Attached files
Exhibit 33.1
Management Assessment
Management of First Republic Bank (the Bank) is responsible for assessing compliance with the applicable servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission relating to the servicing of residential mortgage loans serviced for others (the Platform) as of and for the year ended December 31, 2014, except for servicing criteria Item 1122(d)(1)(iii), 1122(d)(3)(i)(C), and Item 1122(d)(4)(xv), which the Bank has determined are not applicable to the activities it performs with respect to the Platform. Appendix A identifies the individual asset-backed transactions and securities defined by management as constituting the Platform.
With respect to servicing criteria Item 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xii), management has engaged various vendors to perform the activities required by these servicing criteria. The Bank’s management has determined that none of these vendors is considered a “servicer” as defined in Item 1101(j) of Regulation AB, and the Bank’s management has elected to take responsibility for assessing compliance with the servicing criteria applicable to each vendor as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly Available Telephone Interpretations (“Interpretation 17.06”). Management has policies and procedures in place designed to provide reasonable assurance that the vendors’ activities comply in all material respects with the servicing criteria applicable to each vendor. The Bank’s management is solely responsible for determining that it meets the SEC requirements to apply Interpretation 17.06 for the vendors and related criteria.
The Bank’s management has assessed the Bank’s compliance with the applicable servicing criteria as of and for the year ended December 31, 2014. In making this assessment, management used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB, except for the servicing criteria listed above, which the Bank has determined are not applicable to the activities it performs.
Based on such assessment, management has concluded that, as of and for the year ended December 31, 2014, the Bank has complied in all material respects with the servicing criteria set forth in Item 1122(d) of Regulation AB of the Securities and Exchange Commission relating to the servicing of the Platform.
KPMG LLP, a registered public accounting firm, has issued an attestation report with respect to management’s assessment of compliance with the applicable servicing criteria as of and for the year ended December 31, 2014.
| /s/ Michael J. Roffler |
2-27-15 | |||
| Michael J. Roffler Executive Vice President and Chief Financial Officer |
Date | |||
| /s/ Nancy Segreto |
2-27-15 | |||
| Nancy Segreto Senior Vice President, Lending Services |
Date | |||
| /s/ Tony Sachs |
2-27-15 | |||
| Tony Sachs Vice President, Lending Strategies, Products, and Sales |
Date | |||
Appendix A
| Investor # |
Investor Name |
Loan Count | Balance | |||||||
| 50 |
First Republic Preferred Capital Corp. I |
33 | $ | 34,740,119.74 | ||||||
| 70 |
Intrepid LLLP |
7 | $ | 5,674,527.77 | ||||||
| 120 |
Redwood Trust (Bear Stearns) |
26 | $ | 21,950,455.68 | ||||||
| 122 |
Sequioa 2007-2 |
45 | $ | 45,093,047.34 | ||||||
| 123 |
SEMT 2007-3 |
13 | $ | 18,345,837.27 | ||||||
| 124 |
CSMC Trust 2014-SAF1 |
1 | $ | 888,460.11 | ||||||
| 126 |
MTGLQ Investors, L.P. |
139 | $ | 103,063,741.54 | ||||||
| 127 |
OneWest Bank N.A. |
771 | $ | 643,760,103.64 | ||||||
| 128 |
Sequoia Mortgage Trust 2014-1 |
75 | $ | 66,366,575.13 | ||||||
| 129 |
