
9.999999

	
ARMs Only

	
>0 and <= 1

	  	  
	
43

	
ARM Round Flag

	
An indicator of whether an adjusted interest rate is rounded to the next higher ARM round factor, to the next lower round factor, or to the nearest round factor.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
3

	
9

	
ARMs Only

	
See Coding

	
0 = No Rounding


1 = Up


2 = Down


3 = Nearest


99=Unknown

	  
	
44

	
ARM Round Factor

	
The percentage to which an adjusted interest rate is to be rounded.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.0025 or 0.00125

	
9.999999

	
ARMs Only


Where ARM Round Flag = 1, 2, or 3

	
>= 0 and < 1

	  	  
	
45

	
Initial Fixed Rate Period

	
For hybrid ARMs, the period between the first payment date of the mortgage and the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
60

	
999

	
Hybrid ARMs Only

	
>= 1 to <=240

	  	  
	
46

	
Initial Interest Rate Cap (Change Up)

	
The maximum percentage by which the mortgage note rate may increase at the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	
99=no cap

	  
	
47

	
Initial Interest Rate  Cap (Change Down)

	
The maximum percentage by which the mortgage note rate may decrease at the first interest rate adjustment date.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	
99=no cap

	  
	
48

	
Subsequent Interest Rate Reset Period

	
The number of months between subsequent rate adjustments.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Integer

	
60

	
999

	
ARMs Only

	
>=0 and <= 120

	  	
0 = Loan does not adjust after initial reset


	
49

	
Subsequent Interest Rate (Change Down)

	
The maximum percentage by which the interest rate may decrease at each rate adjustment date after the initial adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	
99=no cap

	  
	
50

	
Subsequent Interest Rate Cap (Change Up)

	
The maximum percentage by which the interest rate may increase at each rate adjustment date after the initial adjustment.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.02

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	
99=no cap

	  
	
51

	
Lifetime Maximum Rate (Ceiling)

	
The maximum interest rate that can be in effect during the life of the loan.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.125

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	
=1 if no ceiling specified


	 
	 
	
52

	
Lifetime Minimum Rate (Floor)

	
The minimum interest rate that can be in effect during the life of the loan.

	
Adjustable Rate Mortgages (ARMs)

	
Numeric – Decimal

	
0.015

	
9.999999

	
ARMs Only

	
>= 0 and <= 1

	  	
If no floor is specified enter the greater of the margin or 0.


	
53

	
Negative Amortization Limit

	
The maximum amount of negative amortization allowed before recast is required. (Expressed as a percentage of the original unpaid principal balance.)

	
Negative Amortization

	
Numeric – Decimal

	
1.25

	
9.999999

	
Negatively Amortizing ARMs Only

	
>=0, and <2

	  	  
	
54

	
Initial Negative Amortization Recast Period

	
The number of months in which the payment is required to recast if the loan does not reach the prescribed maximum balance earlier.

	
Negative Amortization

	
Numeric – Integer

	
60

	
999

	
Negatively Amortizing ARMs Only

	
>=0

	  	  
	
55

	
Subsequent Negative Amortization Recast Period

	
The number of months after which the payment is required to recast AFTER the first recast period.

	
Negative Amortization

	
Numeric – Integer

	
48

	
999

	
Negatively Amortizing ARMs Only

	
>=0

	  	  
	
56

	
Initial Fixed Payment Period

	
Number of months after origination during which the payment is fixed.

	
Negative Amortization

	
Numeric – Integer

	
60

	
999

	
Negatively Amortizing Hybrid ARMs Only

	
>= 0 to <=120

	  	  
	
57

	
Subsequent Payment Reset Period

	
Number of months between payment adjustments after first payment reset.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
58

	
Initial Periodic Payment Cap

	
The maximum percentage by which a payment can change (increase or decrease) in the first period.

	
Negative Amortization

	
Numeric – Decimal

	
0.075

	
9.999999

	
Negatively Amortizing ARMs Only

	
>= 0 and < 1

	  	  
	
59

	
Subsequent Periodic Payment Cap

	
The maximum percentage by which a payment can change (increase or decrease) in one period after the initial cap.

	
Negative Amortization

	
Numeric – Decimal

	
0.075

	
9.999999

	
Negatively Amortizing ARMs Only

	
>= 0 and < 1

	  	  
	
60

	
Initial Minimum Payment Reset Period

	
The maximum number of months a borrower can initially pay the minimum payment before a new minimum payment is determined.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
61

	
Subsequent Minimum Payment Reset Period

	
The maximum number of months (after the initial period) a borrower can pay the minimum payment before a new minimum payment is determined after the initial period.

	
Negative Amortization

	
Numeric – Integer

	
12

	
999

	
Negatively Amortizing ARMs Only

	
>= 0 to <=120

	  	  
	
62

	
Option ARM Indicator

	
An indicator of whether the loan is an Option ARM.

	
Negative Amortization

	
Numeric – Integer

	
1

	
99

	
ARMs Only

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
63

	
Options at Recast

	
The means of computing the lowest monthly payment available to the borrower after recast.

	
Option ARM

	
Numeric – Integer

	
2

	
99

	
Option ARMs Only

	
N/A

	
1= Fully amortizing 30 year


2= Fully amortizing 15 year


3=Fully amortizing 40 year


4 = Interest-Only


5 = Minimum Payment


99= Unknown

	  
	
64

	
Initial Minimum Payment

	
The initial minimum payment the borrower is permitted to make.

	
Option ARM

	
Numeric – Decimal

	
879.52

	
99

	
Option ARMs Only

	
>=0

	  	  
	
65

	
Current Minimum Payment

	
Current Minimum Payment (in dollars).

	
Negative Amortization

	
Numeric – Decimal

	
250

	
9(10).99

	
Option ARMs Only

	
>= 0

	  	  
	
66

	
Prepayment Penalty Calculation

	
A description of how the prepayment penalty would be calculated during each phase of the prepayment penalty term.

	
Prepayment Penalties

	
Numeric – Integer

	
12

	
99

	
Always

	
See Coding

	
See Appendix C

	  
	
67

	
Prepayment Penalty Type

	
• Hard: The prepayment penalty is incurred regardless of the reason the loan is prepaid in full.


• Hybrid: The prepayment penalty can be characterized as hard for a certain amount of time and as soft during another period.


 

	
Prepayment Penalties

	
Numeric – Integer

	
1

	
99

	
All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)

	
See Coding

	
1 = Hard


2 = Soft


3 = Hybrid


99 = Unknown

	  
	
68

	
Prepayment Penalty Total Term

	
The total number of months that the prepayment penalty may be in effect.

	
Prepayment Penalties

	
Numeric – Integer

	
60

	
999

	
All loans with Prepayment Penalties (i.e., loans for which Field 66 = something other than “0”)

	
>0 to <=120

	  	  
	
69

	
Prepayment Penalty Hard Term

	
For hybrid prepayment penalties, the number of months during which a “hard” prepayment penalty applies.

	
Prepayment Penalties

	
Numeric – Integer

	
12

	
999

	
Loans with Hybrid Prepayment Penalties (i.e., loans for which Field 67 = “3”)

	
>= 0 to <=120

	  	  
	
70

	
Primary Borrower ID

	
A lender-generated ID number for the primary borrower on the mortgage

	
Borrower

	
Numeric—Integer

	
123456789

	
999999999

	
Always

	
>0

	  	
Used to identify the number of times a single borrower appears in a given deal.


	
71

	
Number of Mortgaged Properties

	
The number of residential properties owned by the borrower that currently secure mortgage loans.

