You are on page 1of 33

ASSET COMPLIANCE AUDIT

Prepared for: Borrower 123 Main Street Anytown, US 10000


2 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Contents
Owner Details ............. 6 Specific Property Details ... 7 Collateral Market Value - Sale Analysis ...... 10 Market Sales Comparable Review . 12 Title Transaction History .......... 20 Title Transaction Chain Review .......... 25 Title Transaction Document Summary ...........107 Title Transaction Security Review ..........109 Title Transaction Assignee (MERS) Review ......110 Title Transaction Servicing Review ........... 112 Demand Letter . ....... 113 Title Compliance Summation ............. 132 Asset Securitization Review..... 133 Asset Compliance (Securitization) Search ....... 135 Asset Securitization Analysis ............ .137

4 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Supplement I Pooling Servicing Agreement

Supplement II Prospectus

Asset Compliance Summation ...... 142 Glossary ......... 146

5 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Owner Details
Owner Details Primary Owner: BORROWER Mail Address: Site Address: APN: Housing Tract Number: 123 MAIN STREET, ANYTOWN US 10000 123 MAIN STREET, ANYTOWN US 10000 00-00000-000-0000 Lot Number: Page / Grid: Secondary Owner:

Legal Description:

District: 06 Subdivision: VENETIAN SEC Sec / Twnship / Range: SEC 00 TWN 00S RNG 00E Legal Brief Description: 0 City / Muni / Twp: NORTH MIAMI

LENDER NAME: LOAN NUMBER: LENDER ADDRESS: MIN NUMBER:

INDYMAC BANK, F.S.B. 00000000 6900 BEATRICE DRIVE, KALAMAZOO MI 49009 000000000000000000

SERVICER NAME: LOAN NUMBER: SERVICER ADDRESS:

INDYMAC FEDERAL BANK, F.S.B. (ONEWEST BANK) 00000000 6900 BEATRICE DRIVE, KALAMAZOO MI 49009

6 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Specific Property Description


Property Details Bedrooms: Bathrooms: Total Rooms: Zoning: 0900:SGL FAM,19012100 SQ 3 2 Year Built: Garage: Fireplace: Pool: P 1955 Square Feet: Lot Size: 1,782 8,695 SF

Number of Units: 1 Use Code: Single Family Residential

Sale Information Transfer Date: Transfer Value: Cost/Sq Feet: 12/09/2011 $241,000.00 $135.00 Seller: Document#: BORROWER 011R00000 BK-PAG: 000000

Assessment and Taxes Assessed Value: $333,459.00 Percent Improvement: Tax Amount: Tax Status: Market Land Value: 0.00% Homeowner Exemption: Tax Rate Area: Tax Account ID: $333,459.00 G193

Land Value:

$0.00

$9,004.14 Current

Improvement Value: $0.00 Market Improvement $193,388.00 Value:

$140,071.00 Market Value:

Population Demographics Area ZIP 33181-2305 National 2000 17,931 2009 18,098 2014 18,087 Growth Rate Growth Centile 0.1 % 1.0 % 12.0 %

281,421,906 309,731,508 324,062,684

7 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Collateral Market Value


The following analysis was based on the 20 sales closest to 123 MAIN STREET,ANYTOWN US 10000 APN: 000000000-00-0000 - ANY COUNTY

Total Area Sales Median Lot Size Median Living Area Price Range - 2 Yrs Median Value

20 9,375 SF 2,152 SF $150,000 to $1,275,000

Median # of Bedrooms Median # of Baths Median Year Built Age Range Median Age

3 2 1955 52 to 63 years 57 years

$505,000

Summary Comparables 123 MAIN STREET, ANYTOWN US 10000

Year Built:

1955

Lot:

8,695 SF

Bld/Area:

1782

Pool:

P RM/BR/Bth:

/3/2

10 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Market Sales Comparables Review


Comparable Sales Data 123 MAIN STREET, ANYTOWN, US 10000 Bld/Are RM/BR/Bt a h 0/3/2 Poo Proxim l . .08

Address 1 1995 IXORA RD

Date

Price

$/SF

YB

Lot

05/17/201 $580,000.0 $284.0 2042 2 0 0 APN: Document #: Use Code: Seller Name:

195 855 6 0

Site Address: Doc Type: Price Code: Buyer Name:

