Attached files

file filename
10-K - FORM 10-K - Sequoia Mortgage Trust 2011-2d891415d10k.htm
EX-33.3 - EX-33.3 - Sequoia Mortgage Trust 2011-2d891415dex333.htm
EX-33.4 - EX-33.4 - Sequoia Mortgage Trust 2011-2d891415dex334.htm
EX-31 - EX-31 - Sequoia Mortgage Trust 2011-2d891415dex31.htm
EX-33.1 - EX-33.1 - Sequoia Mortgage Trust 2011-2d891415dex331.htm
EX-33.2 - EX-33.2 - Sequoia Mortgage Trust 2011-2d891415dex332.htm
EX-34.2 - EX-34.2 - Sequoia Mortgage Trust 2011-2d891415dex342.htm
EX-33.8 - EX-33.8 - Sequoia Mortgage Trust 2011-2d891415dex338.htm
EX-33.7 - EX-33.7 - Sequoia Mortgage Trust 2011-2d891415dex337.htm
EX-33.9 - EX-33.9 - Sequoia Mortgage Trust 2011-2d891415dex339.htm
EX-34.9 - EX-34.9 - Sequoia Mortgage Trust 2011-2d891415dex349.htm
EX-35.2 - EX-35.2 - Sequoia Mortgage Trust 2011-2d891415dex352.htm
EX-33.11 - EX-33.11 - Sequoia Mortgage Trust 2011-2d891415dex3311.htm
EX-34.10 - EX-34.10 - Sequoia Mortgage Trust 2011-2d891415dex3410.htm
EX-35.6 - EX-35.6 - Sequoia Mortgage Trust 2011-2d891415dex356.htm
EX-34.4 - EX-34.4 - Sequoia Mortgage Trust 2011-2d891415dex344.htm
EX-33.5 - EX-33.5 - Sequoia Mortgage Trust 2011-2d891415dex335.htm
EX-33.6 - EX-33.6 - Sequoia Mortgage Trust 2011-2d891415dex336.htm
EX-35.3 - EX-35.3 - Sequoia Mortgage Trust 2011-2d891415dex353.htm
EX-35.8 - EX-35.8 - Sequoia Mortgage Trust 2011-2d891415dex358.htm
EX-35.1 - EX-35.1 - Sequoia Mortgage Trust 2011-2d891415dex351.htm
EX-34.3 - EX-34.3 - Sequoia Mortgage Trust 2011-2d891415dex343.htm
EX-34.5 - EX-34.5 - Sequoia Mortgage Trust 2011-2d891415dex345.htm
EX-34.8 - EX-34.8 - Sequoia Mortgage Trust 2011-2d891415dex348.htm
EX-34.6 - EX-34.6 - Sequoia Mortgage Trust 2011-2d891415dex346.htm
EX-34.7 - EX-34.7 - Sequoia Mortgage Trust 2011-2d891415dex347.htm
EX-35.9 - EX-35.9 - Sequoia Mortgage Trust 2011-2d891415dex359.htm
EX-35.4 - EX-35.4 - Sequoia Mortgage Trust 2011-2d891415dex354.htm
EX-35.7 - EX-35.7 - Sequoia Mortgage Trust 2011-2d891415dex357.htm
EX-35.5 - EX-35.5 - Sequoia Mortgage Trust 2011-2d891415dex355.htm
EX-33.10 - EX-33.10 - Sequoia Mortgage Trust 2011-2d891415dex3310.htm

Exhibit 34.1

 

KPMG LLP

Suite 1400

55 Second Street

San Francisco, CA 94105

Report of Independent Registered Public Accounting Firm

The Board of Directors

First Republic Bank:

We have examined management’s assessment, included in the accompanying Management Assessment, that First Republic Bank (the Bank) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commission’s Regulation AB for residential mortgage loans serviced for others (the Platform), except for the servicing criteria 1122(d)(1)(iii), 1122(d)(3)(i)(C), and 1122(d)(4)(xv), which the Bank has determined are not applicable to the activities it performs with respect to the Platform, as of and for the year ended December 31, 2014. Appendix A to the Management Assessment identifies the individual asset-backed transactions and securities defined by management as constituting the Platform. Management is responsible for the Bank’s compliance with the servicing criteria. Our responsibility is to express an opinion on management’s assessment about the Bank’s compliance based on our examination.

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Bank’s compliance with the servicing criteria specified above and performing such other procedures as we considered necessary in the circumstances. Our examination included testing selected asset-backed transactions and securities that comprise the Platform, testing selected servicing activities related to the Platform, and determining whether the Bank processed those selected transactions and performed those selected activities in compliance with the servicing criteria. Furthermore, our procedures were limited to the selected transactions and servicing activities performed by the Bank during the period covered by this report. Our procedures were not designed to determine whether errors may have occurred either prior to or subsequent to our tests that may have affected the balances or amounts calculated or reported by the Bank during the period covered by this report for the selected transactions or any other transactions. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Bank’s compliance with the servicing criteria.

As described in the accompanying Management’s Assessment, for servicing criteria 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xii), the Bank has engaged certain vendors to perform the activities required by these servicing criteria. The Bank has determined that none of these vendors are deemed to be “servicers” as defined in Item 1101(j) of Regulation AB, and the Bank has elected to take responsibility for assessing compliance with the servicing criteria applicable to these vendors as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of Publicly Available Telephone Interpretations (“Interpretation 17.06”). As permitted by Interpretation 17.06, the Bank has asserted that it 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 is solely responsible for determining that it meets the SEC requirements to apply Interpretation 17.06 for the vendors and related criteria as described in its assertion, and we performed no procedures with respect to the Bank’s eligibility to apply Interpretation 17.06.

In our opinion, management’s assessment that First Republic Bank complied with the aforementioned servicing criteria, including 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xii) for which compliance is determined based on Interpretation 17.06 as described above, as of and for the year ended December 31, 2014 is fairly stated, in all material respects.

 

/s/ KPMG LLP

San Francisco, California

February 27, 2015

KPMG LLP is a Delaware limited liability partnership,

the U.S. member firm of KPMG International Cooperative

(“KPMG International”), a Swiss entity.


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   
    

 

 

    

 

 

 

Total

  13,947    $ 9,603,226,391.27