Base Offering Circular Multifamily
85
Structural Excess....................... As of any Distribution Date, (i) in the case of a Trust REMIC
that issues a Single REMIC Series, the excess of (a) any
amounts that would have been received on the Trust Assets
included in such Trust REMIC for the current period based on
the Structural Excess Assumptions over (b) amounts then due on
the related Regular Securities, the allocable portion of the
Trustee Fee then due, and the allocable portion of any other
unpaid related administrative expenses of the Trust and (ii) in
the case of one or more Pooling REMICs that relate to a Double
REMIC Series, the excess of (a) any amounts that would have
been received on the portion of Trust Assets held by each such
Pooling REMIC for the current period based on the Structural
Excess Assumptions over (b) amounts then due on the related
Pooling REMIC Regular Interests, and the allocable portion of
the Trustee Fee then due, and the allocable portion of any other
unpaid related administrative expenses of the Trust.
Structural Excess
Assumptions..............................
The assumptions in respect of a Distribution Date that (a) no
defaults or late payments occur on the Trust Assets and (b) the
amount of principal received on the Trust Assets in the Accrual
Period related to a Distribution Date is equal to the aggregate
amount of principal to be distributed to Holders on such
Distribution Date.
Structuring Range...................... With respect to a PAC Class or Component or group of PAC
Classes or Components or a Scheduled Class or Component or
group of Scheduled Classes or Components, the range of
constant prepayment rates that was used to calculate its
Scheduled Principal Balances.
Structuring Rate ........................ With respect to a TAC Class or Component or group of TAC
Classes or Components, the constant prepayment rate that was
used to calculate its Scheduled Principal Balances.
Supplemental Statement............ A statement posted on e-Access after a transaction closes
showing any characteristics of the Securities that differ
significantly from those shown in the Offering Circular.
Support Class ............................ A Class that receives distributions of principal on any
Distribution Date only if scheduled payments have been made
on specified PAC, TAC and/or Scheduled Classes.
TAC or Targeted
Amortization Class....................
A Class that is designed to receive distributions of principal
using a predetermined schedule derived by assuming a single
constant prepayment rate for the underlying Mortgage Loans.