NORTH MIAMI, FL 33181-2310 Warranty Deed R LEONARDI, PETER M LEONARDI, LINDA A

06-2228-012-0570 2012R0352812 Single Family Residential MESSORE, MARISA

Loan Amount: $0.00 Legal:

Lender Name:

Lot Number: 2 Map Ref: MB53 PG91 Subdivision Name: VENETIAN SECTION KEYSTONE POINT

Address 2 13180 CORONADO TER

Date

Price

$/SF

Bld/Are RM/BR/Bt Poo Proxi YB Lot a h l m. 0/4/3 195 937 Yes .21 7 5

04/24/201 $515,000.0 $195.0 2636 2 0 0 APN: Document #: Use Code: Seller Name:

Site Address: Doc Type: Price Code: Buyer Name:

NORTH MIAMI, FL 33181-2158 Warranty Deed R MELENDEZ, JESUS MELENDEZ, MICHELLE C

06-2228-018-0460 2012R0289273 Single Family Residential POZO, MYRIAM

Loan Amount: $412,000.00 Legal:

Lender Name: BRANCH BANKING AND TRUST CO

Lot Number: 18 Map Ref: MB60 PG81 Subdivision Name: SECOND ADDITION TO CORONADO HARBOR

Address 3 1870 ALAMANDA DR

Date

Price

$/SF

Bld/Are RM/BR/Bt YB a h 0/2/1

Lot

Poo Proxim l . .33

04/20/201 $318,500.0 $198.0 1607 2 0 0 APN: Document #: Use Code:

195 937 0 5

Site Address: Doc Type: Price Code:

NORTH MIAMI, FL 33181-2626 Warranty Deed R

06-2228-007-0650 2012R0281915 Single Family Residential

12 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction History


Foreclosure Record - 12/09/2011 Recording Date: 12/09/2011 Document#: 000-00000 BK-PG: -BKPG: 0000-2 Trustee's Deed Full Amount on Deed

Price: First TD: Lender Name: Buyer Name: Seller Name: Legal Description:

$241,000.00 $0.00

Document Type: Type of Sale:

ONEWEST BANK FSB, BORROWER

Buyer Vesting:

N/A

Lot Number: 00 Block: 00 Subdivision: POINT Map Ref: 00

Mortgage Record - 05/22/2007 Recording Date: 05/22/2007 Document#: 000000000000 BK-PG: -BKPG: 0000-8 Balloon ADJ

Loan Amount: TD Due Date: Lender Name: Lender Type: Vesting: Legal Description:

$650,000.00 05/01/2037

Loan Type: Type of Financing:

EPIX FUNDING GROUP INC *N N/A Lot Number: 12 Block: 15 Subdivision: POINT 6 Month Libor Six months or Semiannually 9.7 First Change Date: 20090501 Borrowers Name: BORROWER

Adjustable Rate Index: Rate Change Frequency:

Interest Rate Not Greater:

Interest Rate Not Less:

6.7

20 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction Chain Review


A property transaction history or Chain of Title is the documented recording of each Sale, Transfer, and/or Assignment of a Mortgage, Monetary Instrument, Deed of Trust or any other instrument pertaining to a real property. This chain is evidenced by the executed documents used to secure the debt and put in property records, in the County and State, in which the property is located beginning with the inception of the loan or debt.

The following title chain review is based on publicly available transaction histories and verified using the recorded documents on file at your County Recorders Office.

Deed Record - 10/06/2005 Recording Date: 10/06/2005 Document#: 00000000000 BK-PG: -BKPG: 0000-1 Intrafamily Transfer or Dissolution

Price:

$0.00

Document Type:

First TD: Lender Name: Buyer Name: Seller Name: Legal Description:

$0.00

Type of Sale:

BUYER SELLER

Buyer Vesting:

Life Estate

Lot Number: 12 Block: 15 Subdivision: POINT Map Ref: MB53 PG91

VERIFIED RECORD(S) LOCATED

24 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

25 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

THIS PAGE INTENTIONALLY LEFT BLANK

26 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Deed Record - 11/01/2006 Recording Date: Price: First TD: 11/01/2006 $0.00 $0.00 Document#: Document Type: Type of Sale: BK-PG: 00009 N/A Per Assessor Transaction History

Lender Name: Buyer Name: Seller Name: Legal Description:

N/A BORROWER N/A District: 06 Subdivision: SEC Sec / Twnship / Range: 42E Legal Brief Description: 2006 5 City / Muni / Twp: NORTH MIAMI Buyer Vesting: N/A

