Attached files
EX-33.1
(logo) Bank of America
MANAGEMENT ASSERTION OF COMPLIANCE
WITH APPLICABLE SERVICING CRITERIA
February 25, 2010
Bank of America, National Association ("BANA", the "Servicer") and its
affiliates HomeFocus Tax Services LLC ("HomeFocus Tax") and Newport Management
Corporation ("Newport Management," and such companies collectively, the
"Company"), each being parties that participated in servicing functions, as such
term is described under Title 17, Section 229.1122 of the Code of Federal
Regulations ("Item 1122 of Regulation AB"), provide this platform-level
assessment of their compliance with respect to the Applicable Servicing Criteria
specified in Item 1122(d) of Regulation AB as it applies to the following
Servicing Criteria, Period and Platform:
Applicable Servicing Criteria: the Servicer provides cash collection and
administration, investor remittances and reporting (except for those
activities relating to trustee and paying agent services), and pool asset
administration (except for those activities relating to custodial
operations of pool assets and related documents) services for all servicing
criteria set forth in Schedule A hereto, to the extent required in the
related agreements, except the criteria listed in the column titled
"Inapplicable Servicing Criteria" on Schedule A. Also, footnotes are used
to clarify or condition the extent to which the criteria are covered based
on the activities performed with respect to the Platform.
Period: as of and for the period January 1, 2009 to November 13, 2009 (the
"Platform Conversion Date").
Platform: domestic asset-backed securities transactions for which the
Company acted as Servicer involving residential mortgage loans, other than
government sponsored entities, or transactions that do not have scheduled
interest and/or scheduled principal remittance schedules as outlined in
their respective transactions agreements, with the exception of certain
non-registered transactions
With respect to the Platform and the Period, the Company provides the
following assessment of compliance in respect of the Applicable Servicing
Criteria:
1. The Company is responsible for assessing its compliance with the
Applicable Servicing Criteria.
2. The Company has assessed compliance with the Applicable Servicing
Criteria.
3. Other than as identified on Schedule B hereto, as of and for the Period,
the Company complied in all material respects with the Applicable Servicing
Criteria.
The foregoing assessment of compliance in respect of the Applicable
Servicing Criteria is made by the Servicer for all Applicable Servicing Criteria
other than those noted in Schedule A hereto as being performed by HomeFocus Tax
or Newport Management and is being made by either HomeFocus Tax or Newport
Management, as the case may be, for the Applicable Servicing Criteria noted in
Schedule A as being performed by it.
PricewaterhouseCoopers LLP, an independent registered public accounting
firm, has issued an attestation report with respect to the Company's foregoing
assessment of compliance as of and for the period ended November 13, 2009.
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Bank of America, 400 Countrywide Way, Simi Valley, CA 93065
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Bank of America, National Association
By: /s/ Rebecca S. Mairone
Rebecca S Mairone
Senior Vice President
By: /s/ Kevin L. Meyers
Kevin L. Meyers
Senior Vice President
HomeFocus Tax Services, LLC
By: /s/ H. Randall Chestnut
H. Randall Chestnut
Senior Vice President
Newport Management Corporation
By: /s/ Carolyn Philmon
Carolyn Philmon
Senior Vice President
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Schedule A
Applicable Servicing Criteria
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
General Servicing Considerations
1122(d)(1)(i) Policies and procedures are instituted X
to monitor any performance or other
triggers and events of default in
accordance with the transaction
agreements.
1122(d)(1)(ii) If any material servicing activities X
are outsourced to third parties, policies
and procedures are instituted to monitor
the third party's performance and
compliance with such servicing
activities.
1122(d)(1)(iii) Any requirements in the transaction X
agreements to maintain a back-up servicer
for the pool assets are maintained.
1122(d)(1)(iv) A fidelity bond and errors and X
omissions policy is in effect on the
party participating in the servicing
function throughout the reporting period
in the amount of coverage required by and
otherwise in accordance with the terms of
the transaction agreements.
Cash Collection and Administration
1122(d)(2)(i) Payments on pool assets are deposited X
into the appropriate custodial bank
accounts and related bank clearing
accounts no more than two business days
following receipt, or such other number
of days specified in the transaction
agreements.
1122(d)(2)(ii) Disbursements made via wire transfer on X^1 X^2
behalf of an obligor or to an investor are
made only by authorized personnel.
