First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates Series 2005-FFH2

Transcription

1 Series 25-FFH2 Monthly Report for Distribution dated May 25, 217 Global Corporate Trust Services

2 Series 25-FFH2 DISTRIBUTION PACKAGE Distribution Date: May 25, 217 TABLE OF CONTENTS Statement to Certificateholders Page 1 Remittance Summary Group Page 5 Delinquency Report Page 6 REO Loan Detail Report Page 7 Prepayment & Liquidation Loan Detail Report Page 8 Substitution In/Out Loan Detail Report Page 9 DATES First Distribution Date: July 25, 25 Settlement Date: June 3, 25 Cutoff Date: June 1, 25 PARTIES TO THE TRANSACTION Servicer(s): Nationstar Mortgage LLC Certificate Insurer(s): Underwriter(s): Lehman Brothers Inc. ADMINISTRATOR Name: Title: Phone: Fax: Address: Erika Forshtay Account Administrator erika.forshtay@usbank.com 19 S. LaSalle St. 7th Fl., Chicago, IL 663 Website: The Trustee, at the direction of the Depositor, and based upon information provided in the Mortgage Loan Schedule or by the Servicer, is furnishing this information to each Certificateholder. The Depositor and/or the Servicer may discontinue the furnishing of this Supplemental Report (other than the Payment Date Statement), or may change its format, at any time and without notice to any Certificateholder. While the above parties have undertaken efforts to ensure the reasonable accuracy of this information, this information has not been audited and the parties make no representation as to the accuracy or completeness of the information.

3 Determination Date 18-May-17 Accrual Periods: Begin End Record Date - X, P, R 28-Apr-17 Libor Certificates 4/25/217 5/24/217 Record Date - others 24-May-17 Others 4/1/217 4/3/217 Payment Detail: Pass Applied Realized Applied Through Original Beginning Principal Interest Total Loss Amount Loss Ending Class Rate (1) Balance Balance Paid Paid Paid Recovered Amount (Net) Balance A % 247,944, N/A A % 16,941, N/A A % 35,313, N/A M % 23,542, M % 17,281, 1,217, ,4.6 15, , ,872,932.3 M % 1,769, 1,769, 16, , ,769, M % 9,517, 7,311, , , ,311, M % 8,265, M % 8,265, M % 7,13, M % 6,512, M % 2,755, B % 4,58, B % 5,259, X N/A 5,896, ,298, N/A 28,13, P N/A 1 1 N/A N/A 1 R N/A N/A N/A LT1-R N/A N/A N/A LT2-R N/A N/A N/A Totals: 493,884,1 28,298, ,4.6 44, , ,953, (1) Reflects the application of Net Funds Cap First Franklin Mortgage Loan Trust Mortgage Pass-Through Certificates First Franklin Mortgage Loan Trust Mortgage Series Pass-Through 25-FFH2 Certificates Series 25-FFH2 STATEMENT TO TO CERTIFICATEHOLDERS Distribution Date: May 25, 217 Distribution Date: May 25, 217 Amounts Per 1,: Beginning Principal Interest Applied Loss Ending Class Cusip Balance Paid Paid Amount Balance Index Value A1 3227NTR2/U3214AJ8 LIBOR.9956% A2 3227NTS/U3214AK5 Swap Libor.9956% A3 3227NTT8/U3214AL3 M1 3227NTU5/U3214AM1 M2 3227NTV3/U3214AN M3 3227NTW1/U3214AP4 1, , M4 3227NTX9/U3214AQ M5 3227NTY7/U3214AR M6 3227NTZ4/U3214AS8 M7 3227NUA7/U3214AT6 M8 3227NUB5/U3214AU3 M9 3227NUC3/U3214AV1 B1 3227NUD1/U3214AW B2 3227NUE9/U3214AX7 Page 1 of 9

