US Bank vs. Delina Pierre

8/2/2019 US Bank vs. Delina Pierre

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EX - 4 2 exhibi t41 .htm E X H I B I T 4 .1EXECUTION

A E G I S ASSET B A C K E D S E C U R I T I E S C O R P O R A T IO N ,Depos i t o r

A E G I S M O R T G A G E C O R P O R A T I O N ,Sel l e r

W E L L S F A R G O B A N K , N . A . ,Master Serv icer , Sec ur i t i es Ad minis t ra to r a n d C us t od i an

O C W E N L O A N S E R V I C I N G , L L C ,Serv i ce r

M O R T G A G E R A M P , IN C . ,C red i t R i s k M anage r

andW A C H O V I A B A N K , N A T I O N A L A S S O C IA T I O N ,

Tru s t ee

P O O L I N G A N D S E R V I C I N G A G R E E M E N TDated as of October 1, 2005

A E G I S A S S E T B A C K E D S E C U R I T I E S T R U S TM O R T G A G E P A S S - T H R O U G H C E R T I F I C A T E S , S E R I E S 2005-5


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PROSPECTUS SUPPLEMENT(To Prospectus dated June 10, 2005)$1,165,200,000 (Approximate)

AEGIS ASSET BACKED SECURITIES TRUSTMortgage Pass-Through Certificates, Series 2005-5

egisAegis Mortgage Corporation, Aegis Asse t Backed Securities Corporation,Sponsor an d Seller DepositorWells Fargo Bank, N.A.,

Master ServicerThe trust fund will issue certificates including the following classes offered hereby: Five classes of senior certificates. Eleven classes of subordinate certificates.The classes of certificates offered by this prospectus supplement are listed, together with their initial classprincipal amounts and interest rates, under "Summary of TermsThe Offered Certificates" on page S-2 of thisprospectus supplement. This prospectus supplemen t and the accompanying prospectus relate only to the offering of

the certificates listed in the table on page S-2 and not to any other classes of certificates that will be issued by thetrust fund as described in this prospectus supplement. Principal and interest on each class of offered certificates w illbe payable monthly beginning in November 2005. Credit enhancement for the offered certificates will include excessinterest, overcollateralization, subordination, loss allocation and limited cross-collateralization features. Amountspayable under an interest rate swap agreement provided by Bear Stearns Financial Products Inc. will be applied topay certain interest shortfalls, maintain overcollateralization and repay certain losses on the certificates.The assets of the trust fund will primarily consist of two pools of conventional, first and second lien, adjustableand fixed rate, fully amortizing and balloon, residential mortgage loans that were originated in accordance withunderwriting guidelines that are not as strict as Fannie Mae and Freddie Ma c guidelines. After the closing date, butbefore November 18, 2005, we expect that the trust fund will acquire additional mortgage loans as described under"Description of the Mortgage PoolsConveyance of Subsequent Mortgage Loans" in this prospectus supplement.

Investing in the offered certificates involves risks. You should consider ca refully the facto rs discussedunder "Risk Factors" beginning on page S-15 of this prospectus supplement and page 4 of theaccompanying prospectus.The certificates will represent interests in the trust fund only and will not represent interests in or obligations ofany other entity.

Neither the Securities and Exchange Commission nor any state securities commission has approved ordisapproved the certificates or determined that this prospectus supplement or the accompanying prospectusis accurate or complete. An y representation to the contrary is a criminal offense.

The certificates offered by this prospectus supplement will be purchased by the underwriters from Aegis AssetBacked Securities C orporation, and are being offered from time to time fo r sale to the public in negotiated transactionsor otherwise at varying prices to be determined at the time of sale. The underwriters have the right to reject any order.Proceeds to Aegis Asset Backed Securities Corporation from the sale of these certificates will be approximately99.75% of their initial total class principal amount before deducting expenses.