	
Borrower

	
Numeric – Integer

	
1

	
99

	
Always

	
> 0

	  	  
	
72

	
Total Number of Borrowers

	
The number of Borrowers who are obligated to repay the mortgage note.

	
Borrower

	
Numeric – Integers

	
2

	
99

	
Always

	
> 0

	  	  
	
73

	
Self-employment Flag

	
An indicator of whether the primary borrower is self-employed.

	
Borrower

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
74

	
Current ‘Other’ Monthly Payment

	
The aggregate of all payments pertaining to the subject property other than principal and interest (includes common charges, condo fees, T&I, HOA, etc.), whether escrowed or not.

	
Loan Term and Amortization Type

	
Numeric – Decimal

	
1789.25

	
9(10).99

	
Always

	
> 0

	  	  
	
75

	
Length of Employment: Borrower

	
The number of years of service with the borrower’s current employer as of the date of the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
3.5

	
99.99

	
Always

	
>=0

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
76

	
Length of Employment: Co-Borrower

	
The number of years of service with the co-borrower’s current employer as of the date of the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
3.5

	
99.99

	
If “Total Number of Borrowers” > 1

	
>= 0

	
99 = Retired, None employment income soure (social security, trust income, dividends, etc.)

	  
	
77

	
Years in Home

	
Length of time that the borrower has been at current address.

	
Borrower Qualification

	
Numeric – Decimal

	
14.5

	
99.99

	
Refinances of Primary Residences Only (Loan Purpose = 1, 2, 3, 4, 8 or 9)

	
> 0

	  	  
	
78

	
FICO Model Used

	
Indicates whether the FICO score was calculated using the Classic, Classic 08, or Next Generation model.

	
Borrower Qualification

	
Numeric – Integer

	
1

	
99

	
If a FICO score was obtained

	
See Coding

	
1 = Classic


2 = Classic 08


3 = Next Generation


99 = Unknown

	  
	
79

	
Most Recent FICO Date

	
Specifies the date on which the most recent FICO score was obtained

	
Borrower Qualification

	
Date

	
20090914

	
YYYYMMDD

	
If a FICO score was obtained

	
“19010101” if unknown

	  	
Issuers unable to Provide may Rep and Warrant that the FICO score used for underwriting was not more than 4 months old at the date of issuance.


	
80

	
Primary Wage Earner Original FICO:  Equifax

	
Equifax FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
81

	
Primary Wage Earner Original FICO:  Experian

	
Experian FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
82

	
Primary Wage Earner Original FICO:  TransUnion

	
TransUnion FICO score for primary borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
83

	
Secondary Wage Earner Original FICO:  Equifax

	
Equifax FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
84

	
Secondary Wage Earner Original FICO:  Experian

	
Experian FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
85

	
Secondary Wage Earner Original FICO: TransUnion

	
TransUnion FICO score for Co-borrower (if applicable).

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
86

	
Most Recent Primary Borrower FICO

	
Most Recent Primary Borrower FICO score used by the lender to approve the loan.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a FICO score was obtained

	
>= 350 and <= 850

	  	  
	
87

	
Most Recent Co-Borrower FICO

	
Most Recent Co-Borrower FICO score used by the lender to approve the loan.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If “Total Number of Borrowers” > 1

	
>= 350 and <= 850

	  	  
	
88

	
Most Recent FICO Method

	
Number of credit repositories used to update the FICO Score.

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If a FICO score was obtained

	
>0

	  	  
	
89

	
VantageScore: Primary Borrower

	
Credit Score for the Primary Borrower used to approve the loan and obtained using the Vantage credit evaluation model.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a Vantage Credit Score was obtained

	
>= 501 and <= 990

	  	  
	
90

	
VantageScore: Co-Borrower

	
Credit Score for the Co-borrower used to approve the loan and obtained using the Vantage credit evaluation model.

	
Borrower Qualification

	
Numeric – Integer

	
720

	
9999

	
If a VantageScore was obtained AND “Total Number of Borrowers” > 1

	
>= 501 and <= 990

	  	  
	
91

	
Most Recent VantageScore Method

	
Number of credit repositories used to update the Vantage Score.

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If a Vantage Credit Score was obtained

	
>0

	  	  
	
92

	
VantageScore Date

	
Date Vantage Credit Score was obtained.

	
Borrower Qualification

	
Date

	
20090914

	
YYYYMMDD

	
If a Vantage Credit Score was obtained

	
“19010101” if unknown

	  	  
	
93

	
Credit Report: Longest Trade Line

	
The length of time in months that the oldest active trade line, installment or revolving, has been outstanding. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Integer

	
999

	
999

	
Always

	
> =0

	  	
Subject to Regulatory Confirmation


	
94

	
Credit Report: Maximum Trade Line

	
The dollar amount for the trade line, installment or revolving, with the largest unpaid balance. For revolving lines of credit, e.g. credit card, the dollar amount reported should reflect the maximum amount of credit available under the credit line whether used or not. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Decimal

	
339420.19

	
9(10).99

	
Always

	
>=0

	  	
Subject to Regulatory Confirmation


	
95

	
Credit Report: Number of Trade Lines

	
A count of non-derogatory, currently open and active, consumer trade lines (installment or revolving) for the borrower. For a loan with more than one borrower, populate field based on status for the primary borrower.

	
Borrower Qualification

	
Numeric – Integer

	
57

	
999

	
Always

	
>=0

	  	
Subject to Regulatory Confirmation


	
96

	
Credit Line Usage Ratio

	
Sum of credit balances divided by sum of total open credit available.

	
Borrower Qualification

	
Numeric – Decimal

	
0.27

	
9.999999

	
Always

	
>= 0 and <= 1

	  	
Subject to Regulatory Confirmation


	
97

	
Most Recent 12-month Pay History

	
String indicating the payment status per month listed from oldest to most recent.

	
Borrower Qualification

	
Text

	
77X123200001

	
X(12)

	
Always

	
See Coding

	
0 = Current


1 = 30-59 days delinquent


2 = 60-89 days delinquent


3 = 90-119 days delinquent


4 = 120+ days delinquent


5 = Foreclosure


6 = REO


7 = Loan did not exist in period


X = Unavailable

	  
	
98

	
Months Bankruptcy

	
Number of months since any borrower was discharged from bankruptcy. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program—have passed since most recent discharge from bankruptcy.)

	
Borrower Qualification

	
Numeric – Integer

	
12

	
999

	
If Borrower has ever been in Bankruptcy

	
>= 0

	  	
Blank = Borrower is not known to have been in bankruptcy


	
99

	
Months Foreclosure

	
Number of months since foreclosure sale date. (Issuers unable to provide this information may rep and warrant that at least x years—as specified in the loan program— have passed since most recent foreclosure.)

	
Borrower Qualification

	
Numeric – Integer

	
12

	
999

	
If Borrower has ever been in Foreclosure

	
>= 0

	  	
Blank = Borrower is not known to have been in foreclosure


	
100

	
Primary Borrower Wage Income

	
Monthly base wage income for primary borrower.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
101

	
Co-Borrower Wage Income

	
Monthly base wage income for all other borrowers.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
If “Total Number of Borrowers” > 1

	
>= 0

	  	  
	
102

	
Primary Borrower Other Income

	
Monthly Other (non-wage) income for primary borrower. (This figure should include net rental income and be reduced by any net rental loss.)

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
103

	
Co-Borrower Other Income

	
Monthly Other (non-wage) income for all other borrowers. (This figure should include net rental income and be reduced by any net rental loss.)

