Investor Escrow Agreement - Excel

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Investor Escrow Agreement - Excel Powered By Docstoc
					MICA Second Look Template




  Open MICA Second Look Template.

  Open Second Look Data Dictionary.
                                                       MICA Second Look Submission Template

              Column   Label                                       Data Dictionary                                 Field Type        Field Validation
                                                                                                                                      1 – Fannie Mae 2 –
     INPUTS
              A        Investor Code                               A code identifying the investor in the loan.    Enumerated List
                                                                                                                                     Freddie Mac 3 – Private
                                                                                                                                     4 - Portfolio 5 - GNMA

              B        Servicer Loan Number                        A unique identifier assigned by the     Character                 Maximum Length 30
                                                                  servicer which is associated with a loan
                                                                  secured by a property.
              C        GSE Loan Number                             Fannie Mae or Freddie Mac Loan Number. Character                   Conditionally required
                                                                                                                                     – GSE loans only.
                                                                                                                                     Maximum Length 30
              D        HAMP Servicer Number                        A unique identifier assigned to each            Character          Maximum Length 9
                                                                  servicer that is participating in the HAMP.

              E        Data Collection Date                        The date on which the UPB and                   Date               Valid date not in the
                                                                  associated remaining term data was                                 future and within thelast
                                                                  collected.                                                         90 days.
              F        Property - Number of Units                  The total number of dwelling units              Number             Allowable values:
                                                                  included in the property.                                          1,2,3,4
              G        First Payment Date at Origination           The estimated date the first payment was        Date               Valid date between
                                                                  made on the loan after origination.                                12/31/1960 and
                                                                                                                                     03/01/2009
              H        Unpaid Principal Balance at Origination The face value on the note at origination           Number(2)          Greater than 0
                                                               (i.e., the amount borrowed by the
                                                               mortgagor). Report 2 decimal places.
              I        Amortization Term at Origination         The number of months between the                   Integer           Greater than 0
                                                               scheduled first payment due date and the
                                                               maturity date of the mortgage, expressed
                                                               in months.
              J        Interest Rate at Origination             The interest rate of the loan at origination.      Percent(5)         Greater than or equal
                                                               Report 5 decimal places.                                              to 0 and less than or
                                                                                                                                     equal to 25.00000%
              K        LTV at Origination (1st Lien only)          The ratio between the original loan             Percent(5)         Greater than or equal
                                                                  amount and the lesser of the sales price or                        to 0 and less than or
                                                                  the appraised value, for first mortgages.                          equal to 150.00000%.

              L        Product before Modification                 The general classification of the loan.         Enumerated List    Must be a valid product
                                                                                                                                     type code from the list.
                                                                                                                                     1- ARM, 2 - Fixed Rate,
                                                                                                                                     3 - Step Rate, 4 - One
                                                                                                                                     Step Variable, 5 - Two
                                                                                                                                     Step Variable, 6 - Three
                                                                                                                                     Step Variable, 7 - Four
                                                                                                                                     Step Variable, 8 - Five
                                                                                                                                     Step Variable,9 -
                                                                                                                                     SixStep Variable, 10 -
                                                                                                                                     Seven Step Variable,11
                                                                                                                                     - Eight Step Variable,
                                                                                                                                     12 - Nine Step
                                                                                                                                     Variable,13 - Ten Step
                                                                                                                                     Variable, 14 - Eleven
                                                                                                                                     Step Variable, 15 -
                                                                                                                                     Twelve Step Variable,
                                                                                                                                     16 - Thirteen Step
                                                                                                                                     Variable, 17 – Fourteen
                                                                                                                                     Step Variable
                                                                                                                                     Numeric(4,0)

