Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Annual Report 8± 34K
3: EX-33 ABS - Report of Compliance with Servicing Criteria 8± 35K
4: EX-33 ABS - Report of Compliance with Servicing Criteria 9± 52K
5: EX-33 ABS - Report of Compliance with Servicing Criteria 2± 14K
6: EX-33 ABS - Report of Compliance with Servicing Criteria 2± 12K
7: EX-34 ABS - Attestation Report on Assessment of 2± 11K
Compliance with Servicing Criteria
8: EX-34 ABS - Attestation Report on Assessment of 2± 13K
Compliance with Servicing Criteria
9: EX-34 ABS - Attestation Report on Assessment of 2± 14K
Compliance with Servicing Criteria
10: EX-34 ABS - Attestation Report on Assessment of 2± 11K
Compliance with Servicing Criteria
11: EX-35 ABS - Servicer Compliance Statement 5± 28K
12: EX-35 ABS - Servicer Compliance Statement 7± 28K
2: EX-31 Certification -- Sarbanes-Oxley Act - Sect. 302 1 9K
EX-33 — ABS – Report of Compliance with Servicing Criteria
EX-33.2
(logo) WELLS FARGO
Wells Fargo Bank. N.A.
Home Mortgage Division
1 Home Campus
Des Moines, IA 50328-0001
Wells Fargo Bank, N.A.
2007 Certification Regarding Compliance with Applicable Servicing Criteria
1. Wells Fargo Bank, N.A. (the "Servicer") is responsible for assessing
compliance with the servicing criteria applicable to it under paragraph (d)
of Item 1122 of Regulation AB, as of and for the year ended December 31,
2007 (the "Reporting Period"), as set forth in Exhibit A hereto. The
transactions covered by this report include transactions for which the
Servicer's Wells Fargo Home Mortgage division acted as the primary servicer
of residential mortgage loans, other than the servicing of such loans for
Freddie Mac, Fannie Mae, Ginnie Mae, state and local government bond
programs, or a Federal Home Loan Bank (the "Platform");
2. The Servicer has engaged certain vendors, which are not deemed to be
servicers as defined in Item 1101(j) of Regulation AB (the "Vendors"), to
perform specific, limited or scripted activities for the Reporting Period,
and the Servicer has elected to take responsibility for assessing
compliance with the servicing criteria or portion of the servicing criteria
applicable to such Vendors' activities as set forth in Exhibit A hereto;
3. Except as set forth in paragraph 4 below, the Servicer used the criteria
set forth in paragraph (d) of Item 1122 of Regulation AB to assess the
compliance with the applicable servicing criteria;
4. The criteria listed in the column titled "Inapplicable Servicing Criteria"
on Exhibit A hereto are inapplicable to the Servicer based on the
activities it performs, directly or through its Vendors, with respect to
the Platform;
5. The Servicer has complied, in all material respects, with the applicable
servicing criteria as of December 31, 2007, and for the Reporting Period
with respect to the Platform taken as a whole;
6. The Servicer has not identified and is not aware of any material instance
of noncompliance by the Vendors with the applicable servicing criteria as
of December 31, 2007, or for the Reporting Period with respect to the
Platform taken as a whole;
7. The Servicer has not identified any material deficiency in its policies and
procedures to monitor the compliance by the Vendors with the applicable
servicing criteria as of December 31, 2007, or for the Reporting Period
with respect to the Platform taken as a whole; and
8. KPMG LLC, a registered public accounting firm, has issued an attestation
report on the Servicer's assessment of compliance with the applicable
servicing criteria for the Reporting Period, which attestation report is
included on Exhibit B attached hereto.
February, 25, 2008
WELLS FARGO BANK, N.A.
