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MERS: Guidance for Servicing Transfers and Document DeliveriesAs of March 6, 2017

MBA’s Servicing Transfer Matrix contains suggested practices for managing servicing transfers. This matrix was assembled through consensus input from MBA members, investors and outside counsel to assist MBA members in better understanding and structuring servicing transfers. The matrix is current as of the date listed.

©2017 Mortgage Bankers Association. All rights reserved. This document is being provided to you with a limited license for use solely within your organization. Unauthorized reproduction, forwarding, distribution or display of this copyrighted work is subject to penalties under federal law.

The information in this document is provided for informational purposes only and does not constitute the giving of legal advice by MBA or any of the contributors to this document. Though reasonable efforts have been made to assure reliability of the information herein, it is not guaranteed. You should seek appropriate professional advice before taking any actions based on the information contained in this document.

MERS: GUIDANCE FOR SERVICING TRANSFERS AND DOCUMENT DELIVERIES AS OF MARCh 6, 2017 3

Parties Involved(Practical recommendation on which parties should be involved in a matter are indicated below and not necessarily actual, final,

responsibility for the matter)

No. Task Timing Transferor Servicer

Transferee Servicer MERS Transferor

CustodianTransferee Custodian

Guide Reference Section(s)

1Verify all loans bought or sold were/are set up in beneficial, servicing or combined transfer batches

Within 7 calendar days of effective date (the date defined in the Purchase and Sale Agreement, on which the buyer begins servicing the loans on its servicing system)

✓ ✓MERS Procedures version 29.0 ; TOS and TB QA Standards pg 103

2Verify that the batches for all loans sold during the previous month were accepted by the Investor/buyer, or confirmed by Member if the MINs are being purchased

Prior to expiration date of the batch (within 30 days of the sale date or batch creation date, whichever is later)

✓ ✓MERS Procedures version 29.0 ; TOS and TB QA Standards pg 103

3

Verify with the purchaser of any loans sold, the status of any rejected MINs or batches, and if necessary, make any corrections to the batch or MIN level detail to allow acceptance of the transfer by the Investor/buyer (or delete batch and create corrected batch, if applicable).

As soon as possible ✓ ✓MERS Procedures version 29.0 ; TOS and TB QA Standards pg 103

4

If the purchaser is a Member, validate that the MINs in the transfer batch(es) are correct and accept the MINs or batches prior to the batch expiration date or report any discrepancies to the seller and reject those MINs or batches.

Prior to expiration date of the batch (within 30 days of the sale date or batch creation date, whichever is later)

✓ ✓MERS Procedures version 29.0 ; TOS and TB QA Standards pg 103

MERS: Guidance for Servicing Transfers and Document Deliveries