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National Cooperative Bank | 2011 Crystal Drive

Suite 800

Arlington, Virginia 22202

 

TEL     (703) 302-8000

TOLL   (800) 955-9622

FAX     (703) 647-3460 |
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MANAGEMENT'S ASSERTION ON COMPLIANCE WITH APPLICABLE SERVICING

CRITERIA PURSUANT TO ITEM 1122 OF REGULATION AB

 

Management of the National Cooperative Bank, N.A., formerly NCB, FSB, (the "Bank") is responsible for assessing compliance with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission ("SEC") relating to the servicing of asset-backed securities transactions conducted by the Bank (the "Platform") as of and for the year ended December 31, 2014 (the "Reporting Period"). Appendix A identifies the individual asset­backed transactions and securities defined by management as constituting the Platform.

 

With respect to applicable servicing criterion 1122(d)(2)(iv) and 1122(d)(4)(ix), there was no activity performed during the Reporting Period with respect to the Platform, because there were no occurrences of events that would require the Bank to perform such activities.

 

The Bank's management has assessed the Bank's compliance with the applicable servicing criteria as of and for the year ended December 31, 2014. In making this assessment, management used the criteria set forth by the SEC in paragraph (d) of Item 1122 of Regulation AB, excluding the criteria set forth in Appendix B, which management has determined are not applicable to the servicing activities it performs with respect to the Platform.

 

With respect to servicing criteria 1122(d)(1)(ii) and 1122(d)(4)(xi), the Bank has engaged various vendors to perform the activities required by these servicing criteria. Management has determined that these vendors are not considered a "servicer" as defined in Item 1101(j) of Regulation AB, and has elected to take responsibility for assessing compliance with the servicing criteria applicable to each vendor as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly Available Telephone Interpretations ("Interpretation 17.06"). As permitted by Interpretation 17.06, management asserts that it has policies and procedures in place designed to provide reasonable assurance that the vendors' activities comply in all material respects with the servicing criteria applicable to each vendor. Management is solely responsible for determining that it meets the SEC requirements to apply Interpretation 17.06 for the vendors and related criteria.

 

Based, on such assessment, management believes that, as of and for the year ended December 31, 2014, the Bank has complied in all material respects with the servicing criteria set forth in Item 1122(d) of Regulation AB, including servicing criteria 1122(d)(1)(ii) and 1122(d)(4)(xi) for which compliance is determined based on Interpretation 17.06 as described above, relating to the servicing of the Platform.

 

Grant Thornton LLP, an independent registered public accounting firm has issued an attestation report with respect to management's assessment of compliance with the applicable servicing criteria as of and for the year ended December 31, 2014.

 

 
| /s/ Steven Brookner

Steven Brookner

President | /s/ Kathleen Luzik

Kathleen Luzik

Chief Operating Officer |
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February 27, 2015

 

 

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Banking products and services provided by National Cooperative Bank, N.A. Member FDIC.

 

 

 

Appendix A to Management's Assertion

 

 

Individual Investors for Which National Cooperative Bank, N.A. Performed Servicing Activities

 

 

**lnv****#         Pool Description**

 

 

363          CSFB 2000 PS4

364          CSFB 2000 Cl

366          CSFB 2000 C1

367          CSFB 2001 CKN5

372          MSDW 2002 IQ3

373          CSFB 2003 CPN1

374          CSFB 2003 C3

375          MSCI 2003 IQ6

376          CSFB 2004 Cl

377          MSCI 2004 IQ7

378          CSFB 2004 C4

379          MSCI 2005 IQ9

380          CSFB 2005 C3

381          CSFB 2005 C5

382          MSCI 2005 IQ10

383          CSFB 2006 C1

384          MSCI 2006 IQ11

385          CSMC 2006 C4

386          MSCI 2007 IQ13

387          CSFB 2007 C4

388          MSCI 2007 IQ16

389          WFRBS 2013 C12

391          WFRBS 2013 C13

392          WFRBS 2013 C15

393          WFRBS 2013 C16

394          WFRBS 2013 C18

395          WFRBS 2014 Cl9

396          WFRBS 2014 C20

397          WFRBS 2014 C21

398          WFRBS 2014 C22

399          WFRBS 2014 C23

400          WFCM 2014 LC18

 

 

 

Appendix B to Management's Assertion

 

 

 

Regulation AB Item 1122(d) criteria determined to be not applicable:

• 1122(d)(l)(iii)

• 1122(d)(3)(i)

• 1122(d)(3)(ii)

• 1122(d)(3)(iii)

• 1122(d)(3)(iv)

• 1122(d)(4)(ii)

• 1122(d)(4)(xv)