EX-33.7 11 d161070dex337.htm EXHIBIT 33.7 Exhibit 33.7

Exhibit 33.7

MANAGEMENT’S ASSERTION OF COMPLIANCE

Management of the Agency and Trust division of Citibank, N.A. (or “Company”) is responsible for assessing compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB promulgated by the Securities and Exchange Commission.

Management has determined that the servicing criteria set forth in Item 1122(d) of Regulation AB are applicable in regard to the servicing platform as of and for the period as follows:

Platform: Publicly-issued (i.e., transaction-level reporting initially required under the Securities Exchange Act of 1934, as amended) and certain privately-issued (i.e., for which transaction-level reporting is required pursuant to contractual obligation) residential mortgage-backed securities issued on or after January 1, 2006, as listed in Appendix A, for which the Company provides the following servicing functions:

 

  •   paying agent, securities administration and trustee; or

 

  •   securities administration and paying agent; or

 

  •   paying agent and trustee; or

 

  •   paying agent

The Platform also includes certain transactions listed in Appendix B for which the Company is not a party to the transaction agreements, but for which securities administration servicing functions have been outsourced to the Company by a party to the transaction agreements.

Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d), to the extent required by Item 1122(d) servicing criteria in regards to the activities performed by the Company with respect to the Platform as to any transaction, except for the following servicing criteria: 1122(d)(1)(iii)-1122(d)(1)(iv), 1122(d)(2)(iii), 1122(d)(4)(i)-1122(d)(4)(ii) and 1122(d)(4)(iv)-1122(d)(4)(xiv), which management has determined are not applicable to the activities the Company performs with respect to the Platform (the “Applicable Servicing Criteria”). Servicing criterion 1122(d)(1)(v) is applicable to the activities the Company performs with respect to the Platform for all transactions in the Platform, including those issued on or before November 23, 2015 for which compliance was previously assessed under other servicing criteria in accordance with the SEC Division of Corporation Finance’s Manual of Publicly Available Interpretations on Regulation AB and Related Rules, Interpretation 11.03, as applicable, as of and for the twelve months ended December 31, 2015; provided further that, Management has determined that servicing criterion 1122(d)(1)(v) is applicable only to the activities the Company performs related to the mathematically accurate aggregation of information received from servicers and the accurate conveyance of such information within reports to investors. Servicing criterion 1122(d)(4)(iii) is applicable to the activities the Company performs with respect to the Platform only as it relates to the Company’s obligation to report additions, removals or substitutions on reports to investors in accordance with the transaction agreements. With respect to servicing criterion 1122(d)(1)(ii), there were no activities performed during the twelve months ended December 31, 2015 with respect to the Platform, because there were no occurrences of events that would require the Company to perform such activities.

Period: Twelve months ended December 31, 2015 (the “Period”).

With respect to the Platform as of and for the Period, the Company’s management provides the following assertion of compliance with respect to the Applicable Servicing Criteria:

 

  •   The Company’s management is responsible for assessing the Company’s compliance with the Applicable Servicing Criteria.

 

  •   The Company’s management has assessed compliance with the Applicable Servicing Criteria. In making this assessment, management used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

  •   Based on such assessment, the Company has complied, in all material respects, with the Applicable Servicing Criteria.

KPMG LLP, an independent registered public accounting firm, has issued an attestation report with respect to Management’s assertion of compliance with the Applicable Servicing Criteria as of and for the Period.

 

CITIBANK, N.A.
By:  

/s/ Karen Montbach

Its:  

Managing Director

Dated: February 26, 2016

Appendix A

Mortgage-backed Transactions and Securities Constituting the Platform

 