4 First Franklin Mortgage Loan Trust Mortgage Series Pass-Through 25-FFH2 Certificates Series 25-FFH2 Distribution Date: May 25, 217 Distribution Date: May 25, 217 Interest Detail: Index + Interest Allocation of Deferred Total Outstanding Margin or Net PPIS & Basis Risk Basis Risk Basis Risk Amount Interest Carryforward Class Fix Rate PT Rate (1) Relief Act Paid Unpaid Paid Paid (2) Interest A % A % A % M % M % 15, ,33.77 M % 16, , M % 12, , M % M % M % M % M % B % B2 6.5% (1) Includes interest shortfalls from previous payments dates plus interest thereon (subject to Net Funds Cap) (2) Includes Deferred Amounts Paid below (Deferred Amounts = unpaid / unrecovered Applied Loss Amounts) Applied Loss Detail: Begin Applied Applied Realized Applied Realized Current Outstanding Realized Loss Loss Amount Loss Amount Applied Loss Applied Realized Class Amount Recovered Paid Amount Loss Amount A1 A2 A3 M1 M2 M3 M4 2,25, ,25,14.69 M5 8,265,.1 8,265,.1 M6 8,264, ,264, M7 7,13, 7,13, M8 6,511, ,511, M9 2,755, 2,755, B1 4,58, 4,58, B2 5,258, ,258, Page 2 of 9

5 First Franklin Mortgage Loan Trust Mortgage Series Pass-Through 25-FFH2 Certificates Series 25-FFH2 Distribution Date: May 25, 217 Distribution Date: May 25, 217 ACCOUNT ACTIVITY Supplemental Interest Trust (Swap Account): Basis Risk Account: Begininning Balance Beginning Balance 1, Deposit: Investment Income Deposit: Investment Income Deposit: Net Counterparty Payment Deposit : required deposit from waterfall Deposit: Counterparty Termination Payment Withdrawal: for Basis Risk shortfalls Deposits: remaining amounts from Waterfall Withdrawal: to the Swap Account Deposits: excess funds from Basis Risk Reserve Fund Ending Balance 1, Deposit / Withdrawal : Net Trust Payment to Counterparty Deposit / Withdrawal : Trust Termination Payment to Counterparty Miscellaneous: Withdrawal : to pay interest on certificates Withdrawal : to Principal Remittance, Net Realized Losses Withdrawal : to pay Deferred Amounts Servicing Fees 1,91.66 Withdrawal : to pay Basis Risk Shortfalls Prepayment Charges Withdrawal : to X, remaining amounts Current Advances Not Provided by Servicer Ending Balance Outstanding Advances Not Provided by Servicer Swap Notional Balance Swap Payment made by the swap provider to the trust Reconciliation: Swap Payment made by the trust to the swap provider Available funds (A): Servicer remittance 393, Accrued and Unpaid Extraordinary Trust Fund Expenses Net Funds from Basis Risk Account Net Funds from Cap and Swap Reinvestment Income Swap Payments to Trust from Swap Counterparty 393, Distributions (B): Credit Risk Manager's Fee 1,5 Extraordinary Trust Fund Expense 2, Payments to Counterparty from Swap Trust (Receipts) Total interest distributed 44, Total principal distributed 344, , (A) - (B): * In the absence of specific guidance in the governing documents, forgiveness of principal agreed to and reported by a Servicer in connection with a loan modification will be treated as a Realized Loss, and will be included in such reported amounts and related calculations. **In the absence of specific provisions in the governing documents and consistent with the information provided by the Servicer that the Servicer is following the guidance issued by the Department of Treasury, deferred principal agreed to and reported as a loss by the Servicer in connection with a loan modification will be treated as a Realized Loss, and will be included in such reported amounts and related calculations. Page 3 of 9