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
If “Total Number of Borrowers” > 1

	
>= 0

	  	  
	
104

	
All Borrower Wage Income

	
Monthly income of all borrowers derived from base salary only.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
105

	
All Borrower Total Income

	
Monthly income of all borrowers derived from base salary, commission, tips and gratuities, overtime and bonuses, part-time or second-job earnings, alimony, child support, interest and dividend income, notes receivable, trust income, net rental income, retirement income, social security, veterans income, military income, foster care income, and self-employed income.

	
Borrower Qualification

	
Numeric – Decimal

	
9000

	
9(9).99

	
Always

	
>= 0

	  	  
	
106

	
4506-T Indicator

	
A yes/no indicator of whether a Transcript of Tax Return (received pursuant to the filing of IRS Form 4506-T) was obtained and considered.

	
Borrower Qualification

	
Numeric – Integer

	
1

	
99

	
Always

	
See Coding

	
0 = No


1 = Yes


99 = Unknown

	  
	
107

	
Borrower Income Verification Level

	
A code indicating the extent to which the borrower’s income has been verified:


Level 4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)


Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)


*For self-employed borrowers:  Level 4 Income Verification:


• 2 Years Tax Returns


• Self-prepared tax returns (regardless of 4506 and tax transcripts)


 


** For self-employed borrowers: Level 5 Income Verification:


• 2 Years tax returns


• Tax returns prepared and not executed by a CPA, with


          o CPA name & phone number shown on the Preparer section of the tax return


          o Executed 4506 and tax transcripts (matching returns in file)


• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
Borrower Qualification

	
Numeric – Integer

	
1

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, “Partially” Verified


4 = Stated, “Level 4” Verified  (as defined)


5 = Stated, “Level 5” Verified  (as defined)


 

	  
	
108

	
Co-Borrower Income Verification

	
A code indicating the extent to which the co-borrower’s income has been verified:


 


Level 4 Income Verification = [W-2 (Prev. Yr.) OR TAX RETURNS* (Prev. Yr.)] AND PAY STUBS (YTD (at least one month)–if salaried)


 


Level 5 Income Verification = 24 months income verification (W-2s, pay stubs, bank statements and/or tax returns**)


*For self-employed borrowers:  Level 4 Income Verification:


• 2 Years Tax Returns


• Self-prepared tax returns (regardless of 4506 and tax transcripts)


 


** For self-employed borrowers: Level 5 Income Verification:


• 2 Years tax returns


• Tax returns prepared and not executed by a CPA, with


          o CPA name & phone number shown on the Preparer section of the tax return


          o Executed 4506 and tax transcripts (matching returns in file)


• Tax returns prepared and executed by a CPA  (regardless of 4506 and tax transcripts)

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, “Partially” Verified


4 = Stated, “Level 4” Verified  (as defined)


5 = Stated, “Level 5” Verified  (as defined)


 

	  
	
109

	
Borrower Employment Verification

	
A code indicating the extent to which the primary borrower’s employment has been verified:


 


Level 3 Verified = Direct Independent Verification with a third party of the borrower’s current employment.

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, Level 3 Verified (as defined)

	  
	
110

	
Co-Borrower Employment Verification

	
A code indicating the extent to which the co-borrower’s employment has been verified:


 


Level 3 Verified = Direct Independent Verification with a third party of the co-borrower’s current employment.

	
Borrower Qualification

	
Numeric – Integer

	
1

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, Level 3 Verified (as defined)

	  
	
111

	
Borrower Asset Verification

	
A code indicating the extent to which the primary borrower’s assets used to qualify the loan have been verified:


 


Level 4 Verified = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).


 

	
Borrower Qualification

	
Numeric – Integer

	
3

	
9

	
Always

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, “Partially” Verified


4 = Stated, Level 4 Verified  (as defined)

	  
	
112

	
Co-Borrower Asset Verification

	
A code indicating the extent to which the co-borrower’s assets used to qualify the loan have been verified:


 


Level 4 = 2 months of bank statements/balance documentation (written or electronic) for liquid assets (or gift letter).


 

	
Borrower Qualification

	
Numeric – Integer

	
2

	
9

	
If “Total Number of Borrowers” > 1

	
See Coding

	
1 = Not Stated, Not Verified


2 = Stated, Not Verified


3 = Stated, “Partially” Verified


4 = Stated, Level 4 Verified  (as defined)

	  
	
113

	
Liquid / Cash Reserves

	
The actual dollar amount of remaining verified liquid assets after settlement. (This should not include cash out amount of subject loan.)

	
Borrower Qualification

	
Numeric – Decimal

	
3242.76

	
9(9).99

	
Always

	
>= 0

	  	  
	
114

	
Monthly Debt All Borrowers

	
The aggregate monthly payment due on other debt (excluding only installment loans with fewer than 10 payments remaining and other real estate loans used to compute net rental income— which is added/subtracted in the income fields).

	
Borrower Qualification

	
Numeric – Decimal

	
3472.43

	
9(9).99

	
Always

	
>= 0

	  	  
	
115

	
Originator DTI

	
Total Debt to income ratio used by the originator to qualify the loan.

	
Borrower Qualification

	
Numeric – Decimal

	
0.35

	
9.999999

	
Always

	
>= 0 and >= 1

	  	  
	
116

	
Fully Indexed Rate

	
The fully indexed interest rate as of securitization cut-off.

	
Borrower Qualification

	
Numeric – Decimal

	
0.0975

	
9.999999

	
ARMs Only

	
>= 0 and >= 1

	  	  
	
117

	
Qualification Method

	
Type of mortgage payment used to qualify the borrower for the loan.

	
Borrower Qualification

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
1 = Start Rate


2 = First Year Cap Rate


3 = I/O Amount


4 = Fully Indexed


5 = Min Payment


98 = Other


99 = Unknown

	  
	
118

	
Percentage of Down Payment from Borrower Own Funds

	
Include only borrower funds, do not include any gift or borrowed funds. (Issuers may provide the actual percentage for each loan, or the guideline percentage and note departure concentration on the transaction summary.)

	
Borrower Qualification

	
Numeric – Decimal

	
0.5

	
9.999999

	
Purchase Loans Only

	
>= 0 and >= 1

	  	  
	
119

	
City

	
The name of the city.

	
Subject Property

	
Text

	
New York

	
X(45)

	
Always

	
Unk=Unknown

	  	  
	
120

	
State

	
The name of the state as a 2-digit Abbreviation.

	
Subject Property

	
Text

	
NY

	
XX

	
Always

	
See Coding

	
See Appendix H

	  
	
121

	
Postal Code

	
The postal code (zip code in the US) where the subject property is located.

	
Subject Property

	
Text

	
10022

	
X(5)

	
Always

	
Unk=Unknown

	  	  
	
122

	
Property Type

	
Specifies the type of property being used to secure the loan.

	
Subject Property

	
Numeric – Integer

	
11

	
99

	
Always

	
See Coding

	
See Appendix D

	  
	
123

	
Occupancy

	
Specifies the property occupancy status (e.g., owner-occupied, investment property, second home, etc.).

	
Subject Property

	
Numeric – Integer

	
4

	
9

	
Always

	
See Coding

	
See Appendix E

	  
	
124

	
Sales Price

	
The negotiated price of a given property between the buyer and seller.

	
Subject Property

	
Numeric – Decimal

	
450000.23

	
9(10).99

	
Purchase Loans Only

	
> 0

	  	  
	
125

	
Original Appraised Property Value

	
The appraised value of the property used to approve the loan.

