---------------------------------------------------------------------------

    \589\ Public Law 104-121, Title II, 110 Stat. 857 (1996).
---------------------------------------------------------------------------

     An annual effect on the U.S. economy of $100 million or
more;
     A major increase in costs or prices for consumers or
individual industries; or
     Significant adverse effects on competition, investment, or
innovation.

We request comment on whether our proposed amendments would be a
``major rule'' for purposes of the Small Business Regulatory
Enforcement Fairness Act. We solicit comment and empirical data on:
     The potential effect on the U.S. economy on an annual
basis;
     Any potential increase in costs or prices for consumers or
individual industries; and
     Any potential effect on competition, investment, or
innovation.

XIV. Regulatory Flexibility Act Certification

    The Commission hereby certifies pursuant to 5 U.S.C. 605(b) that
the proposals contained in this release, if adopted, would not have a
significant economic impact on a substantial number of small entities.
The proposals relate to the registration, disclosure and reporting
requirements for asset-backed securities under the Securities Act and
the Exchange Act. Securities Act Rule 157 \590\ and Exchange Act Rule
0-10(a) \591\ defines an issuer, other than an investment company, to
be a ``small business'' or ``small organization'' if it had total
assets of $5 million or less on the last day of its most recent fiscal
year. As the depositor and issuing entity are most often limited
purpose entities in an ABS transaction, we focused on the sponsor in
analyzing the potential impact of the proposals under the Regulatory
Flexibility Act. Based on our data, we only found one sponsor that
could meet the definition of a small broker-dealer for purposes of the
Regulatory Flexibility Act.\592\ Accordingly, the Commission does not
believe that the proposals, if adopted, would have a significant
economic impact on a substantial number of small entities.
---------------------------------------------------------------------------

    \590\ 17 CFR 230.157.
    \591\ 17 CFR 240.0-10(a).
    \592\ This is based on data from Asset-Backed Alert.
---------------------------------------------------------------------------

XV. Statutory Authority and Text of Proposed Rule and Form Amendments

    We are proposing the new rules, forms and amendments contained in
this document under the authority set forth in Sections 4, 5, 6, 7, 8,
10, 17(a), 19(a), and 28 of the Securities Act, Sections 10, 12, 13,
14, 15, 23(a), 35A and 36 of the Exchange Act, and Section 319 \593\ of
the Trust Indenture Act.\594\
---------------------------------------------------------------------------

    \593\ 15 U.S.C. 77sss.
    \594\ 15 U.S.C. 77aaa et. seq.
---------------------------------------------------------------------------

List of Subjects in 17 CFR Parts 200, 229, 230, 232, 239, 240, 243
and 249

    Advertising, Reporting and recordkeeping requirements, Securities.

    For the reasons set out above, Title 17, Chapter II of the Code of
Federal Regulations is proposed to be amended as follows:

PART 200--ORGANIZATION; CONDUCT AND ETHICS; AND INFORMATION
REQUESTS

    1. The authority citation for Part 200 Subpart A continues to read
in part as follows:

    Authority: 15 U.S.C. 77o, 77s, 77sss, 78d, 78d-1, 78d-2, 78w, 78
ll(d), 78mm, 80a-37, 80b-11, and 7202, unless otherwise noted.
    Sections 200.27 and 200.30-6 are also issued under 15 U.S.C.
77e, 77f, 77g, 77h, 77j, 77q, 77u, 78e, 78g, 78h, 78i, 78k, 78m,
78o, 78o-4, 78q, 78q-1, 78t-1, 78u, 77hhh, 77uuu, 80a-41, 80b-5, and
80b-9.
    Section 200.30-1 is also issued under 15 U.S.C. 77f, 77g, 77h,
77j, 78c(b) 78l, 78m, 78n, 78 o(d).
    Section 200.30-3 is also issued under 15 U.S.C. 78b, 78d, 78f,
78k-1, 78q, 78s, and 78eee.
    Section 200.30-5 is also issued under 15 U.S.C. 77f, 77g, 77h,
77j, 78c(b), 78l, 78m, 78n, 78o(d), 80a-8, 80a-20, 80a-24, 80a-29,
80b-3, 80b-4.

    2. Amend Sec.  200.30-1 by adding paragraph (a)(11) to read as
follows:

Sec.  200.30-1  Delegation of authority to Director of Division of
Corporation Finance.

* * * * *
    (a) * * *
    (11) To request materials from issuers as required to be furnished
to the Commission, upon written request, pursuant to Form D (referenced
in Sec.  239.500 of this chapter) and Form 144A-SF (referenced in Sec.
239.144A of this chapter).
* * * * *

PART 229--STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES
ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934 AND ENERGY POLICY AND
CONSERVATION ACT OF 1975--REGULATION S-K

    3. The authority citation for part 229 continues to read in part as
follows:

    Authority:  15 U.S.C. 77e, 77f, 77g, 77h, 77j, 77k, 77s, 77z-2,
77z-3, 77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 77hhh, 777iii,
77jjj, 77nnn, 77sss, 78c, 78i, 78j, 78l, 78m, 78n, 78o, 78u-5, 78w,
78ll, 78mm, 80a-8, 80a-9, 80a-20, 80a-29, 80a-30, 80a-31(c), 80a-37,
80a-38(a), 80a-39, 80b-11, and 7201 et seq.; and 18 U.S.C. 1350,
unless otherwise noted.
* * * * *
    4. Amend Sec.  229.512 by:
    a. In paragraph (a)(1)(iii)(B) by adding the phrase ``, Form SF-3
(Sec.  239.45 of this chapter)'' immediately after the phrase, ``Form
S-3 (Sec.  239.13 of this chapter)'';
    b. In paragraph (a)(1)(iii)(C) by revising the phrase ``on Form S-1
(Sec.  239.11 of this chapter) or Form S-3 (Sec.  239.13 of this
chapter)'' to read ``Form SF-1 (Sec.  239.44 of this chapter) or Form
SF-3 (Sec.  239.45 of this chapter)'';
    c. Adding paragraphs (a)(5)(iii) and (a)(7); and
    d. Removing paragraph (l).
    The additions read as follows:

Sec.  229.512  (Item 512) Undertakings.

    (a) * * *
    (5) * * *
    (iii) If the registrant is relying on Rule 430D (Sec.  230.430D of
this chapter):
    (A) Each prospectus filed by the registrant pursuant to Rule
424(b)(3) and Rule 424(h) (Sec.  230.424(b)(3) and Sec.  230.424(h) of
this chapter) shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included in
the registration statement; and
    (B) Each prospectus required to be filed pursuant to Rule
424(b)(2), (b)(5), or (b)(7) (Sec.  230.424(b)(2), (b)(5), or (b)(7) of
this chapter) as part of a registration statement in reliance on Rule
430D relating to an offering made pursuant to Rule 415(a)(1) (vii)
(Sec.  230.415(a)(1) (vii) of this chapter) for the purpose of
providing the information required by section 10(a) of the Securities
Act of 1933 shall be deemed to be part of and included in the
registration statement as of the earlier of the date such form of
prospectus is first used after effectiveness or the date of the first
contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430D, for liability purposes of the
issuer and any person that is at that date an underwriter, such date
shall be deemed to be a new effective date of the registration
statement relating to the securities in the registration statement to
which that prospectus relates, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering thereof.
Provided, however, that no statement made in a registration statement
or prospectus that is part of the registration statement or made in a
document incorporated or deemed incorporated by reference into the
registration statement or prospectus that is part of the registration
statement will, as to a purchaser with a time of contract of sale prior
to such effective date, supersede or modify any statement that was made
in the registration statement or prospectus that was part of the
registration statement or made in any such document immediately prior
to such effective date; or
* * * * *
    (7) If the offering is registered on Form SF-3 (Sec.  239.45) and
the registrant is relying on Rule 430D (Sec.  230.430D of this
chapter):
    (i) With respect to any offering of securities to file
substantially all the information previously omitted from the
prospectus filed as part of an effective registration statement in
reliance on Rule 430D (Sec.  230.430D) except for the omission of
information with respect to the offering price, underwriting discounts
or commissions, discounts or commissions to dealers, amount of proceeds
or other matters dependent upon the offering price in accordance with
Rule 424(h) (Sec.  230.424(h)); and
    (ii) To file reports for each offering that is registered on Form
SF-3 as would be required by Section 15(d) of the Exchange Act and the
rules thereunder if the issuer were required to report under that
section as long as non-affiliates of the depositor hold any of the
issuer's securities that were sold in registered transactions and
provide disclosure in the prospectus that is filed as part of the
registration statement that the registrant has undertaken to, and will,
file with the Commission reports as would be required by Section 15(d)
of the Exchange Act and the rules thereunder.
* * * * *
    5. Amend Sec.  229.601 by:
    a. Revising the exhibit table in paragraph (a);
    b. Adding paragraph (b)(36); and
    c. Adding paragraphs (b)(102) through (b)(106).
    The revision and additions read as follows:

Sec.  229.601  Item 601. Exhibits.

    (a) * * *

EXHIBIT TABLE

* * * * *

                                                                      Exhibit Table
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                       Securities Act Forms                                         Exchange Act Forms
                                 -----------------------------------------------------------------------------------------------------------------------
                                                                    S-4                                     F-4             8-K
                                    S-1     S-3    SF-1    SF-3     \1\     S-8    S-11     F-1     F-3     \1\     10      \2\    10-D    10-Q    10-K
--------------------------------------------------------------------------------------------------------------------------------------------------------
(1) Underwriting agreement......       X       X       X       X       X      --       X       X       X       X      --       X      --      --      --

(2) Plan of acquisition,               X       X       X       X       X      --       X       X       X       X       X       X      --       X       X
 reorganization, arrangement,
 liquidation or succession......
(3) (i) Articles of                    X      --       X       X       X      --       X       X      --       X       X       X       X       X       X
 incorporation..................
(ii) Bylaws.....................       X      --       X       X       X      --       X       X      --       X       X       X       X       X       X
(4) Instruments defining the           X       X       X       X       X       X       X       X       X       X       X       X       X       X       X
 rights of security holders,
 including indentures...........
(5) Opinion re legality.........       X       X       X       X       X       X       X       X       X       X      --      --      --      --      --
(6) [Reserved]..................     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A
(7) Correspondence from an            --      --      --      --      --      --      --      --      --      --      --       X      --      --      --
 independent accountant
 regarding non-reliance on a
 previously issued audit report
 or completed interim review....
(8) Opinion re tax matters......       X       X       X       X       X      --       X       X       X       X      --      --      --      --      --
(9) Voting trust agreement......       X      --      --      --       X      --       X       X      --       X       X      --      --      --       X
(10) Material contracts.........       X      --       X       X       X      --       X       X      --       X       X      --       X       X       X
(11) Statement re computation of       X      --      --      --       X      --       X       X      --       X       X      --      --       X       X
 per share earnings.............
(12) Statements re computation         X       X      --      --       X      --       X       X      --       X       X      --      --      --       X
 of ratios......................
(13) Annual report to security        --      --      --      --       X      --      --      --      --      --      --      --      --      --       X
 holders, Form 10-Q or quarterly
 report to security holders \3\.
(14) Code of Ethics.............  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......       X      --  ......       X
(15) Letter re unaudited interim       X       X      --      --       X       X       X       X       X       X      --      --      --       X      --
 financial information..........
(16) Letter re change in               X      --      --      --       X      --       X      --      --      --       X       X      --      --       X
 certifying accountant \4\......
(17) Correspondence on departure      --      --      --      --      --      --      --      --      --      --      --       X      --      --      --
 of director....................
(18) Letter re change in              --      --      --      --      --      --      --      --      --      --      --      --      --       X       X
 accounting principles..........
(19) Report furnished to              --      --      --      --      --      --      --      --      --      --      --      --      --       X      --
 security holders...............
(20) Other documents or               --      --      --      --      --      --      --      --      --      --      --       X      --      --      --
 statements to security holders.
(21) Subsidiaries of the               X      --       X       X       X      --       X       X      --       X       X      --      --      --       X
 registrant.....................
(22) Published report regarding       --      --      --      --      --      --      --      --      --      --      --      --       X       X       X
 matters submitted to vote of
 security holders...............
(23) Consents of experts and           X       X       X       X       X       X       X       X       X       X      --    \5\X    \5\X    \5\X    \5\X
 counsel........................
(24) Power of attorney..........       X       X       X       X       X       X       X       X       X       X       X       X      --       X       X
(25) Statement of eligibility of       X       X       X       X       X      --      --       X       X       X      --      --      --      --      --
 trustee........................
(26) Invitation for competitive        X       X       X       X       X      --      --       X       X       X      --      --      --      --      --
 bids...........................
(27) through (30) [Reserved]....  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......
(31) (i) Rule 13a-14(a)/15d-          --      --      --      --      --      --      --      --      --      --      --      --      --       X       X
 14(a)..........................
Certifications (ii) Rule 13a-14/  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......  ......      --       X
 15d-14 Certifications..........
(32) Section 1350 Certifications      --      --      --      --      --      --      --      --      --      --      --      --      --       X       X
 \6\............................
(33) Report on assessment of          --      --      --      --      --      --      --      --      --      --      --      --      --      --       X
 compliance with servicing
 criteria for asset-backed
 issuers........................
(34) Attestation report on            --      --      --      --      --      --      --      --      --      --      --      --      --      --       X
 assessment of compliance with
 servicing criteria for asset-
 backed securities..............
(35) Servicer compliance              --      --      --      --      --      --      --      --      --      --      --      --      --      --       X
 statement......................
(36) Depositor Certification for      --      --      --       X      --      --      --      --      --      --      --      --      --      --      --
 shelf offerings of asset-backed
 securities.....................
(36) through (98) [Reserved]....     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A
(99) Additional exhibits........       X       X       X       X       X       X       X       X       X       X       X       X       X       X       X
(100) XBRL-Related Documents....  ......  ......      --      --  ......  ......  ......  ......  ......  ......       X       X  ......       X       X
(101) Interactive Data File.....       X       X      --      --       X      --       X       X       X       X      --       X      --       X       X
(102) Asset Data File...........      --      --       X       X      --      --      --      --      --      --      --       X       X      --      --
(103) Asset Related Documents...      --      --       X       X      --      --      --      --      --      --      --       X       X      --      --
(104) Waterfall Computer Program      --      --       X       X      --      --      --      --      --      --      --       X       X      --      --
(105) Waterfall Computer Program      --      --       X       X      --      --      --      --      --      --      --       X       X      --      --
 Related Documents..............
(106) Static Pool PDF...........      --      --       X       X      --      --      --      --      --      --      --       X      --      --      --
--------------------------------------------------------------------------------------------------------------------------------------------------------