              M        Next ARM Reset Rate                         The expected interest rate on an ARM            Percent(5)         Conditionally required
                                                                  loan at the next ARM reset date given the                          – ARM/IO product types
                                                                  reset date is within the next 4 months. Use                        only. Greater than or
                                                                  the latest available reset rate at the time of                     equal to 0 and less than
                                                                  submission. If the reset date is outside of                        or equal to 25.00000%
                                                                  4 months, the use current note rate before
                                                                  modification.
              N        ARM Reset Date                              The date on which the next ARM reset is         Date               Conditionally required
                                                                  due to occur.                                                      – ARM/IO product types
                                                                                                                                     only. Valid date greater
                                                                                                                                     than 01/01/1900

              O        Remaining Term (# of Payment Months Scheduled remaining term of the loan in                 Integer           Greater than 0
                       Remaining)                          months. Equivalent to the amortization
                                                           term minus the time since the first
                                                           payment after origination to the date that
                                                           the payment information (i.e., UPB) was
                                                           obtained; regardless of months delinquent.
                                                            Example: First payment date for a 360-
                                                           month term loan was 5/1/08. The current
                                                           payment information (i.e., UPB) was
                                                           reported as of 4/30/09. Remaining terms
                                                           for this loan is (360-12 = 348).



8854a8b2-3324-4695-afcf-bf286a081098.xls
                                                       MICA Second Look Submission Template

          Column      Label                                   Data Dictionary                                Field Type         Field Validation
          P          Unpaid Principal Balance Before           The unpaid balance as of the last paid        Number(2)          Greater than 0
                     Modification                             installment date. Does not include
                                                              arrearage. Report 2 decimals.
          Q           Interest Rate Before Modification        The interest rate on the loan before the      Percent(5)          Greater than or equal
                                                              modification. Report 5 decimals.                                  to 0 and less than or
                                                                                                                                equal to 25.00000%
          R          Principal and Interest Payment Before     The sum of the principal and interest         Number(2)           Greater than 0
                     Modification                             payments before modification. If the loan
                                                              is an IO loan in the interest only period,
                                                              enter only the interest amount. If the loan
                                                              is a neg-am, enter the payment amount
                                                              received (without escrow) at the most
                                                              recent payment date. Report 2 decimals.

          S           Current Borrower Credit Score3          The current credit score of the borrower.      Integer             Greater than or equal
                                                              Valid if collected in the last 90 days.                           to 250 and less than or
                                                                                                                                equal to900.
          T           Current Co-borrower Credit Score         The credit score of the co-borrower. Valid    Integer             Conditionally required
                                                              if collected in the last 90 days. If not                          – Loans with co-
                                                              applicable, leave blank.                                          borrowers. Greater than
                                                                                                                                or equal to 250 and less
                                                                                                                                than or equal to 900

          U           Property - Zip Code                     The five digit zip code of the property.       Integer             5 digits
          V           Property - State                        The two letter state code of the property.     Enumerated List4    Must be a valid state
                                                                                                                                code from the list: AK,
                                                                                                                                AL, AR, AZ, CA, CO,
                                                                                                                                CT, DC, DE, FL, GA,
                                                                                                                                GU, HI, IA, ID, IL, IN,
                                                                                                                                KS, KY, LA, MA, MD,
                                                                                                                                ME, MI, MN, MO, MS,
                                                                                                                                MT, NC, ND, NE, NH,
                                                                                                                                NJ, NM, NV, NY, OH,
                                                                                                                                OK, OR, PA, PR, RI,
                                                                                                                                SC,SD, TN, TX, UT,
                                                                                                                                VA, VI, VT, WA, WI,
                                                                                                                                WV, WY
          W          Association Dues/Fees Before             Monthly HOA or condo fees.                     Number(2)           Greater than or equal
                     Modification                                                                                               to 0
          X          Monthly Hazard and Flood Insurance        Monthly hazard and flood insurance            Number(2)           Greater than or equal
                                                              coverage amount.                                                  to 0
          Y           Monthly Real Estate Taxes                Monthly real estate taxes.                    Number(2)           Greater than or equal
                                                                                                                                to 0
          Z           MI Coverage Percent                      Current non-investor primary mortgage         Percent(5)          Greater than or equal
                                                              insurance coverage percentage. Report 5                           to 0 and less than or
                                                              decimals.                                                         equal to 100.00000%
          AA          Property Valuation As-is Value           Property value collected through an AVM,      Number(2)           Greater than 0
                                                              BPO, or appraisal in the last 90 days.
                                                              Report 2 decimals.
          AB          Mark-to-Market LTV                       Current UPB divided by current property       Percent(5)          Greater than or equal
                                                              value. Truncate the value to 5 decimal                            to 0 and less than or
                                                              places. Do not round. For example, for                            equal to 999.99999%
                                                              MTM-LTV =66.666612%, truncate the
                                                              value to 5 decimal places and report
                                                              66.66661%. If you are pasting the value, it
                                                              should be 0.6666661. Another example,
                                                              for MTM-LTV =79.999998%, truncate the
                                                              value to 5 decimal places and report
                                                              79.99999%. If you are pasting the value, it
                                                              should be 0.7999999.