1122(d)(2)(iii) Advances of funds or guarantees X
regarding collections, cash flows or
distributions, and any interest or other
fees charged for such advances, are made,
reviewed and approved as specified in
the transaction agreements.
1 Bank of America, N.A. under criterion 1122(d)(2)(ii) makes authorized disbursements on behalf of an obligor for escrowed
amounts and to investors for their disbursements except for specific, limited instances the tax monitoring vendors make
disbursements on behalf of an obligor.
2 Under criterion 1122(d)(2)(ii), in specific, limited instances the tax monitoring vendors make disbursements on behalf of an
obligor.
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(2)(iv) The related accounts for the X
transaction, such as cash reserve
accounts or accounts established as a
form of overcollateralization, are
separately maintained (e.g., with respect
to commingling of cash) as set forth in
the transaction agreements.
1122(d)(2)(v) Each custodial account is maintained at X
a federally insured depository
institution as set forth in the
transaction agreements. For purposes of
this criterion, "federally insured
depository institution" with respect to a
foreign financial institution means a
foreign financial institution that meets
the requirements of Rule 13k-1(b)(1) of the
Securities Exchange Act.
1122(d)(2)(vi) Unissued checks are safeguarded so as X
to prevent unauthorized access.
1122(d)(2)(vii) Reconciliations are prepared on a X
monthly basis for all asset-backed
securities related bank accounts,
including custodial accounts and related
bank clearing accounts. These
reconciliations are (A) mathematically
accurate; (B) prepared within 30
calendar days after the bank statement
cutoff date, or such other number of days
specified in the transaction agreements;
(C) reviewed and approved by someone
other than the person who prepared the
reconciliation; and (D) contain
explanations for reconciling items.
These reconciling items are resolved
within 90 calendar days of their original
identification, or such other number of
days specified in the transaction
agreements.
Investor Remittances and Reporting
1122(d)(3)(i) Reports to investors, including those X^3
to be filed with the Commission, are
maintained in accordance with the
transaction agreements and applicable
Commission requirements. Specifically,
such reports (A) are prepared in
accordance with timeframes and other
terms set forth in the transaction
agreements; (B) provide information
calculated in accordance with the terms
specified in the transaction agreements;
(C) are filed with the Commission as
required by its rules and regulations;
and (D) agree with the investors' or the
trustee's records as to the total unpaid
principal balance and number of pool
assets serviced by the Servicer.
3 Criterion under 1122(d)(3)(i)(b) are performed either by Bank of America, N.A. or another participant in the servicing
function as described in the transaction agreements. Criterion under 1122(d)(3)(i)(a), (c) and (d) are performed by another
party participating in the servicing function as described in the transaction agreements.
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(3)(ii) Amounts due to investors are allocated X^4
and remitted in accordance with
timeframes, distribution priority and
other terms set forth in the transaction
agreements.
1122(d)(3)(iii) Disbursements made to an investor are X
posted within two business days to the
Servicer's investor records, or such other
number of days specified in the transaction
agreements.
1122(d)(3)(iv) Amounts remitted to investors per the X
investor reports agree with cancelled
checks, or other form of payment, or
custodial bank statements.
Pool Asset Administration
1122(d)(4)(i) Collateral or security on pool assets X
is maintained as required by the
transaction agreements or related
mortgage loan documents.
1122(d)(4)(ii) Pool assets and related documents are X
safeguarded as required by the
transaction agreements.
1122(d)(4)(iii) Any additions, removals or substitutions X
to the asset pool are made, reviewed and
approved in accordance with any conditions
or requirements in the transaction
agreements.
1122(d)(4)(iv) Payments on pool assets, including any X^5 X^6
payoffs, made in accordance with the related
pool asset documents are posted to the
Servicer's obligor records maintained no
more than two business days after
receipt, or such other number of days
specified in the transaction agreements,
and allocated to principal, interest or
other items (e.g., escrow) in accordance
with the related pool asset documents.
1122(d)(4)(v) The Servicer's records regarding the X
pool assets agree with the Servicer's
records with respect to an obligor's
unpaid principal balance.
1122(d)(4)(vi) Changes with respect to the terms or X
status of an obligor's pool assets
(e.g., loan modifications or re-agings)
are made, reviewed and approved by
authorized personnel in accordance with the
transaction agreements and related pool
asset documents.