    (b) * * *
    (36) Depositor certification for shelf offerings of asset-backed
securities. For any offering of asset-backed securities (as defined in
Sec.  229.1101) made on a delayed basis under Sec.  230.415(a)(1)(vii),
provide the certification required by General Instruction I.B.iii. of
Form SF-3 (referenced in Sec.  239.45) exactly as set forth below:

Certification

    I, [identify the certifying individual,] certify that:
    1. To my knowledge, the securitized assets backing the issue have
characteristics that provide a reasonable basis to believe that they
will produce, taking into account internal credit enhancements, cash
flows at times and in amounts necessary to service any payments of the
securities as described in the prospectus; and
    2. I have reviewed the prospectus and the necessary documents for
this certification.

Date:------------------------------------------------------------------

-----------------------------------------------------------------------
[Signature]

-----------------------------------------------------------------------
[Title]

    The certification should be signed by the chief executive officer
of the depositor, as required by General Instruction I.B.1(c) of Form
SF-3.
* * * * *
    (102) Asset Data File. An Asset Data File (as defined in Sec.
232.11 of this chapter) pursuant to, with respect to any registration
statement on Form SF-1 (Sec.  239.44) or Form SF-3 (Sec.  239.45),
Items 1111(h) and 1111(i) (Sec.  229.1111(h) and 229.1111(i) of this
chapter) or, with respect to any distribution report on Form 10-D, Item
1121(d) and 1121(e) (Sec.  229.1121(d) and 229.1121(e) of this
chapter).
    (103) Asset Related Documents. (i) If a registrant includes other
data points in the Asset Data File filed pursuant to (102) of this
subparagraph, in addition to those required by Schedule L of Regulation
AB (Sec.  229.1111A of this chapter), Schedule L-D of Regulation AB
(Sec.  229.1121A of this chapter), or Schedule CC of Regulation AB
(Sec.  229.1111B of this chapter), a document identifying and setting
forth the definitions and formulas for each of those additional data
points and the related tagged data.
    (ii) A document setting forth, in reasonable detail other
explanatory disclosure regarding the asset-level data file filed
pursuant to (102) of this paragraph,
    (104) Waterfall Computer Program. A Waterfall Computer Program as
defined in Item 1113(h) of Regulation AB (Sec.  229.1113(h) of this
chapter) filed pursuant to, with respect to any registration statement
on Form SF-1 (Sec.  239.44) or Form SF-3 (Sec.  239.45), Item 1113(h)
of Regulation AB (Sec.  229.1113(h) of this chapter).
    (105) Waterfall Computer Program Related Documents. If a registrant
includes additional program functionality in the Waterfall Computer
Program filed pursuant to (104) of this subparagraph, in addition to
that required by Item 1113(h) of Regulation AB (Sec.  229.1113(h) of
this chapter), a document identifying and setting forth in reasonable
detail the additional program functionality.
    (106) Static Pool. If not included in the prospectus, static pool
disclosure as required by Item 1105 of Regulation AB (Sec.  229.1105 of
this chapter).
* * * * *
    6. Amend Sec.  229.1100 by revising paragraph (f) and adding
paragraph (g) to read as follows:

Sec.  229.1100  (Item 1100) General.

* * * * *
    (f) Filing of required exhibits. Where agreements or other
documents in this Regulation AB are specified to be filed as exhibits
to a Securities Act registration statement, such final agreements or
other documents, if applicable, may be incorporated by reference as an
exhibit to the registration statement, such as by filing a Form 8-K in
the case of offerings registered on Form SF-3 (Sec.  239.45 of this
chapter). They must, however, be filed and made part of the
registration statement at the latest by the date the final prospectus
is required to be filed under Securities Act Rule 424 (Sec.  230.424 of
this chapter).
    (g) Presentation of flow of funds on the transaction. Provide
information on the flow of funds in the transaction, as required in
Item 1113 of Regulation AB, including any related definitions of terms,
in one location in the prospectus.
    7. Amend Sec.  229.1101 by:
    a. Revising paragraph (c)(3)(i);
    b. Revising the references to ``50%'' in paragraphs (c)(3)(ii)(A)
and (B) to read ``10%''; and
    c. Revising the phrase ``three years'' in paragraph (c)(3)(iii)
introductory text to read ``one year''.
    The revision reads as follows:

Sec.  229.1101  (Item 1101) Definitions.

* * * * *
    (c) * * *
    (3) * * *
    (i) Master trusts. The offering related to the securities
contemplates adding additional assets to the pool that backs such
securities in connection with future issuances of asset-backed
securities backed by such pool, provided, however, that the securities
are backed by receivables or other financial assets that arise under
revolving accounts. Such offering also may contemplate additions to the
asset pool, to the extent consistent with paragraphs (c)(3)(ii) and
(c)(3)(iii) of this section, in connection with maintaining minimum
pool balances in accordance with the transaction agreements.
* * * * *
    8. Amend Sec.  229.1102 by revising paragraph (a) to read as
follows:

Sec.  229.1102  (Item 1102) Forepart of registration statement and
outside cover page of the prospectus.

* * * * *
    (a) Identify the sponsor, the depositor and the issuing entity (if
known). Such identifying information should include a Central Index Key
number for the depositor and the issuing entity, and if applicable, the
sponsor.
* * * * *
    9. Amend Sec.  229.1103 by adding an instruction after paragraph
(a)(2) to read as follows:

Sec.  229.1103  (Item 1103) Transaction summary and risk factors.

* * * * *
    (a) * * *
    (2) * * *
    Instruction to Item 1103(a)(2). What is required is summary
disclosure tailored to the particular asset pool backing the asset-
backed securities. While the material characteristics will vary
depending on the nature of the pool assets, summary disclosure may
include, among other things, statistical information of: The types of
underwriting or origination programs, exceptions to underwriting or
origination criteria and, if applicable, modifications made to the pool
assets after origination.
* * * * *
    10. Amend Sec.  229.1104 by adding new paragraphs (e) and (f) to
read as follows:

Sec.  229.1104  (Item 1104) Sponsors.

* * * * *
    (e) Describe any interest that the sponsor has retained in the
transaction, including amount and nature of that interest. If the
offering is registered on Form SF-1 (Sec.  239.44), provide disclosure
(if applicable) that the sponsor is not required by law to retain any
interest in the securities and may sell any interest initially retained
at any time.
    (f) If the sponsor is required to repurchase or replace any asset
for

breach of a representation and warranty pursuant to the transaction
agreements, provide the following information:
    (1) On a pool by pool basis, the amount, if material, of the
publicly securitized assets originated or sold by the sponsor that were
the subject of a demand to repurchase or replace for breach of the
representations and warranties concerning the pool assets that has been
made in the prior three years pursuant to the transaction agreements.
Provide the percentage of that amount that were not then repurchased or
replaced by the sponsor. Of those assets that were not then repurchased
or replaced, disclose whether an opinion of a third party not
affiliated with the sponsor had been furnished to the trustee that
confirms that the assets did not violate a representation or warranty.
    (2) The sponsor's financial condition to the extent that there is a
material risk that the financial condition could have a material impact
on its ability to comply with the provisions relating to the repurchase
obligations for those assets or otherwise materially impact the pool.
    11. Amend Sec.  229.1105 by:
    a. Adding introductory text;
    b. Revising paragraph (a)(3)(ii);
    c. Adding an instruction to paragraph (a)(3)(ii);
    d. Adding new paragraph (a)(3)(iv); and
    e. Revising paragraph (c).
    The revisions and additions read as follows:

Sec.  229.1105  (Item 1105) Static pool information.

    Describe the static pool information presented. Provide appropriate
introductory and explanatory information to introduce the
characteristics, the methodology used in determining or calculating the
characteristics and any terms or abbreviations used. Include a
description of how the static pool differs from the pool underlying the
securities being offered. In addition to a narrative description, the
static pool information should be presented graphically if doing so
would aid in understanding.
    (a) * * *
    (3) * * *
    (ii) Present delinquency, cumulative loss and prepayment data for
each prior securitized pool or vintage origination year, as applicable,
over the life of the prior securitized pool or vintage origination
year. The most recent periodic increment for the data must be as of a
date no later than 135 days after the date of first use of the
prospectus.
    Instruction to Item 1105(a)(3)(ii). Refer to Item 1100(b) of this
Regulation AB for presentation of historical delinquency and loss
information.
* * * * *
    (iv) Provide graphical illustration of delinquencies, prepayments
and losses for each prior securitized pool or by vintage origination
year regarding originations or purchases by the sponsor, as applicable
for that asset type.
* * * * *
    (c) If the information that would otherwise be required by
paragraph (a)(1), (a)(2) or (b) of this section is not material, but
alternative static pool information would provide material disclosure,
provide such alternative information instead. Similarly, information
contemplated by paragraph (a)(1), (a)(2) or (b) of this section
regarding a party or parties other than the sponsor may be provided in
addition to or in lieu of such information regarding the sponsor if
appropriate to provide material disclosure. In addition, provide other
explanatory disclosure, including why alternative disclosure is being
provided and explain the absence of any static pool information
contemplated by paragraphs (a)(1), (a)(2) or (b) of this section, as
applicable.
* * * * *
    12. Amend Sec.  229.1106 by adding paragraph (d) to read as
follows:

Sec.  229.1106  (Item 1106) Depositors.

* * * * *
    (d) Any failure in the last year of an issuing entity established
by the depositor or any affiliate of the depositor to file or file in a
timely manner an Exchange Act report that was required either by rule
or by virtue an undertaking pursuant to Item 512 of Regulation S-K (17
CFR 229.512).
    13. Amend Sec.  229.1108 by:
    a. Revising in paragraph (a)(3) the phrase ``(c) and (d)'' to read
``(c), (d), and (e)'';
    b. Removing paragraph (c)(6);
    c. Redesignating paragraphs (c)(7) and (c)(8) as paragraphs (c)(6)
and (c)(7); and
    d. Adding paragraph (e).
    New paragraph (e) reads as follows:

Sec.  229.1108  (Item 1108) Servicers.

* * * * *
    (e) Describe any interest that the servicer has retained in the
transaction, including amount and nature of that interest.
    14. Amend Sec.  229.1110 by:
    a. Revising paragraph (a);
    b. Adding paragraph (b)(3); and
    c. Adding paragraph (c).
    The revision and additions read as follows:

Sec.  229.1110  (Item 1110) Originators.