By: /s/ Mary C. Coffin
Mary C. Coffin
Executive Vice President
(page)
EXHIBIT A
to
Wells Fargo Bank, N.A.'s
2007 Certification Regarding Compliance With Applicable Servicing Criteria
[Enlarge/Download Table]
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by
by subservicer(s) NOT
Vendor(s) or vendor(s) performed by
for which for which Servicer or by
Performed Servicer is Servicer is subservicer(s)
Directly the NOT the or vendor(s)
by Responsible Responsible retained by
Reference Criteria Servicer Party Party Servicer
General Servicing Considerations
1122(d)(1)(i) Policies and procedures are instituted X
to monitor any performance or other
triggers and events of default in
accordance with the transaction
agreements.
1122(d)(1)(ii) If any material servicing activities X
are outsourced to third parties, policies
and procedures are instituted to monitor
the third party's performance and
compliance with such servicing
activities.
1122(d)(1)(iii) Any requirements in the transaction X
agreements to maintain a back-up servicer
for the mortgage loans are maintained.
1122(d)(1)(iv) A fidelity bond and errors and X
omissions policy is in effect on the
party participating in the servicing
function throughout the reporting period
in the amount of coverage required by and
otherwise in accordance with the terms of
the transaction agreements.
Cash Collection and Administration
1122(d)(2)(i) Payments on mortgage loans are deposited X^1 X^2
into the appropriate custodial bank
accounts and related bank clearing
accounts no more than two business days
following receipt, or such other number
of days specified in the transaction
agreements.
1122(d)(2)(ii) Disbursements made via wire transfer on X
behalf of an obligor or to an investor are
made only by authorized personnel.
1122(d)(2)(iii) Advances of funds or guarantees X
regarding collections, cash flows or
distributions, and any interest or other
fees charged for such advances, are made,
reviewed and approved as specified in
the transaction agreements.
1122(d)(2)(iv) The related accounts for the X
transaction, such as cash reserve
accounts or accounts established as a
form of overcollateralization, are
separately maintained (e.g., with respect
to commingling of cash) as set forth in
the transaction agreements.
1122(d)(2)(v) Each custodial account is maintained at X
a federally insured depository
institution as set forth in the
transaction agreements. For purposes of
this criterion, "federally insured
depository institution" with respect to a
foreign financial institution means a
foreign financial institution that meets
the requirements of Rule 13k-1(b)(1)
of the Securities Exchange Act.
1122(d)(2)(vi) Unissued checks are safeguarded so as X^3 X^4
to prevent unauthorized access.
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by
by subservicer(s) NOT
Vendor(s) or vendor(s) performed by
for which for which Servicer or by
Performed Servicer is Servicer is subservicer(s)
Directly the NOT the or vendor(s)
by Responsible Responsible retained by
Reference Criteria Servicer Party Party Servicer
1122(d)(2)(vii) Reconciliations are prepared on a X
monthly basis for all asset-backed
securities related bank accounts,
including custodial accounts and related
bank clearing accounts. These
reconciliations are (A) mathematically
accurate; (B) prepared within 30
calendar days after the bank statement
cutoff date, or such other number of days
specified in the transaction agreements;
(C) reviewed and approved by someone
other than the person who prepared the
reconciliation; and (D) contain
explanations for reconciling items.
These reconciling items are resolved
within 90 calendar days of their original
identification, or such other number of
days specified in the transaction
agreements.
Investor Remittances and Reporting
1122(d)(3)(i) Reports to investors, including those X
to be filed with the Commission, are
maintained in accordance with the
transaction agreements and applicable
Commission requirements. Specifically,
such reports (A) are prepared in
accordance with timeframes and other
terms set forth in the transaction
agreements; (B) provide information
calculated in accordance with the terms
specified in the transaction agreements;
(C) are filed with the Commission as
required by its rules and regulations;
and (D) agree with the investors' or
trustee's records as to the total unpaid
principal balance and number of mortgage
loans serviced by the Servicer.
1122(d)(3)(ii) Amounts due to investors are allocated X
and remitted in accordance with
timeframes, distribution priority and
other terms set forth in the transaction
agreements.