4 Under criterion 1122(d)(3)(ii) remittances may be made either directly to the investor by Bank of America, N.A. or another
participant in the servicing function as described in the transaction agreements. Another party participating in the servicing
function is responsible for allocations and distribution priorities as described in the transaction agreements.
5 Bank of America, N.A. performs the entire criterion 1122(d)(4)(iv) except for the lockbox function, which is a specific,
limited activity performed by a vendor.
6 A vendor performs only the lockbox function for criterion 1122(d)(4)(iv).
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(4)(vii) Loss mitigation or recovery actions X^7
(e.g., forbearance plans, modifications
and deeds in lieu of foreclosure,
foreclosures and repossessions, as
applicable) are initiated, conducted and
concluded in accordance with
the timeframes or other requirements
established by the transaction
agreements.
1122(d)(4)(viii) Records documenting collection efforts X
are maintained during the period a pool
asset is delinquent in accordance with
the transaction agreements. Such records
are maintained on at least a monthly
basis, or such other period specified in
the transaction agreements, and describe
the entity's activities in monitoring
delinquent pool assets including, for
example, phone calls, letters and
payment rescheduling plans in cases where
delinquency is deemed temporary (e.g.,
illness or unemployment).
1122(d)(4)(ix) Adjustments to interest rates or rates X
of return for pool assets with variable
rates are computed based on the related
pool asset documents.
1122(d)(4)(x) Regarding any funds held in trust for X
an obligor (such as escrow accounts): (A)
such funds are analyzed, in accordance
with the obligor's pool asset documents,
on at least an annual basis, or such
other period specified in the transaction
agreements; (B) interest on such funds is
paid, or credited, to obligors in
accordance with applicable pool asset
documents and state laws; and (C) such
funds are returned to the obligor within
30 calendar days of full repayment of the
related pool assets, or such other
number of days specified in the
transaction agreements.
7 In the absence of specific investor/insurer timeframe standards, the Company generally services loans in accordance with
Fannie Mae guidelines which are generally considered to be accepted industry standard. In those cases where loss mitigation or
recovery actions were not initiated, conducted and concluded within the specific timeframes set forth in the Fannie Mae
guidelines or transaction agreements that contain them, the Company does not consider foreclosure initiation delays to be
instances of non-compliance when the Company has made contact with the obligor and is actively engaged in negotiations
regarding a loan modification or other loss mitigation alternative, and the Company does not consider delays in the timeframe
to conduct and conclude foreclosures to be instances of non-compliance when the foreclosure process is interrupted or impeded
by a bankruptcy filing, automatic stay, court delay, delay in service of process, skip trace, probate, foreclosure moratorium,
natural or man-made disaster, legal proceeding or government seizure.
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(4)(xi) Payments made on behalf of an obligor X^8 X^9
(such as tax or insurance payments) are
made on or before the related penalty or
expiration dates, as indicated on the
appropriate bills or notices for such
payments, provided that such support has
been received by the Servicer at least 30
calendar days prior to these dates, or
such other number of days specified in
the transaction agreements.
1122(d)(4)(xii) Any late payment penalties in connection X^10 X^11
with any payment to be made on behalf of
an obligor are paid from the Servicer's
funds and not charged to the obligor,
unless the late payment was due to the
obligor's error or omission.
1122(d)(4)(xiii) Disbursements made on behalf of an X^12 X^13
obligor are posted within two business
days to the obligor's records maintained
by the Servicer, or such other number of
days specified in the transaction
agreements.
1122(d)(4)(xiv) Delinquencies, charge-offs and X
uncollectible accounts are recognized
and recorded in accordance with the
transaction agreements.
8 Bank of America, N.A. performs all of the functions under criterion 1122(d)(4)(xi) except for specific, limited tax and
insurance monitoring and disbursement activity performed by tax vendors and affiliates. Servicing functions relating to the
responsibility of an obligor to make property tax payments are performed by HomeFocus Tax Services. Servicing functions
relating to the responsibility of an obligor to insure a mortgaged property are performed by Newport Management.
9 A vendor performs specific, limited tax and insurance monitoring and disbursement functions for criterion 1122(d)(4)(xi).
10 Bank of America, N.A. performs all of the functions under criterion 1122(d)(4)(xii) except for specific, limited tax and
insurance monitoring and disbursement activity performed by vendors or HomeFocus Tax.