STIFEL BANK & TRUST |
46 | $ | 47,083,151.62 | ||||||
| 131 |
Morgan Stanley Mortgage |
197 | $ | 209,222,128.75 | ||||||
| 132 |
JP Morgan Mortgage Trust 2014-2 |
332 | $ | 156,824,181.69 | ||||||
| 133 |
Sequoia Mortgage Trust 2013-12 |
47 | $ | 38,385,072.09 | ||||||
| 134 |
CSMC 2014-IVR3 |
61 | $ | 38,298,317.32 | ||||||
| 135 |
Citizens Bank, N.A And Various |
3 | $ | 2,077,863.71 | ||||||
| 136 |
MSRM Loan Trust 2014-1 |
283 | $ | 248,678,800.88 | ||||||
| 137 |
Sequoia Mortgage Trust 2014-3 |
69 | $ | 58,277,857.97 | ||||||
| 138 |
J.P. Morgan Trust 2014-IVR3 |
93 | $ | 120,724,648.02 | ||||||
| 141 |
Delta Community Credit Union |
24 | $ | 30,225,275.87 | ||||||
| 142 |
Sequoia Mortgage Trust 2013-12 |
56 | $ | 49,681,314.66 | ||||||
| 143 |
CSMC Trust 2014-IVR1 |
10 | $ | 9,016,876.51 | ||||||
| 144 |
CSMC Trust 2013-IVR5 |
1 | $ | 639,044.11 | ||||||
| 145 |
JP Morgan Mortgage TR 2014-1 |
53 | $ | 48,410,655.33 | ||||||
| 146 |
Florida Community Bank, N.A. |
42 | $ | 46,574,295.35 | ||||||
| 147 |
Citizens Bank of Pennsylvania |
98 | $ | 83,735,591.00 | ||||||
| 149 |
Hudson Valley Bank |
6 | $ | 8,671,918.72 | ||||||
| 151 |
CMSC Trust 2013-7 |
2 | $ | 1,812,926.56 | ||||||
| 152 |
Sequoia Mortgage Trust 2013-11 |
16 | $ | 14,102,222.94 | ||||||
| 153 |
Sequoia Mortgage Trust 2013-10 |
2 | $ | 1,432,761.41 | ||||||
| 154 |
CSMC Trust 2013-6 |
19 | $ | 21,190,469.62 | ||||||
| 155 |
JP Morgan Mortgage Trust 2013-3 |
119 | $ | 127,861,596.09 | ||||||
| 156 |
NRP Mortgage Trust 2013-1 |
447 | $ | 413,054,672.75 | ||||||
| 157 |
CSMC Trust 2013-HYB1 |
323 | $ | 351,108,854.80 | ||||||
| 158 |
CSMC Trust 2013-IVR4 |
36 | $ | 37,609,855.05 | ||||||
| 162 |
Citigroup Mortgage Loan Trust Series 2005-6 |
32 | $ | 17,114,284.11 | ||||||
| 163 |
SAMI II 2005-AR2 |
92 | $ | 85,075,788.57 | ||||||
| 164 |
MLCC 2005-3 |
39 | $ | 33,039,989.89 | ||||||
| 165 |
MLMI 2005-A10 |
31 | $ | 31,487,043.82 | ||||||
| 166 |
Redwood Residential Acquisition Corp |
181 | $ | 159,865,223.85 | ||||||
| 167 |
Sequoia Mortgage Trust 2011-1 |
29 | $ | 27,974,460.36 | ||||||
| 168 |
Sequoia Mortgage Trust 2011-2 |
76 | $ | 53,094,103.93 | ||||||
| 169 |
Sequoia Mortgage Trust 2012-1 |
81 | $ | 75,202,377.19 | ||||||
| 172 |
SEMT 2012-2 |
91 | $ | 84,920,208.49 | ||||||
| 173 |
SEMT 2013-1 |
20 | $ | 21,661,957.36 | ||||||
| 174 |
Sequoia Mortgage Trust 2012-3 |
77 | $ | 77,287,081.95 | ||||||
| 175 |
Harbor View 2003-2 (formerly Greenwich) |
6 | $ | 2,628,829.52 | ||||||
| 176 |
Harbor View 2004-1 (formerly Greenwich) |
22 | $ | 9,866,750.16 | ||||||
| 177 |
Harbor View 2004-5 (formerly Greenwich) |
7 | $ | 3,984,002.95 | ||||||
| 178 |
Harbor View 2006-6 |
1 | $ | 401,075.01 | ||||||
| 179 |
Harbor View 2007-6 |
1 | $ | 484,158.17 | ||||||
| 180 |
MASTR 2003-5 (formerly UBS Warburg) |
3 | $ | 1,919,609.86 | ||||||
| 181 |
Sequoia Mortgage Trust 2012-5 |
74 | $ | 70,291,993.04 | ||||||
| 182 |
Sequoia Mortgage Trust 2013-2 |
314 | $ | 284,437,931.21 | ||||||
| 183 |
Sequoia Mortgage Trust 2013-3 |
80 | $ | 76,572,832.22 | ||||||
| 184 |
Sequoia Mortgage Trust 2013-4 |
58 | $ | 61,645,657.44 | ||||||
| 185 |
MASTI 2003-4 (formerly UBS Warburg) |
7 | $ | 4,595,449.38 | ||||||
| 187 |
Sequoia Mortgage Trust 2013-7 |
14 | $ | 11,689,933.19 | ||||||
| 188 |
Sequoia Mortgage Trust 2013-8 |
4 | $ | 2,581,364.55 | ||||||
| 189 |
CSMC Trust 2013-IVR3 |
30 | $ | 36,418,802.74 | ||||||
Appendix A
| Investor # |
Investor Name |
Loan Count | Balance | |||||||
| 191 |
CSFB 2004-5 |
2 | $ | 614,451.60 | ||||||
| 192 |
CSFB 2004-6 |