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Summary of TermsThis summary highlights selected information from this document and does not contain all of theinformation that you need to consider in ma king your investment decision. To understand all ofthe terms of the offering of the certificates, it is necessary that you read car efully this entiredocument and the accompanying prospectus.While this summary contains an overview of certain calculations, cashflow priorities and otherinformation to a id your understanding, you should read carefully the full description of thesecalculations, cashflow priorities and other information in this prospectus supplement and theaccompanying prospectus before ma king any investment decision.Whenever we refer to a percentage of some or all of the m ortgage loans in the trust fund or in amortgage pool, that percentage ha s been calculated on the basis of the total scheduled principalbalance as of October 1, 2005 of the mortgage loans included in the statistical mortgage pooldescribed in this prospectus supplement, unless we specify otherwise. W e explain in thisprospectus supplement under "Description of the Mortgage PoolsGeneral" how the statisticalmortgage pool m ay vary from the initial mortgage loans delivered on the closing date and under"Description of the CertificatesDistributions of Principal" how the scheduled principal balanceof a m ortgage loan is determined. Whenever we refer in this summ ary of term s or in the riskfactors section of this prospectus supplem ent to the total principal balance of any m ortgage loans,we mean the total of their scheduled principa l balances u nless we specify otherwise.

PartiesSponsor and Seller

Aegis Mortgage Corporation.Originators

Aegis Funding Corporation, Aegis LendingCorporation and various other banks, savings andloans and other mortgage lending institutionsoriginated the mortgage loans to be included inth e t rust fund.Depositor

Aegis Asset Backed Securities Corporation,a Delaware special purpose corporation. TheDepositor maintains its principal offices at 3250Briarpark, Suite 400, Houston, Texas 77042. Itstelephone number is (713) 787-0100.Issuing Entity

Aegis Asset Backed Securities TrustMortgage Pass-Through Certificates, Series2005-5, a common law t rust formed under thelaws of the State of New York.

Securities AdministratorWells Fargo Bank, N.A.

CustodianWells Fargo Bank, N.A.

Master ServicerWells Fargo Bank, N.A.

ServicerOcwen Loan Servicing, LLC.

Interim SubservicerAegis Mortgage Corporation.

Credit Risk ManagerMortgageRamp, Inc. will monitor and advise

the servicer with respect to defaul t managementof th e mortgage loans.Swap Counterparty

The trustee will enter into an interest rateswap agreement with Bear Stearns FinancialProducts Inc. to protect against certain interest


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In addition, as described under "The Sale Agreement and the Pooling and Servicing AgreementOptional Purchase of Distressed Mortgage Loans," the majority Class X Certificateholders will havethe right to purchase any Mortgage Loan that becomes 90 or more days delinquent in payment. See"Mortgage Loan ServicingOptional Purchase of Distressed Mortgage Loans" below.The Securities Administrator and the Custodian

Wells Fargo Bank, N.A. ("Wells Fargo") will be appointed securities administrator under thePooling and Servicing Agreement (referred to in such capacity as the "Securities Administrator") and,as such, will be responsible fo r preparing certain investor reports, including th e monthly distributiondate statement to Certificateholders, providing monthly calculations to the Trustee regardingdistributions to Certificateholders and acting as Certificate Registrar and paying agent ("PayingAgent"). The Securities Administrator will be compensated by the Master Servicer for its services. Inaddition, any investment income on funds in the Distribution Account established and maintained byth e Securities Administrator, on behalf of the Trustee pursuant to the Pooling and ServicingAgreement, will be paid to the Securities Administrator. The Securities Administrator will be entitledto reimbursement from th e Trust Fund fo r certain expenses prior to distribution of any amounts toCertificateholders. The office of the Securities Administrator fo r purposes of transfers and surrenderof th e Certificates is located at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479,Attention: Aegis 2005-5, and for all other purposes is P.O. Box 98, Columbia, Maryland 21046,Attention: Aegis 2005-5 (or for overnight delivery at 9062 Old Annapolis Road, Columbia, Maryland21045-1951, Attention: Client Manager Aegis 2005-5), or any other address that th e SecuritiesAdminis t ra to r m ay designate from time to time by notice to the Certificateholders, th e Depositor andth e Trustee.

The Securities Administrator may resign at any time, in which event the Trustee will be obligatedto appoint a successor Securities Administrator. The Trustee may also remove the SecuritiesAdministrator if the Securities Administrator ceases to be eligible to continue as such under thePooling and Servicing Agreement or if the Securities Administrator becomes incapable of acting,bankrupt, insolvent or if a receiver takes charge of the Securities Administrator or its property. Uponsuch resignation or removal of the Securities Administrator, the Trustee will be entitled to appoint asuccessor Securities Administrator. The Securities Administrator may also be removed at any time bythe holders of Certificates evidencing ownership of not less than 51% of the Trust Fund. Anyresignation or removal of the Securities Administrator and appointment of a successor SecuritiesAdministrator will not become effective until acceptance of the appointment by the successorSecurities Administrator. If at any time Wells Fargo resigns, or transfers or assigns its rights andobligations, or is removed as Master Servicer, then at such time, Wells Fargo will be terminated asSecurities Administrator. In such event, the obligations of each such party shall be assumed by theTrustee or any successor master servicer or securities administrator appointed by the Trustee.

