SEC Info  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Wells Fargo Mortgage Backed Securities 2007-11 Trust – ‘10-K’ for 12/31/07 – ‘EX-33’

On:  Tuesday, 3/25/08, at 4:41pm ET   ·   For:  12/31/07   ·   Accession #:  1056404-8-822   ·   File #:  333-137620-16

Magnifying glass tilted right emoji
 
  in    Show  and   Hints

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/25/08  Wells Fargo Mtge Backed Secs … Tr 10-K       12/31/07   12:93K                                    Norwest Asset SEC Co… Tr

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-33.1 (logo) HSBC REPORT ON COMPLIANCE WITH APPLICABLE SERVICING CRITERIA PURSUANT TO ITEM 1122 OF REGULATION AB UNDER THE SECURITIES EXCHANGE ACT OF 1934 1. HSBC Bank USA N.A. (the "Company") 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 12-month period ending December 31, 2007 (the "Reporting Period"), as set forth in Schedule I hereto (the "Applicable Servicing Criteria"). The individual asset-backed transactions and securities covered by this report are listed in Schedule II (the "Covered Transactions") and are defined by management as constituting the Platform; 2. Except as set forth in paragraph 3 below, the Company used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess compliance with the Applicable Servicing Criteria; 3. The criteria listed as "Not applicable" on Schedule I hereto are not applicable to the Company because the Company does not perform activities with respect to the Covered Transactions relating to those criteria; 4. The Company 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 Covered Transactions taken as a whole; 5. KPMG LLP, an independent registered public accounting firm, has issued an attestation report on the Company's assessment of compliance with the Applicable Servicing Criteria for the Reporting Period. IN WITNESS WHEREOF, I have signed this report on behalf of the Company this 3rd day of March, 2008. /s/ Kevin T. O'Brien Kevin T. O'Brien Senior Vice President Corporate Trust and Loan Agency /s/ Thomas Musarra Thomas Musarra Vice President Corporate Trust and Loan Agency HSBC Bank USA, National Association Corporate Trust and Loan Agency, 452 Fifth Avenue, New York, NY 10016-0200 Fax: (212) 525-1300 (page) Schedule I [Download Table] APPLICABLE SERVICING CRITERIA SERVICING CRITERIA Reference Criteria 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 Not applicable 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 Not applicable agreements to maintain a back-up servicer for the pool assets 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 pool assets are deposited Not applicable into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days of receipt, or such other number of days specified in the transaction agreements. 1122(d)(2)(ii) Disbursements made via wire transfer on Not applicable behalf of an obligor or to investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees Not applicable 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 Not applicable 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 Not applicable 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) under the Securities Exchange Act of 1934, as amended. 1122(d)(2)(vi) Unissued checks are safeguarded so as Not applicable to prevent unauthorized access. 1122(d)(2)(vii) Reconciliations are prepared on a Not applicable monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations (A) are mathematically accurate; (B) are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) are 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 Not applicable 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 pool assets serviced by the servicer. 1122(d)(3)(ii) Amounts due to investors are allocated Not applicable and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 2 APPLICABLE SERVICING CRITERIA SERVICING CRITERIA Reference Criteria 1122(d)(3)(iii) Disbursements made to an investor are Not applicable 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 Not applicable 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 pool assets Not applicable is maintained as required by the transaction agreements or related pool asset documents. 