NONVERIFIED NO RECORD(S) LOCATED

27 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

THIS PAGE INTENTIONALLY LEFT BLANK

28 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Assignment Record 04/03/2007 Recording Date: 10/31/2007 Document#: 00000 BK-PG: -BKPG: 0000-03 Unknown

Loan Amount: TD Due Date: Assignee Name: Assignor Name: Vesting: Legal Description:

$650,000.00 08/01/2037

Loan Type: Type of Financing:

Option One Mortgage Corporation EPIX Funding Group N/A Lot Number: 12 Block: 15 Subdivision: POINT Borrowers Name: BORROWER

VERIFIED RECORD(S) LOCATED

29 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

30 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

THIS PAGE INTENTIONALLY LEFT BLANK

31 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction Document Summary


Based on information contained in the file records it would appear that the loan purpose was to securitize the resulting debt obtained in this transaction without the borrowers knowledge of the apparent risk involved. The loan was originated and funded by AnyMac Bank and immediately registered to the Mortgage Electronic Registration Systems (MERS) with the County Recorder through a Deed of Trust. It is apparent, however, that AnyMac Bank was nothing more than mortgage brokers masquerading as the lenders in a table funded loan. According to the documents on file with the Miami-Dade County Recorder there was a break in the Chain of Title.

On or about 09/08/2007 AnyMac Bank originated the loan and immediately registered to Mortgage Electronic Registration Systems, Inc. (MERS) On or about 02/28/2008 AnyMac Bank files a Lis Pendens for Foreclosure On or about 08/07/2008 AnyMac Bank cancels the Lis Pendens for Foreclosure On or about 08/07/2008 MERS records an Assignment of Mortgage to AnyMac Federal Bank On or about 06/18/2010 AnyMac Federal Bank records an Assignment of Mortgage to OnlyWest Bank, F.S.B. On or about 06/30/2011 A Final Judgement of Foreclosure is recorded naming the Beneficiary as AnyMac Federal Bank On or about 12/09/2011 OnlyWest Bank records a REO Deed Assignment No Additional Records on File

Prior to the Lis Pendens (default) filing there are no recorded documents to evidence an Assignment or Substitution of the Deed. MERS simply published data to reflect OnlyWest Bank, F.S.B. as the Servicer of this loan. After the loan defaulted MERS assigned the Deed to AnyMac Federal Bank, however after the cancellation of the breach or Notice of Default have been recorded. MERS systems data currently only reflects OnlyWest Bank, F.S.B., as Servicer of this loan.

32 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction Security Review


NO RECORDS LOCATED. According to the rules and procedures of the Uniform Commercial Code this loan was not perfected with the understanding that the monies used to fund the loan came from a pool of investors. These investor funds were securitized and debt was repeatedly sold. Possession of the note is a key argument. The foreclosing entity must prove possession and ownership of the original note in order to foreclose. This comes to the forefront because it has been reported that upwards of 40% of the notes are missing and cannot be found. Equitable owners of this loan were undisclosed investor(s) who purchased mortgage-backed securities which promised and conveyed percentage ownership of the note. Hence the actual balance of loan is unknown. Default most likely does not exist by virtue of advances and insurance payments.

34 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction Assignee (MERS) Review

Is MERS the Beneficial Owner of the Note? 1. MERS (Mortgage Electronic Registration Service) is named as the beneficiary on the Deed of Trust and holds only legal title to the interest granted by Borrower in this Security Instrumenthas the right: to exercise any or all of those interest, including, but not limited to, releasing and canceling this security instrument. 2. MERS has no actual possession of the Note, though they claim to hold the Note. 3. MERS receives no payments or income from the monthly payments. This money goes to the ultimate Investor. The Investor(s) has the beneficial interest in the Note by reason of the Investor(s) receiving the payments. 4. MERS agreement says that MERS shall at all times comply with the instructions of the holder of mortgage loan promissory notes. Additionally, it says in the absence of contrary instructions from the beneficial owner, MERS may rely on instructions from the servicer shown on the MERS system in accordance with these rules and the procedures with respect to transfers of beneficial ownership.