    (a) Identify any originator or group of affiliated originators,
apart from the sponsor or its affiliates, provided, however,
identification of an originator is not required if such originator has
originated, or is expected to originate, less than 10% of the pool
assets and the cumulative amount of originated assets by parties other
than the sponsor (or its affiliates) comprises less than 10% of the
total pool assets.
    (b) * * *
    (3) Describe any interest that the originator has retained in the
transaction, including amount and nature of that interest.
    (c) For any originator identified under paragraph (b) of this
section, if such originator is required to repurchase or replace a pool
asset for breach of a representation and warranty pursuant to the
transaction agreements, provide the following information:
    (1) On a pool by pool basis, the amount, if material, of the
publicly securitized assets originated or sold by the originator that
were the subject of a demand to repurchase or replace for breach of the
representations and warranties concerning the pool assets that has been
made in the prior three years pursuant to the transaction agreements.
Provide the percentage of that amount that were not then repurchased or
replaced by the originator. Of those assets that were not then
repurchased or replaced, disclose whether an opinion of a third party
not affiliated with the originator had been furnished to the trustee
that confirms that the assets did not violate the representations and
warranties.
    (2) The originator's financial condition to the extent that there
is a material risk that the financial condition could have a material
impact on the origination of the originator's assets in the pool or on
its ability to comply with the provisions relating to the repurchase
obligations for those assets.
    15. Amend Sec.  229.1111 by:
    a. Revising paragraph (a)(3);
    b. Redesignating paragraphs (a)(5) and (a)(6) and Instruction to
Item 1111(a)(6) as paragraphs (a)(6) and (a)(7) and Instruction to Item
1111(a)(7);
    c. Adding new paragraph (a)(5);
    d. Revising paragraph (e); and
    e. Adding paragraphs (h) and (i).
    The additions and revisions read as follows:

Sec.  229.1111  (Item 1111) Pool assets.

* * * * *
    (a) * * *
    (3) A description of the solicitation, credit-granting or
underwriting criteria used to originate or purchase the pool

assets, including any changes in such criteria and the extent to which
such policies and criteria are or could be overridden. Disclosure on
the underwriting of assets that deviate from the disclosed criteria
must be accompanied by data on the amount and characteristics of those
assets that did not meet the disclosed standards. If disclosure is
provided regarding compensating or other factors, if any, that were
used to determine that those assets should be included in the pool,
despite not having met the disclosed underwriting standards, describe
those factors and provide data on the amount of assets in the pool that
are represented as meeting those factors and the amount of assets that
do not meet those factors.
* * * * *
    (5) The steps undertaken by the originator to verify the
information used in the solicitation, credit-granting or underwriting
of the pool assets.
* * * * *
    (e) Representations and warranties and modification provisions
relating to the pool assets. Provide the following information:
    (1) Representations and warranties. (i) Summarize any
representations and warranties made concerning the pool assets by the
sponsor, transferor, originator or other party to the transaction, and
describe briefly the remedies available if those representations and
warranties are breached, such as repurchase obligations.
    (ii) Describe any representation and warranty relating to fraud in
the origination of the assets. If none, so state.
    (2) Modification provisions. Describe any provisions in the
transaction agreements governing the modification of the terms of any
asset, including how modification may affect cash flows from the assets
or to the securities.
* * * * *
    (h) Asset-level information. Provide asset-level information for
each asset in the pool in a manner specified in Schedule L (Sec.
229.1111A). This paragraph (h) does not apply to issuers of asset-
backed securities backed primarily by receivables due on credit cards,
charge cards or stranded costs. State in the prospectus that the
information provided in response to this subparagraph and Schedule L is
provided as a machine-readable data file filed with the Securities and
Exchange Commission on its Web site at www.sec.gov. Identify the CIK
and file number.
    (1) If the information is part of a prospectus filed with a
registration statement on Form SF-1 (Sec.  239.44) or in accordance
with Rule 424(h) (Sec.  230.424(h)), provide the information as of a
measurement date, unless otherwise specified. For purposes of this
subparagraph, the measurement date is a date designated by the
registrant that is as recent as practicable.
    (2) If the information is part of a final prospectus meeting the
requirements of section 10(a) of the Securities Act (15 U.S.C.
77j(a)(a)) filed in accordance with Rule 424(b) (Sec.  230.424(b)),
provide the information as of the cut-off date as specified in the
instruments governing the transaction (i.e., the date on and after
which collections on the pool assets accrue for the benefit of the
asset-backed security holders).
    (3) If the information is part of a report filed on Form 8-K
(referenced in Sec.  249.308) in accordance with Item 6.05, provide the
information as of the cut-off date as specified in the instruments
governing the transaction, unless otherwise specified.
    (i) Credit card pool information. If the asset-backed securities
are backed primarily by receivables due on credit cards or charge
cards, provide the information for the underlying pool in a manner
specified in Schedule CC (Sec.  229.1111B). State in the prospectus
that the information provided in response to this subparagraph and
Schedule CC is provided as a machine-readable data file filed with the
Securities and Exchange Commission on its website at www.sec.gov.
Identify the CIK of the issuer and file number.
    (1) If the information is part of a prospectus filed in accordance
with Rule 424(h) (Sec.  230.424(h)), or if the information is part of a
final prospectus meeting the requirements of section 10(a) of the
Securities Act (15 U.S.C. 77j(a)(a)) filed in accordance with Rule
424(b) (Sec.  230.424(b)), provide the information as of a measurement
date. Identify the measurement date in the prospectus. For purposes of
this paragraph, the measurement date is a date designated by the
registrant that is as recent as practicable.
    (2) If the information is part of a report filed on Form 8-K
(referenced in Sec.  249.308) in accordance with Item 6.05, provide the
information as of a measurement date.
    16. Add Sec.  229.1111A to read as follows:

Sec.  229.1111A  (Item 1111A) Asset-level information.

Schedule L

    Note A. Submit the disclosures as an Asset Data File (as defined
in Sec.  232.11 of this chapter) in the format required by the EDGAR
Filer Manual. See Rule 301 of Regulation S-T (Sec.  232.301 of this
chapter).
    Instruction. The following definitions apply to the terms used
in this schedule unless otherwise specified:
    MI. Mortgage insurance.
    Underwritten. The amount of revenues or expenses adjusted based
on a number of assumptions made by the mortgage originator or
seller.
    Item 1. General. Provide the following data for each asset in
the asset pool:
    (a) Information related to the asset. (1) Asset number type.
Identify the source of the asset number used to specifically
identify each asset in the pool.
    Instruction to Item 1(a)(1). Asset number types that will
satisfy the requirements of this subparagraph may be generated by
organizations such as CUSIP Global Services (CUSIP), the American
Securitization Forum (ASF Universal Link) or MERS (Mortgage
Identification Number); by the registrant; or by using the
convention ``[CIK number]--[Sequential asset number]''.
    (2) Asset number. Provide the unique ID number of the asset.
    Instruction to Item 1(a)(2). The asset number should be the same
number that will be used to identify the asset for all reports that
would be required of an issuer under Sections 13(a) or 15(d) of the
Exchange Act.
    (3) Asset group number. For structures with multiple collateral
groups, indicate the collateral group number in which the asset
falls.
    (4) Originator. Identify the name or MERS organization number of
the originator entity. If the asset is a security, identify the name
of the issuer.
    (5) Origination date. Provide the date of asset origination. For
revolving asset master trusts, provide the origination date of the
receivable that will be added to the asset pool.
    (6) Original asset amount. Indicate the dollar amount of the
asset at the time of origination.
    (7) Original asset term. Indicate the initial number of months
between asset origination and the asset maturity date.
    (8) Asset maturity date. Indicate the month and year in which
the final payment on the asset is scheduled to be made.
    (9) Original amortization term. Indicate the number of months in
which the asset would be retired if the amortizing principal and
interest payment were to be paid each month.
    (10) Original interest rate. Provide the rate of interest at the
time of origination of the asset.
    (11) Interest type. Indicate whether the interest rate
calculation method is simple or actuarial.
    (12) Amortization type. Indicate whether the interest rate on
the asset is fixed or adjustable.
    (13) Original interest only term. Indicate the number of months
in which the obligor is permitted to pay only interest on the asset.
    (14) First payment date. Provide the date of the first scheduled
payment.
    (15) Primary servicer. Identify the name or MERS organization
number of the entity that services or will have the right to service
the asset.

    (16) Servicing fee--percentage. If the servicing fee is based on
a percentage, indicate the percentage of monthly servicing fee paid
to all servicers as a percentage of the Original Contract Amount.
    (17) Servicing fee--flat-dollar. If the servicing fee is based
on a flat-dollar amount, indicate the monthly servicing fee paid to
all servicers as a dollar amount.
    (18) Servicing advance methodology. Indicate the code that
describes the manner in which principal and/or interest are to be
advanced by the servicer.
    (19) Defined underwriting indicator. Indicate yes or no whether
the loan or asset was made as an exception to a defined and/or
standardized set of underwriting criteria.
    (20) Measurement date. The date the loan or asset-level data is
provided in accordance with Item 1111(h)(1) of Regulation AB (Sec.
229.1111(h)(1)).
    (b) Updated information as of the cut-off date. (1) Cut-off
date. Indicate the date on and after which collections on the pool
assets accrue for the benefit of the asset-backed security holders.
    (2) Current asset balance. Indicate the outstanding principal
balance of the asset as of the cut-off date.
    (3) Current interest rate. Indicate the interest rate in effect
on the asset as of the cut-off date.
    (4) Current payment amount due. Indicate the next total payment
due to be collected.
    (5) Current delinquency status. Indicate the number of days the
obligor is delinquent as determined by the governing transaction
agreement.
    (6) Number of days payment is past due. If an obligor has not
made the full scheduled payment, indicate the number of days between
the scheduled payment date and the cut-off date.
    (7) Current payment status. Indicate the number of payments the
obligor is past due as of the cut-off date. A payment is considered
past due if it has not been received by the end of the day
immediately preceding the next due date.
    (8) Remaining term to maturity. Indicate the number of months
between the cut-off date and the asset maturity date.
    Item 2. Residential mortgages. If the asset pool contains
residential mortgages, provide the following data for each loan in
the asset pool:
    (a) Information related to the loan.
    (1) Loan purpose. Specify the code which describes the purpose
of the loan.
    (2) Lien position. Indicate the code that describes the lien
position for the loan.
    (3) Prepayment penalty indicator. Indicate yes or no as to
whether the obligor is subject to prepayment penalties.
    (4) Negative amortization indicator. Indicate yes or no as to
whether the loan allows negative amortization.
    (5) Mortgage modification indicator. Indicate yes or no as to
whether the loan has been modified.
    (6) Mortgage insurance requirement indicator. Indicate yes or no
as to whether the mortgage insurance is or was required as a
condition for originating the loan.
    (7) Balloon indicator. Indicate yes or no as to whether the loan
documents require a lump-sum payment of principal at maturity.
    (8) Cash out amount. Provide the amount of cash the obligor will
receive at the closing of the loan on a refinance transaction.
    (9) Broker. Indicate yes or no as to whether a broker originated
or was involved in the origination of the loan.
    (10) Channel. Specify the code that describes the source from
which the Issuer obtained the loan.
    (11) NMLS loan originator number. Specify the National Mortgage
License System registration number of the loan originator.
    (12) NMLS loan origination company number. Specify the National
Mortgage License System registration number of the company that
originated the loan.
    (13) Buy down period. Indicate the total number of months during
which any buy down is in effect, representing the accumulation of
all buy down periods.
    (14) Interest paid through date. Provide the date through which
interest is paid with the current payment, which is the effective
date from which interest will be calculated for the application of
the next payment.
    (15) Loan delinquency advance days count. Indicate the number of
days after which a servicer can stop advancing funds on a delinquent
loan.
    (16) Junior mortgage balance. For first mortgages with
subordinate liens at the time of origination, provide the amount of
the combined balance of the subordinate liens.
    (17) Information related to junior liens. If the loan is not a
first mortgage, provide the following additional information for
each non-first mortgage:
    (i) Senior loan amount(s). For non-first mortgages, provide the
total amount of the balances of all associated senior mortgages at
the time of origination of the subordinate lien.
    (ii) Loan type of most senior lien. For non-first mortgages,
indicate the code that describes the loan type of the first
mortgage.
    (iii) Hybrid period of most senior lien. For non-first mortgages
where the associated first mortgage is a hybrid ARM, provide the
number of months remaining in the initial fixed interest rate period
for the first mortgage.
    (iv) Negative amortization limit of most senior lien. For non-
first mortgages where the associated first mortgage features
negative amortization, indicate the negative amortization limit of
the mortgage as a percentage of the original unpaid principal
balance.
    (v) Origination date of most senior lien. For non-first
mortgages, provide the origination date of the associated first
mortgage.
    (18) Information related to ARMs. If the loan is an ARM, provide
the following additional information for each loan:
    (i) ARM index. Specify the code that describes the index on
which an adjustable interest rate is based.
    (ii) ARM margin. Indicate the number of percentage points that
is added to the current index value to establish the new note rate
at each interest rate adjustment date.
    (iii) Fully indexed interest rate. Indicate the fully indexed
interest rate.
    (iv) Initial fixed rate period for hybrid ARM. If the interest
rate is initially fixed for a period of time, indicate the number of
months between the first payment date of the mortgage and the first
interest rate adjustment date.
    (v) Initial interest rate decrease. Indicate the maximum
percentage by which the mortgage note rate may decrease at the first
interest rate adjustment date.
    (vi) Initial interest rate increase. Indicate the maximum
percentage by which the mortgage note rate may increase at the first
interest rate adjustment date.
    (vii) Index lookback. Provide the number of days prior to an
interest rate effective date used to determine the appropriate index
rate.
    (viii) Subsequent interest rate reset period. Indicate the
number of months between subsequent rate adjustments.
    (ix) Lifetime rate ceiling. Indicate the percentage of the
maximum interest rate that can be in effect during the life of the
loan.
    (x) Lifetime rate floor. Indicate the percentage of the minimum
interest rate that can be in effect during the life of the loan.
    (xi) Next adjustment date. Provide the next scheduled date on
which the mortgage note rate adjusts.
    (xii) Subsequent interest rate decrease. Provide the maximum
percentage by which the interest rate may decrease at each rate
adjustment date after the initial adjustment.
    (xiii) Subsequent interest rate increase. Provide the maximum
percentage by which the interest rate may increase at each rate
adjustment date after the initial adjustment.
    (xiv) Subsequent payment reset period. Indicate the number of
months between payment adjustments after the first interest rate
adjustment date.
    (xv) ARM round indicator. Indicate the code that describes
whether an adjusted interest rate is rounded to the next higher
adjustable rate mortgage round factor, to the next lower round
factor, or to the nearest round factor.
    (xvi) ARM round percentage. Indicate the percentage to which an
adjusted interest rate is to be rounded.
    (xvii) Option ARM indicator. Indicate yes or no as to whether
the loan is an Option ARM.
    (xviii) Payment method after recast. Specify the code that
describes the means of computing the lowest monthly payment
available to the obligor after recast.
    (xix) Initial minimum payment. Provide the amount of the initial
minimum payment the obligor is permitted to make.
    (xx) Convertible indicator. Indicate yes or no as to whether the
obligor of the loan has an option to convert an adjustable interest
rate to a fixed interest rate during a specified conversion window.
    (xxi) HELOC indicator. Indicate yes or no as to whether the loan
is a Home Equity Line of Credit (HELOC).
    (xxii) HELOC draw period. Indicate the original maximum number
of months during which the obligor may draw funds against the HELOC
account.
    (19) Information related to prepayment penalties. If the obligor
is subject to prepayment penalties, provide the following additional
information for each loan:
    (i) Prepayment penalty calculation. Specify the code that
describes the method for calculating the prepayment penalty for the
loan.