6 First Franklin Mortgage Loan Trust Mortgage Series Pass-Through 25-FFH2 Certificates Series 25-FFH2 Distribution Date: May 25, 217 Distribution Date: May 25, 217 CREDIT ENHANCEMENT AND TRIGGERS Trigger Event: Overcollateralization: Relevant information: Ending Overcollateralization Amount 59, A) Current Balance of Loans 6+ days delinq, Bankruptcies, Foreclosures and REOs 5,981, Target Overcollateralization Amount 7,12,94.13 B) Ending Collateral Balance 28,13, Ending Overcollateralization deficiency amount 6,953,39.16 C) Current Delinquency Rate (A/B) % Overcollateralization release amount D) Rolling Three Month Delinquency % % E) Current Specified Enhancement % % F) Delinquency Event Threshold 36.% Excess interest distributions: G) Cumulative Realized Losses 85,724, Excess available interest (includes OC release) (A): 61,64.6 H) Original Collateral Balance 5,896,94.13 I) Cumulative Loss % ( G / H) % 1) as additional principal to certificates 61,64.6 J) Applicable Cumulative Loss Limit % 6.75% 2) Deferred Amounts + Interest thereon (not applied as prin) 3) Basis Risk Payments A Trigger Event will occur if either (1) or (2) is True: 4) To Class P 1) Rolling Three Month Delinq % >= Limit ( D > = F ) NO 5) to Swap Account 2) Cumultive Loss % exceeds applicable limit % ( I > J ) YES 6) Remaining Amounts to LT-R YES (B): 61,64.6 Stepdown Date: Relevant information: Senior Enhancement Percentage % Senior Enhancement Percentage for purposes of Stepdown % (A)-(B): The later to occur of: 1) First payment date when Seniors are reduced to zero. YES 2) later of (x) July 28 YES (y) Date when Senior Enhancement % >= 44.2%. YES YES Page 4 of 9

7 Series 25-FFH2 COLLATERAL / REMITTANCE SUMMARY - GROUP Distribution Date: May 25, 217 POOL BALANCE INFORMATION: Beginning Balance Less: Principal Remittance Plus: Negative Amortization Plus: Draws (If Applicable) Less: Net Realized Losses Ending Balance PRINCIPAL REMITTANCE: Scheduled Principal Prepayments Curtailments Net Liquidation Proceeds Repurchase Principal Total Principal Remittance (A) INTEREST REMITTANCE: Gross Interest Less: Total Retained Fees Less: Deferred Interest Less: Relief Act Interest Shortfall Less: Net Prepayment Interest Shortfall Less: Net Nonrecoverable Advances Less: Interest Loss Net Interest Remittance From Servicer(s) (B) Prepayment Premiums (C) Other Funds (D) REMITTANCE TO TRUST (A+B+C+D): OTHER INFORMATION: Beginning Loan Count Ending Loan Count Ending Pool Factor Weighted Average Coupon Weighted Average Net Coupon Weighted Average Maximum Net Coupon Liquidated Loans - Balance Negative Amortization - Count Negative Amortization - Balance Substitution In Loans Substitution Out Loans Substitution Adjustment - Principal Loans w/ Prepayment Penalties - Balance Loans w/ Prepayment Penalties - Count Repurchase Loans - Count Subsequent Recoveries NON-RETAINED FEES: Excess Servicing Fee RETAINED FEES: Servicing Fee LPMI Special Servicing Fee Additional Master Servicing Fee Backup Servicing Fee Supplemental Insurance Fee Retained Interest 28,298, , ,9.9 28,13, , , , , , , , , , , % % % 93, ,91.66 Page 5 of 9