11 A vendor performs specific, limited tax and insurance monitoring and disbursement functions for criterion 1122(d)(4)(xii).
12 Bank of America, N.A. performs all of the functions under criterion 1122(d)(4)(xiii) except for specific, limited tax and
insurance monitoring and disbursement activity performed by tax vendors and affiliates. Tax disbursements made on behalf of an
obligor are posted to the obligor's account records by HomeFocus Tax. Disbursements made on behalf of an obligor in respect
of insurance required to be maintained on a mortgaged property are posted to the obligor's account by Newport Management.
13 A vendor performs specific, limited tax and insurance monitoring and disbursement functions for criterion 1122(d)(4)(xiii).
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(4)(xv) Any external enhancement or other X^14
support, identified in Item
1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set
forth in the transaction agreements.
14 Servicing functions performed by the Company with respect to Item 1122(d)(4)(xv) do not relate to Item 1115 of Regulation AB
(derivative transactions). With respect to external enhancement or other support, identified in Item 1114(a)(1) through (3),
there were no activities performed during the Reporting Period with respect to the Platform, because there were no occurrences of
events that would require the Company to perform such activities.
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Schedule B
Material Instances of Noncompliance
1. For criterion 1122(d)(4)(vi), the Company notes that due to the high volume
of modifications resulting from the economic climate of the last two years
in some instances loan modifications were not made, reviewed, and/or approved
in accordance with provisions of the transaction agreements.
2. For criterion 1122(d)(4)(vii), the Company notes that due in large part to
the various regulatory moratoria on foreclosure activities during the last
two years, certain loss mitigation or recovery actions were not initiated,
conducted or concluded in accordance with the required timeframes established
under the transaction agreements.
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(logo)Bank of America
MANAGEMENT ASSERTION OF COMPLIANCE
WITH APPLICABLE SERVICING CRITERIA
February 25, 2010
BAC Home Loans Servicing, LP ("BAC Servicing LP", the "Servicer") and its
affiliates Bank of America, National Association ("BANA"), Countrywide Home
Loans, Inc., BAC Tax Services Corporation ("BAC Tax Services") and Newport
Management Corporation ("Newport Management," and such companies collectively,
the "Company"), each being parties that participated in servicing functions, as
such term is described under Title 17, Section 229.1122 of the Code of Federal
Regulations ("Item 1122 of Regulation AB"), provide this platform-level
assessment of their compliance with respect to the Applicable Servicing Criteria
specified in Item 1122(d) of Regulation AB as it applies to the following
Servicing Criteria, Period and Platform:
Applicable Servicing Criteria: the Servicer provides cash collection and
administration, investor remittances and reporting (except for those
activities relating to trustee and paying agent services), and pool asset
administration (except for those activities relating to custodial
operations of pool assets and related documents) services for all servicing
criteria set forth in Schedule A hereto, to the extent required in the
related agreements, except the criteria listed in the column titled
"Inapplicable Servicing Criteria" on Schedule A. Also, footnotes are used
to clarify or condition the extent to which the criteria are covered based
on the activities performed with respect to the Platform.
Period: November 13, 2009 (the "Platform Conversion Date") marked the end
of the previous BANA Reg AB platform, and November 14, 2009 marks the
beginning of the period for this platform. This assessment of compliance
is as of and for the period November 14, 2009 to December 31, 2009.
Platform: publicly-issued (i.e., registered with the Securities and
Exchange Commission pursuant to the Securities Act of 1933, as amended)
residential mortgage-backed securities (securities collateralized by
residential mortgage loans, including prime, alternative loan products,
sub-prime, HELOC and closed seconds) issued on or after January 1, 2006 for
which the Company provides Applicable Services. In addition, commencing
with the transfer of loans from the previous BANA platform onto the
platform operated by the Servicer, this new consolidated platform also
includes (i) domestic transactions established by BANA prior to Platform
Conversion for which Applicable Services are provided and whose transaction
agreements require scheduled interest and/or scheduled principal
remittances, and (ii) any non-publically issued transaction involving
residential mortgage loans for which the Company provides Applicable
Services that specifically requires the Company to deliver an annual
platform-level assessment of compliance in respect to Applicable Servicing
Criteria. The platform excludes any transactions issued by any government
sponsored enterprise for which the Company provides the servicing functions
described in the preceding sentence.