	
Subject Property

	
Numeric – Decimal

	
550000.23

	
9(10).99

	
Always

	
> 0

	  	  
	
126

	
Original Property Valuation Type

	
Specifies the method by which the property value (at the time of underwriting) was reported.

	
Subject Property

	
Numeric – Integer

	
8

	
99

	
Always

	
See Coding

	
See Appendix F

	  
	
127

	
Original Property Valuation Date

	
Specifies the date on which the original property value (at the time of underwriting) was reported. (Issuers unable to provide may Rep and Warrant that the appraisal used for underwriting was not more than x days old at time of loan closing.)

	
Subject Property

	
Date

	
20090914

	
YYYYMMDD

	
Always

	
“19010101” if unknown

	  	  
	
128

	
Original Automated Valuation Model (AVM) Model Name

	
The name of the AVM Vendor if an AVM was used to determine the original property valuation.

	
Subject Property

	
Numeric – Integer

	
1

	
99

	
Always

	
See Appendix I

	
See Appendix I

	  
	
129

	
Original AVM Confidence Score

	
The confidence range presented on the AVM report.

	
Subject Property

	
Numeric – Decimal

	
0.74

	
9.999999

	
If AVM Model Name (Field 127) > 0

	
>= 0 to <= 1

	  	  
	
130

	
Most Recent Property Value[1]

	
If a valuation was obtained subsequent to the valuation used to calculate LTV, the most recent property value.

	
Subject Property

	
Numeric – Decimal

	
500000

	
9(10).99

	
If updated value was obtained subsequent to loan approval

	
> 0

	  	  
	
131

	
Most Recent Property Valuation Type

	
If an additional property valuation was obtained after the valuation used for underwriting purposes, the method by which the property value was reported.

	
Subject Property

	
Numeric – Integer

	
6

	
9

	
If updated value was obtained subsequent to loan approval

	
See Coding

	
See Appendix F

	  
	
132

	
Most Recent Property Valuation Date

	
Specifies the date on which the updated property value was reported.

	
Subject Property

	
Date

	
20090914

	
YYYYMMDD

	
If updated value was obtained subsequent to loan approval

	
“19010101” if unknown

	  	  
	
133

	
Most Recent AVM Model Name

	
The name of the AVM Vendor if an AVM was used to determine the updated property valuation.

	
Subject Property

	
Numeric – Integer

	
19

	
99

	
If updated value was obtained subsequent to loan approval

	
See Coding

	
See Appendix I

	  
	
134

	
Most Recent AVM Confidence Score

	
If AVM used to determine the updated property valuation, the confidence range presented on the AVM report.

	
Subject Property

	
Numeric – Decimal

	
0.85

	
9.999999

	
If “Most Recent AVM Model Name” > 0

	
>= 0 to <= 1

	  	  
	
135

	
Original CLTV

	
The ratio obtained by dividing the amount of all known outstanding mortgage liens on a property at origination by the lesser of the appraised value or the sales price.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
0.96

	
9.999999

	
Always

	
>= 0 and <= 1.5

	  	  
	
136

	
Original LTV

	
The ratio obtained by dividing the original mortgage loan amount on the note date by the lesser of the mortgaged property’s appraised value on the note date or its purchase price.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
0.8

	
9.999999

	
Always

	
>= 0 and <= 1.25

	  	  
	
137

	
Original Pledged Assets

	
The total value of assets pledged as collateral for the loan at the time of origination. Pledged assets may include cash or marketable securities.

	
Loan-to-Value (LTV)

	
Numeric – Decimal

	
75000

	
9(10).99

	
Always

	
>=0

	  	  
	
138

	
Mortgage Insurance Company Name

	
The name of the entity providing mortgage insurance for a loan.

	
Mortgage Insurance

	
Numeric – Integer

	
3

	
99

	
Always

	
See Coding

	
See Appendix G

	  
	
139

	
Mortgage Insurance Percent

	
Mortgage Insurance coverage percentage.

	
Mortgage Insurance

	
Numeric – Decimal

	
0.25

	
9.999999

	
“Mortgage Insurance Company Name” > 0

	
>= 0 to <= 1

	  	  
	
140

	
MI: Lender or Borrower Paid?

	
An indicator of whether mortgage insurance is paid by the borrower or the lender.

	
Mortgage Insurance

	
Numeric – Integer

	
1

	
99

	
“Mortgage Insurance Company Name” > 0

	
See Coding

	
1 = Borrower-Paid


2 = Lender- Paid


99 = Unknown

	  
	
141

	
Pool Insurance Co. Name

	
Name of pool insurance provider.

	
Mortgage Insurance

	
Numeric – Integer

	
8

	
99

	
Always

	
See Coding

	
See Appendix G

	  
	
142

	
Pool Insurance Stop Loss %

	
The aggregate amount that a pool insurer will pay, calculated as a percentage of the pool balance.

	
Mortgage Insurance

	
Numeric – Decimal

	
0.25

	
9.999999

	
Pool MI Company > 0

	
>= 0 to <= 1

	  	  
	
143

	
MI Certificate Number

	
The unique number assigned to each individual loan insured under an MI policy.

	
Mortgage Insurance

	
Text

	
123456789G

	
X(20)

	
MI Company


> 0

	
UNK = Unknown

	  	  
	
144

	
Updated DTI


(Front-end)

	
Updated front-end DTI ratio (total monthly housing expense divided by total monthly income) used to qualify the loan modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.35

	
9.999999

	
Modified Loans Only

	
>= 0 and >= 1

	  	  
	
145

	
Updated DTI


(Back-end)

	
Updated back-end DTI ratio (total monthly debt expense divided by total monthly income) used to qualify the loan modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.35

	
9.999999

	
Modified Loans Only

	
>= 0 and >= 1

	  	  
	
146

	
Modification Effective Payment Date

	
Date of first payment due post modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Date

	
20090914

	
YYYYMMDD

	
Modified Loans Only

	
“19010101” if unknown

	  	  
	
147

	
Total Capitalized Amount

	
Amount added to the principal balance of a loan due to the modification.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
148

	
Total Deferred Amount

	
Any non-interest-bearing deferred amount (e.g., principal, interest and fees).

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
149

	
Pre-Modification Interest (Note) Rate

	
Scheduled Interest Rate Of The Loan Immediately Preceding The Modification Effective Payment Date.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.075

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
150

	
Pre-Modification P&I Payment

	
Scheduled Total Principal And Interest Payment Amount Preceding The Modification Effective Payment Date – or if servicer is no longer advancing P&I, the payment that would be in effect if the loan were current.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
2310.57

	
9(10).99

	
Modified Loans Only

	
> 0

	  	  
	
151

	
Pre-Modification Initial Interest Rate Change Downward Cap

	
Maximum amount the rate can adjust downward on the first interest rate adjustment date (prior to modification) – Only provide if the rate floor is modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.015

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
152

	
Pre-Modification Subsequent Interest Rate Cap

	
Maximum increment the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
0.015

	
9.999999

	
Modified Loans Only

	
>= 0 to <= 1

	  	  
	
153

	
Pre-Modification Next Interest Rate Change Date

	
Next Interest Reset Date Under The Original Terms Of The Loan (one month prior to new payment due date).

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Date

	
20090914

	
YYYYMMDD

	
Modified Loans Only

	
“19010101” if unknown

	  	  
	
154

	
Pre-Modification I/O Term

	
Interest Only Term (in months) preceding The Modification Effective Payment Date.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Integer

	
36

	
999

	
Modified Loans Only

	
>= 0 to <= 120

	  	  
	
155

	
Forgiven Principal Amount

	
The sum total of all principal balance reductions (as a result of loan modification) over the life of the loan.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
156

	
Forgiven Interest Amount

	
The sum total of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Decimal

	
12000

	
9(10).99

	
Modified Loans Only

	
>= 0

	  	  
	
157

	
Number of Modifications

	
The number of times the loan has been modified.