    (ii) Prepayment penalty type. Specify the code that describes
the type of prepayment penalty.
    (iii) Prepayment penalty total term. Provide the total number of
months that the prepayment penalty may be in effect.
    (20) Information related to negative amortization. If the loan
allows for negative amortization, provide the following additional
information for each loan:
    (i) Negative amortization limit. Specify the maximum dollar
amount of negative amortization that is allowed before it is
required to recalculate the fully amortizing payment based on the
new loan balance.
    (ii) Initial negative amortization recast period. Indicate the
number of months in which negative amortization is allowed.
    (iii) Subsequent negative amortization recast period. Indicate
the number of months after which the payment is required to recast
after the first recast period.
    (iv) Current negative amortization balance amount. Provide the
amount of the current negative amortization balance accumulated.
    (v) Initial fixed payment period. Indicate the number of months
after the origination of the loan during which the payment is fixed.
    (vi) Initial periodic payment cap. Indicate the maximum
percentage by which a payment can change (increase or decrease) in
the first period.
    (vii) Subsequent periodic payment cap. Indicate the maximum
percentage by which a payment can change (increase or decrease) in
one period after the initial cap.
    (viii) Initial minimum payment reset period. Provide the maximum
number of months an obligor can initially pay the minimum payment
before a new minimum payment is determined.
    (ix) Subsequent minimum payment reset period. Provide the
maximum number of months an obligor can pay the minimum payment
before a new minimum payment is determined after the initial period.
    (x) Current minimum payment. Provide the amount of current
minimum payment.
    (21) Information related to modifications. If the loan has been
modified, provide information related to the most recent
modification.
    (i) Number of modifications. Provide the number of times that
the loan has been modified.
    (ii) Loan modification event type. Specify the code that
describes the type of action that has modified the loan terms.
    (iii) Loan modification effective date. Provide the date on
which the modification of the loan has gone into effect.
    (iv) Updated DTI (front-end). Provide the updated front-end DTI
ratio, calculated by dividing the total monthly housing expense by
total monthly income.
    (v) Updated DTI (back-end). Provide the updated back-end DTI
ratio, calculated by dividing the total monthly debt expense by the
total monthly income.
    (vi) Modification effective payment date. Indicate the date of
the first payment due after the loan modification.
    (vii) Total capitalized amount. Provide the amount added to the
principal balance of a loan due to the modification.
    (viii) Total deferred amount. Provide the deferred amount that
is non-interest bearing.
    (ix) Pre-modification interest rate. Provide the most recent
scheduled interest rate preceding the Modification Effective Payment
Date.
    (x) Pre-modification principal and interest payment. Provide the
most recent scheduled total principal and interest payment amount
preceding the Modification Effective Payment Date.
    (xi) Forgiven principal amount. Provide the total amount of all
principal balance reductions as a result of loan modification over
the life of the loan.
    (xii) Forgiven interest amount. Provide the total amount of all
interest forgiven as a result of loan modification over the life of
the loan.
    (b) Information related to the property.
    (1) Geographic location. Specify the location of the property by
providing the Metropolitan Statistical Area, Micropolitan
Statistical Area, or Metropolitan Division, as applicable.
    (2) Occupancy status. Specify the code that describes the
property occupancy status.
    (3) Sales price. Provide the negotiated price of a given
property between the buyer and seller.
    (4) Property type. Specify the code that describes the type of
property that secures the loan.
    (5) Original appraised property value. Provide the appraised
value amount of the property used to approve the loan.
    (6) Original property valuation type. Specify the code that
describes the method by which the property value was reported at the
time of underwriting.
    (7) Original property valuation date. Specify the date on which
the original property value was reported.
    (8) Original automated valuation model (AVM) model name. Provide
the code that indicates the name of the AVM model if an AVM was used
to determine the original property valuation.
    (9) Original AVM confidence score. Provide the confidence score
presented on the AVM report of the original property value.
    (10) Most recent property value. If an additional property
valuation was obtained after the Original Appraised Property Value,
provide the most recent property value.
    (11) Most recent property valuation type. Specify the code that
describes the method by which the Most Recent Property Value was
reported.
    (12) Most recent property valuation date. Specify the date on
which the Most recent property value was reported.
    (13) Most recent AVM model name. Provide the code indicating the
name of the AVM model if an AVM was used to determine the most
recent property value.
    (14) Most recent AVM confidence score. Provide the confidence
score presented on the AVM report of the most recent property value.
    (15) Original combined loan-to-value (CLTV). Provide the ratio
obtained by dividing the amount of all known outstanding mortgage
liens on a property at origination by the lesser of the original
appraised property value or the sales price.
    (16) Original loan-to-value (LTV). Provide the ratio obtained by
dividing the amount of the original mortgage loan at origination by
the lesser of the original appraised property value or the sales
price.
    (17) LTV calculation date. Provide the date on which the LTV was
calculated.
    (18) Original pledged assets. If the obligor pledged financial
assets to the lender instead of making a down payment, provide the
total value of assets pledged as collateral for the loan at the time
of origination.
    (19) Information related to manufactured homes. If loans in the
pool are collateralized by manufactured homes, provide the following
additional information:
    (i) Real estate interest. Indicate the code that describes the
real estate interest of the property on which the manufactured home
is situated.
    (ii) Community ownership structure. If the manufactured home is
situated in a community, specify the code that describes the
ownership of the community.
    (iii) Year of manufacture. Indicate the year in which the home
was manufactured.
    (iv) HUD code compliance indicator. Indicate yes or no as to
whether the home was constructed in accordance with the 1976 HUD
code.
    (v) Gross manufacturer's invoice price. Provide the total amount
that appears on the manufacturer's invoice of the home.
    (vi) LTI (loan-to-invoice) gross. Provide the ratio of the loan
amount divided by the gross manufacturer's invoice price.
    (vii) Net manufacturer's invoice price. Provide the amount of
the gross manufacturer's invoice price minus intangible costs,
including: Transportation, association, on-site setup, service, and
warranty costs, taxes, dealer incentives, and other fees.
    (viii) LTI (Net). Provide the ratio of the loan amount divided
by the net manufacturer's invoice price.
    (ix) Manufacturer name. Provide the name of the manufacturer of
the subject property.
    (x) Model name. Provide the model name of the subject property.
    (xi) Down payment source. Indicate the code that describes the
source of the down payment.
    (xii) Community/related party lender indicator. Indicate the
code describing 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.
    (xiii) Chattel indicator. Specify the code indicating whether
the secured property is classified as chattel or real estate.
    (c) Information related to the obligor.
    (1) Obligor credit score type. Specify the type of the
standardized credit score used to evaluate the obligor.
    (2) Obligor credit score. Provide the standardized credit score
of the obligor. If the credit score type is FICO, skip to Item
2(c)(3).
    (3) Obligor FICO score. If the obligor credit score type is
FICO, provide the standardized FICO credit score of the obligor.
    (4) Co-obligor credit score type. Specify the type of the
standardized credit score used to evaluate the co-obligor.
    (5) Co-obligor credit score. Provide the standardized credit
score of the co-obligor. If the credit score type is FICO, skip to
Item 2(c)(6).

    (6) Co-obligor FICO score. Provide the standardized FICO credit
score of the co-obligor.
    (7) Obligor income verification level. Indicate the code
describing the extent to which the obligor's income has been
verified.
    (8) Co-obligor income verification. Indicate the code describing
the extent to which the co-obligor's income has been verified.
    (9) Obligor employment verification. Indicate the code
describing the extent to which the obligor's employment has been
verified.
    (10) Co-obligor employment verification. Indicate the code
describing the extent to which the co-obligor's employment has been
verified.
    (11) Obligor asset verification. Indicate the code describing
the extent to which the obligor's assets used to qualify the loan
have been verified.
    (12) Co-obligor asset verification. Indicate the code describing
the extent to which the co-obligor's assets used to qualify the loan
have been verified.
    (13) Liquid/cash reserves. Provide the dollar amount of
remaining verified liquid assets after the close of the mortgage.
    (14) Number of mortgaged properties. Provide the number of
properties owned by the obligor that currently secure mortgage
loans.
    (15) Monthly debt. Provide the dollar amount of the aggregate
monthly payment due on other debt of the obligor.
    (16) Originator DTI. Provide the total debt to income ratio used
by the originator to qualify the loan.
    (17) Qualification method. Specify the code that describes type
of mortgage payment used to qualify the obligor for the loan.
    (18) Percentage of down payment from obligor own Funds. Provide
the percentage of down payment from obligor own funds other than any
gift or borrowed funds.
    (19) Number of obligors. Indicate the number of obligors who are
obligated to repay the mortgage note.
    (20) Self-employment flag. Indicate whether the obligor is self-
employed.
    (21) Current other monthly payment. Provide the total amount per
month of all payments pertaining to the subject property other than
principal and interest.
    (22) Length of employment: Obligor. Provide the number of
complete months of service with the obligor's current employer as of
the origination date.
    (23) Length of employment: Co-obligor. Provide the number of
complete months of service with the co-obligor's current employer as
of the origination date.
    (24) Months bankruptcy. Provide the number of months since any
obligor was discharged from bankruptcy.
    (25) Months foreclosure. If the obligor has directly or
indirectly been obligated on any loan that resulted in foreclosure,
provide the number of months since the foreclosure date.
    (26) Obligor wage income. Provide the dollar amount per month of
income associated with the obligor's employment.
    (27) Co-obligor wage income. Provide the dollar amount per month
of income associated with the co-obligor's employment.
    (28) Obligor other income. Provide the dollar amount of the
obligor's monthly income other than Obligor Wage Income.
    (29) Co-obligor other income. Provide the dollar amount of the
co-obligor's monthly income other than co-obligor wage income.
    (30) All obligor wage income. Provide the monthly income of all
obligors derived from employment.
    (31) All obligor total income. Provide the monthly income of all
obligors.
    (d) Information related to mortgage insurance. If mortgage
insurance is required on the mortgage, provide the following
additional information:
    (1) Mortgage insurance company name. Provide the name of the
entity providing mortgage insurance for the loan.
    (2) Mortgage insurance coverage. Indicate the percentage of
mortgage insurance coverage obtained.
    (3) Mortgage insurance obtainer. Specify the code that describes
the party that paid for the mortgage insurance: The obligor, the
lender, or others.
    (4) Pool insurance company. Provide the name of the pool
insurance provider.
    (5) Pool insurance stop loss percent. Provide the aggregate
amount that the pool insurance company will pay, calculated as a
percentage of the pool balance.
    (6) Mortgage insurance certificate number. Provide the number
assigned to the individual loan by the mortgage insurance company.
    (7) Mortgage insurance coverage plan type. Specify the code that
describes coverage category of mortgage insurance applicable to the
loan.
    Item 3. Commercial mortgages. If the asset pool contains
commercial mortgages, provide the following data for each loan in
the asset pool:
    (a) Information related to the loan.
    (1) Lien position. Indicate the code that describes the lien
position for the loan.
    (2) Loan structure. Indicate the code that describes the type of
loan structure including the seniority of participated mortgage loan
components. The code relates to loan within securitization.
    (3) Current remaining term. Provide the number of months until
the earlier of the scheduled loan maturity or the current
hyperamortizing date.
    (4) Payment type. Indicate the code that describes the type or
method of payment for a loan.
    (5) Periodic principal and interest payment. Provide the total
amount of principal and interest due on the loan in effect as of the
closing date of the transaction.
    (6) Payment frequency. Indicate the code that describes the
frequency mortgage loan payments are required to be made.
    (7) Number of properties. Provide the current number of
properties which serve as mortgage collateral for the loan.
    (8) Grace days allowed. Provide the number of days after a
mortgage payment is due in which the lender will not require a late
payment charge in accordance with the loan documents. Does not
include penalties associated with default interest.
    (9) Current hyper-amortizing date. Provide the current
anticipated repayment date, after which principal and interest may
amortize at an accelerated rate, and/or interest expense to
mortgagor increases substantially as per the loan documents.
    (10) Interest only indicator. Indicate yes or no as to whether
or not this is a loan for which scheduled interest only is payable,
whether for a temporary basis or until the full loan balance is due.
    (11) Balloon indicator. Indicate yes or no as to whether the
loan documents require a lump-sum payment of principal at maturity.
    (12) Prepayment penalty indicator. Indicate yes or no as to
whether the obligor is subject to prepayment penalties.
    (13) Negative amortization indicator. Indicate yes or no whether
negative amortization (interest shortage) amounts are permitted to
be added back to the unpaid principal balance of the loan if monthly
payments should fall below the true amortized amount.
    (14) Mortgage modification indicator. Indicate yes or no whether
the loan has been modified.
    (15) Information related to ARMs. If the loan is an ARM, provide
the following additional information for each loan:
    (i) ARM index. Specify the code that describes the index on
which an adjustable interest rate is based.
    (ii) First rate adjustment date. Provide the date on which the
first interest rate adjustment becomes effective.
    (iii) First payment adjustment date. Provide the date on which
the first adjustment to the regular payment amount becomes effective
(after the contribution/cut-off date).
    (iv) ARM margin. Indicate the number of percentage points that
is added to the current index value to establish the new note rate
at each interest rate adjustment date.
    (v) Lifetime rate ceiling. Indicate the percentage of the
maximum interest rate that can be in effect during the life of the
loan.
    (vi) Lifetime rate floor. Indicate the percentage of the minimum
interest rate that can be in effect during the life of the loan.
    (vii) Periodic rate increase. Provide the maximum percentage the
interest rate can increase from any period to the next.
    (viii) Periodic rate decrease. Provide the maximum percentage
the interest rate can decrease from any period to the next.
    (ix) Periodic pay adjustment. Provide the maximum dollar amount
the principal and interest constant can increase or decrease on any
adjustment date.
    (x) Periodic pay adjustment. Provide the maximum percentage
amount the principal and interest constant can increase or decrease
from any period to the next.
    (xi) Rate reset frequency. Indicate the code describing the
frequency which the periodic mortgage rate is reset due to an
adjustment in the ARM index.
    (xii) Pay reset frequency. Indicate the code describing the
frequency which the periodic mortgage payment will be adjusted.
    (xiii) Index look back. Provide the number of days prior to an
interest rate adjustment effective date used to determine the
appropriate index rate.
    (16) Information related to prepayment penalties. If the obligor
is subject to