With respect to the Platform and the Period, the Company provides the
following assessment of compliance in respect of the Applicable Servicing
Criteria:
1. The Company is responsible for assessing its compliance with the
Applicable Servicing Criteria.
2. The Company has assessed compliance with the Applicable Servicing
Criteria.
3. Other than as identified on Schedule B hereto, as of and for the Period,
the Company complied in all material respects with the Applicable Servicing
Criteria.
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Bank of America, 400 Countrywide Way, Simi Valley, CA 93065
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The foregoing assessment of compliance in respect of the Applicable
Servicing Criteria is made by the Servicer for all Applicable Servicing Criteria
other than those noted in Schedule A hereto as being performed by BAC Tax
Services or Newport Management and is being made by either BAC Tax Services or
Newport Management, as the case may be, for the Applicable Servicing Criteria
noted in Schedule A as being performed by it.
PricewaterhouseCoopers LLP, an independent registered public accounting
firm, has issued an attestation report with respect to the Company's foregoing
assessment of compliance as of and for the period ended December 31, 2009.
Bank of America, National Association
BAC Home Loans Servicing, LP
by BAC GP, LLC, its General Partner
By: /s/ Rebecca S. Mairone
Rebecca S Mairone
Senior Vice President
By:/s/ Kevin L. Meyers
Kevin L. Meyers
Senior Vice President
BAC Tax Services Corporation
By:/s/ Kevin Hemphill
Kevin Hemphill
Vice President
Newport Management Corporation
By:/s/ Carolyn Philmon
Carolyn Philmon
Senior Vice President
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Schedule A
Applicable Servicing Criteria
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
General Servicing Considerations
1122(d)(1)(i) Policies and procedures are instituted X
to monitor any performance or other
triggers and events of default in
accordance with the transaction
agreements.
1122(d)(1)(ii) If any material servicing activities X
are outsourced to third parties, policies
and procedures are instituted to monitor
the third party's performance and
compliance with such servicing
activities.
1122(d)(1)(iii) Any requirements in the transaction X
agreements to maintain a back-up servicer
for the pool assets are maintained.
1122(d)(1)(iv) A fidelity bond and errors and X
omissions policy is in effect on the
party participating in the servicing
function throughout the reporting period
in the amount of coverage required by and
otherwise in accordance with the terms of
the transaction agreements.
Cash Collection and Administration
1122(d)(2)(i) Payments on pool assets are deposited X
into the appropriate custodial bank
accounts and related bank clearing
accounts no more than two business days
following receipt, or such other number
of days specified in the transaction
agreements.
1122(d)(2)(ii) Disbursements made via wire transfer on X
behalf of an obligor or to an investor are
made only by authorized personnel.
1122(d)(2)(iii) Advances of funds or guarantees X
regarding collections, cash flows or
distributions, and any interest or other
fees charged for such advances, are made,
reviewed and approved as specified in
the transaction agreements.
1122(d)(2)(iv) The related accounts for the X
transaction, such as cash reserve
accounts or accounts established as a
form of overcollateralization, are
separately maintained (e.g., with respect
to commingling of cash) as set forth in
the transaction agreements.
1122(d)(2)(v) Each custodial account is maintained at X
a federally insured depository
institution as set forth in the
transaction agreements. For purposes of
this criterion, "federally insured
depository institution" with respect to a
foreign financial institution means a
foreign financial institution that meets
the requirements of Rule 13k-1(b)(1) of the
Securities Exchange Act.
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(2)(vi) Unissued checks are safeguarded so as X^1
to prevent unauthorized access.
1122(d)(2)(vii) Reconciliations are prepared on a X
monthly basis for all asset-backed
securities related bank accounts,
including custodial accounts and related
bank clearing accounts. These
reconciliations are (A) mathematically
accurate; (B) prepared within 30
calendar days after the bank statement
cutoff date, or such other number of days
specified in the transaction agreements;
(C) reviewed and approved by someone
other than the person who prepared the
reconciliation; and (D) contain
explanations for reconciling items.
These reconciling items are resolved
within 90 calendar days of their original
identification, or such other number of
days specified in the transaction
agreements.