          AC          Months Past Due                          Number of months between the reporting        Integer             Greater than or equal
                                                              date and the last paid installment date if                        to 0
                                                              the first paid installment date is the first
                                                              day of the month. If the first paid
                                                              installment date is not the first day of the
                                                              month, then Months Past Due is the
                                                              number of months between the reporting
                                                              date and the last paid installment date,
                                                              minus one month.

          AD          Advances/Escrow                          Required escrow advances already paid         Number(2)           Greater than or equal
                                                              by the servicer and any required escrow                           to 0
                                                              advances from the servicer that are
                                                              currently due and will be paid by the
                                                              servicer during the Trial Period. Report 2
                                                              decimals.
          AE          Borrower’s Total Monthly Obligations     Total monthly expenses as reported by         Number(2)           Greater than or equal
                                                              the borrower. Valid if reported in the last                       to 0
                                                              90 days. Report 2 decimals.



8854a8b2-3324-4695-afcf-bf286a081098.xls
                                                       MICA Second Look Submission Template

               Column   Label                                  Data Dictionary                                  Field Type            Field Validation
               AF       Monthly Gross Income                    Total monthly gross income as reported          Number(2)              Greater than or equal
                                                               by the borrower. Valid if reported in the                              to 0
                                                               last 90 days. Report 2 decimals.
               AG       Imminent Default Flag                   If a current or 30-day delinquent borrower      Character (Boolean)   Y/N
                                                               is considered in imminent default, then
                                                               this flag receives the value “Y.” Otherwise,
                                                               it receives the value “N.”
               AH       Discount Rate Risk Premium              The rate at which the discount rate is          Percent(5)             Greater than or equal
                                                               greater than the Freddie Mac Primary                                   to 0 and lessthan or
                                                               Mortgage Market Survey (PMMS) weekly                                   equal to 2.50000%
                                                               rate for the 30-year conforming loan. The
                                                               default value is 0. However, a servicer can
                                                               override the default rate and add up to 250
                                                               bps. No premium for Fannie and Freddie
                                                               loans. Report 5 decimals.

               AI       Modification Fees                       Fees that will be reimbursed by the             Number(2)              Conditionally Required
                                                               investors, including notary fees, property                             – If fees exist for
                                                               valuation, and other required fees. Report                             reimbursement. Greater
                                                               2 decimals.                                                            than or equal to 0

               AJ       MI Partial Claim Amount                 Amount paid by the MI at the time of the        Number(2)              Greater than or equal
                                                               modification. Report 2 decimals.                                       to 0
               AK       Unpaid Principal Balance After          UPB prior to the modification plus interest     Number(2)              Greater than 0
                        Modification (Net of Forbearance &     arrearage, taxes, insurance, HOA
                        Principal Reduction)                   amounts, and other costs capitalized at
                                                               the time of the modification. Report 2
                                                               decimals.
               AL       Interest Rate After Modification        The interest rate on the loan in the month      Percent(5)             Greater than or equal
                                                               after modification. Report 5 decimals.                                 to 0 and less than or
                                                                                                                                      equal to 25.00000%.
               AM       Amortization Term After Modification    The amortization period of the loan after  Integer                     Greater than 0
                                                               modification. Reported in months. This
                                                               period includes the term extension as
                                                               defined in the HAMP modification waterfall.