1122(d)(3)(iii) Disbursements made to an investor are X
posted within two business days to the
Servicer's investor records, or such other
number of days specified in the transaction
agreements.
1122(d)(3)(iv) Amounts remitted to investors per the X
investor reports agree with cancelled
checks, or other form of payment, or
custodial bank statements.
Pool Asset Administration
1122(d)(4)(i) Collateral or security on mortgage loans X
is maintained as required by the
transaction agreements or related mortgage
loan documents.
1122(d)(4)(ii) Mortgage loan and related documents are X
safeguarded as required by the
transaction agreements.
1122(d)(4)(iii) Any additions, removals or substitutions X
to the asset pool are made, reviewed and
approved in accordance with any conditions
or requirements in the transaction agreements.
1122(d)(4)(iv) Payments on mortgage loans, including any X^5 X^6
payoffs, made in accordance with related
mortgage loan documents are posted to the
Servicer's obligor records maintained no
more than two business days after
receipt, or such other number of days
specified in the transaction agreements,
and allocated to principal, interest or
other items (e.g., escrow) in accordance
with the related mortgage loan documents.
1122(d)(4)(v) The Servicer's records regarding the X
mortgage loans agree with the Servicer's
records with respect to an obligor's
unpaid principal balance.
INAPPLICABLE
APPLICABLE SERVICING
SERVICING CRITERIA SERVICING CRITERIA CRITERIA
Performed Performed by
by subservicer(s) NOT
Vendor(s) or vendor(s) performed by
for which for which Servicer or by
Performed Servicer is Servicer is subservicer(s)
Directly the NOT the or vendor(s)
by Responsible Responsible retained by
Reference Criteria Servicer Party Party Servicer
1122(d)(4)(vi) Changes with respect to the terms or X
status of an obligor's mortgage loans (e.g.,
loan modifications or re-agings) are
made, reviewed and approved by authorized
personnel in accordance with the
transaction agreements and related pool
asset documents.
1122(d)(4)(vii) Loss mitigation or recovery actions X
(e.g., forbearance plans, modifications
and deeds in lieu of foreclosure,
foreclosures and repossessions, as
applicable) are initiated, conducted and
concluded in accordance with
the timeframes or other requirements
established by the transaction
agreements.
1122(d)(4)(viii) Records documenting collection efforts X
are maintained during the period a mortgage
loan is delinquent in accordance with
the transaction agreements. Such records
are maintained on at least a monthly
basis, or such other period specified in
the transaction agreements, and describe
the entity's activities in monitoring
delinquent mortgage loans including, for
example, phone calls, letters and
payment rescheduling plans in cases where
delinquency is deemed temporary (e.g.,
illness or unemployment).
1122(d)(4)(ix) Adjustments to interest rates or rates X
of return for mortgage loans with variable
rates are computed based on the related
mortgage loan documents.
1122(d)(4)(x) Regarding any funds held in trust for X
an obligor (such as escrow accounts): (A)
such funds are analyzed, in accordance
with the obligor's mortgage loan documents,
on at least an annual basis, or such
other period specified in the transaction
agreements; (B) interest on such funds is
paid, or credited, to obligors in
accordance with applicable mortgage loan
documents and state laws; and (C) such
funds are returned to the obligor within
30 calendar days of full repayment of the
related mortgage loans, or such other number
of days specified in the transaction
agreements.
1122(d)(4)(xi) Payments made on behalf of an obligor X^7 X^8
(such as tax or insurance payments) are
made on or before the related penalty or
expiration dates, as indicated on the
appropriate bills or notices for such
payments, provided that such support has
been received by the Servicer at least 30
calendar days prior to these dates, or
such other number of days specified in
the transaction agreements.
1122(d)(4)(xii) Any late payment penalties in X
connection with any payment to be made on
behalf of an obligor are paid from the
Servicer's funds and not charged to the
obligor, unless the late payment was due
to the obligor's error or omission.