Investor Remittances and Reporting
1122(d)(3)(i) Reports to investors, including those X^2
to be filed with the Commission, are
maintained in accordance with the
transaction agreements and applicable
Commission requirements. Specifically,
such reports (A) are prepared in
accordance with timeframes and other
terms set forth in the transaction
agreements; (B) provide information
calculated in accordance with the terms
specified in the transaction agreements;
(C) are filed with the Commission as
required by its rules and regulations;
and (D) agree with the investors' or the
trustee's records as to the total unpaid
principal balance and number of pool
assets serviced by the Servicer.
1122(d)(3)(ii) Amounts due to investors are allocated X^3
and remitted in accordance with
timeframes, distribution priority and
other terms set forth in the transaction
agreements.
1 Unissued checks held to make tax disbursements on behalf of obligors are safeguarded by BAC Tax Services.
2 Servicing functions performed by the Company with respect to Item 1122(d)(3)(i)(B) do not relate to information other than
that contained in the monthly remittance reports delivered by the Company to the master servicer, trustee, and/or bond
administrator. Servicing functions performed by the Company with respect to Item 1122(d)(3)(i)(D) relate to agreeing the total
unpaid principal balance and number of pool assets serviced by the Company to the trustee's records, not to the investors'
records.
3 Servicing functions performed by the Company with respect to Item 1122(d)(3)(ii) do not relate to amounts other than amounts
remitted by the Company to the master servicer, trustee, and/or bond administrator.
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INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(3)(iii) Disbursements made to an investor are X^4
posted within two business days to the
Servicer's investor records, or such other
number of days specified in the transaction
agreements.
1122(d)(3)(iv) Amounts remitted to investors per the X^5
investor reports agree with cancelled
checks, or other form of payment, or
custodial bank statements.
Pool Asset Administration
1122(d)(4)(i) Collateral or security on pool assets X^6
is maintained as required by the
transaction agreements or related
mortgage loan documents.
1122(d)(4)(ii) Pool assets and related documents are X^6
safeguarded as required by the
transaction agreements.
1122(d)(4)(iii) Any additions, removals or substitutions X
to the asset pool are made, reviewed and
approved in accordance with any conditions
or requirements in the transaction
agreements.
1122(d)(4)(iv) Payments on pool assets, including any X
payoffs, made in accordance with the related
pool asset documents are posted to the
Servicer's obligor records maintained no
more than two business days after
receipt, or such other number of days
specified in the transaction agreements,
and allocated to principal, interest or
other items (e.g., escrow) in accordance
with the related pool asset documents.
1122(d)(4)(v) The Servicer's records regarding the X
pool assets agree with the Servicer's
records with respect to an obligor's
unpaid principal balance.
1122(d)(4)(vi) Changes with respect to the terms or X
status of an obligor's pool assets
(e.g., loan modifications or re-agings)
are made, reviewed and approved by
authorized personnel in accordance with the
transaction agreements and related pool
asset documents.
4 Servicing functions performed by the Company with respect to Item 1122(d)(3)(iii) do not relate to records other than the
applicable custodial bank account statements maintained by the Company pursuant to the transaction agreements.
5 Servicing functions performed by the Company with respect to Item 1122(d)(3)(iv) do not relate to records other than custodial
bank account statements and wire records of the Company and the remittance reports prepared and delivered by the Company.
6 Servicing functions performed by the Company with respect to Item 1122(d)(4)(i) and Item 1122(d)(4)(ii) do not relate to the
custodial operations of the pool assets and related documents (collateral file) by the document custodian responsible for such
functions for the related transaction.
Page 5 of 8
(page)
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(4)(vii) Loss mitigation or recovery actions X^7
(e.g., forbearance plans, modifications
and deeds in lieu of foreclosure,
foreclosures and repossessions, as
applicable) are initiated, conducted and
concluded in accordance with
the timeframes or other requirements
established by the transaction
agreements.
1122(d)(4)(viii) Records documenting collection efforts X
are maintained during the period a pool
asset is delinquent in accordance with
the transaction agreements. Such records
are maintained on at least a monthly
basis, or such other period specified in
the transaction agreements, and describe
the entity's activities in monitoring
delinquent pool assets including, for
example, phone calls, letters and
payment rescheduling plans in cases where
delinquency is deemed temporary (e.g.,
illness or unemployment).
1122(d)(4)(ix) Adjustments to interest rates or rates X
of return for pool assets with variable
rates are computed based on the related
pool asset documents.