               AN       Principal and Interest Payment after    The sum of the principal and interest           Number(2)             Greater than 0
                        Modification                           payments in the month after the
                                                               modification. Report 2 decimals.
               AO       Principal Forbearance Amount            The amount of principal forbearance             Number(2)              Greater than or equal
                                                               applied at the modification. Report 2                                  to 0
                                                               decimals.
               AP       Principal Forgiveness Amount            The amount of principal forgiveness             Number(2)              Greater than or equal
                                                               applied at the modification. Report 2                                  to 0
                                                               decimals.
               AQ       Property Valuation Type                 A code that denotes the type of estimate        Enumerated List        1 – AVM 2 – Exterior
                                                               of the value of the real estate property.                              BPO / Appraisal (as is
                                                                                                                                      value) 3 – Interior BPO
                                                                                                                                      / Appraisal (as is value)
               AR       NPV Date                                Date of the NPV run used to determine           Date                   Valid date must be
                                                               trial modification eligibility. This should be                         greater than or equal to
                                                               the same NPV Date reported for the trial                               4/15/09 butnot after
                                                               modification setup. Use today’s date if                                current date
                                                               running the loan for the first time.
     OUTPUTS




               AS       HAMP Servicer ID                       A unique identifier assigned to each
                                                               servicer that is participating in the HAMP.
                                                               This identifier will match the information
                                                               provided on the input file.
               AT       Servicer Loan Number                   A unique identifier assigned by the
                                                               servicer that is associated with a loan
                                                               secured by a property. This identifier will
                                                               match the information provided on the
                                                               input file.
               AU       Waterfall Test                         Whether the modification submitted
                                                               appears to follow the HAMP waterfall
                                                               guidelines.
               AV       De minimis Test                        Whether the loan meets the “de minimis”
                                                               test – at least 6 percent reduction in
                                                               monthly payment.
               AW       Forbearance Flag                       Cases where the loan, after modification,
                                                               is NPV negative and the amount forborne
                                                               makes the interest-bearing unpaid
                                                               principal balance less than the market
                                                               value of the property. In these cases, the
                                                               loan is ineligible for HAMP modification.

               AX       Value No Mod                           The NPV of the loan without a modification.

               AY       Value Mod                              The NPV of the loan with a modification.
               AZ       NPV Test                               The result of the NPV test, either Positive
                                                               or Negative.

8854a8b2-3324-4695-afcf-bf286a081098.xls
                                                          MICA Second Look Submission Template

                 Column   Label                                   Data Dictionary                                 Field Type    Field Validation
                 BA       NPV Run Successful                     “Y” or “N” results indicating if the loan was
                                                                 able to run through the base NPV model.
                                                                 The data field is populated with a “Y” flag if
                                                                 the loan runs through the base NPV model
                                                                 successfully. If the loan does not run
                                                                 through the base NPV model successfully
                                                                 due to a data error or other issue, the field
                                                                 will be populated with an “N” flag, followed
                                                                 by a code(s) indicating the error. For
                                                                 example, N: 1; 5; d. The list of codes and
                                                                 descriptions is provided below. If the loan
                                                                 is not run through the base NPV model
                                                                 successfully, NPV values will not be
                                                                 available – please correct the data and
                                                                 resubmit. If you received error codes A, F,
                                                                 and/or G, the loan is ineligible for HAMP
                                                                 modification.

                                                                 Result must equal "Y" or "N;f" for
                                                                 submission to MI Second Look program.