	
Loan Modifications (Pertains only to loans modified for loss mitigation purposes)

	
Numeric – Integer

	
1

	
9

	
Modified Loans Only

	
>= 0

	  	  
	
MH-1

	
Real Estate Interest

	
Indicates whether the property on which the manufactured home is situated is owned outright or subject to the terms of a short- or long-term lease. (A long-term lease is defined as a lease whose term is greater than or equal to the loan term.)

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Coding

	
1 = Owned


2 = Short-term lease


3 = Long-term lease


99 = Unavailable

	  
	
MH-2

	
Community Ownership Structure

	
If the manufactured home is situated in a community, a means of classifying ownership of the community.

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Coding

	
1 = Public Institutional


2 = Public Non-Institutional


3 = Private Institutional


4 = Private Non-Institutional


5 = HOA-Owned


6 = Non-Community


99 = Unavailable

	  
	
MH-3

	
Year of Manufacture

	
The year in which the home was manufactured (Model Year — YYYY Format). Required only in cases where a full appraisal is not provided.

	
Manufactured Housing

	
Numeric – Integer

	
2006

	
YYYY

	
Manufactured Housing Loans Only

	
1901 = Unavailable

	  	  
	
MH-4

	
HUD Code Compliance  Indicator (Y/N)

	
Indicates whether the home was constructed in accordance with the 1976 HUD code. In general, homes manufactured after 1976 comply with this code.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
9

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No


1 = Yes


99 = Unavailable

	  
	
MH-5

	
Gross Manufacturer’s Invoice Price

	
The total amount that appears on the manufacturer’s invoice (typically includes intangible costs such as transportation, association, on-site setup, service and warranty costs, taxes, dealer incentives, and other fees).

	
Manufactured Housing

	
Numeric – Decimal

	
72570.62

	
9(10).99

	
Manufactured Housing Loans Only

	
>= 0

	  	  
	
MH-6

	
LTI (Loan-to-Invoice) Gross

	
The ratio of the loan amount divided by the Gross Manufacturer’s Invoice Price (Field MH-5).

	
Manufactured Housing

	
Numeric – Decimal

	
0.75

	
9.999999

	
Manufactured Housing Loans Only

	
>= 0 to <= 1

	  	  
	
MH-7

	
Net Manufacturer’s Invoice Price

	
The Gross Manufacturer’s Invoice Price (Field MH-5) minus intangible costs, including: transportation, association, on-site setup, service, and warranty costs, taxes, dealer incentives, and other fees.

	
Manufactured Housing

	
Numeric – Decimal

	
61570.62

	
9(10).99

	
Manufactured Housing Loans Only

	
>= 0

	  	  
	
MH-8

	
LTI (Net)

	
The ratio of the loan amount divided by the Net Manufacturer’s Invoice Price (Field MH-7).

	
Manufactured Housing

	
Numeric – Decimal

	
0.62

	
9.999999

	
Manufactured Housing Loans Only

	
>= 0 to <= 1

	  	  
	
MH-9

	
Manufacturer Name

	
The manufacturer of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is available.)

	
Manufactured Housing

	
Text

	
“XYZ Corp”

	
Char (100)

	
Manufactured Housing Loans Only (where no appraised value is provided)

	
MH Manufacturer name in double quotation marks

	  	  
	
MH-10

	
Model Name

	
The model name of the subject property. (To be applied only in cases where no appraised value/other type of property valuation is available.)

	
Manufactured Housing

	
Text

	
“DX5-916-X”

	
Char (100)

	
Manufactured Housing Loans Only (where no appraised value is provided)

	
MH Model name in double quotation marks

	  	  
	
MH-11

	
Down Payment Source

	
An indicator of the source of the down payment used by the borrower to acquire the property and qualify for the mortgage.

	
Manufactured Housing

	
Numeric – Integer

	
2

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
1 = Cash


2 = Proceeds from trade in


3 = Land in Lieu


4 = Other


99 = Unavailable

	  
	
MH-12

	
Community/Related Party Lender (Y/N)

	
An indicator of whether the loan was made by the community owner, an affiliate of the community owner or the owner of the real estate upon which the collateral is located.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No


1 = Yes


99 = Unavailable

	  
	
MH-13

	
Defined Underwriting Criteria (Y/N)

	
An indicator of whether the loan was made in accordance with a defined and/or standardized set of underwriting criteria.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = No


1 = Yes


99 = Unavailable

	  
	
MH-14

	
Chattel Indicator

	
An Indicator of whether the secured property is classified as chattel or Real Estate.

	
Manufactured Housing

	
Numeric – Integer

	
1

	
99

	
Manufactured Housing Loans Only

	
See Codes

	
0 = Real Estate


1 = Chattel


99 = Unavailable

	  









 






    	 



    	 	



    
 


  




 


ATTACHMENT 2


 


SALE AND SERVICING AGREEMENT


 



    	 



    	 



    

 


EXHIBIT D-3


 


INITIAL AUTHORIZED REPRESENTATIVES
OF THE SERVICER


 


	Name	 	Title	 	Specimen Signature
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 


  



    	 



    	 



    

 


EXHIBIT F


 


REQUEST FOR RELEASE OF DOCUMENTS


 


	To:	Wells Fargo Bank, N.A.	Date:  _______________
	 	751 Kasota Avenue	 
	 	Minneapolis, MN  55414	 
	 	Attn:  WFDC Release Department.	 


 


		Re:	Custodial Agreement, dated as of January 1, 2013,
among Christiana Trust, a division of Wilmington Savings Fund Society, FSB, as Trustee, Wells Fargo Bank, N.A., as Custodian,
Sequoia Residential Funding, Inc., as Depositor, and Redwood Residential Acquisition Corporation, as Seller



 


In connection with the administration
of the Mortgage Loans held by you as Custodian for the Trustee pursuant to the above-captioned Custodial Agreement, we request
the release of the Custodian’s Mortgage File for the Mortgage Loan described below, for the reason indicated.


 


	Mortgage Loan Number:	 	Investor Number:
	 	 	 
	Mortgagor Name, Address & Zip Code:	 	Pool Number:


 


Reason for Requesting Documents (check one):


 


	_______ 1. Mortgage Paid in Full	 
	 	 
	_______ 2. Foreclosure	 
	 	 
	_______ 3.  Substitution	 
	 	 
	_______  4. Other Liquidation	 
	 	 
	_______ 5. Non-liquidation	Reason:__________________
	 	 
	 	For CMI Use Only:_____________


 


	By:	 	 
	 	(Authorized Signature)	 


 


	Printed Name	 	 
	 	 	 
	Servicer Name:	 	 
	 	 	 
	Ship To Address:	 	 
	 	 	 
	 	 	 


 



    	 



    	 



    

 


	Phone:	 	 	 


 


Custodian


 


Please acknowledge the execution of the above request by
your signature and date below:


 


	 	 	Date
	Signature	 	 
	 	 	 
	Documents returned to Custodian:	 	 
	 	 	 
	 	 	Date
	Custodian	 	 


  



    	 



    	 



    

 


EXHIBIT 10


 


FORM OF MONTHLY LOSS REPORT





 



    	 



    	 



    

 





Exhibit
: Calculation of Realized Loss/Gain Form 332– Instruction Sheet




NOTE: Do not net or combine items. Show all expenses individually
and all credits as separate line items. Claim packages are due on the remittance report date. Late submissions may result in claims
not being passed until the following month. The Servicer is responsible to remit all funds pending loss approval and /or resolution
of any disputed items. 