8 Series 25-FFH2 DELINQUENCY SUMMARY REPORT Distribution Date: May 25, 217 Delinquent Bankruptcy Foreclosure REO TOTAL Loan Count Sched Bal Percentage* Actual Bal Loan Count Sched Bal Percentage* Actual Bal Loan Count Sched Bal Percentage* Actual Bal Loan Count Sched Bal Percentage* Actual Bal Loan Count Sched Bal Percentage* Actual Bal Current 3-59 days 6-89 days days 12 + days TOTAL ,932,865. 1,99, , ,243, ,346, % 3.92% %.25% 4.44% 83.34% 2,979,77.6 1,16, , ,272, ,429, , , , % % % %.64% 2.7% 581, , , ,652,6.84 1,652,6.84 % % % % 5.9% 5.9% 1,74, ,74, ,257,98.9 2,257,98.9 % % % % 8.6% 8.6% 2,331, ,331, ,512, ,99, , ,331, ,13, % 3.92% %.25% 19.3% 1% 21,561, ,16, , ,529, ,267, days days 3-59 days Current 76.8% 3-59 days 3.9% 6-89 days.% days.3% 12 + days 19.% Total: 1.% Current * Percentages are based on scheduled balance as a percent of total pool scheduled balance days 6-89 days days 12 + days TOTAL Count Balance ($) % of Bal* Count Balance ($) % of Bal* Count Balance ($) % of Bal* Count Balance ($) % of Bal* Count Balance ($) % of Bal* Delinquent 12 1,99, % % 1 7, % 11 1,243, % 24 2,413, % Bankruptcy % % % 2 178, % 2 178, % Foreclosure % % % 11 1,652, % 11 1,652, % REO % % % 6 2,257, % 6 2,257, % TOTAL 12 1,99, % % 1 7, % 3 5,331, % 43 6,5, % % % % % days Delinquent 6-89 days Bankruptcy Group days Group Foreclosure 12 + days REO Distribution of Delinquencies By Group and Days. (total 1%) Distribution of Delinquencies By Group and Status Type. (total 1%) * Percentages are based on scheduled balance as a percent of total delinquent scheduled balance. Page 6 of 9

9 Series 25-FFH2 REO LOAN DETAIL REPORT Distribution Date: May 25, 217 REO Count All ($) % Count New ($) % 6 2,257,98.9 1% % TOTAL: 6 2,257,98.9 1% % GROUP Loan Number Original Balance Ending Balance Rate % Next Due Date Orig Term New REO? Book Value State Lien Scheduled Principal REO Date Actual Ending Balance (UPB) ,9 32, % 2/1/26 36 Not Available NY 1 Not Available 314, ,25 599, % 3/1/28 36 Not Available NY 1 Not Available 617, , 42, % 9/1/27 36 Not Available NY 1 Not Available 416, ,9 369, % 1/1/29 36 Not Available NJ 1 Not Available 382, , 36, 8.38% 7/1/25 36 Not Available FL 1 Not Available 36, , , % 1/1/ Not Available GA Not Available 294,17.84 Total: 6 2,252,665. 2,257,98.9 Page 7 of 9

10 Series 25-FFH2 PREPAYMENT & LIQUIDATION LOAN DETAIL REPORT Distribution Date: May 25, % Original Group Count Balance Prepayment Liquidation Begin Balance 6 1,96,3 224, , ,298, % Prepayment.79% Liquidation -.2% Beginning Balance 99.19% Total: 1% Loan Num Original Beginning Scheduled Prepayments Liquidation Loss Add'l Loss Payoff Description Paid Off Add'l Loss Loan Loss Prepay State Lien Balance Balance Principal Incl Curtail Proceeds Date Date Rate Severit Penalty , Liquidation 4/17/217 % IN , -2, , Liquidation 4/17/217 % NJ , 93, , , Modification Loss 4/3/ % -3.68% SC , Liquidation 2/19/217 % OH ,4-2, , Liquidation 4/17/217 % IL , 128, ,39.6 Voluntary PIF 4/3/ % IN 1 Total: 6 1,96,3 221, , , ,9.9 Page 8 of 9

11 Series 25-FFH2 SUBSTITUTION IN/OUT LOAN DETAIL REPORT Distribution Date: May 25, 217 Sub Period: # None # TOTAL SUBSTITUTIONS OUT: IN: Page 9 of 9