prepayment penalties, provide the following additional information
for each loan:
    (i) Prepayment lock-out end date. Provide the effective date
after which the lender allows prepayment of a loan.
    (ii) Yield maintenance end date. Provide the date after which
yield maintenance prepayment penalties are no longer effective.
    (iii) Prepayment premium end date. Provide the effective date
after which prepayment premiums are no longer effective.
    (17) Information related to negative amortization. If the loan
allows for negative amortization, provide the following additional
information for each loan:
    (i) Maximum negative amortization allowed (% of original
balance). Provide the maximum percentage of the original loan
balance that can be added to the original loan balance as the result
of negative amortization.
    (ii) Maximum negative amortization allowed ($). Provide the
maximum dollar amount of the original loan balance that can be added
to the original loan balance as the result of negative amortization.
    (b) Information related to the property. Provide the following
information for each of the properties that collateralizes a loan
identified above.
    (1) Property name. Provide the name of the property which serves
as mortgage collateral. If the property has been defeased, then
populate with ``defeased.''
    (2) Geographic location. Specify the location of the property by
providing the zip code.
    (3) Property type. Indicate the code that describes how the
property is being used.
    (4) Net rentable square feet. Provide the net rentable square
feet area of a property.
    (5) Number of units/beds/rooms. Provide the number of units/
beds/rooms of a property.
    (6) Year built. Provide the year that the property was built.
    (7) Valuation amount. The valuation amount of the property as of
the valuation date.
    (8) Valuation source. Specify the code that identifies the
source of the most recent property valuation.
    (9) Valuation date. The date the valuation amount was
determined.
    (10) Physical occupancy. Provide the percentage of rentable
space occupied by tenants. Should be derived from a rent roll or
other document indicating occupancy.
    (11) Revenue. Provide the total underwritten revenue amount from
all sources for a property.
    (12) Operating expenses. Provide the total underwritten
operating expenses. Include real estate taxes, insurance, management
fees, utilities, and repairs and maintenance.
    (13) Defeasance option start date. Provide the date when the
defeasance option becomes available.
    (14) Net operating income. Provide the total underwritten
revenues less total underwritten operating expenses prior to
application of mortgage payments and capital items for all
properties.
    (15) Net cash flow. Provide the total underwritten revenue less
the total underwritten operating expenses and capital costs.
    (16) NOI/NCF indicator. Indicate the code that describes how net
operating income and net cash flow were calculated.
    (17) DSCR (NOI). Provide the ratio of underwritten net operating
income to debt service.
    (18) DSCR (NCF). Provide the ratio of underwritten net cash flow
to debt service.
    (19) DSCR indicator. Indicate the code that describes how DSCR
was calculated.
    (20) Largest tenant. Identify the tenant that leases the largest
square feet of the property (based on the most recent annual lease
rollover review).
    (21) Square feet of largest tenant. Provide total square feet
leased by the largest tenant.
    (22) Lease expiration of largest tenant. Provide the date of
lease expiration for the largest tenant.
    (23) Second largest tenant. Identify the tenant that leases the
second largest square feet of the property (based on the most recent
annual lease rollover review).
    (24) Square feet of second largest tenant. Provide total square
feet leased by the second largest tenant.
    (25) Lease expiration of second largest tenant. Provide the date
of lease expiration for the second largest tenant.
    (26) Third largest tenant. Identify the tenant that leases the
third largest square feet of the property (based on the most recent
annual lease rollover review).
    (27) Square feet of third largest tenant. Provide total square
feet leased by the third largest tenant.
    (28) Lease expiration of third largest tenant. Provide the date
of lease expiration for the third largest tenant.
    Item 4. Automobile loans. If the asset pool contains vehicle
loans, provide the following data for each loan in the asset pool:
    (a) Information related to the loan.
    (1) Payment type. Specify the code indicating whether payments
are required monthly or if a balloon payment is due.
    (2) Subvented. Indicate yes or no as to whether a form of
subsidy is received on the loan, such as cash incentives or
favorable financing for the buyer.
    (b) Information related to the property.
    (1) Geographic location of dealer. Provide the zip code of the
originating dealer.
    (2) Vehicle manufacturer. Provide the name of the manufacturer
of the vehicle.
    (3) Vehicle model. Provide the name of the model of the vehicle.
    (4) New or used. Indicate whether the vehicle financed is new or
used.
    (5) Model year. Indicate the model year of the vehicle.
    (6) Vehicle type. Indicate the code describing the vehicle type.
    (7) Vehicle value. Indicate the value of the vehicle at the time
of origination.
    (8) Source of vehicle value. Specify the code that describes the
source of the vehicle value.
    (c) Information related to the obligor.
    (1) Obligor credit score type. Specify the type of the
standardized credit score used to evaluate the obligor.
    (2) Obligor credit score. Provide the standardized credit score
of the obligor. If the credit score type is FICO, skip to Item
4(c)(3).
    (3) Obligor FICO score. If the Obligor Credit Score Type is
FICO, provide the standardized FICO credit score of the obligor.
    (4) Co-Obligor credit score type. Specify the type of the
standardized credit score used to evaluate the co-obligor.
    (5) Co-Obligor credit score. Provide the standardized credit
score of the co-obligor. If the credit score type is FICO, skip to
Item 4(c)(6).
    (6) Co-Obligor FICO score. Provide the standardized FICO credit
score of the co-obligor.
    (7) Obligor income verification level. Indicate the code
describing the extent to which the obligor's income has been
verified.
    (8) Co-obligor income verification. Indicate the code describing
the extent to which the co-obligor's income has been verified.
    (9) Obligor employment verification. Indicate the code
describing the extent to which the obligor's employment has been
verified.
    (10) Co-obligor employment verification. Indicate the code
describing the extent to which the co-obligor's employment has been
verified.
    (11) Obligor asset verification. Indicate the code describing
the extent to which the obligor's assets used to qualify the loan
have been verified.
    (12) Co-obligor asset verification. Indicate the code describing
the extent to which the co-obligor's assets used to qualify the loan
have been verified.
    (13) Length of employment: obligor. Provide the number of
complete months of service with the obligor's current employer as of
the origination date.
    (14) Length of employment: co-obligor. Provide the number of
complete months of service with the co-obligor's current employer as
of the origination date.
    (15) Obligor wage income. Provide the dollar amount per month of
income associated with the obligor's employment.
    (16) Co-obligor wage income. Provide the dollar amount per month
of income associated with the co-obligor's employment.
    (17) Obligor other income. Provide the dollar amount of the
obligor's monthly income other than obligor wage income.
    (18) Co-obligor other income. Provide the dollar amount of the
co-obligor's monthly income other than Co-obligor wage income.
    (19) All obligor wage income. Provide the monthly income of all
obligors derived from employment.
    (20) All obligor total income. Provide the monthly income of all
obligors.
    (21) Geographic location of obligor. Specify the location of the
obligor by providing the Metropolitan Statistical Area, Micropolitan
Statistical Area, or Metropolitan Division, as applicable.
    Item 5. Automobile leases. If the asset pool contains automobile
leases, provide the following data for each lease in the asset pool:
    (a) Information related to the lease.
    (1) Payment type. Specify the code indicating whether payments
are required monthly or if a balloon payment is due.
    (2) Subvented. Indicate yes or no as to whether a form of
subsidy is received on the loan, such as cash incentives or
favorable financing for the obligor.