It appears that the Mortgage Electronic Registration System (MERS) has been named the beneficiary for this loan, as indicated by MIN# 00000000000. MERS was created to eliminate the need for the executing and recording of assignment of mortgages, with the idea that MERS would be the mortgagee of record. This would allow MERS to foreclose on the property, and at the same time, assist the lenders in avoiding the recording of the Assignments of Beneficiary on loans sold. This saved the lenders money in manpower and the costs of recording these notes. 35 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Transaction Servicing Review


LENDER NAME: LOAN NUMBER: LENDER ADDRESS: MIN NUMBER: INDYMAC BANK, F.S.B. 000000000 6900 BEATRICE DRIVE, KALAMAZOO MI 49009 000000000000

SERVICER NAME: LOAN NUMBER: SERVICER ADDRESS:

INDYMAC FEDERAL BANK, F.S.B. (ONEWEST BANK) 000000000 6900 BEATRICE DRIVE, KALAMAZOO MI 49009

It is believed that MERS became the beneficiary for so many notes to address the Assignee Liability problem. By keeping MERS as the beneficiary, and avoiding the recording of assignments, it becomes more difficult to determine assignee liability and holder in due course issues. This could offer cover for all the parties participating in the Securitization process, since no Assignments were recorded, and proof of ownership of the note could not be easily determined. The only way to determine ownership of the Notes would be to track the monthly payments made to the investors, explaining which party received the monthly payment. This would be time consuming and likely only Discovery would prove the process necessary to get this information.

37 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Demand Letters - Qualified Written Request


Included in your Asset Compliance Audit is a Qualified Written Request. This is a formal request for documentation and answers to questions that have been raised as part of this audit process. Please follow these instructions for mailing your QWR.

1. Carefully Review the document for your understanding and Sign. 2. Make 3 to 4 copies (you will need to keep a copy for your records). 3. Mail additional copies to the address below- Mail registered certified mail and keep all receipts.

Original Signature

Indymac Mortgage Services c/o OneWest Bank, F.S.B. 6900 Beatrice Drive Kalamazoo, MI 49009 Attn: Account Manager Federal Trade Commission 600 Pennsylvania Avenue NW Washington, DC 20580 Office of RESPA and Interstate Land Sales Office of Housing, Room 9146 Department of Housing and Urban Development 451 Seventh Street, SW Washington, DC 20410 Government National Mortgage Association 451 Seventh Street, SW Washington DC 20410

Copied QWR -

According to RESPA 12 USC Section 2605(e) your lender has 20 days to acknowledge receipt of your Qualified Written Request and 60 Days to provide you with answers to your question.

38 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Borrower 123 Main Street, Anytown US 10000

Indymac Mortgage Services c/o OneWest Bank, F.S.B. 6900 Beatrice Drive Kalamazoo, MI 49009 Attn: Account Manager

June 15, 2013

RESPA QUALIFIED WRITTEN REQUEST, COMPLAINT, DISPUTE OF DEBT & VALIDATION OF DEBT LETTER, TILA REQUEST This letter is a qualified written request in compliance with and under the Real Estate Settlement Procedures Act, 12 U.S.C. Section 2605 (e) and Regulation X 24 C.F.R. 3500, and The Gramm Leach Bliley Act.

REF: Alleged Account # 0000000 123 Main Street, Anytown US 10000 Dear Madam/Sir, Please be advised of your, Indymac Mortgage Services a division of OneWest Bank F.S.B, formerly known as IndyMac Bank F.S.B and/or IndyMac Federal Bank F.S.B (herein referred to as INDYMAC), legal obligation to answer this Qualified Written Request and to obtain all records and documents pertaining to the above-mentioned Loan No. This request is made pursuant to the Real Estate Settlement and Procedures Act (RESPA). I have reason to believe that certain disclosures and documentation have been withheld in violation of the Truth in 39 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Lending Act (TILA) and that various Real Settlement Procedures Act (RESPA) loan servicing errors may have occurred. I am requesting authenticated copies of the following records relating to the account number stated herein: 1. The original Promissory Note. 2. The Security Instrument. 3. Any modifications, endorsements, extensions, addenda and all information related to items 1 and 2 above. 4. The complete pay history from the date of origin, including any portion of the history that originated from previous assignors.

In order to validate this debt, I need copies of pertinent documents to be provided to me immediately. I also demand answers, certified, in writing, to various servicing questions. For each record kept on computers or in any other electronic file or format, provide a paper copy of all information in each field or record in each computer system, program or database used by you that contains any information on this account number or my name.

