Attached files

file filename
10-K - FORM 10-K - Sequoia Mortgage Trust 2013-1d891620d10k.htm
EX-33.8 - EX-33.8 - Sequoia Mortgage Trust 2013-1d891620dex338.htm
EX-34.5 - EX-34.5 - Sequoia Mortgage Trust 2013-1d891620dex345.htm
EX-34.8 - EX-34.8 - Sequoia Mortgage Trust 2013-1d891620dex348.htm
EX-33.4 - EX-33.4 - Sequoia Mortgage Trust 2013-1d891620dex334.htm
EX-33.1 - EX-33.1 - Sequoia Mortgage Trust 2013-1d891620dex331.htm
EX-33.2 - EX-33.2 - Sequoia Mortgage Trust 2013-1d891620dex332.htm
EX-33.7 - EX-33.7 - Sequoia Mortgage Trust 2013-1d891620dex337.htm
EX-34.4 - EX-34.4 - Sequoia Mortgage Trust 2013-1d891620dex344.htm
EX-34.2 - EX-34.2 - Sequoia Mortgage Trust 2013-1d891620dex342.htm
EX-34.1 - EX-34.1 - Sequoia Mortgage Trust 2013-1d891620dex341.htm
EX-31 - EX-31 - Sequoia Mortgage Trust 2013-1d891620dex31.htm
EX-34.7 - EX-34.7 - Sequoia Mortgage Trust 2013-1d891620dex347.htm
EX-33.5 - EX-33.5 - Sequoia Mortgage Trust 2013-1d891620dex335.htm
EX-35.3 - EX-35.3 - Sequoia Mortgage Trust 2013-1d891620dex353.htm
EX-35.6 - EX-35.6 - Sequoia Mortgage Trust 2013-1d891620dex356.htm
EX-35.1 - EX-35.1 - Sequoia Mortgage Trust 2013-1d891620dex351.htm
EX-35.2 - EX-35.2 - Sequoia Mortgage Trust 2013-1d891620dex352.htm
EX-35.4 - EX-35.4 - Sequoia Mortgage Trust 2013-1d891620dex354.htm
EX-35.5 - EX-35.5 - Sequoia Mortgage Trust 2013-1d891620dex355.htm
EX-33.6 - EX-33.6 - Sequoia Mortgage Trust 2013-1d891620dex336.htm
EX-34.6 - EX-34.6 - Sequoia Mortgage Trust 2013-1d891620dex346.htm
EX-33.3 - EX-33.3 - Sequoia Mortgage Trust 2013-1d891620dex333.htm

Exhibit 34.3

 

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.

KPMG LLP is a Delaware limited liability partnership,

the U.S. member firm of KPMG International Cooperative

(“KPMG International”), a Swiss entity.


/s/ KPMG LLP

San Francisco, California

February 27, 2015


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 MortgageTrust 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 Turst 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