1122(d)(4)(xiii) Disbursements made on behalf of an X^9 X^10
obligor are posted within two business
days to the obligor's records maintained
by the Servicer, or such other number of
days specified in the transaction
agreements.
1122(d)(4)(xiv) Delinquencies, charge-offs and X
uncollectible accounts are recognized and
recorded in accordance with the
transaction agreements.
1122(d)(4)(xv) Any external enhancement or other X
support identified in Item
1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set
forth in the transaction agreements.
<FN>
1 A portion of this servicing criteria is performed by a vendor, as set forth in footnote 2 below.
2 A lockbox vendor receives payments, creates transaction files, deposits checks, reconciles files to deposits and transmits the
transaction files to Wells Fargo.
3 A portion of this servicing criteria is performed by vendors, as set forth in footnote 4 below.
4 Insurance vendors prepare and safeguard checks on behalf of Wells Fargo.
5 A portion of this servicing criteria is performed by a vendor, as set forth in footnote 6 below.
6 A lockbox vendor receives payments, creates transaction files, deposits checks, reconciles files to deposit and transmits the
transaction files to Wells Fargo.
7 A portion of this servicing criteria is performed by vendors, as set forth in footnote 8 below.
8 Insurance vendors obtain renewal invoices, create disbursement transactions and submit payments to payees.
9 A portion of this servicing criteria is performed by one or more vendors, as set forth in footnote 10 below.
10 Insurance vendors obtain renewal invoices, create disbursement transactions and submit payments to payees.
</FN>
(page)
EXHIBIT B
to
Wells Fargo Bank, N.A.'s
2007 Certification Regarding Compliance With Applicable Servicing Criteria
Report of Independent Registered Public Accounting Firm
The Board of Directors
Wells Fargo Bank, N.A.:
We have examined management's assessment, included in the accompanying 2007
Certification Regarding Compliance with Applicable Servicing Criteria, that
Wells Fargo Bank, N.A. (the Company) complied with the servicing criteria
set forth in Item 1122(d) of the Securities and Exchange Commission's
Regulation AB for its primary servicing of residential mortgage loans by its
Wells Fargo Home Mortgage division, other than the servicing of such loans
for Freddie Mac, Fannie Mae, Ginnie Mae, state and local bond programs, or a
Federal Home Loan Bank (the Platform), except for servicing criteria
1122(d)(1)(iii) and 1122(d)(4)(xv), which the Company has determined are not
applicable to the activities it performs with respect to the Platform, as of
and for the year ended December 31, 2007. Management is responsible for the
Company's compliance with those servicing criteria. Our responsibility is to
express an opinion on management's assessment about the Company'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 Company'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 Company 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 Company 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 Company 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 Company's compliance
with the servicing criteria.
As described in the accompanying 2007 Certification Regarding Compliance with
Applicable Servicing Criteria, for servicing criteria 1122(d)(2)(i),
1122(d)(2)(vi), 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xiii), the
Company has engaged various vendors to perform the activities required by
these servicing criteria. The Company has determined that none of these vendors
is considered a "servicer" as defined in Item 1101(j) of Regulation AB, and the
Company 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"). As permitted by
Interpretation 17.06, the Company 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 Company 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 Company's eligibility to apply
Interpretation 17.06.
(page)
(logo) KPMG
In our opinion, management's assessment that the Company complied with the
aforementioned servicing criteria, including servicing criteria 1122(d)(2)(i),
1122(d)(2)(vi), 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xiii) for which
compliance is determined based on Interpretation 17.06 as described above, as
of and for the year ended December 31, 2007 is fairly stated, in all material
respects.
/s/ KPMG LLP
Des Moines, Iowa
February 25, 2008
KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative
Dates Referenced Herein
| This ‘10-K’ Filing | | Date | | Other Filings |
|---|
| |  |
| Filed on: | | 3/25/08 | | None on these Dates |
| | 2/25/08 |
| For Period End: | | 12/31/07 |
| List all Filings |
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