As such, send to me, at the aforementioned address, copies of the documents requested below within the 60 days or sooner if possible. Provide copies of:

1. Any certificated or un-certificated security, front and back, used for the funding of account # 000000000. 2. Any and all Pool Agreement(s) including account # 000000000 between INDYMAC and any government sponsored entity, hereinafter (GSE). 3. Any and all Deposit Agreement(s) regarding account #000000000or the Pool Agreement including account # 000000000 between INDYMAC and any GSE. 4. Any and all Servicing Agreement(s) between INDYMAC and any GSE. 5. Any and all Custodial Agreement(s) between INDYMAC and any GSE.

6. All data, information, notations, text, figures and information contained in your mortgage servicing and accounting computer systems including, but not limited to Alltel or Fidelity CPI system, or any other similar mortgage servicing software used by you, any servicers, or sub-servicers of this mortgage account from the inception of this account to the aforementioned date.

40 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

instruments in satisfaction of the obligation(s) of this RESPA REQUEST/Agreement or any agreement arising from this agreement. Pre-emption of or to any Bankruptcy proceeding shall not discharge any obligation(s) of this agreement. The consent and agreement with this Power of Attorney by INDYMAC waives any and all claims of Borrower, and/or defenses and remains in effect until satisfaction of all obligation(s) by INDYMAC has been satisfied.

You may respond within twenty (20) days and produce these records within sixty (60) days following your response. If you fail to produce these records you will be in default, please govern yourself accordingly.

Sincerely,

________________________________________ Borrower

CC:

Federal Trade Commission 600 Pennsylvania Avenue NW Washington, DC 20580

Office of RESPA and interstate Land Sales Office of Housing, Room 9146 Department of Housing and Urban Development 55 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Title Compliance Summation


Please do not make any assumptions as to whether your loan was securitized. It is possible that your loan is may only appear to be securitized even if there is a Trustee under any alleged securitization structure. The party making a claim on an Assignment maybe unaware of the absence of an Acceptance or even that there is no authority for the Trustee to accept the Assignment.

The fact that there was an intention to securitize this loan does not mean that in fact the documentation support it. It does support the theory that the actual money that was used to fund the alleged mortgage transaction was funneled through a long series of intermediaries acting in their roles as securitization parties. This is evident in the missing properly documented Assignments and/or Transfers. According to documents on file at the Miami-Dade County Recorder there is no recorded evidence of the Note; however some states do not require the Note to be attached to the Mortgage or Deed when recorded. Beyond production of the Note it is plausible that it was destroyed at the time of or during securitization. There is also no evidence is on record that the Note was anything other than a foreign security requiring recording pursuant to the mandates of the Security and Exchange Act of 1934. The Note specifies who is obligated under the instrument and any party who acts as a Guaranty or Surety are obligated by the same as the borrower.

The presumption, therefore, is this is a securitized table funded loan with defects in the title and breaks in the chain of title. There is an absence of evidence on record of Endorsement, Assignment, and/or delivery. The Holder in Due Course is most likely an undisclosed investor(s) who purchased mortgage-backed securities which promised and conveyed percentage ownership of note and the true balance of loan is unknown. Default most likely does not exist by virtue of insurance payments. Scheduled payments are paid in advance, with no payments due after allocation of third party payments.

Remember that the Chain of Title documents represent a claim of ownership and are not evidence that such ownership actually exists. Thus the lender of record is subject to a challenge in a Quiet Title action simply on the basis of lack of consideration or payment in full, since the money that funded your loan came from third parties and would therefore be classified as a table-funded loan under the Federal Truth in Lending Act. Since the property is already subject to a foreclosure process or claim, there is a high probability that a claim for Slander of Title would be appropriate. 57 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Asset Securitization Review


To fully explain the significance of how, the possession of the Note, and the ownership of the Note play an important role in both the revealing and unraveling of the securitization process it must be understood that in most cases, it is unknown which tranche will contain any particular Note. Nor will it be known how many investors there are, and which investors bought the individual tranches. Securitization is the name for the process by which the final investor for the loan ended up with the loan. It entailed the following: 1. Mortgage broker had client who needed a loan and delivered the loan package to the lender. 2. The lender approved the loan and funded it. This was usually through warehouse lines of credit. The lender hardly ever used their own money instead using the warehouse line that had been advanced to the lender by major Wall Street firms like J.P. Morgan. 3. The lender sold the loan to the Wall Street lender, earning from 2.5 - 8 points per loan. This entity is known also as the Mortgage Aggregator.