                 BB       Run Date                             NPV test run date.
                 BC       Code Version                         The version of the base NPV model that
                                                               was used in the assessment.
                 BD       FreddiePMMS Rate                     The Freddie Mac weekly PMMS rate for
                                                               30-year conforming loans used in the NPV
                                                               calculation.
     MI VALUES




                 BE       Mortgagor Last Name                  The primary borrower's last name                   Text
                 BF       Mortgagor First Name                 The primary borrower's first name                  Text
                 BG       Servicing Company Name               The complete name of the company                   Text (25)
                                                               servicing the loan.
                 Bh       Fannie Mae MI Company code – Primary The Fannie Mae mortgage insurance                  Numeric (2)   01 - Genworth
                                                               company identifier for the MI Company                            06 - MGIC
                                                               that has the primary insurance coverage.                         11 - PMI
                                                                                                                                12 - UGI
                                                                                                                                13- RMIC
                                                                                                                                24 - Triad
                                                                                                                                33 - Radian
                                                                                                                                38 - CMG
                 BI       Primary MI certificate number          Provide the MI company primary            Alpha-numeric (11)
                                                                 certificate number.
                 BJ       Gross Unpaid Principal Balance after   The unpaid principal balance of a loan    Numeric (12,2)
                          modification                           after the loan modification including any
                                                                 applicable forbearance amount and can
                                                                 also be referred to as Gross UPB Amount.

                 BK       Total Dollar Amount Delinquent         If the loan is currently in default, provide Numeric (12,2)
                                                                 the total amount currently delinquent.
                                                                 Include decimal point only; do not include
                                                                 commas or dollar sign.
                 BL       Total Capitalized Dollar Amount        Provide the dollar amount of any             Numeric (12,2)
                                                                 capitalization increasing the loan balance
                                                                 as part of the workout. Include decimal
                                                                 point only; do not include commas or dollar
                                                                 sign.




8854a8b2-3324-4695-afcf-bf286a081098.xls
Investor Code   Servicer Loan GSE Loan   HAMP       Data            Property -   First Payment Unpaid        Amortization    Interest Rate    LTV at           Product        Next ARM     ARM Reset
                Number        Number     Servicer   Collection Date Number of    Date at       Principal     Term at        at Origination   Origination       before         Reset Rate   Date
                                         Number                     Units        Origination   Balance at    Origination                     (1st Lien only)   Modification
                                                                                               Origination
Remaining    Unpaid         Interest Rate    Principal and   Current         Current Co-    Property - Zip   Property -   Association     Monthly     Monthly Real   MI Coverage    Property       Mark-to-
Term (# of   Principal      Before          Interest         Borrower        borrower       Code             State        Dues/Fees      Hazard and   Estate Taxes   Percent       Valuation As-   Market LTV
Payment      Balance        Modification    Payment          Credit Score3   Credit Score                                 Before         Flood                                     is Value
Months       Before                         Before                                                                        Modification   Insurance
Remaining)   Modification                   Modification
Months Past                 Borrower’s      Monthly        Imminent       Discount Rate Modification   MI Partial      Unpaid       Interest Rate   Amortization    Principal and   Principal     Principal
Due           Advances/Escr Total Monthly   Gross Income   Default Flag   Risk Premium Fees            Claim Amount   Principal     After           Term After     Interest         Forbearance   Forgiveness
              ow            Obligations                                                                               Balance After Modification    Modification   Payment after    Amount        Amount
                                                                                                                      Modification                                 Modification
                                                                                                                      (Net of
                                                                                                                      Forbearance &
                                                                                                                      Principal
                                                                                                                      Reduction)
Property       NPV Date   HAMP          Servicer Loan   Waterfall Test   De minimis   Forbearance   Value No Mod   Value Mod   NPV Test   NPV Run      Run Date   Code Version   FreddiePMMS
Valuation Type            Servicer ID   Number                           Test         Flag                                                Successful                             Rate
Mortgagor   Mortgagor    Servicing   Fannie Mae   Primary MI    Gross         Total Dollar   Total
Last Name   First Name   Company     MI Company   certificate   Unpaid        Amount         Capitalized
                         Name        code –       number        Principal     Delinquent     Dollar
                                     Primary                    Balance after                Amount
                                                                modification

				
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Description: Investor Escrow Agreement document sample