 


The numbers on the 332 form correspond with
the numbers listed below.


 


Liquidation and Acquisition Expenses:


		1.	The Actual Unpaid Principal Balance of the Mortgage
Loan. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest and servicing
fees advanced is required.



 


		2.	The Total Interest Due less the aggregate amount of
servicing fee that would have been earned if all delinquent payments had been made as agreed. For documentation, an Amortization
Schedule from date of default through liquidation breaking out the net interest and servicing fees advanced is required.



		3.	Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated
on a monthly basis. For documentation, an Amortization Schedule from date of default through liquidation breaking out the net interest
and servicing fees advanced is required.



		4-12.	Complete as applicable. Required documentation:



* For taxes
and insurance advances – see page 2 of 332 form - breakdown required showing period of coverage, base tax, interest, penalty.
Advances prior to default require evidence of servicer efforts to recover advances.


* For escrow
advances - complete payment history


   (to calculate
advances from last positive escrow balance forward)


* Other expenses
-  copies of corporate advance history showing all payments


* REO repairs
> $1500 require explanation


* REO repairs
>$3000 require evidence of at least 2 bids.


* Short Sale
or Charge Off require P&L supporting the decision and WFB’s approved Officer Certificate


* Unusual
or extraordinary items may require further documentation.


		13.	The total of lines 1 through 12.



 Credits:


 


		14-21.	Complete as applicable. Required documentation:



* Copy of
the HUD 1 from the REO sale. If a 3rd Party Sale, bid instructions and Escrow Agent / Attorney


   Letter of
Proceeds Breakdown.


* Copy of
EOB for any MI or gov't guarantee


* All other
credits need to be clearly defined on the 332 form            


		22.	The total of lines 14 through 21.



 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 1 of 5



    	 



    

 


		Please Note:	For
                                                                                              HUD/VA loans, use line (18a) for
                                                                                              Part A/Initial proceeds and line
                                                                                              (18b) for Part B/Supplemental proceeds.



 


Total Realized Loss (or Amount
of Any Gain)


		23.	The total derived from
subtracting line 22 from 13. If the amount represents a realized gain, show the amount in parenthesis ( ).
	 	 	 



  


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 2 of 5



    	 



    

 


	Exhibit 3A: Calculation of Realized Loss/Gain
    Form 332


 


	Prepared by: ________________	Date: ___________________
	Phone: ____________________	Email Address: ____________





	
        Servicer Loan No.

         
	 	
        Servicer Name

         
	 	
        Servicer Address

         

         



 


WELLS FARGO BANK, N.A. Loan No._____________________________


 


Borrower's Name: ________________________________________________________


Property Address: _________________________________________________________


 


	Liquidation Type:  REO Sale	3rd Party Sale	Short Sale	Charge Off


 


	Was this loan granted a Bankruptcy deficiency or cramdown	Yes	No


If “Yes”, provide deficiency
or cramdown amount _______________________________


 


	Liquidation and Acquisition Expenses:	 	 	 	 
	 	 	 	 	 	 	 
	(1)	 	Actual Unpaid Principal Balance of Mortgage Loan	 	$	 	 
	 	 	(1)	 	 	 	 
	(2)	 	Interest accrued at Net Rate	 	 	 	 
	 	 	(2)	 	 	 	 
	(3)	 	Accrued Servicing Fees	 	 	 	 
	 	 	(3)	 	 	 	 
	(4)	 	Attorney's Fees	 	 	 	 
	 	 	(4)	 	 	 	 
	(5)	 	Taxes (see page 2)	 	 	 	 
	 	 	(5)	 	 	 	 
	(6)	 	Property Maintenance	 	 	 	 
	 	 	(6)	 	 	 	 
	(7)	 	MI/Hazard Insurance Premiums (see page 2)	 	 	 	 
	 	 	(7)	 	 	 	 
	(8)	 	Utility Expenses	 	 	 	 
	 	 	(8)	 	 	 	 
	(9)	 	Appraisal/BPO	 	 	 	 
	 	 	(9)	 	 	 	 
	(10)	 	Property Inspections	 	 	 	 
	 	 	(10)	 	 	 	 
	(11)	 	FC Costs/Other Legal Expenses	 	 	 	 
	 	 	(11)	 	 	 	 
	(12)	 	Other (itemize)	 	 	 	 
	 	 	(12)	 	 	 	 


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 3 of 5



    	 



    

 


	 	 	Cash for Keys__________________________	 	 	 	 
	 	 	(12)	 	 	 	 
	 	 	HOA/Condo Fees_______________________	 	 	 	 
	 	 	(12)	 	 	 	 
	 	 	______________________________________	 	 	 	 
	 	 	(12)	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Total Expenses	 	$	 	 
	 	 	(13)	 	 	 	 
	Credits:	 	 	 	 
	(14)	 	Escrow Balance	 	$	 	 
	 	 	(14)	 	 	 	 
	(15)	 	HIP Refund	 	 	 	 
	 	 	(15)	 	 	 	 
	(16)	 	Rental Receipts	 		 	 
	 	 	(16)	 	 	 	 
	(17)	 	Hazard Loss Proceeds	 	 	 	 
	 	 	(17)	 	 	 	 
	(18)	 	Primary Mortgage Insurance / Gov’t Insurance	 	 	 	 
	 	 	(18a) HUD Part A	 	 	 	 
	 	 	 	 	 	 	 
	(18b)	 	HUD Part B	 	 	 	 
	(19)	 	Pool Insurance Proceeds	 	 	 	 
	 	 	(19)	 	 	 	 
	(20)	 	Proceeds from Sale of Acquired Property	 	 	 	 
	 	 	(20)	 	 	 	 
	(21)	 	Other (itemize)	 	 	 	 
	 	 	(21)	 	 	 	 
	 	 	_________________________________________	 	 	 	 
	 	 	(21)	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Total Credits	 	$	 	 
	 	 	(22)	 	 	 	 
	Total Realized Loss (or Amount of Gain)	 	$	 	 
	 	 	(23)	 	 	 	 


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 4 of 5



    	 



    

 


Escrow Disbursement Detail


 


	
        Type

        (Tax 

/Ins.)
	Date Paid	Period of

 Coverage	Total Paid	Base

 Amount	Penalties	Interest
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 
	



 	 	 	 	 	 	 


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


  



    	Page 5 of 5



    	 



    

 


EXHIBIT 11


 


FORM OF DELINQUENCY REPORTING


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


  



    	Page 1 of 7



    	 



    

Exhibit
: Standard File Layout – Delinquency Reporting


 


*The column/header names in bold
are the minimum fields Wells Fargo must receive from every Servicer


	Column/Header
    Name	Description	Decimal	Format
    

    Comment
	SERVICER_LOAN_NBR	A
        unique number assigned to a loan by the Servicer.

        This may be different than the LOAN_NBR

         
	 	 
	LOAN_NBR	A
        unique identifier assigned to each loan by the 

        originator.

         
	 	 
	CLIENT_NBR	Servicer
        Client Number

         
	 	 
	SERV_INVESTOR_NBR	Contains
        a unique number as assigned by an

        external
        servicer to identify a group of loans in

        their system.

         
	 	 
	BORROWER_FIRST_NAME	First
        Name of the Borrower.