Wall Street, after the 2000 Dot.com crash, had large amounts of money sitting on the sidelines, looking for new investment opportunities. Returns on Investments (ROI) were dismal, and investors were looking for new opportunities. Wall Street, recognizing this, created Special Investment Vehicles that allowed them to offer a new investment tool that could generate large commissions. 1. Wall Street created Pooling Agreements, where they defined in those agreements, the loans that they would accept for each investment vehicle. They executed agreements with the lenders and then immediately issued warehouse lines of credit to the lenders. 2. Lenders then let brokers know the loan parameters to meet the Pooling Agreement guidelines and the brokers went out and found the borrowers. 3. Wall Street took all the loans, packaged them up and sold them as bonds and other security instruments to other investors, i.e. Joes Pension, and paid off original investors or reissued new line of credit, and earned commissions on both ends. 4. The process was repeated time and again. 5. What we do know now is that in most cases, the reality is that the reported lender on the Deed of Trust was NOT the actual lender. The actual lender who lent the money was the Wall 58 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Asset Compliance (Securitization) Search


This is an Asset Compliance (Securitization) search for your specified loan to find the most probable securitized trust / loan pool or investor who claims the ownership of your loan. The securitization review involves a series of searches using different Sources of Information.

We have searched the public records for any traces of loan ownership via means of the Loan Specific Title Search, Agency ownership claims (Freddie Mac, Fannie Mae, Ginnie Mae), MERS report for loans under MERS as well as publicly traded loan pools.

The search of the above mentioned sources is summarized in the table below:

SEARCHTYPE

INFORMATION SOURCE

TRUST/OWNERS HIPCLAIMED/ REVEALED(Yes, ifChecked)

TRUSTNAMEORLOANOWNERSHIP

TITLESEARCH MERSREPORT

PUBLICRECORDS

OneWest(IndyMacMortgageServicing)

NOTFREDDIE
NOTFANNIE NOTGINNIE

MIN# 00000000000

FREDDIEMAC FANNIEMAE GINNIEMAE PUBLICDEALS SEARCH*** PRIVATEDEALS SEARCH


FREDDIEMAC FANNIEMAE GINNIEMAE

SEC/BLOOMBERG ANYAVAILABLE SOURCE

IndyMacResidentialAssetSecuritiesTrust (RAST)2007A9

60 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Asset Securitization Analysis


Exhibit A:
Public Data Relationship to Pool Loan Data

PUBLICRECORDSLOANDATA

SECURITIZEDPOOLLOANDATA
(MAINLOANCHARACTERISTICS)

CHARACTERISTICS

PUBLICLYRECORDEDDATA

CHARACTERISTIC

POOLLOANDATA

CHARACTERISTIC

MATCH(M)

GEOLOCATION(ZIPCODE) LOANORIGINATIONDATE

10000 07/09/2007

GEOLOCATION(ZIPCODE) LOANORIGINATIONDATE* ORIGINALSECURITIZED BALANCE** LOANMATURITYDATE LOANID TRUSTNAMEMATCHESLOAN ORIGINATOR SERVICERNAME

10000 07/09/2007 861,250 08/01/2037 0000000

ORIGINALPRINCIPAL LOANMATURITYDATE LOANID LOANORIGINATOR SERVICERNAME

861,250 08/01/2037 0000000

INDYMAC INDYMAC

INDYMAC INDYMAC

62 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

PUBLICRECORDSLOANDATA
PUBLICLYRECORDEDDATA

SECURITIZEDPOOLDATA
(SECONDARYCHARACTERISTICS)

CHARACTERISTICS

CHARACTERISTIC POOLLOANDATA

CHARACTERISTIC MATCH(M)

MERSMIN# ORIGINALINTERESTRATE ORIGINALTERM LOANTYPE

ORIGINALAPPRAISEDVALUE LIENPOSITION FIRSTPAYMENTDATE ENDINGPOOLBALANCE CITY DELINQUENCYSTATUS

MINNUMBERMATCHLOAN ID? ORIGINALINTERESTRATE ORIGINALTERM LOANTYPE ORIGINALAPPRAISED VALUE LIENPOSITION FIRSTPAYMENTDATE ENDINGPOOLBALANCE CITY DELINQUENCYSTATUS

Results of Securitized Loan Search Matching

Number of Key Loan Characteristics Matched

64 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Supplement I

Pooling Service Agreement


See separate attachment (123MainStreet-Borrower-PSA) sent with this document

65 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Asset Compliance Summation


In summary, this loan has been audited and prepared in accordance with information provided and guidance made publicly available by Local, State, and Federal Regulatory and Financial Agencies, including but not limited to Government Sponsored Enterprises (GSEs) and the Securities and Exchange Commission (SEC). The results are merely opinion from our decision engine, interpretations, training, and knowledge skill sets. Other violations may have occurred, and these opinions are not final.