5 | $ | 884,699.21 | ||||||
| 193 |
CSFB 2004-7 |
1 | $ | 300,373.04 | ||||||
| 194 |
TIAA-CREF Trust Company, FSB |
295 | $ | 192,451,699.79 | ||||||
| 195 |
MLMI 2005-A1 |
17 | $ | 8,369,269.02 | ||||||
| 196 |
Merrill Lynch Bank |
29 | $ | 25,013,573.13 | ||||||
| 197 |
MLCC 2006-2 |
59 | $ | 33,519,471.51 | ||||||
| 199 |
Sequoia Mortgage Trust 2012-4 |
56 | $ | 55,973,052.61 | ||||||
| 200 |
Sequoia Mortgage Trust 2012-6 |
34 | $ | 33,015,579.11 | ||||||
| 201 |
JP Morgan Mortgage Acq. Corp. |
1314 | $ | 1,337,996,283.50 | ||||||
| 203 |
Scottrade Bank |
110 | $ | 55,422,563.04 | ||||||
| 204 |
JP Morgan Mortgage Trust 2013-1 |
272 | $ | 200,883,658.37 | ||||||
| 207 |
CSMC Trust 2013-IVR1 |
103 | $ | 88,378,639.07 | ||||||
| 209 |
CSMC Trust 2013-1VR2 |
176 | $ | 162,525,143.67 | ||||||
| 210 |
Washington Mutual (formerly Bank United of Texas) |
1 | $ | 25,365.60 | ||||||
| 215 |
Bank United N.A. |
36 | $ | 37,858,118.19 | ||||||
| 216 |
North Valley Bank |
13 | $ | 14,456,729.54 | ||||||
| 217 |
Signature Bank |
17 | $ | 22,514,523.24 | ||||||
| 218 |
RBS Financial Products Inc. |
2 | $ | 1,276,490.33 | ||||||
| 227 |
Washington Mutual (formerly Bank United of Texas) |
3 | $ | 116,885.32 | ||||||
| 243 |
Chase Mortgage Services, Inc. |
1 | $ | 206,346.40 | ||||||
| 244 |
Independent National Mortgage |
1 | $ | 349,037.04 | ||||||
| 248 |
Washington Mutual Bank, Flow Sales (PNC) |
2 | $ | 517,779.73 | ||||||
| 250 |
CitiMortgage |
9 | $ | 3,487,508.13 | ||||||
| 260 |
CitiMortgage |
14 | $ | 2,817,580.92 | ||||||
| 312 |
Residential Funding |
27 | $ | 9,143,979.50 | ||||||
| 313 |
BofA Funding 2011-SDI |
1 | $ | 659,107.61 | ||||||
| 330 |
U.S. Bank |
2 | $ | 251,928.72 | ||||||
| 355 |
Thornburg Mortgage (Wells Fargo Master Servicer) |
536 | $ | 382,743,146.34 | ||||||
| 356 |
Thornburg 2008-1 |
3 | $ | 1,761,970.83 | ||||||
| 357 |
Everbank |
24 | $ | 22,469,450.03 | ||||||
| 358 |
DLJ Mortgage Capital, Inc. |
31 | $ | 28,375,964.43 | ||||||
| 360 |
Northfield Bank |
213 | $ | 182,506,907.88 | ||||||
| 361 |
JP Morgan Trust 2014-OAK4 |
12 | $ | 14,115,811.37 | ||||||
| 362 |
JP Morgan Mortgage Trust 2014-5 |
197 | $ | 138,108,473.03 | ||||||
| 363 |
Sequoia Mortgage Trust 2014-4 |
126 | $ | 111,076,435.22 | ||||||
| 364 |
JP Morgan Mortgage TR2014-IVR6 |
386 | $ | 385,088,266.52 | ||||||
| 414 |
Federal Home Mortgage Loan Association |
7 | $ | 401,468.57 | ||||||
| 415 |
FNMA MBS |
6 | $ | 432,331.24 | ||||||
| 510 |
CitiMortgage |
6 | $ | 709,416.98 | ||||||
| 515 |
Fannie Mae-Laser |
4700 | $ | 1,585,203,666.02 | ||||||
| 516 |
Bank of New Canaan |
3 | $ | 4,673,224.00 | ||||||
| 633 |
Chase Mortgage Services, Inc. |
3 | $ | 133,428.61 | ||||||
| 636 |
Bank United of Florida |
1 | $ | 26,713.35 | ||||||
| 637 |
Bank of America |
4 | $ | 268,431.65 | ||||||
| 720 |
2002-FRB2 REMIC |
28 | $ | 16,452,824.12 | ||||||
| 730 |
2002-FRBI REMIC |
45 | $ | 25,392,444.06 | ||||||
| 740 |
2001-FRB1 REMIC |
55 | $ | 38,356,015.51 | ||||||
| 750 |
Washington Mutual Bank |
1 | $ | 427,738.92 | ||||||
| 760 |
2000-FRB1 REMIC |
20 | $ | 7,501,407.06 | ||||||
| 770 |
Bear Stearns |
12 | $ | 3,447,367.50 | ||||||
| 775 |
AAR BART 2003-5 (Bear Stearns) |
28 | $ | 9,563,064.60 | ||||||
| 777 |
HVMLT 2006-13 |
1 | $ | 747,588.23 | ||||||
| 780 |
2000-FRB2 REMIC |
31 | $ | 15,340,594.50 | ||||||
| 614 |
Federal Home Loan Mortgage Association |
1 | $ | 48,273.76 | ||||||
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| Total |
13,947 | $ | 9,603,226,391.27 | |||||||
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