         
	 	 
	BORROWER_LAST_NAME	Last
        name of the borrower.

         
	 	 
	PROP_ADDRESS	Street
        Name and Number of Property

         
	 	 
	PROP_STATE	The
        state where the property located.

         
	 	 
	PROP_ZIP	Zip
        code where the property is located.

         
	 	 
	BORR_NEXT_PAY_DUE_DATE	The
        date that the borrower's next payment is due

        to the servicer at the end of processing cycle, as

        reported by Servicer.

         
	 	MM/DD/YYYY
	LOAN_TYPE	Loan
        Type (i.e. FHA, VA, Conv)

         
	 	 
	BANKRUPTCY_FILED_DATE	The
        date a particular bankruptcy claim was filed.

         
	 	MM/DD/YYYY
	BANKRUPTCY_CHAPTER_CODE	The
        chapter under which the

        bankruptcy was filed.

         
	 	 
	BANKRUPTCY_CASE_NBR	The
        case number assigned by the court to the

        bankruptcy filing.

         
	 	 
	POST_PETITION_DUE_DATE	The
        payment due date once the bankruptcy has

        been approved by the courts

         
	 	MM/DD/YYYY
	BANKRUPTCY_DCHRG_DISM_DATE	The
        Date The Loan Is Removed From Bankruptcy.

        Either by Dismissal, Discharged and/or a Motion For

        Relief Was Granted.

         
	 	MM/DD/YYYY
	LOSS_MIT_APPR_DATE	The
        Date The Loss Mitigation Was Approved By The

        Servicer

         
	 	MM/DD/YYYY
	LOSS_MIT_TYPE	The
        Type Of Loss Mitigation Approved For A Loan

        Such As;

         
	 	 
	LOSS_MIT_EST_COMP_DATE	The
        Date The Loss Mitigation /Plan Is Scheduled To

        End/Close

         
	 	MM/DD/YYYY
	LOSS_MIT_ACT_COMP_DATE	The
        Date The Loss Mitigation Is Actually Completed

         
	 	MM/DD/YYYY


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 1 of 7



    	 



    

 


	FRCLSR_APPROVED_DATE	The
                                                                                                                                                      date
                                                                                                                                                      DA
                                                                                                                                                      Admin
                                                                                                                                                      sends
                                                                                                                                                      a
                                                                                                                                                      letter
                                                                                                                                                      to
                                                                                                                                                      the
                                                                                                                                                      servicer

                                                                                                                                                      with
                                                                                                                                                      instructions
                                                                                                                                                      to
                                                                                                                                                      begin
                                                                                                                                                      foreclosure

                                                                                                                                                      proceedings.

         
	 	MM/DD/YYYY
	ATTORNEY_REFERRAL_DATE	Date
                                                                                                        File Was Referred To Attorney
                                                                                                        to Pursue

                                                                                                        Foreclosure

         
	 	MM/DD/YYYY
	FIRST_LEGAL_DATE	Notice
                                                                                                        of 1st legal filed by
                                                                                                        an Attorney in a

                                                                                                        Foreclosure Action

         
	 	MM/DD/YYYY
	FRCLSR_SALE_EXPECTED_DATE	The
                                                                                                        date by which a foreclosure
                                                                                                        sale is expected

                                                                                                        to occur.

         
	 	MM/DD/YYYY
	FRCLSR_SALE_DATE	The
                                                                                                        actual date of the foreclosure
                                                                                                        sale.

         
	 	MM/DD/YYYY
	FRCLSR_SALE_AMT	The
    amount a property sold for at the
 foreclosure sale.	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	EVICTION_START_DATE	The
                                                                                                        date the servicer initiates
                                                                                                        eviction of the

                                                                                                        borrower.

         
	 	MM/DD/YYYY
	EVICTION_COMPLETED_DATE	The
                                                                                                        date the court revokes
                                                                                                        legal possession of

                                                                                                        the property from the
                                                                                                        borrower.

         
	 	MM/DD/YYYY
	LIST_PRICE	The
    price at which an REO property is marketed.	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	LIST_DATE	The
                                                                                                        date an REO property is
                                                                                                        listed at a particular

                                                                                                        price.

         
	 	MM/DD/YYYY
	OFFER_AMT	The
                                                                                                        dollar value of an offer
                                                                                                        for an REO property.

         
	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	OFFER_DATE_TIME	The
                                                                                                        date an offer is received
                                                                                                        by DA Admin or by the

                                                                                                        Servicer.

         
	 	MM/DD/YYYY
	REO_CLOSING_DATE	The
                                                                                                        date the REO sale of the
                                                                                                        property is scheduled

                                                                                                        to close.

         
	 	MM/DD/YYYY
	REO_ACTUAL_CLOSING_DATE	Actual
                                                                                                        Date Of REO Sale

         
	 	MM/DD/YYYY
	OCCUPANT_CODE	Classification
                                                                                                        of how the property is
                                                                                                        occupied.

         
	 	 
	PROP_CONDITION_CODE	A
                                                                                                        code that indicates the
                                                                                                        condition of the

                                                                                                        property.

         
	 	 
	PROP_INSPECTION_DATE	The
                                                                                                        date a property inspection
                                                                                                        is performed.

         
	 	MM/DD/YYYY
	APPRAISAL_DATE	The
                                                                                                        date the appraisal was
                                                                                                        done.

         
	 	MM/DD/YYYY
	CURR_PROP_VAL	The
                                                                                                        current "as is"
                                                                                                        value of the property
                                                                                                        based on

                                                                                                        brokers price opinion
                                                                                                        or appraisal.

         
	2	 
	REPAIRED_PROP_VAL	The
                                                                                                        amount the property would
                                                                                                        be worth if repairs

                                                                                                        are completed pursuant
                                                                                                        to a broker's price opinion
                                                                                                        or appraisal.

         
	2	 


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 2 of 7



    	 



    

 


	If
                                                                applicable:

         
	 	 	 
	DELINQ_STATUS_CODE	FNMA
                                                                                                        Code Describing Status
                                                                                                        of Loan

         
	 	 
	DELINQ_REASON_CODE	The
                                                                                                        circumstances which caused
                                                                                                        a borrower to

                                                                                                        stop paying on a loan.
                                                                                                        Code indicates the reason

                                                                                                        why the loan is in
                                                                                                        default for this cycle.

         
	 	 
	MI_CLAIM_FILED_DATE	Date
                                                                                                        Mortgage Insurance Claim
                                                                                                        Was Filed With

                                                                                                        Mortgage Insurance
                                                                                                        Company.

         
	 	MM/DD/YYYY
	MI_CLAIM_AMT	Amount
    of Mortgage Insurance Claim Filed	 	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	MI_CLAIM_PAID_DATE	Date
                                                                                                        Mortgage Insurance Company
                                                                                                        Disbursed Claim

                                                                                                        Payment

         
	 	MM/DD/YYYY
	MI_CLAIM_AMT_PAID	Amount
                                                                                                        Mortgage Insurance Company
                                                                                                        Paid On Claim

         
	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	POOL_CLAIM_FILED_DATE	Date
                                                                                                        Claim Was Filed With Pool
                                                                                                        Insurance Company.