Wells Fargo will also act as custodian (the "Custodian") of the Mortgage Loan documentswithout additional compensation.The Trustee

Wachovia Bank, National Association, a national banking association, will be the trustee (the"Trustee") under the Pooling and Servicing Agreement. The Trustee will be paid a fixed annual fee(the "Trustee Fee"), and will be entitled to reimbursement from the Trust Fund for expenses andcertain other amounts prior to distribution of any amounts to Certificateholders in accordance withthe Pooling and Servicing Agreement. The Trustee's "Corporate Trust Office" is located at 401 S.Tryon Street, Charlotte, North Carolina 28288-1179, Attention: AEGIS 2005-5, or any other address


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the final payment or other liquidation of the last Mortgage Loan; the disposition of all property acquired in respect of any Mortgage Loan remaining in the

trust; an d exercise by the majo r i t y Class X Cer t if ica teholders of their r ight to purchase the MortgageLoans an d other property of the Trust Fund as described under "Description of the

CertificatesOptional Purchase of Mortgage Loans."Sale of the Mortgage Loans

In connection with the sale of the Mortgage Loans by the Depositor to the Trustee on theClosing Date, the Depositor will be required to deliver a loan file to the Custodian with respect toeach Mortgage Loan consisting of, as to each Mortgage Loan:

the original mortgage note endorsed to the order of the Trustee or in blank, or a lost noteaffidavit in lieu thereof, with al l prior and intervening endorsements; the original recorded mortgage or a cert ified copy ther eof , or if the original mortgage has

been submitted fo r recordation but has not been returned by the applicable public recordingoffice, a certif ied copy thereof; for any Mortgage Loan not recorded with the MERS System, the original assignment of the

mortgage to the Trustee or in blank, in recordable form (except as described below); each original recorded intervening assignment of the mortgage as may be necessary to show a

complete chain of title to the Trustee, or if any assignment has been submitted fo r recordationbut has not been returned from the applicable public recording office or is otherwise notavailable, a certif ied copy thereof; the original title insurance policy, certif icate of title insurance or written commitment, or acopy of such policy certified as true and correct by the insurer; and

the original or certified copies of each assumption agreement, modification agreement, writtenassurance or substitution agreement, if any.

Each transfer of the Mortgage Loans f r om the Seller to the Depositor and f rom the Depositor tothe Trustee will be intended to be a sale of the Mortgage Loans and will be reflected as such in theSale Agreement and the Pooling and Servicing Agreement, respectively. However, in the event ofinsolvency of either the Seller or the Depositor, a trustee in bankruptcy or a receiver or creditor ofthe insolvent party could attempt to recharacterize the sale of the Mortgage Loans by the insolventpar ty as a financing secured by a pledge of the Mortgage Loans. In the event that a court were torecharacterize the sale of the Mortgage Loans by either the Seller or the Depositor as a financing,each of the Depositor, as transferee of the mortgage loans from th e Seller, and the Trustee will have asecurity interest in the Mortgage Loans transferred to it. The Trustee's security interest will beperfected by delivery of the mortgage notes to the Custodian on behalf of the Trustee.

With respect to certain Mortgage Loans, it is expected that the mortgages or assignments ofmortgage will have been recorded in the name of an agent on behalf of the holder of the relatedmortgage note. In that case, no mortgage assignment in favor of the Trustee will be required to beprepared, delivered or recorded. Instead, the Servicer will be required to take all actions as arenecessary to cause the Trustee to be shown as the owner of the related mortgage loan on the recordsof th e agent fo r purposes of the system of recording t ransfers of beneficial ownership of mortgagesmaintained by the agent. Assignments of mortgage will be recorded only to the extent necessary toperfect the security interest of the Trustee in a Mortgaged Property, as provided in the Pooling andServicing Agreement.