In 1933, the Glass-Steagall Act was enacted to regulate the FDIC and banking. In short, it was enacted to prevent banks from trading their assets on Wall Street. In 1999, the Glass-Steagall Act was repealed, and another bill was passed the Gramm-Leach-Bliley Act. This bill effectively allowed banks to securitize and package their loans onto Wall Street. This meant that Institutional investors such as Hedge Funds, Retirement Funds, and the like would now have a "'safe" place to park their money later known as Mortgage Backed Securities (MBS). Because of the Gramm-Leach-Bliley Act, many financial institutions soon realized they could make even more money beyond the money they made on traditional mortgage loans by selling these loans on Wall Street, which was done with respect to your loan. Once your loan was closed it was subsequently placed in a Pooling and Service Agreement. This Agreement was then registered on the SEC as a REMIC (Real Estate Mortgage Investment Conduit) Trust, also referred to as a Special Purpose Vehicle for tax exemption purposes. Once the loan was placed in the REMIC Trust, IndyMac Bank, F.S.B. (herein referred to as INDYMAC) ceased being the real and Beneficial Owner of the Note. The Trustee of the REMIC Trust does not have the power to manage the assets of the Trust. Once this REMIC was formed, the trust was converted into a security that was traded on Wall Street. Thus, the shareholders of the REMIC Trust have become the real and beneficial owners of the "Loan". As a result of securitization the loan was converted into a stock and it is now and will forever be a stock. After a loan has been securitized, it forever loses its Security (i.e., the Mortgage or Deed of Trust). Which raises the question, If the loan has been sold, how could INDYMAC, OneWest Bank, and/or the Mortgage Electronic Registration System, Inc. (herein referred to as MERS) claim any longer that they are the real parties in interest?

67 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com

Glossary
Abstract of Judgment -- A summary of the essential provisions of a court judgment, which when recorded in the county recorder's office, creates a lien upon the property of the defendant in that county, both presently owned or after acquired. Abutting Owner -- One whose land is contiguous to (abuts) a public right of way. Acceleration Clause -- Clause used in an installment note and mortgage (or deed of trust), which gives the lender the right to demand payment in full upon the happening of a certain event, such as failure to pay an installment by a certain date, change of ownership without the lender's consent, destruction of the property, or other event which endangers the security of the loan. Access Right -- A right to ingress and egress to and from one's property. May be express or implied. Accommodation Recording -- The recording of documents with the county recorder by a title insurance company, without liability (no insurance) on the part of the company, but merely as a convenience to a customer. Action to Quiet Title -- A court action to establish ownership to real property. Although technically not an action to remove a cloud on title, the two actions are usually referred to as "Quiet Title" actions. Adjudication -- A judgment or decision by a court. Administrator -- A person given authority by a proper court to manage and distribute the estate of a deceased person when there is no will. Adverse Possession -- A method of acquiring title by possession under certain conditions. Generally, possession must be actual, under claim of right, open, continuous, notorious, exclusive and hostile (knowingly against the rights of the owner). Exact time (years) of possession and specific requirements (such as payment of property taxes) vary with the statutes of each state. Affidavit -- A written statement or declaration, sworn to before an officer who has authority to administer an oath. Affirmative Easement -- An easement described from the benefited estate (dominant tenement). Also called a parcel 2 easement. The same easement described from the burdened estate (servient tenement) would be a negative easement. After Acquired Title -- Legal doctrine by which property automatically vests in a grantee when the grantor acquires title to the property after the deed has been executed and delivered. Agency -- One who is authorized to act for or represent another (principal), usually in business matters. Authority may be expressed or implied. Alias -- Latin for (otherwise) commonly meaning that a person is known by more than one name. In some states, indicated by the letters AKA (Also Known Aliases).

71 ACAR20052013MortgageLoanCompliance|www.mlcompliance.com