    (b) Information related to the property.
    (1) Geographic location of the dealer. Provide the zip code of
the originating dealer.
    (2) Vehicle manufacturer. Provide the name of the manufacturer
of the vehicle.
    (3) Vehicle model. Provide the name of the model of the vehicle.
    (4) New or used. Indicate whether the vehicle financed is new or
used.
    (5) Model year. Indicate the model year of the vehicle.
    (6) Vehicle type. Indicate code describing the vehicle type.
    (7) Vehicle value. Provide the dollar value of the vehicle at
the time of origination.
    (8) Source of vehicle value. Specify the code that describes the
source of the vehicle value.
    (9) Base residual value. Provide the residual value of the
vehicle at the time of origination.
    (10) Source of base residual value. Specify the code that
describes the source of the residual value.
    (c) Information related to the obligor.
    (1) Obligor credit score type. Specify the type of the
standardized credit score used to evaluate the obligor.
    (2) Obligor credit score. Provide the standardized credit score
of the obligor. If the credit score type is FICO, skip to Item
5(c)(3).
    (3) Obligor FICO score. If the obligor credit score type is
FICO, provide the standardized FICO credit score of the obligor.
    (4) Co-obligor credit score type. Specify the type of the
standardized credit score used to evaluate the co-obligor.
    (5) Co-obligor credit score. Provide the standardized credit
score of the co-obligor. If the credit score type is FICO, skip to
Item 5(c)(6).
    (6) Co-obligor FICO Score. Provide the standardized FICO credit
score of the co-obligor.
    (7) Obligor income verification level. Indicate the code
describing the extent to which the obligor's income has been
verified.
    (8) Co-obligor income verification. Indicate the code describing
the extent to which the co-obligor's income has been verified.
    (9) Obligor employment verification. Indicate the code
describing the extent to which the obligor's employment has been
verified.
    (10) Co-obligor employment verification. Indicate the code
describing the extent to which the co-obligor's employment has been
verified.
    (11) Obligor asset verification. Indicate the code describing
the extent to which the obligor's assets used to qualify the loan
have been verified.
    (12) Co-obligor asset verification. Indicate the code describing
the extent to which the co-obligor's assets used to qualify the loan
have been verified.
    (13) Length of employment: obligor. Provide the number of
complete months of service with the obligor's current employer as of
the origination date.
    (14) Length of employment: co-obligor. Provide the number of
complete months of service with the co-obligor's current employer as
of the origination date.
    (15) Obligor wage income. Provide the dollar amount per month of
income associated with the obligor's employment.
    (16) Co-obligor wage income. Provide the dollar amount per month
of income associated with the co-obligor's employment.
    (17) Obligor other income. Provide the dollar amount of the
obligor's monthly income other than obligor wage income.
    (18) Co-obligor other income. Provide the dollar amount of the
co-obligor's monthly income other than co-obligor wage income.
    (19) All obligor wage income. Provide the monthly income of all
obligors derived from employment.
    (20) All obligor total income. Provide the monthly income of all
obligors.
    (21) Geographic location of obligor. Specify the location of the
obligor by providing the Metropolitan Statistical Area, Micropolitan
Statistical Area, or Metropolitan Division, as applicable.
    Item 6. Equipment loans. If the asset pool contains equipment
loans, provide the following data for each loan in the asset pool:
    (a) Information related to the loan.
    (1) Payment frequency. Specify the code that describes the
payment frequency on the loan.
    (b) Information related to the property.
    (1) Equipment type. Indicate the code that describes the
equipment type.
    (2) New or used. Indicate whether the equipment financed is new
or used.
    (c) Information related to the obligor.
    (1) Obligor industry. Indicate the code that describes the
industry category of the obligor.
    (2) Geographic location of obligor. Provide the zip code of the
obligor.
    Item 7. Equipment leases. If the asset pool contains equipment
leases, provide the following data for each lease in the asset pool:
    (a) Information related to the lease.
    (1) Lease type. Indicate whether the lease is a true lease or a
finance lease.
    (2) Payment frequency. Indicate the code that describes the
payment frequency on the lease.
    (b) Information related to the property.
    (1) Equipment type. Indicate the code that describes the
equipment type.
    (2) New or used. Indicate whether the equipment financed is new
or used.
    (3) Residual value. Provide the residual value of the equipment
at the time of origination. For operating leases, provide the value
of the asset at the end of its useful economic life (i.e.,
``salvage'' or ``scrap value'').
    (4) Source of residual value. Specify the code that describes
the source of the residual value.
    (c) Information related to the obligor.
    (1) Obligor industry. Indicate the code that describes the
industry category of the obligor.
    (2) Geographic location of obligor. Provide the zip code of the
obligor.
    Item 8. Student loans. If the asset pool contains student loans,
provide the following data for each loan in the asset pool:
    (a) Information related to the loan.
    (1) Subsidized. Indicate whether the loan is subsidized or
unsubsidized.
    (2) Repayment type. Indicate code that describes the type of
loan repayment terms.
    (3) Year in repayment. If the loan is in repayment, indicate the
number of years the loan has been in repayment.
    (4) Guarantee agency. Specify the name of the agency
guaranteeing the loan.
    (5) Disbursement date. Indicate the date the loan was disbursed
to the obligor.
    (b) Information related to the obligor.
    (1) Current obligor payment status. Indicate the code describing
whether the obligor payment status is in-school, grace period,
deferral, forbearance or repayment.
    (2) Geographic location of obligor. Provide the Metropolitan
Statistical Area, Micropolitan Statistical Area, or Metropolitan
Division, as applicable of the obligor.
    (3) School type. Indicate code describing the type of school or
program.
    (c) Information about private student loans. If the loan was not
issued under a federally funded program provide the following for
each loan in the pool:
    (1) Obligor credit score type. Specify the type of the
standardized credit score used to evaluate the obligor.
    (2) Obligor credit score. Provide the standardized credit score
of the obligor. If the credit score type is FICO, skip to Item
8(c)(3).
    (3) Obligor FICO score. Provide the standardized FICO credit
score of the obligor.
    (4) Co-obligor credit score type. Specify the type of the
standardized credit score used to evaluate the co-obligor.
    (5) Co-obligor credit score. Provide the standardized credit
score of the co-obligor. If the credit score type is FICO, skip to
Item 8(c)(6).
    (6) Co-obligor FICO score. Provide the standardized credit score
of the co-obligor.
    (7) Obligor income verification level. Indicate the code
describing the extent to which the obligor's income has been
verified.
    (8) Co-obligor income verification. Indicate the code describing
the extent to which the co-obligor's income has been verified.
    (9) Obligor employment verification. Indicate the code
describing the extent to which the obligor's employment has been
verified.
    (10) Co-obligor employment verification. Indicate the code
describing the extent to which the co-obligor's employment has been
verified.
    (11) Obligor asset verification. Indicate the code describing
the extent to which the obligor's assets used to qualify the loan
have been verified.
    (12) Co-obligor asset verification. Indicate the code describing
the extent to which the co-obligor's assets used to qualify the loan
have been verified.
    (13) Length of employment: obligor. Provide the number of
complete months of service with the obligor's current employer as of
the origination date.
    (14) Length of employment: co-obligor. Provide the number of
complete months of service with the co-obligor's current employer as
of the origination date.
    (15) Obligor wage income. Provide the dollar amount per month of
income associated with the obligor's employment.
    (16) Co-obligor wage income. Provide the dollar amount per month
of income associated with the co-obligor's employment.
    (17) Obligor other income. Provide the dollar amount of the
obligor's monthly income other than obligor wage income.

    (18) Co-obligor other income. Provide the dollar amount of the
co-obligor's monthly income other than co-obligor wage income.
    (19) All obligor wage income. Provide the monthly income of all
obligors derived from employment.
    (20) All obligor total income. Provide the monthly income of all
obligors.
    Item 9. Floorplan financings. If the asset pool contains
receivables arising from floorplan financings, provide the following
data for each loan in the asset pool:
    (a) Information related to the loan.
    (1) Account origination date. Provide the date of account
origination.
    (b) Information related to the property.
    (1) Product line. Indicate the code describing the type of
inventory product line.
    (2) New or used. Indicate whether the collateral securing the
loan is new or used.
    (c) Information related to the obligor.
    (1) Credit score type. Specify the type of the standardized
credit score used to evaluate the obligor.
    (2) Credit score. Provide the standardized credit score of the
obligor.
    (3) Geographic location of obligor. Provide the zip code of the
obligor.
    (d) If the issuing entity is structured as a master trust that
has previously issued securities, provide the information as
required by Items 1 and 9 of Schedule L-D (Sec.  229.1121A) for
assets that were part of the pool prior to the current offering.
    Item 10. Corporate debt. If the registrant's pool assets include
corporate debt securities of another issuer, provide the following
data for each security in the asset pool:
    (a) Title of underlying security. Specify the title of the
underlying security.
    (b) Denomination. Give the minimum denomination of the
underlying security.
    (c) Currency. Specify the currency of the underlying security.
    (d) Trustee. Specify the name of the trustee.
    (e) Underlying SEC file number. Specify the registration
statement file number of the registration of the offer and sale of
the underlying security.
    (f) Underlying CIK number. Specify the CIK number of the issuer
of the underlying security.
    (g) Callable. Indicate whether the security is callable.
    (h) Payment frequency. Indicate the code describing the
frequency of payments that will be made on the underlying security
or agreement.
    (i) Zero Coupon indicator. Indicate yes or no as to whether an
underlying security or agreement is interest bearing.
    Item 11. Resecuritizations.
    (a) If the registrant's pool assets include asset-backed
securities of another issuer, provide the asset-level information as
required by Item 9. Corporate Debt in this Schedule L.
    (b) Provide asset-level information as specified in this
Schedule L and Item 1111(h) (Sec.  229.1111(h)) for the assets
backing those securities.
* * * * *
    17. Add Sec.  229.1111B to read as follows:

Sec.  229.1111B  (Item 1111B) Grouped account data for credit card
pools.

Schedule CC

    Note A. Submit the disclosures as an Asset Data File (as defined
in Sec.  232.11 of this chapter) in the format required by the EDGAR
Filer Manual. See Rule 301 of Regulation S-T (Sec.  232.301 of this
chapter).
* * * * *
    Provide the information regarding the underlying asset pool
required by paragraph (b) in all specified combinations of
distributional groups for each pool characteristic specified in
paragraph (a) below. Designate a grouped account data line number to
each individual combination of distributional groups.
    (a) Distributional groups.
    (1) Credit score. If the credit score is FICO, provide each of
the following credit score distributional groups: (1) less than 500;
(2) 500-549; (3) 550-599; (4) 600-649; (5) 650-699; (6) 700-749; (7)
750-799; (8) 800 and over; and (9) unknown.
    (2) Number of days past due. Provide each of the following
number of days past due distributional groups: (1) current; (2) less
than 30 days; (3) 30-59 days; (4) 60-89 days; (5) 90-119 days; (6)
120-149 days; (7) 150-179 days; and (8) 180 days and over.
    (3) Account age. Provide each of the following account age
distributional groups: (1) less than 12 months; (2) 12 to 24 months;
(3) 24 to 36 months; (4) 36 to 48 months; (5) 48 to 60 months; and
(6) over 60 months.
    (4) State. Provide the top 10 states for aggregate account
balance. The remaining accounts should be grouped into the category
``other.''
    (5) Adjustable rate index. Provide the following groups of bases
for the adjustable rate indexes: (1) fixed; (2) prime; and (3)
other.
    (b) Information required. Provide the following information for
each combination of distributional groups specified in paragraph
(a):
    (1) Aggregate credit limit. Provide the aggregate credit limit
for all accounts included in each representative line.
    (2) Aggregate account balance. Provide the aggregate account
balance for all accounts included in each representative line.
    (3) Number of accounts. Provide the total number of accounts
included in each representative line.
    (4) Weighted average APR. Provide the weighted average annual
percentage rate (APR) of all accounts included in each
representative line.
    (5) Weighted average net APR. Provide the weighted average net
annual percentage rate (APR) of all accounts included in each
representative line. Weighted average net APR is the weighted
average APR less servicing fees.
    Instruction. The table below illustrates how the distributional
groups in paragraph (a) and the information requirements in
paragraph (b) relate to each other. A single line, or ``grouped
account data'' line should disclose the aggregate credit limit,
aggregate account balance, number of accounts, weighted average APR
and weighted average net coupon of the accounts that possess the
multiple characteristics designated by that grouped account data
line. The combination of all distributional groups should produce
14,256 grouped account data lines representing composition of the
entire underlying asset pool. For example, grouped account data line
2 in the table below presents the information required by paragraph
(b) by combining all the credit card accounts in the underlying pool
that fall within the 500-549 credit score group, delinquency status
of less than 30 days, account age of 12 to 24 months with obligors
located in the state of Alabama, where the adjustable rate index is
based on a floating percentage.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Aggregate    Aggregate    Number of     Weighted     Weighted
   Grouped  account data line       Credit Score      Days payment is      Account Age        Top 10 State     Adjustable  rate     credit      account      accounts     average      average
             number                                       past due                                                  index         Limit ($)   balance ($)  ()    APR (%)    net APR (%)
                                 (a)(1)............  (a)(2)...........  (a)(3)...........  (a)(4)...........  (a)(5)...........       (b)(1)       (b)(2)       (b)(3)       (b)(4)       (b)(5)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1..............................  Less than 500.....  Current..........  Less than 12       AK...............  Fixed............  ...........  ...........  ...........  ...........
                                                                         months.
2..............................  500-549...........  < 30 days........  12-24 months.....  AL...............  Prime............  ...........  ...........  ...........  ...........  ...........
3..............................  550-599...........  30-59 days.......  24-36 months.....  AR...............  Other............  ...........  ...........  ...........  ...........  ...........
4..............................  600-649...........  60-89 days.......  36-48 months.....  AZ...............  Fixed............  ...........  ...........  ...........  ...........  ...........
5..............................  650-699...........  90-119 days......  48-60 months.....  CA...............  Prime............  ...........  ...........  ...........  ...........  ...........
6..............................  700-749...........  120-149 days.....  Over 60 months...  CO...............  Other............  ...........  ...........  ...........  ...........  ...........
7..............................  750-799...........  150-179 days.....  Less than 12       CT...............  Fixed............  ...........  ...........  ...........  ...........  ...........
                                                                         months.
8..............................  800 and over......  180+ days........  12-24 months.....  DE...............  Prime............  ...........  ...........  ...........  ...........  ...........
9..............................  Less than 500.....  < 30 days........  24-36 months.....  DC...............  Other............  ...........  ...........  ...........  ...........  ...........
10.............................  500-549...........  30-59 days.......  36-48 months.....  FL...............  Fixed............  ...........  ...........  ...........  ...........  ...........
11.............................  550-599...........  60-89 days.......  48-60 months.....  Other............  Prime............  ...........  ...........  ...........  ...........  ...........
12.............................  600-649...........  90-119 days......  Over 60 months...  AK...............  Other............  ...........  ...........  ...........  ...........  ...........