The Custodian, on behalf of the Trustee, is required to review each mortgage note and provide


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Broward County Property Appraiser's Network http://bcpa.net/RecInfo.asp?URLJFolio=494124030400

i /* \r \ r^ A n > n f* i iL O R I P A R R S H

Site AddressProperty OwnerMailing Address

4441 NW36 COURT , LAUDERDALE LAKESU S B A N K N A T R S T E EPO BOX 24737 WE ST PALM BEACH FL 33415

ID#MillageUse

4941 24 03 0400201201

AbbreviatedLegalDescriptionLAUDERDALE LAKES WEST GATE SEC 5 54-32 B LOT 15 BLK 3

Th e just values displayed below were set in compliance with Sec. 193.011, Fla. Stat., and include areduction for costs of sale and other adjustments required by Sec. 193.011(8).

Property Assessment ValuesClick here to see 2011 Exemptions and Taxable Values to be reflected on Nov. 1, 2011 tax bill.Year Land Building Just/ MarketValue Assessed /SOH Value Ta x2012 $11,380 $146,280 $157,660 $157,6602011 $11,380 $146,280 $157,660 $157,660 $4,842.802010 $16,250 $131,780 $148,030 $148,030 $3,093.46IMPORTANT: The 2012 values currently shown are "roll over" values from 2011. These numbers willchange frequently online as we make various adjustments until they are finalized on June 1.Please check back here A FTER June 1, 2012, to see the actual proposed 2012 assessmentsand portability values.

2012 Exemptions an d Taxable Values by Taxing AuthorityCounty School Board Municipal Independent

Just Value $157,660 $157,660 $157,660 $157,660Portability 0 0 0 0Assessed/SOH $157,660 $157,660 $157,660 $157,660Homestead 0 0 0 0Add. HomesteadWid/Vet/DisSeniorExempt Type 0 0 0 0Taxable $157,660 $157,660 $157,660 $157,660

Sales H istory Land CalculationsDate Type Price Book Page Price Factor Type

8/17/2010 CET-D $76,500 47361 229 $1.75 6,500 SF9/9/2005 WD $270,000 40564 378

2/28/2003 WD $143,000 34726 981


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6461 PlaintifiAuction Closed x$76,500.00The final bid U.S. Bank, National Association, as Trustee for the;;;'ild;--- ----__i Trust. Mortgage Pass*Through Certificates, SeriesDY: zoos-s-1:I1:-t?1?' ru,roo ooamount of: j#:

08/17/201O L2:04:00 PM

Final Bid Amount: $76,500.00Clerk Fees: $0,00Auction Fee: $60.00Doc Stamps: 9535.50Total oue: --E$zud- Bid via Proxy


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Return to: AEGIS FUNDING CORPORATIONATTENTION: Final DocsP.O. BOX 421129HOUSTON, TX 77242Prepared under the supervision of:Michael L. RiddleMiddleberg, Riddle & Gianna717 N. Harwood, Suite 2400 - ,Dallas, TX 75201 [/Jj ~^','J

INSTR# 10538761 3

'NT TAX: f1 $486 00DEPUTY CLERK 3075#2, 1 5 Pages

F o l i o :Loan No: 2000822791Borrower: DILINA PIERRE

[Space Above This Line For Recording Data)

MORTGAGE

Data ID: 995

MIN: 100014720008227915DEFINITIONSWords used in multiple sections of this document are defined below and other words are defined inSections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this documentare also provided in Section 16.

^ '(A) "Security Instrument" means this document, which is dated September 9, 2005, together with allRiders to this document.(B ) "Borrower"is DILINA PIERRE , A SINGLE WOMAN . Borrower is the mortgagor underthis Security Instrument.(C ) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation thatis acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgageeunder this Security Instrument. MERS is organized and existing under the laws of Delaware, and hasan address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.(D ) "Lender" is AEGIS FUNDING CORPORATION. Lender is a Corporation organized and existingunder the laws of the State of DELAWARE. Lender's address is 3250 BRIARPARK DRIVE, SUITE400, HOUSTON, TX 77042-4204.(E) "Note" means the promissory note signed by Borrower and dated September 9, 2005. The Notestates that Borrower owes Lender T WO HUNDRE D FORTY-THREE THOUSAND an dNO/100 Dollars (U.S. $ 243,000,00) plus interest. Borrower has promised to pay this debt in regularPeriodic Payments arid to pay the debt in full no t later than October 1, 2035.(F ) "Property" means the property that is described below under the heading "Transfer of Rights inthe Property."(G ) "Loan" means the debt evidenced by the Note, plus interest, an y prepayment charges an d latecharges due under the Note, and all sums due under this Security Instrument, plus interest.


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US Bank vs. Delina Pierre

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