1122(d)(4)(ii) Pool assets and related documents are Not applicable safeguarded as required by the transaction agreements. 1122(d)(4)(iii) Any additions, removals or X substitutions 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 pool assets, including any Not applicable payoffs, made in accordance with the related pool asset 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 pool asset documents. 1122(d)(4)(v) The servicer's records regarding the Not applicable pool assets agree with the servicer's records with respect to an obligor's unpaid principal balance. 1122(d)(4)(vi) Changes with respect to the terms or Not applicable status of an obligor's pool asset (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 Not applicable (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 Not applicable are maintained during the period a pool asset 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 home equity 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 Not applicable of return for pool assets with variable rates are computed based on the related pool asset documents. 1122(d)(4)(x) Regarding any funds held in trust for Not applicable an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset 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 pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) Payments made on behalf of an obligor Not applicable (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 Not applicable 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 Not applicable 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 Not applicable uncollectible accounts are recognized and recorded in accordance with the transaction agreements. 1122(d)(4)(xv) Any external enhancement or other Not applicable support identified in Item 1114(a)(1) through (3) or Item 1115 of this Regulation AB, is maintained as set forth in the transaction agreements. 3 (page) Schedule II WELLS FARGO MORTGAGE-BACKED SECURITIES SERIES CLOSED WFMBS 2006-5 4/27/2006 WFMBS 2006-6 4/27/2006 WFMBS 2006-7 5/30/2006 WFMBS 2006-AR7 4/25/2006 WFMBS 2006-AR8 4/27/2006 WFMBS 2006-8 6/29/2006 WFMBS 2006-9 7/28/2006 WFMBS 2006-10 7/28/2006 WFMBS 2006-AR10 6/29/2006 WFMBS 2006-AR11 7/28/2006 WFMBS 2006-11 8/30/2006 WFMBS 2006-AR12 8/30/2006 WFMBS 2006-12 9/28/2006 WFMBS 2006-AR13 8/30/2006 WFMBS 2006-13 9/28/2006 WFMBS 2006-14 9/28/2006 WFMBS 2006-AR14 9/28/2006 WFMBS 2006-AR15 9/28/2006 WFMBS 2006-15 10/30/2006 WFMBS 2006-16 10/30/2006 WFMBS 2006-AR16 9/22/2006 WFMBS 2006-AR17 9/28/2006 WFMBS 2006-17 10/27/2006 WFMBS 2006-AR18 10/24/2006 WFMBS 2006-18 11/28/2006 WFMBS 2006-AR19 11/21/2006 WFMBS 2006-19 11/29/2006 WFMBS 2006-20 11/29/2006 WFMBS 2007-1 1/29/2007 WFMBS 2007-2 2/27/2007 WFMBS 2007-AR3 3/21/2007 WFMBS 2007-3 3/28/2007 WFMBS 2007-4 3/28/2007 WFMBS 2007-5 4/27/2007 WFMBS 2007-6 4/27/2007 WFMBS 2007-7 5/30/2007 WFMBS 2007-8 6/28/2007 WFMBS 2007-9 6/28/2007 4 (page) WFMBS 2007-10 6/28/2007 WFMBS 2007-11 7/30/2007 WFMBS 2007-12 8/29/2007 WFMBS 2007-13 8/29/2007 WFMBS 2007-AR4 8/30/2007 WFMBS 2007-14 9/28/2007 WFMBS 2007-AR5 10/25/2007 WFMBS 2007-AR6 10/25/2007 WFMBS 2007-15 10/29/2007 WFMBS 2007-AR7 11/27/2007 WFMBS 2007-16 11/28/2007 WFMBS 2007-AR8 11/29/2007 WFMBS 2007-AR9 11/29/2007 WFMBS 2007-17 12/20/2007 WFMBS 2007-AR10 12/21/2007 WELLS FARGO HOME EQUITY TRUST SECURITIES WFHET 2006-1 5/30/2006 WFHET 2006-2 6/29/2006 WFHET 2006-3 12/21/2006 WFHET 2007-1 3/30/2007 WFHET 2007-2 4/20/2007 WELLS FARGO ALTERNATIVE LOAN TRUST SECURITIES WFALT 2007-PA1 2/27/2007 WFALT 2007-PA2 5/24/2007 WFALT 2007-PA3 6/27/2007 WFALT 2007-PA4 7/25/2007 WFALT 2007-PA5 10/29/2007 WFALT 2007-PA6 11/28/2007 5

Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/25/08None on these Dates
For Period End:12/31/07
 List all Filings 
Top
Filing Submission 0001056404-08-000822   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Copyright © 2020 Fran Finnegan & Company LLC – All Rights Reserved.
AboutPrivacyRedactionsHelp — Wed., Dec. 2, 1:40:00.0am ET