         
	 	MM/DD/YYYY
	POOL_CLAIM_AMT	Amount
    of Claim Filed With Pool Insurance Company	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	POOL_CLAIM_PAID_DATE	Date
                                                                                                        Claim Was Settled and
                                                                                                        The Check Was Issued By

                                                                                                        The Pool Insurer

         
	 	MM/DD/YYYY
	POOL_CLAIM_AMT_PAID	Amount
    Paid On Claim By Pool Insurance Company	2	No
                                                                                                               commas(,)

        or
        dollar

        signs
        ($)

         

	FHA_PART_A_CLAIM_FILED_DATE	Date
                                                                                                               FHA Part A Claim
                                                                                                               Was Filed With
                                                                                                               HUD

         
	 	MM/DD/YYYY
	FHA_PART_A_CLAIM_AMT	Amount
                                                                                                               of FHA Part A Claim
                                                                                                               Filed

         
	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	FHA_PART_A_CLAIM_PAID_DATE	Date
    HUD Disbursed Part A Claim Payment	 	MM/DD/YYYY

         

	FHA_PART_A_CLAIM_PAID_AMT	Amount
    HUD Paid on Part A Claim	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	FHA_PART_B_CLAIM_FILED_DATE	Date
    FHA Part B Claim Was Filed With HUD	 	MM/DD/YYYY

         

	FHA_PART_B_CLAIM_AMT	Amount
    of FHA Part B Claim Filed	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         

	FHA_PART_B_CLAIM_PAID_DATE	Date
    HUD Disbursed Part B Claim Payment	 	MM/DD/YYYY

         

	FHA_PART_B_CLAIM_PAID_AMT	Amount
    HUD Paid on Part B Claim	2	No
                                                                                                               commas(,)

                                                                                                               or dollar

                                                                                                               signs ($)

         



 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 3 of 7



    	 



    

 


	VA_CLAIM_FILED_DATE	Date
    VA Claim Was Filed With the Veterans Admin	 	MM/DD/YYYY

         

	VA_CLAIM_PAID_DATE	Date
    Veterans Admin. Disbursed VA Claim Payment	 	MM/DD/YYYY

         

	VA_CLAIM_PAID_AMT	Amount
    Veterans Admin. Paid on VA Claim	2	No
        commas(,)

        or dollar

        signs ($)

         

	MOTION_FOR_RELIEF_DATE	The date
    the Motion for Relief was filed	10	MM/DD/YYYY

         

	FRCLSR_BID_AMT	The foreclosure
    sale bid amount	11	No commas(,)

        or dollar signs

        ($)

         

	FRCLSR_SALE_TYPE	The foreclosure sales
        results: REO, Third Party, Conveyance to HUD/VA

         
	 	 
	REO_PROCEEDS	The net proceeds
    from the sale of the REO property. 	 	No commas(,)

        or dollar signs

        ($)

         

	BPO_DATE	The date the BPO was done.

         
	 	 
	CURRENT_FICO	The current FICO score

         
	 	 
	HAZARD_CLAIM_FILED_DATE	The date the Hazard Claim
        was filed with the Hazard Insurance Company.

         
	10	MM/DD/YYYY
	HAZARD_CLAIM_AMT	The amount
    of the Hazard Insurance Claim filed.	11	No commas(,)

        or dollar signs

        ($)

         

	HAZARD_CLAIM_PAID_DATE	The date the Hazard Insurance
        Company disbursed the claim payment.

         
	10	MM/DD/YYYY
	HAZARD_CLAIM_PAID_AMT	The amount
    the Hazard Insurance Company paid on the claim.	11	No commas(,)

    or dollar signs
 ($)
	ACTION_CODE	Indicates
    loan status	 	Number
	NOD_DATE	 	 	MM/DD/YYYY
	NOI_DATE	 	 	MM/DD/YYYY
	ACTUAL_PAYMENT_PLAN_START_DATE	 	 	MM/DD/YYYY
	ACTUAL_PAYMENT_
    PLAN_END_DATE	 	 	 
	ACTUAL_REO_START_DATE	 	 	MM/DD/YYYY
	REO_SALES_PRICE	 	 	Number
	 

        REALIZED_LOSS/GAIN
	 

        As defined in the Servicing
        Agreement
	 	 

        Number



 


Exhibit
2: Standard File Codes – Delinquency Reporting


 


The Loss Mit Type field should show the approved
Loss Mitigation Code as follows:


		·	ASUM- Approved
Assumption



		·	BAP-    Borrower
Assistance Program



		·	CO-
      Charge Off



		·	DIL-
     Deed-in-Lieu



		·	FFA-
    Formal Forbearance Agreement



		·	MOD-
  Loan Modification



		·	PRE-
    Pre-Sale



 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 4 of 7



    	 



    

 


		·	SS-
       Short Sale



		·	MISC- Anything
else approved by the PMI or Pool Insurer



 


NOTE: Wells Fargo Bank will accept alternative
Loss Mitigation Types to those above, provided that they are consistent with industry standards. If Loss Mitigation Types other
than those above are used, the Servicer must supply Wells Fargo Bank with a description of each of the Loss Mitigation Types prior
to sending the file.


 


The Occupant Code field should show the current
status of the property code as follows:


		·	Mortgagor



		·	Tenant



		·	Unknown 



		·	Vacant



 


The Property Condition field should show the last
reported condition of the property as follows:


		·	Damaged



		·	Excellent



		·	Fair



		·	Gone



		·	Good



		·	Poor



		·	Special Hazard



		·	Unknown



 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 5 of 7



    	 



    

 


Exhibit
2: Standard File Codes – Delinquency Reporting, Continued


 


The FNMA Delinquent Reason Code field should show
the Reason for Delinquency as follows:


 


	Delinquency

 Code	Delinquency Description
	001	FNMA-Death of principal mortgagor
	002	FNMA-Illness of principal mortgagor
	003	FNMA-Illness of mortgagor’s family member
	004	FNMA-Death of mortgagor’s family member
	005	FNMA-Marital difficulties
	006	FNMA-Curtailment of income
	007	FNMA-Excessive Obligation
	008	FNMA-Abandonment of property
	009	FNMA-Distant employee transfer
	011	FNMA-Property problem
	012	FNMA-Inability to sell property
	013	FNMA-Inability to rent property
	014	FNMA-Military Service
	015	FNMA-Other
	016	FNMA-Unemployment
	017	FNMA-Business failure
	019	FNMA-Casualty loss
	022	FNMA-Energy environment costs
	023	FNMA-Servicing problems
	026	FNMA-Payment adjustment
	027	FNMA-Payment dispute
	029	FNMA-Transfer of ownership pending
	030	FNMA-Fraud
	031	FNMA-Unable to contact borrower
	INC	FNMA-Incarceration


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 



    	Page 6 of 7



    	 



    

 


Exhibit
2: Standard File Codes – Delinquency Reporting, Continued


 


The FNMA Delinquent Status Code field should show
the Status of Default as follows:


 


	Status Code	Status Description
	09	Forbearance
	17	Pre-foreclosure Sale Closing Plan Accepted
	24	Government Seizure
	26	Refinance
	27	Assumption
	28	Modification
	29	Charge-Off
	30	Third Party Sale
	31	Probate
	32	Military Indulgence
	43	Foreclosure Started
	44	Deed-in-Lieu Started
	49	Assignment Completed
	61	Second Lien Considerations
	62	Veteran’s Affairs-No Bid
	63	Veteran’s Affairs-Refund
	64	Veteran’s Affairs-Buydown
	65	Chapter 7 Bankruptcy
	66	Chapter 11 Bankruptcy
	67	Chapter 13 Bankruptcy


 


Please be advised that failure to comply
with ANY or all of the guidelines entailed herein may result in issuance of late reporting fees.


© Copyright Wells Fargo Bank, Corporate
Trust Services


Contact us with Reporting Questions: CTSDefaultSRG@WellsFargo.com


 








    	Page 7 of 7