1122(d)(4)(x) Regarding any funds held in trust for X^8
an obligor (such as escrow accounts): (A)
such funds are analyzed, in accordance
with the obligor's pool asset documents,
on at least an annual basis, or such
other period specified in the transaction
agreements; (B) interest on such funds is
paid, or credited, to obligors in
accordance with applicable pool asset
documents and state laws; and (C) such
funds are returned to the obligor within
30 calendar days of full repayment of the
related pool assets, or such other
number of days specified in the
transaction agreements.
7 In the absence of specific investor/insurer timeframe standards, the Company generally services loans in accordance with
Fannie Mae guidelines which are generally considered to be accepted industry standard. In those cases where loss mitigation or
recovery actions were not initiated, conducted and concluded within the specific timeframes set forth in the Fannie Mae
guidelines or transaction agreements that contain them, the Company does not consider foreclosure initiation delays to be
instances of non-compliance when the Company has made contact with the obligor and is actively engaged in negotiations
regarding a loan modification or other loss mitigation alternative, and the Company does not consider delays in the timeframe
to conduct and conclude foreclosures to be instances of non-compliance when the foreclosure process is interrupted or impeded
by a bankruptcy filing, automatic stay, court delay, delay in service of process, skip trace, probate, foreclosure moratorium,
natural or man-made disaster, legal proceeding or government seizure.
8 For criterion 1122(d)(4)(x)(B), the Company generally pays interest on borrower funds held in escrow; however, even though
some state laws require such payments of interest, the Company asserts that Federal pre-emption rules for nationally chartered
banks under 12 CFR Section 34.4 would be available to it if conditions arose that necessitated invoking pre-emption and such
Federal pre-emption alone represents compliance for loans for which the Company pays interest and for those for which the
Company may decide not to pay interest on borrower funds held in escrow.
Page 6 of 8
(page)
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by NOT performed
by subservicer(s) by the Company
Vendor(s) or vendor(s) or by
Performed for which for which the subservicer(s)
Directly the Company Company is or vendor(s)
by the is the NOT the retained by
Company Responsible Responsible the Company
Reference Criteria Party Party
1122(d)(4)(xi) Payments made on behalf of an obligor X^9
(such as tax or insurance payments) are
made on or before the related penalty or
expiration dates, as indicated on the
appropriate bills or notices for such
payments, provided that such support has
been received by the Servicer at least 30
calendar days prior to these dates, or
such other number of days specified in
the transaction agreements.
1122(d)(4)(xii) Any late payment penalties in connection X^10
with any payment to be made on behalf of
an obligor are paid from the Servicer's
funds and not charged to the obligor,
unless the late payment was due to the
obligor's error or omission.
1122(d)(4)(xiii) Disbursements made on behalf of an X^11
obligor are posted within two business
days to the obligor's records maintained
by the Servicer, or such other number of
days specified in the transaction
agreements.
1122(d)(4)(xiv) Delinquencies, charge-offs and X
uncollectible accounts are recognized
and recorded in accordance with the
transaction agreements.
1122(d)(4)(xv) Any external enhancement or other X^12
support, identified in Item
1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set
forth in the transaction agreements.
9 Servicing functions relating to the responsibility of an obligor to make property tax payments are performed by BAC Tax
Services. Servicing functions relating to the responsibility of an obligor to insure a mortgaged property are performed by
Newport Management.
10 Performed by BAC Tax Services
11 Tax disbursements made on behalf of an obligor are posted to the obligor's account records by BAC Tax Services. Disbursements
made on behalf of an obligor in respect of insurance required to be maintained on a mortgaged property are posted to the
obligor's account by Newport Management.
12 Servicing functions performed by the Company with respect to Item 1122(d)(4)(xv) do not relate to Item 1115 of Regulation AB
(derivative transactions). With respect to external enhancement or other support, identified in Item 1114(a)(1) through (3),
there were no activities performed during the Reporting Period with respect to the Platform, because there were no occurrences
of events that would require the Company to perform such activities.
Page 7 of 8
(page)
Schedule B
Material Instances of Noncompliance
1. For criterion 1122(d)(4)(vi), the Company notes that due to the high volume
of modifications resulting from the economic climate of the last two years
in some instances loan modifications were not made, reviewed, and/or approved
in accordance with provisions of the transaction agreements.
Page 8 of 8