Deal Name    Deal Name    Deal Name

AHMA 2006-3

    CMLTI 2006-NC2    CMLTI 2006-AR9

AHMA 2006-4

    CMLTI 2006-WF1    CMLTI 2007-2

BAFC 2007-6

    CMLTI 2006-WF2    CMLTI 2007-6

CMALT 2006-A1

    CMLTI 2006-WFHE1    CMLTI 2007-AR1

CMALT 2006-A2

    CMLTI 2006-WFHE3    CMLTI 2007-AR4

CMALT 2006-A3

    CMLTI 2006-WFHE4    CMLTI 2007-AR5

CMALT 2006-A4

    CMLTI 2006-WMC1    CMLTI 2007-AR7

CMALT 2006-A5

    CMLTI 2007-10    CMLTI 2007-AR8

CMALT 2006-A6

    CMLTI 2007-AHL1    CMS 2007-1

CMALT 2006-A7

    CMLTI 2007-AHL2    CMS 2007-2

CMALT 2007-A1

    CMLTI 2007-AMC1    CMS 2007-3

CMALT 2007-A2

    CMLTI 2007-AMC3    CMSI 2006-1

CMALT 2007-A3

    CMLTI 2007-WFHE1    CMSI 2006-2

CMALT 2007-A4

    CMLTI 2007-WFHE2    CMSI 2006-3

CMALT 2007-A5

    CMLTI 2007-WFHE3    CMSI 2006-4

CMALT 2007-A6

    CMLTI 2007-WFHE4    CMSI 2006-5

CMALT 2007-A7

    CMLTI 2008-2    CMSI 2006-6

CMALT 2007-A8

    CMLTI HELOC 2006-NCB1    CMSI 2006-7

CMLTI 2006-WFHE2

    CMLTI 2006-4    CMSI 2007-4

CMLTI 2007-AHL3

    CMLTI 2006-AR1    CMSI 2007-5

CMLTI 2006-AMC1

    CMLTI 2006-AR2    CMSI 2007-6

CMLTI 2006-HE1

    CMLTI 2006-AR3    CMSI 2007-7

CMLTI 2006-HE2

    CMLTI 2006-AR5    CMSI 2007-8

CMLTI 2006-HE3

    CMLTI 2006-AR6    CMSI 2007-9

CMLTI 2006-NC1

    CMLTI 2006-AR7    CMSI 2008-1

Deal Name    Deal Name    Deal Name
CMSI 2008-2    PHH Mtge 2007-4 RMBS    SEMT 2012-1
CRMSI 2006-1    PHH Mtge 2007-5 RMBS    SEMT 2012-2
CRMSI 2006-2    PHH Mtge 2007-6 RMBS    SEMT 2012-3
CRMSI 2006-3    PMT 2013-J1    SEMT 2012-4
CRMSI 2007-1    SASCO BNC 07-3    SEMT 2012-5
CRMSI 2007-2    SASCO Lehman XS 2006-13    SEMT 2012-6
CSMC Trust 2012-9    SASCO Lehman XS 2006-17    SEMT 2013-1
HALO 2007-1    SASCO Lehman XS 2006-5    SEMT 2013-2
HALO 2006-2    SASCO Lehman XS 2006-9    SEMT 2013-3
HALO 2007-AR1    SASCO Lehman XS 2006-7    SEMT 2013-4
HALO 2007-WF1    SASCO 2006-3H    SEMT 2013-6
HASCO 2006-HE2    SASCO 2006-S2    SEMT 2013-7
HASCO 2007-OPT1    SASCO 2006-S4    SEMT 2014-1
LMT 2006-1    SASCO 2006-S3    SEMT 2014-2
LMT 2006-3    SEMT 2013-8    SEMT 2014-3
LMT 2006-4    SEMT 2013-9    SEMT 2014-4
LXS 2006-1    SEMT 2013-10    SEMT 2015-1
LXS 2007-11    SEMT 2013-11    SEMT 2015-2
PHH Mtge 2006-1 RMBS    SEMT 2013-12    SEMT 2015-3
PHH Mtge 2006-2 RMBS    WAMU 2007-HE2    SEMT 2015-4
PHH Mtge 2006-3 RMBS    WAMU 2007-HE3   
PHH Mtge 2006-4 RMBS    WAMU 2007-HE4   
PHH Mtge 2007-1 RMBS    SEMT 2010-H1   
PHH Mtge 2007-2 RMBS    SEMT 2011-1   
PHH Mtge 2007-3 RMBS    SEMT 2011-2   

Appendix B

Mortgage-backed Transactions and Securities Constituting the Platform1

 

Deal Name        

RALI06QH1

    

RALI06QO1

    

RALI06QO10

    

RALI06QO2

    

RALI06QO3

    

RALI06QO4

    

RALI06QO5

    

RALI06QO6

    

RALI06QO7

    

RALI06QO8

    

RALI06QO9

    

RALI07QH1

    

RALI07QH2

    

RALI07QH3

    

RALI07QH4

    

RALI07QH5

    

RALI07QH6

    

RALI07QH7

    

RALI07QH8

    

RALI07QH9

    

RALI07QO1

    

RALI07QO2

    

RALI07QO3

    

RALI07QO4

    

RALI07QO5

    

 

1 The transactions listed consist of certain transactions for which the Company is not a party to the transaction agreements, but for which securities administration servicing functions have been outsourced to the Company by a party to the transaction agreements with respect to servicing criteria 1122(d)(1)(v), 1122(d)(3)(i)(A), 1122(d)(3)(i)(B) and 1122(d)(3)(i)(D), as well as 1122(d)(3)(ii), but only as it relates to the allocation of amounts due to investors in accordance with the distribution priority and other terms set forth in the transaction agreements.