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Foreclosure News September 18, 2020

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Foreclosure News

WELLS FARGO BANK, N.A.,as RMBS Master Servicer

Posted by Neil Garfield on 09/15/20

WELLS FARGO BANK, N.A.,as RMBS Master Servicer AMERICAN HOME MORTGAGE INVESTMENT TRUST 2006-2,as Issuing Entity DEUTSCHE BANK TRUST COMPANY AMERICAS,as Indenture Trustee AMERICAN HOME MORTGAGE ACCEPTANCE, INC.as Sponsor and AMERICAN HOME MORTGAGE SERVICING, INC.as RMBS Servicer
RMBS SERVICING AGREEMENT Dated as of June 30, 2006
Mortgage Loans American Home Mortgage Investment Trust 2006-2

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TABLE OF CONTENTS

ARTICLE IDefinitions
Section 1.01 Definitions.
Section 1.02 Other Definitional Provisions.
Section 1.03 Interest Calculations.
ARTICLE IIRepresentations and Warranties
Section 2.01 Representations and Warranties Regarding the RMBS Servicer.
Section 2.02 Existence.
Section 2.03 Enforcement of Representations and Warranties.
ARTICLE IIIAdministration and Servicing of Mortgage Loans
Section 3.01 RMBS Servicer to Act as RMBS Servicer.
Section 3.02 Subservicing Agreements Between RMBS Servicer and Subservicers.
Section 3.03 Successor Subservicers.
Section 3.04 Liability of the RMBS Servicer.
Section 3.05 Assumption or Termination of Subservicing Agreements by RMBS Master Servicer.
Section 3.06 Collection of Mortgage Loan Payments.
Section 3.07 Withdrawals from the Protected Account.
Section 3.08 Collection of Taxes Assessments and Similar Items; Servicing Accounts.
Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans.
Section 3.10 Maintenance of Primary Insurance Policies; Collection Thereunder.
Section 3.11 Maintenance of Hazard Insurance and Fidelity Coverage.
Section 3.12 Due-on-Sale Clauses; Assumption Agreements.
Section 3.13 Realization Upon Defaulted Mortgage Loans.
Section 3.14 Indenture Trustee to Cooperate; Release of Mortgage Files.
Section 3.15 Servicing Compensation.
Section 3.16 Reserved.
Section 3.17 Reserved.
Section 3.18 Optional Purchase of Defaulted Mortgage Loans.
Section 3.19 Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property.
Section 3.20 Fair Credit Reporting Act.
Section 3.21 Waiver of Prepayment Charges.
ARTICLE IVServicing Certificate
Section 4.01 Remittance Reports.
Section 4.02 Reserved.
Section 4.03 Reserved.
Section 4.04 Advances.
Section 4.05 Compensating Interest Payments.
Section 4.06 RMBS Servicer Compliance Statement.
Section 4.07 Report on Assessments of Compliance and Attestation.
Section 4.08 Attestation Reports.
Section 4.09 Annual Certification.
Section 4.10 Intention of the Parties and Interpretation.
Section 4.11 Indemnification.
ARTICLE VThe RMBS Servicer
Section 5.01 Liability of the RMBS Servicer.
Section 5.02 Merger or Consolidation of or Assumption of the Obligations of the RMBS Servicer.
Section 5.03 Limitation on Liability of the RMBS Servicer and Others.
Section 5.04 RMBS Servicer Not to Resign.
Section 5.05 Delegation of Duties.
Section 5.06 Indemnification.
Section 5.07 Duties of the RMBS Servicer With Respect to the Indenture.
Section 5.08 Compliance with Applicable Anti-Terrorism and Anti-Money Laundering Regulations.
ARTICLE VIDefault
Section 6.01 Servicing Default.
Section 6.02 RMBS Master Servicer to Act; Appointment of Successor.
Section 6.03 Reserved.
Section 6.04 Waiver of Defaults.
ARTICLE VIIMiscellaneous Provisions
Section 7.01 Amendment.
Section 7.02 GOVERNING LAW.
Section 7.03 Notices.
Section 7.04 Severability of Provisions.
Section 7.05 Third-Party Beneficiaries.
Section 7.06 Counterparts.
Section 7.07 Effect of Headings and Table of Contents.
Section 7.08 Termination.
Section 7.09 No Petition.
Section 7.10 No Recourse.
Section 7.11 Consent to Jurisdiction.
Section 7.12 Certain Terms Concerning Indenture Trustee.

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[TO BE UPDATED] EXHIBIT A - MORTGAGE LOAN SCHEDULE EXHIBIT B - FORM OF REQUEST FOR RELEASE EXHIBIT C - FORM OF CERTIFICATION TO BE PROVIDED BY THE RMBS SERVICER EXHIBIT D - LOAN LEVEL FORMAT FOR TAPE INPUT, RMBS SERVICER PERIOD REPORTING EXHIBIT E - REPORTING DATA FOR DEFAULTED LOANS EXHIBIT F - CALCULATION OF REALIZED LOSS/GAIN FORM 332 - INSTRUCTION SHEET EXHIBIT G - SERVICING CRITERIA

This RMBS Servicing Agreement, dated as of June 30, 2006, among Wells Fargo Bank, N.A., as RMBS Master Servicer (“RMBS Master Servicer”), American Home Mortgage Investment Trust 2006-2, as Issuing Entity (the Issuing Entity”), American Home Mortgage Acceptance, Inc. as Sponsor (the “Sponsor”), American Home Mortgage Servicing, Inc. as RMBS Servicer (the “RMBS Servicer”) and Deutsche Bank Trust Company Americas, as Indenture Trustee (the Indenture Trustee”).

W I T N E S S E T H T H A T : WHEREAS, pursuant to the terms of the Mortgage Loan Purchase Agreement, American Home Mortgage Securities LLC (the “Company” or “Depositor”) will acquire the Mortgage Loans;

What is the condition subsequent? — acquisition of loans. What does the agreement do? Nothing until the loans are acquired.

When are the loans acquired? Never.

Where can this agreement be found? Sec.gov. Why was it uploaded? So lawyers in foreclosure cases could claim judicial notice of what appeared to be a government document when in fact the investment banks were taking advantage of a loophole that allows them to upload documents that are not reviewed, approved or controlled in any way.

Bottom Line: Before you start analyzing the document read the beginning. If it refers to an event that is not recited as having already occurred, or a transaction that is not specifically identified such that one could easily determine if the event had already occurred, then read no further. the document is worthless unless and until evidence is introduced proving that the event occurred.

The only proof that matters is the payment of value for the underlying debt or obligation. No such transaction exists because the only people who paid value were investors and all they received was an unsecured IOU (certificate/mortgage bond) from the investment bank. They did not receive ownership or any right, title or interest to any loan because they didn’t want it.

The same is true for the investment bank and everyone else. That is why they can claim they are not lenders and therefore not subject to claims of violations of lending laws. And THAT is why if you ask for proof of purchase of the loan you will get nothing but obfuscation and lies.

The same lesson holds true for “servicer” records. Are they the servicer? Only if they are administering a credit account for a creditor. If there is no account there is no creditor. If there is no creditor there can be no servicer. If there is no account there can be no claim of loss in that account.

Foreclosure News September 18, 2020

For more information on Foreclosure News go to https://fraudstoppers.org/blog/

FRAUD STOPPERS Daily Foreclosure News Alerts September 18, 2020

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