13.............................  650-699...........  120-149 days.....  Less than 12       AL...............  Fixed............  ...........  ...........  ...........  ...........  ...........
                                                                         months.
14.............................  700-749...........  150-179 days.....  12-24 months.....  AR...............  Prime............  ...........  ...........  ...........  ...........  ...........
15.............................  750-799...........  180+ days........  24-36 months.....  AZ...............  Other............  ...........  ...........  ...........  ...........  ...........
16.............................  800 and over......  Current..........  36-48 months.....  CA...............  Fixed............  ...........  ...........  ...........  ...........  ...........
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Sec.  229.1112  [Amended]

    18. Amend Sec.  229.1112 by:
    a. Removing Instruction 2 to Item 1112(b); and
    b. Redesignating Instructions 3 and 4 to Items 1112(b) as
Instructions 2 and 3 to Item 1112(b).
    19. Amend Sec.  229.1113 by adding paragraph (h) as follows:

Sec.  229.1113  (Item 1113) Structure of the transaction.

* * * * *
    (h) Waterfall Computer Program. Provide a Waterfall Computer
Program in the manner specified in Rule 314 of Regulation S-T (Sec.
232.314). This paragraph (h) does not apply to issuers of asset-backed
securities backed primarily by receivables due on stranded costs.
    (1) For purposes of this paragraph, a Waterfall Computer Program
shall mean a computer program that:
    (i) Gives effect to the provisions in the transaction agreements
that set forth the rules by which the funds available for payments or
distributions to the holders of each class of securities, and each
other person or account entitled to payments or distributions, from the
pool assets, pool cash flows, credit enhancement or other support, and
the timing and amount of such payments or distributions, are
determined;
    (ii) Provides a user with the ability to programmatically input:
    (A) The user's own assumptions regarding the future performance and
cash flows coming from the pool assets underlying the asset-backed
security, including but not limited to assumptions about future
interest rates, default rates, prepayment speeds, loss-given-default
rates, and any other assumptions required to be described pursuant to
Section 229.1113; and
    (B) The current state and performance of the pool assets underlying
the asset-backed security by uploading directly into the computer
program the initial XML-based Asset Data File (as defined in Sec.
232.11 of this chapter) and any subsequent monthly updates to that
file; and
    (iii) Produces a programmatic output, in machine-readable form, of
all resulting cash flows associated with the asset-backed security,
including the amount and timing of principal and interest payments
payable or distributable to a holder of each class of securities, and
each other person or account entitled to payments or distributions in
connection with the securities, until the final legal maturity date as
a function of the inputs described in paragraph (h)(1)(ii) of this
section.
    Instruction: For purposes of this definition, the transaction
agreement provisions that should be given effect to include, but are
not limited to, any provisions setting forth the priorities of payments
or distributions (and any contingencies affecting such priorities) to
the holders of each class of securities and any other persons or
accounts entitled to payments or distributions, and any related
provisions necessary to determine the quantitative results of such
provisions (including without limitation the provisions required to be
described in Item 1113(b), Item 1113(c), Item 1113(d), and items (2)-
(4), (6), (7) and (9) of Item 1113(a)) .
    (2) Provide a sample expected output for each class of securities
in the asset-backed transaction. The sample should be based on the
Asset Data File (as defined in 232.11 of this chapter) filed pursuant
to Item 1111(h)(1) and filed with the Waterfall Computer Program. The
sample should disclose the sample input assumptions used to generate
the expected output.
    (3) State in the prospectus that the information provided in
response to this paragraph (h) is provided as a downloadable source
code for a computer program in the Python programming language filed
with the Securities and Exchange Commission on its Web site at
www.sec.gov. Identify the CIK and file number of the filing.
    (4) File the Waterfall Computer Program as part of any prospectus
filed in accordance with Rule 424(h) (Sec.  230.424(h)) or any final
prospectus meeting the requirements of section 10(a) of the Securities
Act (15 U.S.C. 77j(a)(a)) filed in accordance with Rule 424(b) (Sec.
230.424(b)). The Waterfall Computer Program shall give effect to the
transaction provisions as of the date of such filing.
    (5) With respect to a credit card master trust, file the Waterfall
Computer Program in accordance with Item 6.07(b) of Form 8-K (Sec.
249.308). The Waterfall Computer Program shall give effect to the
transaction provisions as of the date of such filing.

Sec.  229.1114  [Amended]

    20. Amend Sec.  229.1114 by:
    a. Revising the heading for ``Instructions to Item 1114:'' to read
``Instructions to Item 1114(b)'';
    b. Removing Instruction 3 to Item 1114(b); and
    c. Redesignating Instructions 4 and 5 to Item 1114(b) as
Instructions 3 and 4 to Item 1114(b).
    21. Amend Sec.  229.1121 by revising paragraph (a)(9) and adding
paragraphs (c), (d), and (e) to read as follows:

Sec.  229.1121  (Item 1121) Distribution and pool performance
information.

    (a) * * *
    (9) Delinquency and loss information for the period. Refer to Item
1100(b) of this Regulation AB for presentation of historical
delinquency and loss information.
* * * * *
    (c) If the sponsor or an originator is required to repurchase or
replace any of the pool assets for breach of a representation and
warranty pursuant to the transaction agreements, provide the amount, if
material, of the publicly securitized assets originated or sold by the
obligor (i.e., the sponsor or the originator) that were the subject of
a demand to repurchase or replace for breach of the representations and
warranties concerning the pool assets that has been made in the period
covered by the report pursuant to the transaction agreements. Also
provide the percentage of that amount that were not then repurchased or
replaced by the obligor. Of those assets that were not then repurchased
or replaced, disclose whether an opinion of a third party not
affiliated with the obligor had been furnished to the trustee that
confirms that the assets did not violate the representations and
warranties.

    (d) Asset-level performance information. Provide asset-level
performance information for each asset in the pool in a manner
specified in Schedule L-D (Sec.  229.1121A). This paragraph (d) does
not apply to issuers of asset-backed securities backed primarily by
receivables due on credit cards, charge cards or stranded costs. State
in the report on Form 10-D that the information provided in response to
this subparagraph and Schedule L-D is filed with the Securities and
Exchange Commission as a machine readable data file on the Commission's
Web site at www.sec.gov. Identify the CIK of the issuer and file
number.
    (e) Grouped account data for credit card pools. If the asset-backed
securities are backed primarily by receivables due on credit cards or
charge cards, provide the information for the underlying pool in a
manner specified in Schedule CC (Sec.  229.1111B). State in the report
on Form 10-D that the information provided in response to this
subparagraph and Schedule CC is filed with the Securities and Exchange
Commission as a machine-readable data file on the Commission's Web site
at www.sec.gov. Identify the CIK of the issuer and file number.
    22. Add Sec.  229.1121A to read as follows:

Sec.  229.1121A  Asset-level performance information.

Schedule L-D

    Note A. Submit the disclosures as an Asset Data File (as defined
in Sec.  232.11 of this chapter) in the format required by the EDGAR
Filer Manual. See Rule 301 of Regulation S-T (Sec.  232.301 of this
chapter).
    Instruction. The following definitions apply to the terms used
in this schedule unless otherwise specified:
    Debt service reduction. A modification of the terms of a loan
resulting from a bankruptcy proceeding, such as a reduction of the
amount of the monthly payment on the related mortgage loan.
    Deficient valuation. A bankruptcy proceeding whereby the
bankruptcy court may establish the value of the mortgaged property
at an amount less than the then-outstanding principal balance of the
mortgage loan secured by the mortgaged property or may reduce the
outstanding principal balance of a mortgage loan.
    FNMA. The Federal National Mortgage Association.
    HAMP. The federal Home-Affordable Modification Plan program.
    Underwritten. The amount of revenues or expenses adjusted based
on a number of assumptions made by the mortgage originator or
seller.
    Item 1. General. Provide the following data for each asset in
the asset pool:
    (a) Asset number type. Identify the source of the asset number
used to specifically identify each asset in the pool.
    (b) Asset number. Provide the unique ID number of the asset.
    Instruction to Item 1(b). The asset number should be the same
number that was previously used to identify the asset in Schedule L
(Sec.  229.1111A).
    (c) Asset group number. For structures with multiple collateral
groups, indicate the collateral group number in which the asset
falls.
    (d) Reporting period begin date. Specify the beginning date of
the reporting period.
    (e) Reporting period end date. Specify the servicer cut-off date
for the reporting period.
    (f) Activity during the reporting period.
    (1) Total actual amount paid. Indicate the total payment
(including all escrows) paid to the servicer during the reporting
period.
    (2) Actual interest paid. Indicate the amount of interest
collected during the reporting period.
    (3) Actual principal paid. Indicate the amount of principal
collected during the reporting period.
    (4) Actual other amounts paid. Indicate the total of any other
amounts collected during the reporting period.
    (5) Other principal adjustments. Indicate any other amounts that
would cause the principal balance of the loan to be decreased or
increased during the reporting period.
    (6) Other interest adjustments. Indicate any unscheduled
interest adjustments during the reporting period.
    (7) Current asset balance. Indicate the outstanding principal
balance of the asset as of the servicer cut-off date.
    (8) Current scheduled asset balance. Indicate the scheduled
principal balance of the asset as of the servicer cut-off date.
    (9) Current scheduled payment amount. Indicate the total payment
amount that was scheduled to be collected for this reporting period
(including all fees and escrows).
    (10) Current scheduled principal amount. Indicate the principal
payment amount that was scheduled to be collected for this reporting
period.
    (11) Current scheduled interest amount. Indicate the interest
payment amount that was scheduled to be collected for this reporting
period.
    (12) Current delinquency status. Indicate the number of days the
obligor is delinquent as determined by the governing transaction
agreement.
    (13) Number of days payment is past due. If an obligor has not
made the full scheduled payment, indicate the number of days between
the scheduled payment date and the reporting period end date.
    (14) Current payment status. Indicate the number of payments the
obligor is past due as of the cut-off date.
    (15) Pay history. Provide the coded string of values that
describes the payment performance of the asset over the most recent
12 months.
    (16) Next due date. For loans that have not been paid-off,
indicate the date on which the next payment is due on the asset.
    (17) Next interest rate. For loans that have not been paid-off,
indicate the interest rate that is in effect as of the next
scheduled remittance due to the investor.
    (18) Remaining term to maturity. For loans that have not been
paid-off, indicate the number of months between the cut-off date and
the asset maturity date.
    (g) Information related to servicing.
    (1) Current servicing fee--amount. Indicate the dollar amount of
the fee earned by the current servicer for administering the loan
for this reporting period.
    (2) Current servicer. Indicate the name or MERS organization
number of the entity that currently services the asset.
    (3) Servicing transfer received date. If a loan's servicing has
been transferred, provide the effective date of the servicing
transfer.
    (4) Servicer advanced amount. If amounts were advanced by the
servicer during the reporting period, specify the amount.
    (5) Cumulative outstanding advanced amount. Specify the
outstanding cumulative amount advanced by the servicer.
    (6) Servicing advance methodology. Indicate the code that
describes the manner in which principal and/or interest are to be
advanced by the servicer.
    (7) Stop principal and interest advance date. Provide the first
payment due date for which the servicer ceased advancing principal
or interest.
    (8) Other loan-level servicing fee(s) retained by servicer.
Provide the amount of all other fees earned by loan administrators
that reduce the amount of funds remitted to the issuing entity
(including subservicing, master servicing, trustee fees, etc).
    (9) Other assessed but uncollected servicer fees. Provide the
cumulative amount of late charges and other fees that have been
assessed by the servicer, but not paid by the obligor.
    (h) Modification indicator. Indicate yes or no whether the asset
was modified from its original terms during the reporting period.
    (i) Repurchase indicator. Indicate yes or no whether the asset
has been repurchased from the pool. If the asset has been
repurchased, provide the following additional information.
    (1) Repurchase notice. Indicate yes or no whether a notice of
repurchase has been received.
    (2) Repurchase date. Indicate the date the asset was
repurchased.
    (3) Repurchaser. Specify the name of the repurchaser.
    (4) Repurchase reason. Indicate the code that describes the
reason for the repurchase.
    (j) Liquidated indicator. Indicate yes or no whether the asset
has been liquidated. An asset is considered liquidated if the
related collateral has been sold or disposed, or if the asset has
been charged-off in its entirety without realizing upon the
collateral.
    (k) Charge-off indicator. Indicate yes or no as to whether the
asset has been charged-off. The asset is charged-off when it will be
treated as a loss or expense because payment is unlikely.
    (1) Charged-off principal amount. Specify the amount of
uncollected principal charged-off.
    (2) Charged-off interest amount. Specify the amount of
uncollected interest charged-off.
    (l) Information related to paid-off loans.
    (1) Paid-in-full indicator. Indicate yes or no whether the asset
is paid in full.
    (2) Information related to prepayment penalties. If the obligor
is subject to

