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: | | 3/25/08 | | None on these Dates |
| For Period End: | | 12/31/07 |
| List all Filings |
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