prepayment penalties, provide the following additional information
for each loan:
    (i) Pledged Prepayment Penalty Paid. Provide the total amount of
the prepayment penalty that was collected from the obligor.
    (ii) Pledged prepayment penalty waived. Provide the total amount
of the prepayment penalty that was incurred by the obligor, but not
collected by the servicer.
    (iii) Reason for not collecting pledged prepayment penalty.
Indicate the code that describes the reason that a prepayment
penalty due from a borrower was not collected by the servicer.
    Item 2. Residential mortgages. If the asset pool contains
residential mortgages, provide the following data for each loan in
the asset pool:
    (a) Information related to delinquent loans.
    (1) Non-pay reason. Indicate the code that describes the reason
for loan delinquency.
    (2) Non-pay status. Indicate the code that describes the
delinquency status of the loan.
    (3) Reporting action code. Further indicate the code that
defines the default/delinquent status of the loan.
    (b) Information related to ARMs. If the loan is an ARM, provide
the following additional information for each loan:
    (1) Rate at next reset. Provide the interest rate that will be
used to determine the next scheduled interest payment.
    (2) Next interest rate change date. Provide the next date that
the note rate is scheduled to change.
    (3) Payment at next reset. Provide the principal and interest
payment due after the next scheduled interest rate change.
    (4) Next payment change date. Provide the next date that the
amount of scheduled principal and/or interest is scheduled to
change.
    (5) Option ARM indicator. Indicate yes or no whether the loan is
an Option ARM.
    (6) Exercised ARM conversion option indicator. Indicate yes or
no whether the borrower exercised an option to convert an ARM loan
to a fixed interest rate loan.
    (c) Information related to bankruptcy. For obligors who have
filed for bankruptcy, provide the following additional information:
    (1) Bankruptcy file date. Provide the date on which the obligor
filed for bankruptcy.
    (2) Bankruptcy case number. Provide the case number assigned by
the court to the bankruptcy filing.
    (3) Post-petition due date. Provide the date on which the next
payment is due under the terms of the bankruptcy plan.
    (4) Bankruptcy release reason. If the bankruptcy has been
released, indicate the code that describes the reason for the
release.
    (5) Bankruptcy release date. If the bankruptcy has been
released, provide the date on which the loan was removed from
bankruptcy as a result of dismissal, discharge, and/or the granting
of a motion for relief.
    (6) Contractual due date. Provide the actual due date of the
loan payment had bankruptcy not been filed.
    (7) Debt reaffirmed indicator. Indicate yes or no whether the
obligor excluded this debt from the bankruptcy and reaffirmed the
debt obligation.
    (8) Trustee pays all indicator. Indicate yes or no whether post-
petition payments are sent to the bankruptcy trustee by the obligor
and then forwarded to the servicer by the trustee.
    (d) Loss mitigation type indicator. Indicate the code that
describes the type of loss mitigation the servicer is pursuing with
the borrower, loan, or property.
    (e) Information related to loan modifications.
    (1) Modification effective payment date. Provide the date of
first payment due post modification.
    (2) Modification loan balance. Provide the loan balance as of
modification effective payment date as reported on the modification
documents.
    (3) Total capitalized amount. Provide the amount added to the
principal balance of the loan pursuant to a loan modification.
    (4) Pre-modification interest (note) rate. Provide the scheduled
interest rate of the loan immediately preceding the modification
effective payment date--or if servicer is no longer advancing
principal and interest, the interest rate that would be in effect if
the loan were current.
    (5) Post-modification interest (note) rate. Provide the interest
rate in effect as of the modification effective payment date.
    (6) Post-modification margin. Provide the margin as of the
modification effective payment date. The margin is the number of
percentage points added to the interest rate index to establish the
new rate.
    (7) Pre-modification P&I payment. Provide the scheduled total
principal and interest payment amount preceding the modification
effective payment date--or if servicer is no longer advancing
principal and interest, the interest rate that would be in effect if
the loan were current.
    (8) Post-modification lifetime rate floor. Provide the minimum
rate of interest that may be applied to an adjustable rate loan over
the course of the loan's life (after modification).
    (9) Post-modification lifetime rate ceiling. Provide the maximum
rate of interest that may be applied to an adjustable rate loan over
the course of the loan's life (after modification).
    (10) Pre-modification initial interest rate decrease. Provide
the maximum percentage by which the interest rate may adjust
downward on the first interest rate adjustment date (prior to
modification).
    (11) Post-modification initial interest rate decrease. Provide
the maximum percentage by which the interest rate may adjust
downward on the first interest rate adjustment date (after
modification).
    (12) Pre-modification subsequent interest rate increase. Provide
the maximum percentage increment by which the rate may adjust upward
after the initial rate adjustment (prior to modification).
    (13) Post-modification subsequent interest rate increase.
Provide the maximum percentage increment by which the rate may
adjust upward after the initial rate adjustment (after
modification).
    (14) Pre-modification payment cap. Provide the percentage value
by which a payment may increase or decrease in one period (prior to
modification).
    (15) Post-modification payment cap. Provide the percentage value
by which a payment may increase or decrease in one period (after
modification).
    (16) Post-modification principal and interest payment. Provide
total principal and interest payment amount as of the modification
effective payment date.
    (17) Pre-modification maturity date. Provide the loan's original
maturity date (or, if the loan has been modified before, the
maturity date in effect immediately preceding the most recent
modification effective payment date).
    (18) Post-modification maturity date. Provide the loan's
maturity date as of the modification effective payment date.
    (19) Pre-modification interest reset period (if changed).
Provide the number of months of the original interest reset period
of the loan.
    (20) Post-modification interest reset period (if changed).
Provide the number of months of the interest reset period of the
loan as of the modification effective payment date.
    (21) Pre-modification next interest rate change date. Provide
the next interest reset date under the original terms of the loan
(one month prior to new payment due date).
    (22) Post-modification next reset date. Provide the next
interest reset date as of the modification effective payment date.
    (23) Modification front-end DTI. Provide the front-end DTI ratio
(total monthly housing expense divided by monthly income) used to
qualify the modification.
    (24) Income verification indicator. Indicate yes or no whether a
transcript of tax return (received pursuant to the filing of IRS
Form 4506-T) was obtained to corroborate modification front-end DTI
(calculated using pay stubs, W-2s and/or CPA certified tax returns).
    (25) Modification back-end DTI. Provide the back-end DTI ratio
(total monthly debt divided by monthly income) used to qualify the
modification.
    (26) Pre-modification interest only term. Provide the number of
months of the interest-only period prior to the modification
effective payment date.
    (27) Post-modification interest only term. Provide the number of
months of the interest-only period as of the modification effective
payment date.
    (28) Post-modification balloon payment amount. Provide the new
balloon payment amount due at maturity as a result of loan
modification, not including deferred amounts.
    (29) Forgiven principal amount (cumulative). Provide the sum
total of all principal balance reductions as a result of loan
modification over the life of the deal.
    (30) Forgiven interest amount (cumulative). Provide the sum
total of all interest incurred and forgiven as a result of loan
modification over the life of the deal.
    (31) Forgiven principal amount (current period). Provide the
total principal balance reduction as a result of loan modification
during the current period.
    (32) Forgiven interest amount (current period). Provide the
total gross interest forgiven as a result of loan modification
during the current period.
    (33) Modified next payment adjust date. Provide the due date on
which the next

payment adjustment is scheduled to occur for an ARM loan per the
modification agreement.
    (34) Modified ARM indicator. If the loan is remaining an ARM
loan, indicate whether the loan's existing ARM parameters are
changing per the modification agreement.
    (35) Interest rate step indicator. Indicate whether the terms of
the modification agreement call for the interest rate to step up
over time.
    (36) Maximum future rate under step agreement. If the loan
modification includes a step provision, provide the maximum interest
rate to which the loan may step up.
    (37) Date of maximum rate. If the loan modification includes a
step provision, provide the date on which the maximum interest rate
will be reached.
    (38) Non-interest bearing principal deferred amount (current
period). Provide the total amount of principal deferred (or
forborne) by the modification that is not subject to interest
accrual.
    (39) Non-interest bearing principal deferred amount (cumulative
balance). Provide the total amount of principal deferred by the
modification that is not subject to interest accrual.
    (40) Recovery of deferred principal (current period). Provide
the amount of deferred principal collected from the obligor during
the current period.
    (41) Non-interest bearing deferred interest and fees Amount
(current period). Provide the total amount of interest and expenses
deferred by the modification that is not subject to interest accrual
during the current period.
    (42) Non-interest bearing deferred interest and fees amount
(cumulative balance). Provide the total amount of interest and
expenses deferred by the modification that is not subject to
interest accrual.
    (43) Recovery of deferred interest and fees (current period).
Provide the amount of deferred interest and fees collected from the
obligor during the current period.
    (44) Forgiven non-principal and interest advances to be
reimbursed by trust. Provide the total amount of expenses (including
all escrow and corporate advances) that have been waived or forgiven
by the servicer per the modification agreement reimbursable to the
servicer pursuant to the terms of the transaction document.
Corporate advances are amounts paid by the servicer which may
include foreclosure expenses, attorney fees, bankruptcy fees,
insurance, and so forth.
    (45) Reimbursable modification escrow and corporate advances
(capitalized). Provide the total amount of escrow and corporate
advances made by the servicer as of the time of the loan
modification. Corporate advances are amounts paid by the servicer
which may include foreclosure expenses, attorney fees, bankruptcy
fees, insurance, and so forth.
    (46) Reimbursable modification servicing fee advances
(capitalized). Provide the total amount of servicing fees for
delinquent payments that has been advanced by the servicer at the
time of the loan modification.
    (47) HAMP Indicator. Indicate yes or no whether the loan was
modified under the terms of the Home-Affordable Modification Plan
(HAMP). If so, provide the following additional information:
    (i) HAMP: Loan participation end date. Provide the date upon
which the last principal and interest payment is due during the 60-
month participation of the U. S. Treasury and FNMA in the loan
modification.
    (ii) HAMP: Loan modification incentive termination date. Provide
the date upon which obligor participation in the program is
terminated because the borrower has defaulted or redefaulted.
    (iii) HAMP: Obligor pay-for-performance success payments.
Provide the amount paid to the servicer from U.S. Treasury/FNMA that
reduces the principal balance of the interest bearing portion of the
loan as the obligor stays current after modification.
    (iv) HAMP: One-time bonus incentive eligibility. Indicate yes or
no whether the loan qualifies for the one-time bonus incentive
payment of $1,500.00 payable to the mortgage holder subject to
certain de minimis constraints.
    (v) HAMP: One-time bonus incentive amount. Indicate whether
mortgage holder has or will receive $1,500 paid to mortgage holders
for modifications made while a borrower is still current on mortgage
payments.
    (vi) HAMP: Monthly payment reduction cost share. Provide the
amount of the subsidized payment from Treasury/FNMA during the
current period to reimburse the investor for one half of the cost of
reducing the monthly payment from 38% to 31% Front-End DTI.
    (vii) HAMP: Administrative fees associated with participating in
the program. Provide the amount of the fees incurred by the servicer
while administering this program, as allowed by the governing
documents with investors.
    (viii) HAMP: Current asset balance including deferred amount.
Provide the sum amount of the current asset balance plus only the
principal portion of the deferred amount.
    (ix) HAMP: Scheduled ending balance including deferred amount.
Provide the sum amount of the current scheduled asset balance plus
only the principal portion of the deferred amount.
    (x) HAMP: Home price depreciation payments. Provide the amount
payable to mortgage holders to partially offset probable losses from
home price declines.
    (f) Information related to forbearance or trial modification. If
the type of loss mitigation is forbearance, provide the following
additional information. A forbearance plan refers to a period during
which either no payment or a payment amount less than the
contractual obligation is required from the obligor. A trial
modification refers to a temporary loan modification during which an
obligor's application for a permanent loan modification is under
evaluation.
    (1) Forbearance plan or trial modification start date. Provide
the date on which a forbearance plan or trial modification started.
    (2) Forbearance plan or trial modification scheduled end date.
Provide the date on which a forbearance plan or trial modification
is scheduled to end.
    (g) Information related to repayment plan. If the type of loss
mitigation is a repayment plan, provide the following additional
information. A repayment plan refers to a period during which an
obligor has agreed to make monthly mortgage payments greater than
the contractual installment in an effort to bring a delinquent loan
current.
    (1) Repayment plan start date. Provide the date on which a
repayment plan started.
    (2) Repayment plan scheduled end date. Provide the date on which
a repayment plan is scheduled to end.
    (3) Repayment plan violated date. Provide the date on which the
obligor ceased complying with the terms of a repayment plan.
    (h) Deed-in-lieu date. If the type of loss mitigation is deed-
in-lieu, provide the date on which a title was transferred to the
servicer pursuant to a deed-in-lieu-of-foreclosure arrangement.
Deed-in-lieu refers to the transfer of title from an obligor to the
lender to satisfy the mortgage debt and avoid foreclosure.
    (i) Short sale accepted offer amount. If the type of loss
mitigation is short sale, provide the amount accepted for a short